Global Refrigerant Compressors Market Size study & Forecast, by Type (Centrifugal, Rotary, Reciprocating) by Refrigerant (Ammonia, Carbon Dioxide, Hydroflurocarbon (HFC), Hydrochlorofluorocarbons (HCFC), Others), by End User Industry (Food and Beverage, C

Global Refrigerant Compressors Market Size study & Forecast, by Type (Centrifugal, Rotary, Reciprocating) by Refrigerant (Ammonia, Carbon Dioxide, Hydroflurocarbon (HFC), Hydrochlorofluorocarbons (HCFC), Others), by End User Industry (Food and Beverage, Chemical and Petrochemical, Pharmaceutical, Domestic, Other) and Regional Analysis, 2023-2030

Global Refrigerant Compressors Market is valued approximately at USD 38.33 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 4.5% over the forecast period 2023-2030. Refrigerant compressor is a mechanical device used in refrigeration and air conditioning systems to compress and circulate refrigerant gases within the system. The compressor plays a crucial role in the refrigeration cycle by increasing the pressure and temperature of the refrigerant gas, turning it into a high-pressure, high-temperature vapor. This compressed vapor then moves through the system to release heat and absorb it from the surrounding environment. Key components of a refrigerant compressor include a motor, a compression mechanism, and valves. Moreover, the rising demand for cooling systems, growing food and beverage industry, and expanding cold chain logistics are anticipated to create lucrative demand for the market during forecast period 2023-2030.

Additionally, the growing processed food market significantly supports the expansion of the Refrigerant Compressors Market. As the demand for processed food continues to rise, there is an increased need for efficient and reliable refrigeration systems in the food processing and storage industry. According to Statista, in 2017, the processed food industry in South Korea was valued USD 61 billion and the market is increased significantly and reached USD 78 billion in 2021. As a result, the rising processed food market is anticipated to support the market growth. Moreover, ongoing advancements in compressor technology, such as the development of more energy-efficient and environment friendly compressors and growing HVACR industry is anticipated to create lucrative opportunity for the market growth. However, strict government regulations, and high initial costs and maintenance expenses stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Refrigerant Compressors Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the rising demand for air conditioning and HVAC systems, ongoing advancements in compressor technology, expansion of the retail and foodservice sectors, and presence of key market plyers. Whereas, Asia Pacific region is expected to grow with the fastest growth rate during the forecast period, owing to factors such as the rising demand for air conditioning and refrigeration, growing rapid urbanization and infrastructure development projects, and growth of various industries, including manufacturing, food processing, and pharmaceuticals.

Major market player included in this report are:
BITZER Group
Tecumseh Products Company
LG Electronics
Johnson Controls
samsung electronics co., ltd.
Mitsubishi Electric Corporation
Carrier Global Corporation
Copeland LP
Panasonic Holdings Corporation
Danfoss A/S

Recent Developments in the Market:
 In November 2020, Emerson has introduced the latest Copeland™ Scroll Compressors designed for commercial comfort applications, aligning with efficiency standards and regulations related to refrigerants.

Global Refrigerant Compressors Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered – Type, Refrigerant, End User Industry, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Type:
Centrifugal
Rotary
Reciprocating

By Refrigerant:
Ammonia
Carbon Dioxide
Hydroflurocarbon (HFC)
Hydrochlorofluorocarbons (HCFC)
Others

By End User Industry:
Food and Beverage
Chemical and Petrochemical
Pharmaceutical
Domestic
Other

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned
BITZER Group
Tecumseh Products Company
LG Electronics
Johnson Controls
samsung electronics co., ltd.
Mitsubishi Electric Corporation
Carrier Global Corporation
Copeland LP
Panasonic Holdings Corporation
Danfoss A/S

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