Refrigeration Compressors: Introduction
- Refrigeration is a process of removing heat from a substance or an enclosed space to achieve the suitable temperature. Refrigeration compressors provide a refrigerant circulation in the system. There are different types of refrigeration compressors available such as reciprocating, rotary, and centrifugal.
- Increasing demand for refrigeration compressors from various industries to preserve foods, chemicals, etc. is expected to drive the global refrigeration compressors market during the forecast period.
Key Drivers and Opportunities of the Global Refrigeration Compressors Market
- Refrigeration compressors are widely used in commercial and industrial applications. Increasing use of refrigeration compressors in different industries for varied applications such as healthcare, food & beverages, transportation, and retail food outlets, is expected to create demand for refrigeration compressors. Rapid growth in the pharmaceutical industry and growing demand for refrigeration compressors in the automobile industry to maintain good air quality in four-wheelers is also creating demand for refrigeration compressors. Furthermore, rising number of hypermarkets and supermarkets, convenience stores, and other retail stores, etc. has created huge demand for proper refrigeration solutions such as compressors.
- The export of food items is also creating demand for refrigeration compressors due to increasing concerns regarding safety of perishable foods and need for better cooling facilities during transportation. This is expected to help in increasing the demand for refrigeration compressors in the market during the forecast period.
- Refrigeration compressors require proper maintenance, otherwise it could result in system fail or huge losses. Also, it entails high installation cost, which could hamper the market growth. Moreover, the COVID-19 pandemic has affected the production and sales of the product owing to lockdowns, government restrictions, and gap in demand and supply. Nevertheless, manufacturers are focusing on innovation and technology by introducing advanced eco-friendly compressors with cost-effective features which will provide better business opportunity to manufacturers during the forecast period.
North America to Hold Major Share of the Global Refrigeration Compressors Market
- Geographically, the global refrigeration compressors market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
- North America is expected to lead the global refrigeration compressors market due to increasing demand for frozen & packaged foods and presence of well-established distribution networks. The other region which holds prominent position in the market after North America is Asia Pacific due to increase in industrialization.
Key Players Operating in the Global Market
Major players operating in the global refrigeration compressors market include:
- Daikin Industries
- Huayi Compressor Barcelona S.L.
- Italia Wanbao-ACC S.r.l
- Johnson Controls – Hitachi Air Conditioning
- Kirloskar Pneumatic Company Limited
- Mitsubishi Electric Corporation
- The Danfoss Group
Global Refrigeration Compressors Market: Research Scope
Global Refrigeration Compressors Market, by Type
Global Refrigeration Compressors Market, by Cooling Capacity
- Below 100 kW
- 100 - 400 kW
- Above 400 kW
Global Refrigeration Compressors Market, by End-use
- Cold Rooms
- Ice Making Machines
- Glass Door Merchandisers
- Others (Process Cooling, Display Cabinets, etc.)
- Food and Beverages
- Others (Healthcare, etc.)
Global Refrigeration Compressors Market, by Distribution Channel
- Direct Sales
- Indirect Sales
Global Refrigeration Compressors Market, by Region
- North America
- United States
- Rest of North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of APAC
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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