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Global Refrigerant Compressors Market to reach USD 54.51 billion by the end of 2030

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

Product Code: OIRIME-67232606
Publish Date: 10-03-2024
Page: 200

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:
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:
Ø 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:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Type, Refrigerant, End User Industry, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

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:

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

By End User Industry:
Food and Beverage
Chemical and Petrochemical

By Region:

North America


Asia Pacific
South Korea

Latin America

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

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Refrigerant Compressors Market, by region, 2020-2030 (USD Billion)
1.2.2. Refrigerant Compressors Market, by Type, 2020-2030 (USD Billion)
1.2.3. Refrigerant Compressors Market, by Refrigerant, 2020-2030 (USD Billion)
1.2.4. Refrigerant Compressors Market, by End User Industry, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Refrigerant Compressors Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Refrigerant Compressors Market Dynamics
3.1. Refrigerant Compressors Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Rising demand for cooling systems Growing food and beverage industry Expanding cold chain logistics
3.1.2. Market Challenges Strict government regulations High initial costs and maintenance expenses
3.1.3. Market Opportunities Ongoing advancements in compressor technology Growing HVACR industry
Chapter 4. Global Refrigerant Compressors Market: Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economic
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Refrigerant Compressors Market, by Type
5.1. Market Snapshot
5.2. Global Refrigerant Compressors Market by Type, Performance – Potential Analysis
5.3. Global Refrigerant Compressors Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
5.4. Refrigerant Compressors Market, Sub Segment Analysis
5.4.1. Centrifugal
5.4.2. Rotary
5.4.3. Reciprocating
Chapter 6. Global Refrigerant Compressors Market, by Refrigerant
6.1. Market Snapshot
6.2. Global Refrigerant Compressors Market by Refrigerant, Performance – Potential Analysis
6.3. Global Refrigerant Compressors Market Estimates & Forecasts by Refrigerant 2020-2030 (USD Billion)
6.4. Refrigerant Compressors Market, Sub Segment Analysis
6.4.1. Ammonia
6.4.2. Carbon Dioxide
6.4.3. Hydroflurocarbon (HFC)
6.4.4. Hydrochlorofluorocarbons (HCFC)
6.4.5. Others
Chapter 7. Global Refrigerant Compressors Market, by End User Industry
7.1. Market Snapshot
7.2. Global Refrigerant Compressors Market by End User Industry, Performance – Potential Analysis
7.3. Global Refrigerant Compressors Market Estimates & Forecasts by End User Industry 2020-2030 (USD Billion)
7.4. Refrigerant Compressors Market, Sub Segment Analysis
7.4.1. Food and Beverage
7.4.2. Chemical and Petrochemical
7.4.3. Pharmaceutical
7.4.4. Domestic
7.4.5. Other
Chapter 8. Global Refrigerant Compressors Market, Regional Analysis
8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Refrigerant Compressors Market, Regional Market Snapshot
8.4. North America Refrigerant Compressors Market
8.4.1. U.S. Refrigerant Compressors Market Type breakdown estimates & forecasts, 2020-2030 Refrigerant breakdown estimates & forecasts, 2020-2030 End User Industry breakdown estimates & forecasts, 2020-2030
8.4.2. Canada Refrigerant Compressors Market
8.5. Europe Refrigerant Compressors Market Snapshot
8.5.1. U.K. Refrigerant Compressors Market
8.5.2. Germany Refrigerant Compressors Market
8.5.3. France Refrigerant Compressors Market
8.5.4. Spain Refrigerant Compressors Market
8.5.5. Italy Refrigerant Compressors Market
8.5.6. Rest of Europe Refrigerant Compressors Market
8.6. Asia-Pacific Refrigerant Compressors Market Snapshot
8.6.1. China Refrigerant Compressors Market
8.6.2. India Refrigerant Compressors Market
8.6.3. Japan Refrigerant Compressors Market
8.6.4. Australia Refrigerant Compressors Market
8.6.5. South Korea Refrigerant Compressors Market
8.6.6. Rest of Asia Pacific Refrigerant Compressors Market
8.7. Latin America Refrigerant Compressors Market Snapshot
8.7.1. Brazil Refrigerant Compressors Market
8.7.2. Mexico Refrigerant Compressors Market
8.8. Middle East & Africa Refrigerant Compressors Market
8.8.1. Saudi Arabia Refrigerant Compressors Market
8.8.2. South Africa Refrigerant Compressors Market
8.8.3. Rest of Middle East & Africa Refrigerant Compressors Market

Chapter 9. Competitive Intelligence
9.1. Key Company SWOT Analysis
9.1.1. Company 1
9.1.2. Company 2
9.1.3. Company 3
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. BITZER Group Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.3.2. Tecumseh Products Company
9.3.3. LG Electronics
9.3.4. Johnson Controls
9.3.5. samsung electronics co., ltd.
9.3.6. Mitsubishi Electric Corporation
9.3.7. Carrier Global Corporation
9.3.8. Copeland LP
9.3.9. Panasonic Holdings Corporation
9.3.10. Danfoss A/S
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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