Global Vapor Compression Refrigeration System Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Vapor Compression Refrigeration System Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Air-cooled refers to cooling by passing air. Divided into natural convection and forced convection.

Market Overview:

The latest research study on the global Vapor Compression Refrigeration System market finds that the global Vapor Compression Refrigeration System market reached a value of USD 72791.77 million in 2022. It’s expected that the market will achieve USD 95574.53 million by 2028, exhibiting a CAGR of 4.64% during the forecast period.

Restraints

The pollution of the refrigerant to the environment is the most important factor restricting the development of the vapor compression refrigeration system market. The impact of common refrigerants on the environment is mainly manifested in the destruction of the ozone layer and the warming caused by the greenhouse effect. Ozone absorbs or reflects ultraviolet light, preventing it from entering the earth's surface. The dynamic balance of ozone concentration in the stratosphere is one of the guarantees of global environmental factors. If it is damaged, it will seriously affect the global environment. Due to the continuous emission of CFCs and other chemical wastes from all over the world, they enter the atmosphere and form chlorine, bromide ions, floating around, and will combine with oxygen ions, the oxygen ions in the atmosphere will gradually decrease, causing the ozone layer to suffer To destruction, it will increase the amount of ultraviolet radiation reaching the earth, causing direct damage to humans, animals and plants.

Therefore, for the vapor compression refrigeration system industry, finding a substance with high refrigeration efficiency and no pollution to the environment is the key to the development of the industry.

Region Overview:

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

Company Overview:

The top three companies are Johnson Controls, United Technologies, Ingersoll-Rand with the revenue market share of 9.79%, 7.68% and 6.88% in 2018.

Johnson Controls, Inc. produces electronics and HVAC equipment. The Company offers HVAC equipment, building automation, security, fire detection, batteries, and other related products, as well as building control systems, energy management, and integrated facility management services.

United Technologies Corporation provides technology products and support services. The Company products include aircraft engines, elevators and escalators, heating and air conditioning equipment, helicopters, aerospace systems, fuel cell systems, and fire safety equipment.

Segmentation Overview:

Among different product types, Air-Cooled segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Commercial Use segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Vapor Compression Refrigeration System market covered in Chapter 3:

Mayekawa
United Technologies
Kobe Steel
Ingersoll-Rand
Lennox International
Danfoss
Clauger
Daikin
GEA
Rivacold
Baltimore Aircoil
Emerson
Güntner Group
Bitzer SE
LU-VE
Johnson Controls

In Chapter 4 and Chapter 14.2, on the basis of types, the Vapor Compression Refrigeration System market from 2018 to 2029 is primarily split into:

Air-Cooled
Water-Cooled

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Vapor Compression Refrigeration System market from 2018 to 2029 covers:

Food Industry
Chemical Industry
Pharmaceutical Industry
Sludge and Waste Drying
Agriculture
Paper and Pulp Industry
Commercial Use
Others

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)