According to Future Market Insights, the global refrigeration compressor market is expected to reach a value of USD 37,597.8 million in 2022 and grow at a compound annual growth rate (CAGR) of 3.6% between 2022 and 2032. Overall sales of refrigeration compressors are anticipated to total approximately USD 53,732.1 million by 2032.
The increasing application of refrigeration compressors across various sectors—including residential, commercial, healthcare, industrial, and transportation—is a key driver of market growth.
Factors such as rising demand for fast-moving consumer goods (FMCG), the expansion of organized retail stores, increased consumption of processed foods, and a growing need for cold chain infrastructure are further boosting sales of refrigeration compressors.
Many FMCG products, due to their perishable nature, require cold storage, which necessitates reliable refrigeration systems for packaging and beverages. Over the past few decades, there has been a surge in demand for FMCG products, prompting manufacturers to enhance their production capabilities, build new facilities, and adopt advanced refrigeration technologies like compressors. As global demand for FMCG continues to rise, the refrigeration compressor market is expected to see steady growth in the coming years.
Additionally, the increasing use of refrigeration in horticulture and other related industries is likely to drive market demand. The rapid expansion of cold chain infrastructure worldwide is also contributing to the increased need for refrigeration compressors.
As the food trade in emerging markets grows rapidly, bolstered by robust cold chain infrastructure and warehouses, there will be significant opportunities for the refrigeration compressor industry, particularly with the rising demand for small cold storage systems for the delivery of frozen and perishable goods.
Key Takeaways from Refrigeration Compressor Market Report:
- By type, reciprocating segment is projected to hold the highest share of around 62.8% in terms of volume in 2022.
- Based on refrigerant type, the R134A refrigerant type segment is projected to grow at a CAGR of 2.0% between 2022 and 2032.
- By application, the residential segment is anticipated to create an absolute $ opportunity worth US$ 7,383 Million during the forecast period.
- By 2032, East Asia is expected to hold the largest share of 28.1% in the global market.
- The U.S. refrigeration compressor market is poised to expand at 3.0% CAGR over the forecast period, reaching a market valuation of US$ 10,313.4 Million by the end of 2032.
- China’s refrigeration compressor market is anticipated to rise at 2.8% CAGR between 2022 and 2032.
Key Companies Profiled:
- Nidec Corporation
- Emerson Electric Co.
- GEA Group AG
- The Danfoss Group
- Midea Group
- Tecumseh Products Company LLC.
- Mitsubishi Electric Corporation
- LG Electronics, Inc.
- Changhong Huayi Compressor Co., Ltd.
- Panasonic Corporation
- Frascold S.p.A.
- Johnson Controls–Hitachi Air Conditioning
- Carrier Corporation
Global Refrigeration Compressor Industyry by Category
By Product Type:
- Reciprocating
- Rotary
- Scroll
- Screw
- Centrifugal
By Refrigerant Type:
- R410A
- R407C
- R404A
- R134A
- R290
- R600a
- Others
By Application:
- Residential
- Commercial
- Medical & Healthcare
- Industrial
- Transportation
By Region:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- Middle East and Africa
Report Preview: https://www.futuremarketinsights.com/reports/refrigeration-compressor-market
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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