In 2022, sales in the commercial RAC PD compressor market are expected to reach US$ 5.1 billion. The market is anticipated to grow at a healthy 4.0% CAGR to reach US$ 6.4 Bn by 2028.
Sales in this market are expected to increase due to the rising demand for refrigeration and air conditioning in both developed and developing nations. The pharmaceutical industry will also benefit financially from the increased adoption of HVAC systems by creating expansion opportunities.
The global commercial RAC PD compressor market is estimated to reach ~US$ 4.5 Bn in 2019 and increase at a CAGR of ~4% over the forecast period of 2019-2029. This growth is majorly driven by the replacement of old commercial RAC PD compressors and innovation in compressor technology.
As several government policies continue to support the production and usage of environment-friendly refrigerants, commercial RAC PD compressor manufacturers are leveraging energy technologies to offer cost-efficient products with lower carbon footprint, reports the FMI study.
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East Asia Commercial RAC PD Compressor Market Attractiveness Rising
Regions such as East Asia, North America and South Asia, are projected to capture substantial market shares in terms of value. However, the East Asia commercial RAC PD compressor market is estimated to project lucrative growth during the forecast period of 2019-2029.
This growth is driven by the rapid increase in cold storage food trucks in countries such as China, South Korea, and Japan. Moreover, significant changes in living standards and improving macro-economic scenario have led to a substantial surge in the number of organized retail stores, worldwide.
The prompt growth of the organized retail sector considered by the rise in the number of hypermarkets, supermarkets etc., is anticipated to drive the growth of the overall food chain, that in turn, is expected to boost the sales of commercial RAC PD compressor for refrigerated display cases and other refrigeration equipment.
The commercial RAC PD compressor market is likely to grow at a significant rate during the forecast period, supported by the increase in the number of retail stores across the globe.
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Supermarkets and Convenience Stores to Remain Key End-Use Sectors of Commercial RAC PD Compressor
The global market of commercial RAC PD compressors has been segmented based on different types of Commercial RAC PD compressors, their multiple applications, and regions such as Latin America, North America, Europe, East Asia, South Asia, and Oceania and MEA.
By refrigeration, the commercial RAC PD compressor market has been categorized into R134A, R290, R410A, R744, R404A, R407C, and others. Among these, the R410A segment is expected to grow at a high pace, owing to its various advantages such as stretched cooling capacity, better efficiency, and size reduction of the compressor
By product type, the commercial RAC PD compressor market is segmented into reciprocating and scroll compressors. The reciprocating compressor accounts for nearly 64% value wise share, on account of its wide application in various commercial refrigeration equipment in the global commercial RAC PD compressor market.
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Commercial RAC PD Compressor Market: Vendor Insights
The report highlights some of the prominent market players, who have established themselves as leaders in the global Commercial RAC PD Compressor market such as are The Danfoss Group, Huayi Compressor Co., Ltd, Midea Group, Emerson Electric Co., Nidec Corporation, Mitsubishi Electric Corporation, Panasonic Corporation, United Technologies, Corporation, GEA Group AG, MAYEKAWA MFG. CO., LTD.
The global Commercial RAC PD Compressor market is significantly consolidated with some players holding prominent shares of the market. Tier-1 manufacturers account for ~15%-20% of the global market with revenue from the Commercial RAC PD Compressor market of ~US$ 800Mn. Tier-1 manufacturers includes are The Danfoss Group, Huayi Compressor Company Ltd. and United Technologies Corporation
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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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