Commercial Refrigeration Compressor Market Size, Share, Growth Analysis, By Type(Reciprocating, Scroll, Rotary, Centrifugal), By Application(Refrigerator, freezer, Refrigerated Display Cases, Transport Refrigeration), By Region - Industry Forecast 2024-2031

Owing to its substantial and expanding population, Asia-Pacific is one of the top markets for refrigeration compressors. The consumption of refrigeration compressors will be driven by the increasing urbanisation and development in disposable income in order to meet its cooling requirements. North America is a significant market with impressive demand growth. This is due to the transportation and cold storage of goods like dairy, meat, and fresh foods as retail businesses are booming worldwide. 

The US is anticipated to have the largest market share and the highest CAGR throughout the projection period. The market here is being driven by the increased demand for medications, fresh food goods, and beverages as well as government attempts to phase out HCFCs and use natural refrigerants in a variety of refrigeration applications.

India is anticipated to develop at a CAGR of 6.3% between 2022 and 2032. The demand for packaged and frozen foods is driven by population increase, rising consumer purchasing power, and changing lifestyles. By 2030, it is anticipated that the Indian retail market will surpass USD two trillion. The need for commercial refrigeration compressors in India is anticipated to increase as a result. There is huge potential in the Indian market for refrigerator compressors as a result of the expansion of retail outlets. The retail industry, including grocery stores, supermarkets, and hypermarkets are using a lot of commercial refrigerators and freezers.