Scroll Compressor Market is projected to experience a robust CAGR of 10.35%
The scroll compressor market is expected to grow at a CAGR of 10.35% during the forecast period.
The scroll compressor market is expected to grow at a CAGR of 10.35% during the forecast period.”
NOIDA, UTTAR PARDESH, INDIA, December 8, 2023 /EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the scroll compressor market is projected to grow at a CAGR of 10.35% between 2021 and 2028.— Knowledge Sourcing Intelligence
The key driving force behind the rapid growth of the scroll compressor market is the increasing demand for cooling solutions in data centers and HVAC equipment.
A scroll compressor is an instrument used in air conditioning systems for compressing air or refrigerant. It is a customized compressor that works in a circular motion rather than up-and-down piston action. Scroll compressors are becoming increasingly common for certain HVAC processes due to their efficiency and are commonly used in precision cooling solutions for data centers to provide compatible temperature control and maximize energy efficiency. Favorable government investments in such cooling solutions for data centers have provided a positive market outlook. For instance, in May 2023, The United States Department of Energy (DOE) announced they are investing $40 million in 15 projects to develop high-performance, energy-efficient cooling solutions for data centers.
The market is experiencing numerous product launches and advancements. For instance, in May 2022, Emerson introduced new Copeland Scroll Compressors for low-temperature cooling applications that are compatible with low GWP A2L and A1 refrigerants. Copeland YF, YFI, and YFJ low GWP scroll compressors have been designed for low temperatures ranging from -40°C to +7°C and are approved for use with a variety of A2L mid-pressure refrigerants including R454A, R454C, and R455A. The YF scroll compressors are completely hermetic design and have been tuned to handle those refrigerants while also operating efficiently and reliably.
Access sample report or view details: https://www.knowledge-sourcing.com/report/scroll-compressors-market
The scroll compressor market, based on type is segmented into three main categories namely single-stage compressor, two-stage compressor, and variable capacity compressor. Single-stage is expected to account for a major share of the scroll compressor market.
The scroll compressor market, based on material is segmented into two main categories namely stainless steel, and aluminum. Stainless steel is expected to grow and account for a major share of the scroll compressor market.
The scroll compressor market, based on end-users is segmented into four main categories namely automotive, food & beverage, medical & pharmaceutical, and others. The automotive is expected to grow and account for a major share of the scroll compressor market.
Asia-Pacific is poised to experience substantial growth. The scroll compressors are mainly used in air conditioning systems in automobiles and countries such as India, China, Japan, and South Korea have become major automotive manufacturing hubs. As vehicle production expands in such major APAC nations, the demand for scroll compressors is also projected to increase to meet the air conditioning needs of vehicles. For instance, according to the Society of Indian Automobile Manufacturers (SIAM), the total number of passenger vehicle sales increased from 30,69,523 to 38,90,114 units in 2022. Additionally, according to the International Organization of Motor Vehicle Manufacturers, in 2022, China’s automotive production increased by 3% whereas South Korea witnessed 9% growth.
The research includes coverage of Atlas Copco AB, Copeland LP (Emerson Electric Co), Ingersoll Rand, Samsung, LG Electronics, Alup Kompressoren, Air Squared, Inc, Danfoss, Panasonic Industry, InvoTech Scroll Technologies Co., Ltd are significant market players in the scroll compressor market.
The market analytics report segments the scroll compressor market using the following criteria:
• By Type
o Single-Stage Compressor
o Two-Stage Compressor
o Variable Capacity Compressor
• By Material
o Stainless Steel
o Aluminum
• By End- User
o Automotive
o Food & Beverage
o Medical & Pharmaceutical
o Others
• By Geography
o North America
• USA
• Canada
• Mexico
o South America
• Brazil
• Argentina
• Others
o Europe
• Germany
• UK
• France
• Spain
• Others
o Middle East and Africa
• Saudi Arabia
• UAE
• Others
o Asia Pacific
• China
• Japan
• South Korea
• India
• Australia
• Others
Companies Profiled:
• Atlas Copco AB
• Copeland LP (Emerson Electric Co)
• Ingersoll Rand
• Samsung
• LG Electronics
• Alup Kompressoren
• Air Squared, Inc
• Danfoss
• Panasonic Industry
• InvoTech Scroll Technologies Co., Ltd
Explore More Reports
• Portable Air Compressor Market: https://www.knowledge-sourcing.com/report/portable-air-compressor-market
• Marine Compressor Market: https://www.knowledge-sourcing.com/report/marine-compressor-market
• Air Compressor Market: https://www.knowledge-sourcing.com/report/air-compressor-market
Ankit Mishra
Knowledge Sourcing Intelligence LLP
+1 850-250-1698
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