The global market for air conditioning compressors is anticipated to reach US$ 25,941.3 Million in 2022 and continue to expand at a 5.0% CAGR from 2022 to 2032, according to Future Market Insights. By 2032, it is anticipated that global sales of air conditioning compressors would amount to US$ 42,413.6 million.
Sales of air conditioning compressors are rising as infrastructural development occurs globally. The global GDP is strongly reliant on infrastructure. The demand for air conditioning compressors is anticipated to rise significantly over the next ten years due to the major contribution of emerging and developing economies to global economic growth.
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Air conditioning compressors find application in homes, workplaces, hospitals, entertainment venues, automobiles, and other commercial and industrial buildings. Many people in developing nations view air conditioning as a luxury product for the home.
Because of reasons like rising population, falling AC prices, increasing disposable income, and changing consumer lifestyles, a positive growth trajectory for air conditioning compressor market has been predicted by FMI for the projection period.
Similarly, there is an increasing need for air conditioners everywhere, particularly in urban areas, as a result of increased air pollution, high temperatures, and humidity levels. Fluctuation in temperature is prompting people to install cooling units in their buildings. This will continue to boost the sales of air conditioning compressors during the assessment period.
Key Takeaways from Market Study
- Based on type, rotary type is projected to hold the highest share of 56.8% in terms of volume in 2022.
- By refrigerant type, the R290 refrigerant segment is expected to grow at a CAGR of 4.5% during the forecast period.
- By application, the residential sector is projected to lead the Air conditioning compressor market, creating an absolute $ opportunity worth US$ 1,069.0 Million during the forecast period.
- By 2032, East Asia is expected to have the largest share of around 33.1% in the global air conditioning compressor market.
- China’s air conditioning compressor market is projected to grow at 4.9% CAGR during the forecast period,
- The U.S. air conditioning compressor market is likely to create an incremental opportunity of nearly US$ 2,042.5 Million by 2032.
“Rising application in residential, industrial, transportation, and commercial sectors is a key force behind the expansion of the global air conditioning compressor market forward. Besides this, advancements in compressor technology are likely to boost market over the next decade,” says a Future Market Insights analyst.
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Who is Winning?
Among the industry’s key players are Emerson Electric Co., Daikin Industries Ltd., LG Electronics, The Danfoss Group, Tecumseh Products Company LLC, Panasonic Corporation, GEA Group AG, Johnson Controls–Hitachi Air Conditioning, BITZER SE, Midea Group (GMCC), and Officine Mario Dorin S.p.A and others.
These manufacturers are focusing on increasing their regional market and are involved in marking their direct presence in the local markets by expanding their dealer network. They are also collaborating with local distributors to supply their products globally.
More Insights into Air Conditioning Compressor Market:
The research report analyzes the market demand trend for Air conditioning compressors. The global market is based on COVID-19 impact, macroeconomic factors, market trends & market background. As per Future Market Insights’ research scope, the Air conditioning compressor report is studied and analyzed in the following segments such as type, refrigerant type application, and region. The Air conditioning compressor report gives us qualitative and quantitative information about the companies.
Key Segments Covered in Air Conditioning Compressor Industry Analysis
By Type:
- Rotary
- Screw
- Scroll
- Centrifugal
- Reciprocating
By Refrigerant Type:
- R410A
- R22
- R404A
- R134A
- R290
- R32
- Others
By Application:
- Residential
- Commercial
- Medical & Healthcare
- Industrial
- Transportation
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and the Pacific
- Middle East & Africa
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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