The global air conditioning compressor industry is expected to be valued at USD 25,941.3 Million in 2022 and further grow at 5.0% CAGR between 2022 and 2032. Overall sales of air conditioning compressors are projected to total a valuation of USD 42,413.6 Million by 2032.
Air conditioning compressor sales are increasing as the world’s infrastructure sector develops. The GDP of the entire world depends heavily on infrastructure. Due to the significant contribution of emerging and developing economies to global economic growth, it is expected that the need for air conditioning compressors will increase dramatically during the forthcoming decade.
Air conditioning compressors find application in homes, workplaces, hospitals, entertainment venues, automobiles, and other commercial and industrial buildings. Many people in developing nations view air conditioning as a luxury product for the home.
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Because of reasons like rising population, falling AC prices, increasing disposable income, and changing consumer lifestyles, a positive growth trajectory for air conditioning compressor industry has been predicted by FMI for the projection period.
Similarly, there is an increasing need for air conditioners everywhere, particularly in urban areas, as a result of increased air pollution, high temperatures, and humidity levels. Fluctuation in temperature is prompting people to install cooling units in their buildings. This will continue to boost the air conditioning compressor industry demand during the assessment period.
Key Takeaways from the Air Conditioning Compressor Industry Report:
- Based on type, rotary type is projected to hold the highest share of 56.8% in terms of volume in 2022.
- By refrigerant type, the R290 refrigerant segment is expected to grow at a CAGR of 4.5% during the forecast period.
- By application, the residential sector is projected to lead the Air conditioning compressor industry, creating an absolute $ opportunity worth US$ 1,069.0 Million during the forecast period.
- By 2032, East Asia is expected to have the largest share of around 33.1% in the global air conditioning compressor industry.
- China’s air conditioning compressor industry is projected to grow at 4.9% CAGR during the forecast period,
- The U.S. air conditioning compressor industry is likely to create an incremental opportunity of nearly US$ 2,042.5 Million by 2032.
Leading Key Players:
- Emerson Electric Co.
- Daikin Industries Ltd.
- LG Electronics
- The Danfoss Group
- Tecumseh Products Company LLC
- Panasonic Corporation
- GEA Group AG
- Johnson Controls–Hitachi Air Conditioning
- BITZER SE
- Midea Group(GMCC)
- Officine Mario Dorin S.p.A.
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Air Conditioning Compressor Industry Segmentation:
By Type:
- Rotary
- Screw
- Scroll
- Centrifugal
- Reciprocating
By Refrigerant Type:
- R410A
- R22
- R404A
- R134A
- R290
- R32
- Others
By Application:
- Residential
- Commercial
- Medical & Healthcare
- Industrial
- Transportation
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and the Pacific
- Middle East & Africa
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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 stands as 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.
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