The commercial refrigeration compressor market was estimated by Future Market Insights (FMI) to be worth US$ 8,567.6 Mn in 2022 and to grow at a CAGR of 4.3% to US$ 13,090.8 Mn by 2032. Over the projected period, it is expected that use of natural and energy-efficient refrigerants will continue to rise.
About 25–35% of the total market for refrigeration compressors is made up of the commercial refrigeration compressor market globally (including industrial and residential).
The South Asia and Pacific region is anticipated to expand at a CAGR of 5.4% over the following few years. During the assessment period, ASEAN and India, two important economies in the region with strong growth in the emerging retail sector, are expected to grow at a CAGR of between 6% and 8%.
By 2021, the top 3 nations—the United States, China, and Germany—will account for nearly 34% of the global market for commercial refrigeration compressors. Growth in this area is still significantly influenced by urbanisation. Retailers have more opportunities to make sales as cities continue to expand and their residents become more prosperous.
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The rapid growth of the organized retail sector characterized by the rising number of supermarkets, hypermarkets, etc., is projected to drive the growth of the overall food chain, which, in turn, is estimated to boost the sales of commercial refrigeration compressors for refrigerated display cases and other refrigeration equipment.
Commercial Refrigeration Compressors Market Analysis by Region
From a regional perspective, East Asia is a projected to be a prominent market, owing to significant growth of retail stores in the region. Europe is projected to hold a value share of around 19% in the global commercial refrigeration compressors market.
The market in Asia Pacific is anticipated to expand at a relatively high growth rate, owing to the increasing demand for refrigerated display cases, beverage vending refrigeration systems, etc., which, in turn, is projected to drive the demand for commercial refrigeration compressors in the market.
The commercial refrigeration compressors market in China is expected to be a lucrative market, and is projected to grow at a value CAGR of nearly 6% during the forecast period.
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By Key Segment:
Type :
- Reciprocating
- Rotary
- Scroll
- Screw
- Centrifugal
Cooling Capacity :
- Upto 1 kW
- 2-6 kW
- 7-10 kW
- 11-15 kW
- 16-20 kW
- 21-30 kW
- 31-40 kW
- Above 40 kW
End Use :
- Transport based Refrigeration System
- Shipping Based
- Truck & Trailer Based
- Walk-in-Refrigerators and Freezers
- Reach-in-Refrigerators and Freezers
- Beverage Vending Refrigeration System
- Drinking & Soda Fountains
- Beverage Cooling & Dispensing Equipment
- Beer Dispensing Equipment
- Refrigerated Display Cases
- Ice Machines
- Refrigerated Vending Machines
Refrigeration :
- R290
- R404A
- R410A
- R744
- R134A
- R407C
- Others (R600A, etc.)
Region :
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
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Commercial Refrigeration Compressors Market: Vendor Insights
The report highlights some of the main companies that are operating in the global commercial refrigeration compressors market, such as Emerson Electric Co., HUAYI COMPRESSOR CO., LTD., Mitsubishi Electric Corporation, LG Electronics, Inc., The Danfoss Group, Panasonic Corporation, BITZER SE, GEA Group AG, Frascold S.p.A., Fusheng Co., Ltd., Nidec Corporation, Midea Group, Officine Mario Dorin S.p.A., Johnson Controls – Hitachi Air Conditioning, and Tecumseh Products Company LLC.
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments based on Source, Application, Sales Channel and End-Use over the next 7-years.
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