Refrigeration and Air Conditioning Compressors Market Surging to US$ 47.2 Billion by 2033: FMI Analysis

During the projected period, the market for compressors for refrigeration and air conditioning is anticipated to grow at a CAGR of 3%. In 2023, the market was valued at US$ 35.1 billion, and by 2033, it had grown to US$ 47.2 billion.

As per the findings of the report, the global refrigeration and air conditioning compressors market is expected to experience substantial growth during the forecast period due to multiple driving factors such as increasing retail stores across the globe.

Request For Sample Report: Elevate Your Industry Intelligence with Actionable Insights
 https://www.futuremarketinsights.com/reports/sample/rep-gb-7040

East Asia to Offer Lucrative Opportunities

Europe and North America regions are projected to hold significant shares in the global refrigeration and air conditioning compressors market. However, the East Asia market is anticipated to project rewarding growth in the global refrigeration and air conditioning compressors market over the forecast period of 2022-2029.

This is driven by the rapid growth of the food & beverages industry coupled with the rising number of cold supply chain facilities and warehouses in the countries of East Asia such as China and South Korea.

Additionally, macroeconomic factors such as urbanization, growing population, increasing purchasing power of middle-class population, and rising standard of living are some of the other factors that are boosting the growth of the refrigeration and air conditioning compressors market.

Residential Industry to Remain Key Consumer of Refrigeration and Air Conditioning Compressors

The global refrigeration and air conditioning compressors market has been segmented on the basis of cooling capacity, types of compressors, their multiple applications, refrigerant, end-use, and regions such as North America, Europe, Latin America, East Asia, South Asia, Oceania, and Middle East and Africa.

  • By product, the rotary vane type of the refrigeration and air conditioning compressor segment is estimated to hold significant value shares of the global refrigeration and air conditioning compressors market.
  • On the basis of cooling capacity, the less than 5 kW segment is projected to consume the majority share of the global automotive lighting market value. However, the 30 to 100 kW segment is estimated to project rapid growth in the global refrigeration and air conditioning compressor market.
  • By application, the residential segment is estimated to hold a significant value share of the global refrigeration and air conditioning compressors market. This segment is likely to be prominent in the global refrigeration and air conditioning compressors market across all regions. However, the commercial segment is anticipated to grow at a high CAGR during the forecast period. Transportation and medical & healthcare applications are also growing at a moderate CAGR during the forecast period.

Other Essential Players in the Global Market are

  • Emerson Electric Co.
  • Danfoss Group
  • Huayi Compressor Co., Ltd.
  • Mitsubishi Electric Corporation
  • Nidec Corporation
  • Midea Group
  • Panasonic Corporation
  • LG Electronics, Inc.
  • United Technologies Corporation
  • MAYEKAWA MFG. CO., LTD.
  • GEA Group AG
  • Daikin Industries Ltd.
  • CAREL Industries S.p.A

Seize this Opportunity for Detailed Market Intel: Purchase Now to Access Comprehensive Segmented Information, Identify Key Trends, Drivers, and Challenges
https://www.futuremarketinsights.com/checkout/7040

Key Segments in the Refrigeration and Air Conditioning Compressors Market

Cooling Capacity:

  • Less than 5 kW
  • 5 to 30 kW
  • 30 to 100 kW
  • 100 to 300 kW
  • 300 to 500 kW
  • 500 to 1000 kW
  • Above 1000 kW

Product Type:

  • Rotary Vane
  • Scroll
  • Reciprocating
  • Screw
  • Centrifugal

Refrigerant Type:

  • R410A
  • R407C
  • R404A
  • R134A
  • R290
  • R744
  • Others

Application:

  • Residential
  • Commercial
  • Medical & Healthcare
  • Industrial
  • Transportation

End Use:

  • Refrigeration
  • Air Conditioning

Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • The Middle East and Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:        

Nandini Singh Sawlani   

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: 
sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedInTwitterBlogs | YouTube

About the Author

Ronak Shah

Associate Vice President at Future Market Insights is deeply committed to uncovering actionable insights for consumer and food and beverage players. She brings a unique blend of analysis, industry trends, and consumer behavior to put data into perspective.

What she makes out of data becomes a delight to read. She has authored many opinions, including for publications like Process Industry Informer and Spinal Surgery News, as she understands the market pulse and consumers' shifting preferences.

She likes to bring experts to a roundtable to weigh the impact of a trend on an industry. Catch up with her discussion on the impact of AI in packaging.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may also like these