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The size of the global refrigerant compressors market, which was estimated at USD 18.49 billion in 2022, is expected to increase from that level to USD 29.49 billion by 2030, rising at a CAGR of 6.37% over the forecast period (2023-2030).
The efficient operation of several applications, including air conditioning, refrigeration systems, and heat pumps, is supported by the worldwide refrigerant compressors market, which is crucial to the cooling and refrigeration industry. The circulation of refrigerants inside these systems, which facilitates the heat exchange process and for the cooling or heating of areas and products, is made possible by refrigerant compressors, which are essential system components. Due to rising environmental concerns and legislative actions aimed at lowering greenhouse gas emissions, the market is characterized by a growing demand for energy-efficient and ecologically friendly solutions. As a result, there has been a discernible movement towards the adoption of compressors that utilize cutting-edge technologies to improve performance while reducing environmental impact and use low Global Warming Potential (GWP) refrigerants.
The need for refrigerant compressors is still being driven by elements such quick urbanization, growing commercial and industrial sectors, and rising needs for temperature control and preservation across sectors like food and beverage, pharmaceuticals, and automotive. Manufacturers are aggressively investing in R&D to bring innovative compressor designs to market, with an emphasis on increased efficiency, dependability, and compactness. Trends like the adoption of Internet of Things (IoT) technology, which enables remote monitoring and control of compressor systems for improved performance and predictive maintenance, also have an impact on the industry. Key firms are striving for market dominance through product differentiation, strategic alliances, and global expansion in a competitive market environment.
The act of removing heat from a substance or an enclosed system in order to bring it to a comfortable temperature is known as refrigeration. A mechanical device known as a refrigeration compressor is a crucial part of the refrigeration system. A refrigeration compressor unit's job is to disperse heat into the environment while circulating the refrigerant under pressure. The action of the compressor is activated by temperature sensors. The vaporized refrigerant's pressure and temperature are raised by the refrigerant compressor. The compressor receives refrigerant flow from the evaporator coil, which raises the coolant's pressure. The vaporized refrigerant then travels to the condenser unit, where it undergoes an exothermic transformation into a liquid and releases heat. The refrigerant moves from the condenser to the expansion valve and experiences a pressure decrease along the way. The refrigerant flows from the expansion valve to the evaporator, where the liquid refrigerant absorbs heat from the evaporator's surroundings. The liquid refrigerant is vaporized by this heat. The cycle then resumes with the refrigerant flowing back to the compressor. Recurrent refrigeration cycles are used in refrigeration systems to cool items. The efficiency of the refrigeration compressor unit is crucial to the refrigeration system's efficiency. Compressors come in a variety of varieties for refrigeration purposes.
There are several uses for refrigeration compressors. Commercial refrigeration systems are utilized in a variety of industries, including the food and beverage, retail, transportation, chemical, and healthcare sectors. The preservation of food depends heavily on refrigeration systems and, consequently, refrigeration compressors. Depending on the type of application, various refrigeration compressor types are offered on the market. Food and beverage, transportation, chemical, health care, pharmaceutical, and the automotive industries are just a few of the many industries that use refrigeration compressors. The need for modern air conditioners, refrigerators, and by extension, refrigerant compressors is being driven by a number of factors, including the increased disposable income of the average consumer worldwide, the expanding global population, and urbanization. The preservation of food and medicines are two of the key reasons why proper refrigeration and air conditioning are crucial. Other essential reasons include the upkeep of comfortable living and working environments. A significant factor driving the worldwide HVAC and refrigerant compressors industries is the increase in awareness of the importance of energy saving. Despite the enormous technological breakthroughs made, refrigeration compressors still need regular maintenance because failure could result in significant losses. This is a significant factor limiting the demand for refrigerant compressors globally. Additionally, the fact that many dangerous gases are released into the atmosphere by refrigeration systems presents a significant barrier for producers in the refrigeration compressor market. The strict environmental and energy-efficiency related regulations imposed by various governments and international bodies are creating new demand for better designed and improved products in the HVAC systems and equipment market, which presents an opportunity for the growth of the global refrigerant compressors market.
The increasing emphasis on ecologically benign and low-global-warming-potential (GWP) refrigerants is a notable trend in the market for refrigerant compressors. Growing environmental laws and worries about the effects of conventional refrigerants, such as hydrochlorofluorocarbons (HCFCs) and hydrofluorocarbons (HFCs), on ozone depletion and global warming are what are driving this trend. As a result, there has been a change in favor of using natural refrigerants such hydrocarbons and carbon dioxide as well as alternative refrigerants having less of an adverse effect on the environment, like hydrofluoroolefins (HFOs). New compressors that are best suited for usage with these ecologically friendly refrigerants have been developed as a result of this change.
Report Coverage
Global Refrigerant Compressors research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Refrigerant Compressors report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Refrigerant Compressors competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Refrigerant Compressors market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Refrigerant Compressors market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Refrigerant Compressors market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Emerson Electric Co., Mitsubishi Electric Corporation, Danfoss, Ramco, Bitzer SE, GMCC Company, Fusheng Co. Ltd., Torad Engineering, Hanbell Precise Machinery Co. Ltd., Panasonic Corporation of North America, Carrier Corporation: United States, Daikin Industries Ltd.: Japan, Johnson Controls Pvt. Ltd.: United States, Ingersoll Rand Inc.: United States, Rechi Precision Co., Ltd.: Taiwan, Hitachi Ltd.: Japan, Huayi Compressor: China
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Refrigerant Compressors market based on the below-mentioned segments:
Global Refrigerant Compressors Market, By Type
Reciprocating compressor
Screw compressor
Centrifugal compressor
Rotary compressor
Scroll Compressor
Others
Global Refrigerant Compressors market, By Application
Domestic
Commercial
Global Refrigerant Compressors Market, By Industry vertical
HVAC
Food and beverages
Logistics and transportation
Chemical and Pharmaceutical
Others
Global Refrigerant Compressors market, Regional Analysis
The efficient operation of several applications, including air conditioning, refrigeration systems, and heat pumps, is supported by the worldwide refrigerant compressors market, which is crucial to the cooling and refrigeration industry. The circulation of refrigerants inside these systems, which facilitates the heat exchange process and for the cooling or heating of areas and products, is made possible by refrigerant compressors, which are essential system components. Due to rising environmental concerns and legislative actions aimed at lowering greenhouse gas emissions, the market is characterized by a growing demand for energy-efficient and ecologically friendly solutions. As a result, there has been a discernible movement towards the adoption of compressors that utilize cutting-edge technologies to improve performance while reducing environmental impact and use low Global Warming Potential (GWP) refrigerants.
The need for refrigerant compressors is still being driven by elements such quick urbanization, growing commercial and industrial sectors, and rising needs for temperature control and preservation across sectors like food and beverage, pharmaceuticals, and automotive. Manufacturers are aggressively investing in R&D to bring innovative compressor designs to market, with an emphasis on increased efficiency, dependability, and compactness. Trends like the adoption of Internet of Things (IoT) technology, which enables remote monitoring and control of compressor systems for improved performance and predictive maintenance, also have an impact on the industry. Key firms are striving for market dominance through product differentiation, strategic alliances, and global expansion in a competitive market environment.
The act of removing heat from a substance or an enclosed system in order to bring it to a comfortable temperature is known as refrigeration. A mechanical device known as a refrigeration compressor is a crucial part of the refrigeration system. A refrigeration compressor unit's job is to disperse heat into the environment while circulating the refrigerant under pressure. The action of the compressor is activated by temperature sensors. The vaporized refrigerant's pressure and temperature are raised by the refrigerant compressor. The compressor receives refrigerant flow from the evaporator coil, which raises the coolant's pressure. The vaporized refrigerant then travels to the condenser unit, where it undergoes an exothermic transformation into a liquid and releases heat. The refrigerant moves from the condenser to the expansion valve and experiences a pressure decrease along the way. The refrigerant flows from the expansion valve to the evaporator, where the liquid refrigerant absorbs heat from the evaporator's surroundings. The liquid refrigerant is vaporized by this heat. The cycle then resumes with the refrigerant flowing back to the compressor. Recurrent refrigeration cycles are used in refrigeration systems to cool items. The efficiency of the refrigeration compressor unit is crucial to the refrigeration system's efficiency. Compressors come in a variety of varieties for refrigeration purposes.
There are several uses for refrigeration compressors. Commercial refrigeration systems are utilized in a variety of industries, including the food and beverage, retail, transportation, chemical, and healthcare sectors. The preservation of food depends heavily on refrigeration systems and, consequently, refrigeration compressors. Depending on the type of application, various refrigeration compressor types are offered on the market. Food and beverage, transportation, chemical, health care, pharmaceutical, and the automotive industries are just a few of the many industries that use refrigeration compressors. The need for modern air conditioners, refrigerators, and by extension, refrigerant compressors is being driven by a number of factors, including the increased disposable income of the average consumer worldwide, the expanding global population, and urbanization. The preservation of food and medicines are two of the key reasons why proper refrigeration and air conditioning are crucial. Other essential reasons include the upkeep of comfortable living and working environments. A significant factor driving the worldwide HVAC and refrigerant compressors industries is the increase in awareness of the importance of energy saving. Despite the enormous technological breakthroughs made, refrigeration compressors still need regular maintenance because failure could result in significant losses. This is a significant factor limiting the demand for refrigerant compressors globally. Additionally, the fact that many dangerous gases are released into the atmosphere by refrigeration systems presents a significant barrier for producers in the refrigeration compressor market. The strict environmental and energy-efficiency related regulations imposed by various governments and international bodies are creating new demand for better designed and improved products in the HVAC systems and equipment market, which presents an opportunity for the growth of the global refrigerant compressors market.
The increasing emphasis on ecologically benign and low-global-warming-potential (GWP) refrigerants is a notable trend in the market for refrigerant compressors. Growing environmental laws and worries about the effects of conventional refrigerants, such as hydrochlorofluorocarbons (HCFCs) and hydrofluorocarbons (HFCs), on ozone depletion and global warming are what are driving this trend. As a result, there has been a change in favor of using natural refrigerants such hydrocarbons and carbon dioxide as well as alternative refrigerants having less of an adverse effect on the environment, like hydrofluoroolefins (HFOs). New compressors that are best suited for usage with these ecologically friendly refrigerants have been developed as a result of this change.
Report Coverage
Global Refrigerant Compressors research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Refrigerant Compressors report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Refrigerant Compressors competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Refrigerant Compressors market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Emerson Electric Co., Mitsubishi Electric Corporation, Danfoss, Ramco, Bitzer SE, GMCC Company, Fusheng Co. Ltd., Torad Engineering, Hanbell Precise Machinery Co. Ltd., Panasonic Corporation of North America, Carrier Corporation: United States, Daikin Industries Ltd.: Japan, Johnson Controls Pvt. Ltd.: United States, Ingersoll Rand Inc.: United States, Rechi Precision Co., Ltd.: Taiwan, Hitachi Ltd.: Japan, Huayi Compressor: China |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Refrigerant Compressors Market from 2021 to 2030.
- Market Forecast for Refrigerant Compressors Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Refrigerant Compressors competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Refrigerant Compressors
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Refrigerant Compressors market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Refrigerant Compressors market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Emerson Electric Co., Mitsubishi Electric Corporation, Danfoss, Ramco, Bitzer SE, GMCC Company, Fusheng Co. Ltd., Torad Engineering, Hanbell Precise Machinery Co. Ltd., Panasonic Corporation of North America, Carrier Corporation: United States, Daikin Industries Ltd.: Japan, Johnson Controls Pvt. Ltd.: United States, Ingersoll Rand Inc.: United States, Rechi Precision Co., Ltd.: Taiwan, Hitachi Ltd.: Japan, Huayi Compressor: China
Primary Target Market
- Market Players of Refrigerant Compressors
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Refrigerant Compressors market based on the below-mentioned segments:
Global Refrigerant Compressors Market, By Type
Reciprocating compressor
Screw compressor
Centrifugal compressor
Rotary compressor
Scroll Compressor
Others
Global Refrigerant Compressors market, By Application
Domestic
Commercial
Global Refrigerant Compressors Market, By Industry vertical
HVAC
Food and beverages
Logistics and transportation
Chemical and Pharmaceutical
Others
Global Refrigerant Compressors market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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