Global Hermetic Reciprocating Compressor Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Hermetic Reciprocating Compressor Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Hermetic Reciprocating Compressor refers to a Compressor that is housed in a closed enclosure with a motor and relies on the piston driven by the crankshaft to periodically change the volume of the cylinder and achieve pressurization and transportation of gas.

Market Overview:

The latest research study on the global Hermetic Reciprocating Compressor market finds that the global Hermetic Reciprocating Compressor market reached a value of USD 5576.71 million in 2022. It’s expected that the market will achieve USD 6278.92 million by 2028, exhibiting a CAGR of 2.0% during the forecast period.

Influence of COVID-19 Outbreak on Hermetic Reciprocating Compressor (0-400 watt, LBP condition for Household & Commercial Refrigerator) Industry Development

The raging COVID-19 has left the global economic environment in depression. The impact of COVID-19 on the Hermetic Reciprocating Compressor industry will involve all major links and all entities in the industry chain. The company's management efficiency has declined, commuting has been severely hindered, production plans have been severely hindered, network expansion has been delayed, marketing has been delayed, brand adjustments have been forced, market sales have declined, and company and employee revenue have declined. The impact on the Hermetic Reciprocating Compressor industry depends on the prevention and control effects of COVID-19.
Affected by COVID-19, logistics will be suspended, and the supply of raw materials for Hermetic Reciprocating Compressor will be tight. Production was stagnant, the company's inventory increased, and the production of related enterprises in the severely affected areas was greatly affected. The short-term epidemic has less impact on the supply of raw materials for enterprises, mainly consuming stock materials, and the long-term epidemic will cause incalculable losses. If the epidemic develops further and logistics is always unsatisfactory, small and medium-sized Hermetic Reciprocating Compressor enterprises are likely to be shut down due to insufficient raw material supply, and even large enterprises will face the same problem.

Strength

Irreplaceability
Hermetic Reciprocating Compressor is the key to cooling of a refrigerator, which is a necessary electrical appliance for keeping food fresh. Therefore, Hermetic Reciprocating Compressor has a certain degree of irretrievability.
High demand for downstream products
In recent years, the sales of refrigerators, an essential electrical appliance for daily preservation, have been increasing, which also leads to a growing demand for Hermetic Reciprocating Compressor.

Weakness

Fierce competition
There are many manufacturers in this industry, and the competition is fierce. If the players continue to compete on price in Hermetic Reciprocating Compressor products, avoiding enhancing products with features and technological content that could increase costs, it will be hard for them to sustain the fierce market.

Opportunity

Increasing demand for commercial refrigerators
With the in-depth layout of commercial formats such as supermarkets and convenience stores, the sales of refrigerators and various commercial refrigerators are also increasing, which brings certain opportunities to the Hermetic Reciprocating Compressor industry.
Government's energy saving requirements for refrigerators
With the government's policies such as the Limited Value of Electricity Consumption and Energy Efficiency Rating of Household Refrigerators, which promoted the sales of inverter refrigerators, it also brought certain opportunities to the sales of inverter Hermetic Reciprocating Compressor.

Region Overview:

From 2023-2028, Asia Pacific is estimated to witness robust growth prospects.

Company Overview:

Changhong Huayi is one of the major players operating in the Hermetic Reciprocating Compressor market, holding a share of 15.43% in 2021.

Changhong Huayi is a China-based company principally engaged in the general equipment manufacturing business. The Company's principal businesses include the development, manufacture and sales of refrigerator compressors and commercial compressors. The refrigerator compressors are mainly used in household refrigerators, freezers and other household appliances. The commercial compressors are mainly used in supermarket refrigerated display cabinets, fresh cabinets, automatic building machines and other fields. The Company mainly distributes its products in domestic market and overseas markets.

Donper is a Chinese company whose main business is R&D and production of refrigeration compressors and commercial refrigeration appliances.

Segmentation Overview:

Among different product types, Fixed Compressor segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Household Refrigerators segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Hermetic Reciprocating Compressor market covered in Chapter 3:

Anoudan
Godrej
Walton
Donper
Taizhou Meilile
Sikelan
Kulthorn Kirby
Zanussi
Wanbao
Panasonic
LG
Changhong Huayi
Qianjiang
Embraco
Samsung
Siberia
Secop
Comptek
GMCC
Tecumseh
Arcelik

In Chapter 4 and Chapter 14.2, on the basis of types, the Hermetic Reciprocating Compressor market from 2018 to 2029 is primarily split into:

Fixed Compressor
Inverter Compressor

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Hermetic Reciprocating Compressor market from 2018 to 2029 covers:

Household Refrigerators
Commercial Refrigerators

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)