According to a recent market analysis by Future Market Insights (FMI), the USA scroll compressor market is anticipated to reach US$ 1,703.6 Million in 2033, expanding at a CAGR of 4.9% from 2023 to 2033.
The USA scroll compressor market is a fast-growing market driven primarily by increasing demand for energy-efficient systems. Rising environmental awareness and growing requirements for air conditioning and refrigeration systems are also prominent factors pushing sales in this market.
Along with this factor, prominent players are focused on acquisitions, mergers and partnerships with regional players. Furthermore, the leading players are expanding their range of compressors compatible with low GWP refrigerates. This is particularly happening in regions which have strict norms against the use of high GWP refrigerants, like the USA.
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The USA scroll compressor industry is driven by several additional factors, like the growth of the service industry and the oil-free scroll compressor segment.
The market, however, also faces some challenges. A few of these would be intense competition and fluctuating raw material prices. The market has only recently begun recovering from the impact of COVID-19 and political instability from the Ukrainian crisis on supply chains.
These factors may hinder the growth of the market in the short term, but the long-term outlook remains positive due to the increasing demand for sustainable and energy-efficient solutions.
Key Takeaways:
- Over the course of the forecast period, the market share of the refrigeration sector is estimated to grow to about 80% of the total value.
- The total revenue from the USA scroll compressor market in 2022 was calculated to be around US$ 1013.2 Million.
- Scroll compressor sales in the USA are expected to hit US$ 1056.7 Million by 2023 end.
- The USA scroll compressor market is projected to hit a value of US$ 1703.6 Million by the end of the forecast period 2023 to 2033.
- The CAGR for the forecast period 2023 to 2033 is estimated to be 4.9%.
- The estimated collective value share of the top 5 companies is set at 25-30% by 2023 end.
“Rising sustainability concerns have permeated all industries across the globe. Even in the face of intense refrigeration and cooling requirements, environmental concerns have emerged as crucial factors influencing the choice of materials and production processes in the USA scroll compressors industry. Manufacturers would find significant growth opportunities in catering to the HVAC segment, which is predicted to keep growing substantially over the forecast period.”– says a lead Analyst.
Competitive Landscape:
Market participants vie with one another in terms of quality, price, performance, dependability, and novelty. Companies strive to stay ahead of the competition by continually innovating and expanding their product lines to meet the diverse needs of their customers. Large sums are also spent on research & development to enhance product quality and functionality by businesses.
The major players in the market are working to expand their customer base by improving their distribution channels and offering after-sale services like repairs and set-up. To raise awareness of their products, the major players use a wide range of promotional tactics, such as paid search advertising, social media marketing, and attendance at industry events.
Some key players in the market covered in the report are Midea Group (GMCC), Daikin Compressor Industries Limited, Zhuhai Landa Compressor Co. Ltd. (Gree), Panasonic Corporation, and LG Electronics.
Recent developments:
- In November 2021, Emerson announced the launch of its new Copeland ZX scroll compressor range for commercial refrigeration applications.
Find More Valuable Insights:
The research report analyzes the demands and trends of the USA scroll compressor market. The global market estimation and growth projection are based on factors like end-use industries development, COVID-19 crisis impact, replacement ratio, and adoption rate of scroll compressors. As per Future Market Insights (FMI) research scope, the scroll compressor market has been studied and segmented on the basis of type and region. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market by both, the supply side and demand side.
USA Scroll Compressor Market by Category:
By Type:
- Air Conditioning
- Residential (1HP to 6HP)
- Commercial (7.5 HP to 30 HP)
- Refrigeration
- Condensing units (1 HP to 10HP)
- Industrial (10HP to 30 HP)
By Region:
- West USA
- Mid-West USA
- North East USA
- South USA
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