What is the Global market size of the Commercial Refrigeration Compressor Market?

Global Commercial Refrigeration Compressor Market size was valued at USD 19.56 billion in 2021 and is poised to grow from USD 20.63 billion in 2022 to USD 29.48 billion by 2030, growing at a CAGR of 5.37% in the forecast period (2023-2030).

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

Report ID: SQMIG20I2205 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 68 | Figures: 75

Commercial Refrigeration Compressor Market News

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Commercial Refrigeration Compressor Market Report Snapshots

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Commercial Refrigeration Compressor Market size was valued at USD 19.56 billion in 2019 and is poised to grow from USD 20.63 billion in 2023 to USD 29.48 billion by 2031, growing at a CAGR of 5.37% in the forecast period (2024-2031).

The commercial refrigeration compressor market is relatively fragmented, with a high level of competition. The market's top corporations frequently change their product portfolios. Additionally, businesses are putting a lot of effort into offering compressors that are both energy-efficient and compliant with low GWP refrigerants. 'Emerson Electric Co.', 'Danfoss A/S', 'Bitzer SE', 'GEA Group AG', 'Johnson Controls International plc', 'Mayekawa Mfg. Co., Ltd.', 'Mitsubishi Electric Corporation', 'Tecumseh Products Company LLC', 'Frascold SpA', 'Dorin S.p.A.', 'Hanbell Precise Machinery Co. Ltd.', 'LG Electronics Inc.', 'Panasonic Corporation', 'The Manitowoc Company, Inc.', 'Kulthorn Kirby Public Company Limited', 'Embraco AS', 'Fusheng Co., Ltd.', 'Huayi Compressor Barcelona, S.L.', 'REFCO Manufacturing Ltd.', 'Shanghai Highly (Group) Co., Ltd.'

The commercial refrigeration compressors market is projected to develop at a substantial income as a result of factors such as the growing population, rising disposable income of the average consumer worldwide, and fast urbanization. More than 54% of the world's population, as reported by the United Nations (UN), resides in urban areas which creates employment opportunities.

Growing popularity of energy-efficient refrigerators: With the growing demand for energy cost-cutting and need for efficient refrigeration systems, commercial refrigeration compressors are becoming more energy-efficient that not only saves bills but helps in reducing the carbon footprint.

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.

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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

Commercial Refrigeration Compressor Market News

Commercial Refrigeration Compressor Market Report Snapshots

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