Refrigerant Compressors Market Size is valued at USD 3.27 Billion in 2022 and expected to reach USD 4.74 Billion by 2029 with a CAGR of 5.43% over the forecast period.
Refrigerant Compressor is nothing but the center of the refrigeration cycle. The refrigerant compressor is the critical equipment in the Liquified Natural Gas (LNG) plant. The refrigeration compressors work as a pump to control the circulation of the refrigerant and it creates pressure on the refrigerant by heating it up. For maintaining a lower pressure before sending it to the condenser the compressor takes away vapor from the evaporator. With the refrigeration cycle, anyone can understand the refrigeration compressor function. A refrigeration cycle consists of the transformation of a liquid to a gas and vice versa.
There are five main steps for refrigeration circuits as Evaporation, Compression, Condensing, Receiving, and Expansion. The control schemes used for the refrigerant compressors depend on the driver that is selected for them. The Majority of the drivers used in the Liquified Natural Gas (LNG) process are Gas Turbines, i.e. frame-type Turbines and aero-derivative turbines. Refrigerant compressors are mainly used in refrigeration, heat pumps, and air conditioning applications such as food processing, pharmaceutical manufacturing, and ice rinks and arenas.
The Refrigerant Compressors Market is segmented into product type and Application. On the basis of product type the market is segmented into Rotary Compressors, Scroll Compressors, Reciprocating Compressors, Screw Compressors, and Centrifugal Compressors. On the basis of application, the market is segmented into Domestic, Small Commercial, Commercial and Industrial.
The regions covered in this Refrigerant Compressors Market report are North America, Europe, Asia-Pacific, and the Rest of the World. On the basis of country level, the market of Hall Effect Sensor is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Globally Manufacturers such as
For maintaining good air quality and to deliver thermal comfort there is the use of HVAC systems and this is for providing sufficient ventilation in an automobile. Hence there is an increase in the use of HVAC systems in the Automotive Industry which is driving the refrigerant compressors market. HVAC system supports to keep the ambient environment inside the four-wheelers. Moreover increasing cold storage industries across the world is significantly contributing to the growth of the market.
Also, the growing construction of new cold storage warehouses which includes modern technologies is fueling the market growth. According to Global Cold Storage Capacity Report in 2018, about 616 million cubic meters a mean 2.67% capacity reported the total capacity of refrigerated warehouses worldwide in 2016. India has 150 million cubic meters, followed by the United States at 131 million cubic meters, and China at 105 million cubic meters hence there is the installation of new refrigerant equipment in cold storage warehouses owing to the demand multiple rack compressor systems.
Geographically, the Asia Pacific region has new emerging countries that are showcasing a higher degree of economic growth are mostly located in the tropical areas. There is a continuous demand for air cooling for comforting the population in these regions and this is because of the presence of tropical areas. Organization for Economic Co-operation and Development(OECD) projects have estimated that there will be about 3 billion middle-classes by 2030 in East Asia. this expansion of the middle-class economy and better income thresholds are offering more opportunities for utilizing refrigerators and AC’s which will boost the growth of the market.
Moreover, the North American region dominates the market growth due to the expansion of cold chain logistics for the transportation of meat and marine products, dairy products, confectioneries, and ice cream. Also, the regional government bodies offer funding opportunities for the installation of lower emission refrigeration systems. These factors propel the demand for refrigerant compressors market for the forecast period.
Middle East and Africa
|2015 - 2022
|2022 - 2029
|Market Size in 2022:
|USD 3.27 Billion
|Base year considered
|Forecast Period CAGR %:
|Market Size Expected in 2029:
|USD 4.74 Billion
|Tables, Charts & Figures:
|Refrigerant Compressor Manufacturers
|GMCC,Landa,Embraco,Panasonic,LG,RECHI Group,Samsung,Johnson Controls-Hitachi,Emerson,Highly,Secop,Tecumseh,FISCHER,Carlyle Compressors,FRASCOLD,Bitzer,Hanbell,Fusheng Industrial,GEA Bock,Others
|By Product Type, By Application
|North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa
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