The USA refrigeration compressor market is expected to rise at nearly 3.0% CAGR over the forecast period.

NEWARK, DELAWARE, UNITED STATES OF AMERICA, October 27, 2023 /EINPresswire.com/ -- According to Future Market Insights, the global refrigeration compressor market size is expected to reach US$ 37,597.8 Million in 2022 and further grow at 3.6% CAGR between 2022 and 2032. Overall sales of refrigeration compressors are projected to total a valuation of US$ 53,732.1 Million by 2032.

Rising applications of refrigeration compressors in residential, commercial, healthcare, industrial, and transportation sectors is a key factor driving the global market forward.

Similarly, sales of refrigeration compressors are increasing as a result of factors like rising demand for FMCG goods, organized retail store demand, increasing consumption of processed foods, and growing demand from cold chain infrastructure.

Due to their perishable nature, a large number of FMCG products need to be stored in cold temperatures. Suitable refrigeration systems are required for storing packaged goods and beverages. There has been an increase in demand for fast-moving consumer goods during the past few decades. To meet this rising demand, producers are increasing their production capacity, constructing new facilities, and implementing cutting-edge technology like compressors for refrigeration. As the need for FMCG products rises internationally, the refrigeration compressor market is expected to grow at a steady pace over the next ten years.

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Furthermore, growing usage of refrigeration in horticulture and other related industries are expected to fuel market demand. The demand for refrigeration compression is also being driven by the quick global expansion of the cold chain infrastructure.

The need for refrigeration compressors is expanding as the food trade in emerging countries expands quickly due to a strong cold chain infrastructure and warehouses. There will be more opportunities for the refrigeration compressor industry as a result of the rising demand for small cold storage systems for frozen and perishable food delivery services.

Key Takeaways from Refrigeration Compressor Market Report:

By type, reciprocating segment is projected to hold the highest share of around 62.8% in terms of volume in 2022.

Based on refrigerant type, the R134A refrigerant type segment is projected to grow at a CAGR of 2.0% between 2022 and 2032.

By application, the residential segment is anticipated to create an absolute $ opportunity worth US$ 7,383 Million during the forecast period.

By 2032, East Asia is expected to hold the largest share of 28.1% in the global market.

The U.S. refrigeration compressor market is poised to expand at 3.0% CAGR over the forecast period, reaching a market valuation of US$ 10,313.4 Million by the end of 2032.

China's refrigeration compressor market is anticipated to rise at 2.8% CAGR between 2022 and 2032.

"The expansion of refrigeration compressors is being primarily driven by the rising demand from end-use sectors like residential, transportation, commercial, and healthcare sectors. Besides this, rise in food export and transportation business sector is likely to propel the market over the next ten years” Says Nikhil Kaitwade, Associate Vice President at Future Market Insights, Inc.

Key Companies Profiled:

Nidec Corporation
Emerson Electric Co.
GEA Group AG
The Danfoss Group
Midea Group
Tecumseh Products Company LLC.
Mitsubishi Electric Corporation
LG Electronics, Inc.
Changhong Huayi Compressor Co., Ltd.
Panasonic Corporation
Frascold S.p.A.
Johnson Controls–Hitachi Air Conditioning
Carrier Corporation

Key manufacturers are focusing on increasing their regional market and are involved in marking their direct presence in the local markets by expanding their dealer network. They are also collaborating with local distributors to supply their products globally.

More Insights into PCR Bottles Market Report

The research report analyses the market demand trend for Refrigeration compressors. The global market is based on COVID-19 impact, macroeconomic factors, market trends & market background. As per Future Market Insights’ research scope, the Refrigeration compressor report is studied and analyzed in the following segments such as type, refrigerant type application, and Region. The Refrigeration compressor report gives us qualitative and quantitative information about the companies.

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Global Refrigeration Compressor Market Segmentation:

By Product Type:

Reciprocating
Rotary
Scroll
Screw
Centrifugal

By Refrigerant Type:

R410A
R407C
R404A
R134A
R290
R600a
Others

By Application:

Residential
Commercial
Medical & Healthcare
Industrial
Transportation

By Region:

North America
Latin America
Europe
South Asia & Pacific
East Asia
Middle East and Africa

Author By:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

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Refrigeration and Air Conditioning Compressors Market Size: This Market is estimated to secure a CAGR of 3% during the forecast period. The market registered a valuation of US$ 35.1 billion in 2023 and reached US$ 47.2 billion by 2033.

Commercial Refrigeration Compressor Market Growth: The Global Market is set to reach US$ 38,687.2 million in 2023. Overall sales of commercial refrigeration compressors are likely to surge at 4.3% CAGR, taking the forecasted market valuation to US$ 58,940.03 million by the end of 2033.

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.

Ankush Nikam
Future Market Insights, Inc.
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