Refrigerant Compressors Market by Compressor Type, Construction Type, Cooling Capacity, Refrigerant Used, Application

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[195 Pages Report] The Refrigerant Compressors Market size was estimated at USD 43.24 billion in 2023 and expected to reach USD 45.89 billion in 2024, at a CAGR 6.21% to reach USD 65.96 billion by 2030.

A refrigerant compressor is a crucial component of a refrigeration or air conditioning system designed to increase the pressure and temperature of the refrigerant gas. This system is an integral part of various industries, such as heating, ventilation, air conditioning (HVAC), automotive, commercial, and industrial refrigeration. In HVAC systems installed in residential and commercial buildings, the efficient operation of refrigerant compressors is essential for energy conservation and optimizing cooling capacities. Innovations in electric vehicle (EV) technology have propelled advancements in compressor systems designed specifically for EVs. However, the high initial cost of energy-efficient compressors may deter potential buyers from adopting these products. The stringent quality standards regarding compressors impact the development phase of the products. Market players are working on understanding the changing quality regulations while introducing cost-efficient models to enable easy utilization of refrigerant compressors. Additionally, manufacturers are exploring the Internet of Things (IoT) enabled HVAC systems as more consumers demand smart appliances with remote monitoring capabilities and predictive maintenance features.

KEY MARKET STATISTICS
Base Year [2023]	USD 43.24 billion
Estimated Year [2024]	USD 45.89 billion
Forecast Year [2030]	USD 65.96 billion
CAGR (%)	6.21%

Compressor Type: Centrifugal compressors to face exponential demand from large-scale industrial sectors

Centrifugal compressors are preferred for large-scale commercial and industrial cooling applications due to their increased efficiency at high flow rates and low noise levels. Reciprocating compressors are widely used in small to medium-sized residential and commercial cooling systems for their reliability, durability, and adaptability to varying loads. Rotary vane compressors are ideal for low-capacity refrigeration systems, such as small commercial and residential air conditioners, due to their compact size and quiet operation. Screw compressors are suitable for medium to large cooling capacities in industrial and commercial applications due to their energy efficiency and ability to handle high load fluctuations. Scroll compressors are highly preferred in residential and light commercial applications owing to their high efficiency at part-load conditions, low noise levels, and minimal maintenance requirements.

Application: Increasing utilization of eco-friendly refrigerant compressors for energy-efficient operations in industries and commercial activities

Refrigerant compressors are employed in various commercial sectors, including retail, hospitality, healthcare, and office spaces. In industrial applications, such as food processing plants or petrochemical factories, refrigerator compressors cater to large-scale cooling needs where extreme precision and high capacity are necessary requirements. In residential applications, refrigerant compressors are commonly found in household air conditioning systems or heat pumps that provide comfort and convenience for occupants. The primary concern in this sector is energy efficiency, low noise emissions, and affordability.

Construction Type: Increasing demand for open compressors for larger-scale cold storage applications

Refrigerant compressors are vital components in cooling systems and are classified into hermetic, open, and semi-hermetic compressors based on construction types. Hermetic compressors, also known as sealed compressors, are designed with the motor and compressor elements enclosed within a single welded casing. This design increases reliability while reducing the potential for refrigerant leakage and makes it ideal for residential and small-scale commercial applications such as air conditioning systems and refrigerators.

Open compressors comprise separate motor and compressor units connected by a shaft seal assembly, allowing easier maintenance and repair due to accessible individual components. These compressors are utilized in large-scale industrial settings such as supermarkets or cold storage facilities owing to their higher cooling capacities. Semi-hermetic compressors combine features of both hermetic and open designs, as the motor and compressor components are enclosed within a bolted casing that can be opened for maintenance or repair. They offer improved accessibility compared to hermetic compressors while maintaining a sealed environment to prevent refrigerant leakage. Semi-hermetic compressors are commonly used in medium-scale commercial applications such as supermarkets, hotels, and data centers.

Cooling Capacity: Growing demand for less than 100 kW cooling capacity compressors

The refrigerant compressor market is segmented based on cooling capacity into three categories, including 100 - 400 kW, above 400 kW, and Less than 100 kW. Refrigerant compressors with 100 - 400 kW cooling capacity cater to medium-sized industrial facilities, large commercial buildings, data centers, and manufacturing plants. Compressors with a cooling capacity exceeding 400 kW are used in large-scale industrial processes such as chemical plants or steel mills needing heavy-duty cooling systems, district cooling networks, or mega infrastructure projects such as airports or sports stadiums. The less than 100 kW cooling capacity segment caters to small-scale commercial applications such as restaurants, supermarkets, or residential air conditioning systems.

Refrigerant Used: Growing emphasis on an eco-friendly refrigerant alternative

Refrigerant compressors are crucial components in air-conditioning and refrigeration systems, with the choice of refrigerant significantly impacting efficiency and leading to environmental consequences. CO2 (R744) has emerged as an eco-friendly alternative owing to low global warming potential (GWP) and zero ozone depletion potential (ODP). One significant advantage of using CO2 as a refrigerant is its excellent heat transfer properties, contributing to higher energy efficiency. R290 (Propane) is another green option characterized by low GWP and zero ODP. Its thermodynamic properties suit commercial and residential air-conditioning systems and refrigeration applications such as walk-in coolers. Reduced discharge temperatures also improve compressor lifespan. R410A is commonly used in residential, commercial, and industrial air-conditioning systems despite its moderate GWP of 2088. It exhibits excellent thermodynamic performance characteristics, contributing to energy efficiency while being non-flammable for safer applications. CO2 and R290 offer superior environmental performance, and R410A provides reliable operational performance but faces regulatory challenges. Ongoing innovation from major manufacturers enhances the efficiency and sustainability of compressors across applications.

Regional Insights

In the Americas, demand for refrigerant compressors is driven predominantly by the heating, ventilation, air conditioning (HVAC), and refrigeration equipment utilization in residential and commercial sectors. Regulatory measures such as the U.S. Environmental Protection Agency's (EPA) SNAP program have encouraged manufacturers to develop more environmentally friendly refrigerant compressor technologies as energy efficiency becomes increasingly important in North America. Asia represents a rapidly growing market for refrigerant compressors due to ongoing industrialization activities. The Asian market is characterized by intense competition among local manufacturers and international players with established production facilities in countries such as Japan and China. The European refrigerant compressors market is characterized by its focus on energy efficiency, stringent regulatory policies, and demand for technologically advanced compressor solutions. This region strongly emphasizes sustainable practices, with countries including Germany, France, Italy, and the United Kingdom leading the way in adopting green technologies for HVAC systems.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Refrigerant Compressors Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Refrigerant Compressors Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Refrigerant Compressors Market, highlighting leading vendors and their innovative profiles. These include Atlas Copco AB, Baker Hughes Company, BITZER Kuhlmaschinenbau GmbH, Burckhardt Compression AG, Carrier Global Corporation, Daikin Industries, Ltd., Danfoss A/S, Dunham-Bush Holding Bhd, Emerson Electric Co., GEA Group AG, Hanbell Precise Machinery Co. Ltd., Hangzhou Qianjiang Refrigeration Group Co.Ltd., Hitachi, Ltd., Huayi Compressor Co.,Ltd., Hubei Donper Electromechanical Group Co., Ltd, Ingersoll Rand Inc., Jiaxipera Compressor Co.Ltd., Johnson Controls International PLC, Kirloskar Pneumatic Company Limited, Kulthorn Kirby Company Limited, LG Corporation, Midea Group Co., Ltd., Mitsubishi Heavy Industries, Ltd., Mueller Industries, Nidec Corporation, Officine Mario Dorin S.p.A., Panasonic Holdings Corporation, Robert Bosch GmbH, Samsung Electronics Co., Ltd., Siemens AG, and Tecogen, Inc..

Market Segmentation & Coverage

This research report categorizes the Refrigerant Compressors Market to forecast the revenues and analyze trends in each of the following sub-markets:

Compressor Type
- Centrifugal Compressors
- Reciprocating Compressors
- Rotary Vane Compressors
- Screw Compressors
- Scroll Compressors

Construction Type
- Hermetic
- Open
- Semi-hermetic

Cooling Capacity
- 100 - 400 kw
- Above 400 kw
- Less than 100 kW

Refrigerant Used
- CO2
- R290
- R410A

Application
- Commercial
- Industrial
  - Chemical
  - Food & Beverages
  - Logistics & Transportation
  - Pharmaceuticals

Residential

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Refrigerant Compressors Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Refrigerant Compressors Market?

3. What are the technology trends and regulatory frameworks in the Refrigerant Compressors Market?

4. What is the market share of the leading vendors in the Refrigerant Compressors Market?

5. Which modes and strategic moves are suitable for entering the Refrigerant Compressors Market?

Product Code: MRR-43676CF42A94

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing production and sales of gas-based and electric vehicles
  - 5.1.1.2. Government initiatives promoting the use of energy-efficient HVAC systems
  - 5.1.1.3. Rising use across large-scale oil & gas exploration and production activities
- 5.1.2. Restraints
  - 5.1.2.1. Need for frequent maintenance owing to failure of the system
- 5.1.3. Opportunities
  - 5.1.3.1. Emerging popularity of advanced oil-free and variable-speed compressors
  - 5.1.3.2. Introduction of IoT monitoring and predictive maintenance for refrigerant compressors
- 5.1.4. Challenges
  - 5.1.4.1. Stringent quality and performance standards for refrigerant compressors
5.2. Market Segmentation Analysis
- 5.2.1. Compressor Type: Centrifugal compressors to face exponential demand from large-scale industrial sectors
- 5.2.2. Application: Increasing utilization of eco-friendly refrigerant compressors for energy-efficient operations in industries and commercial activities
- 5.2.3. Construction Type: Increasing demand for open compressors for larger-scale cold storage applications
- 5.2.4. Cooling Capacity: Growing demand for less than 100 kW cooling capacity compressors
- 5.2.5. Refrigerant Used: Growing emphasis on an eco-friendly refrigerant alternative
5.3. Market Trend Analysis
- 5.3.1. Thriving HVAC industry along with an increasing focus on innovation and meeting regulatory requirements
- 5.3.2. Increasing production and export capabilities of refrigerant compressors in the Asia-Pacific region
- 5.3.3. Increasing application of refrigerant compressors in the logistics & transportation and oil & gas in the EMEA region
5.4. Cumulative Impact of Russia-Ukraine Conflict
5.5. Cumulative Impact of High Inflation
5.6. Porter's Five Forces Analysis
- 5.6.1. Threat of New Entrants
- 5.6.2. Threat of Substitutes
- 5.6.3. Bargaining Power of Customers
- 5.6.4. Bargaining Power of Suppliers
- 5.6.5. Industry Rivalry
5.7. Value Chain & Critical Path Analysis
5.8. Regulatory Framework Analysis

6. Refrigerant Compressors Market, by Compressor Type

6.1. Introduction
6.2. Centrifugal Compressors
6.3. Reciprocating Compressors
6.4. Rotary Vane Compressors
6.5. Screw Compressors
6.6. Scroll Compressors

7. Refrigerant Compressors Market, by Construction Type

7.1. Introduction
7.2. Hermetic
7.3. Open
7.4. Semi-hermetic

8. Refrigerant Compressors Market, by Cooling Capacity

8.1. Introduction
8.2. 100 - 400 kw
8.3. Above 400 kw
8.4. Less than 100 kW

9. Refrigerant Compressors Market, by Refrigerant Used

9.1. Introduction
9.2. CO2
9.3. R290
9.4. R410A

10. Refrigerant Compressors Market, by Application

10.1. Introduction
10.2. Commercial
10.3. Industrial
10.4. Residential

11. Americas Refrigerant Compressors Market

11.1. Introduction
11.2. Argentina
11.3. Brazil
11.4. Canada
11.5. Mexico
11.6. United States

12. Asia-Pacific Refrigerant Compressors Market

12.1. Introduction
12.2. Australia
12.3. China
12.4. India
12.5. Indonesia
12.6. Japan
12.7. Malaysia
12.8. Philippines
12.9. Singapore
12.10. South Korea
12.11. Taiwan
12.12. Thailand
12.13. Vietnam

13. Europe, Middle East & Africa Refrigerant Compressors Market

13.1. Introduction
13.2. Denmark
13.3. Egypt
13.4. Finland
13.5. France
13.6. Germany
13.7. Israel
13.8. Italy
13.9. Netherlands
13.10. Nigeria
13.11. Norway
13.12. Poland
13.13. Qatar
13.14. Russia
13.15. Saudi Arabia
13.16. South Africa
13.17. Spain
13.18. Sweden
13.19. Switzerland
13.20. Turkey
13.21. United Arab Emirates
13.22. United Kingdom

14. Competitive Landscape

14.1. Market Share Analysis, 2023
14.2. FPNV Positioning Matrix, 2023
14.3. Competitive Scenario Analysis
- 14.3.1. Baker Hughes to Supply Liquefaction Equipment to Driftwood LNG
- 14.3.2. DAIKIN ESTABLISHES NEW AC PRODUCTION BASE IN TSUKUBAMIRAI CITY, IBARAKI, JAPAN
- 14.3.3. Beijer Ref enters the South Korean market through the acquisition of DS Maref
- 14.3.4. Dorin Launches New Range of Industrial Transcritical CO2 Compressors
- 14.3.5. Baker Hughes Announces Major LNG Order from QatarEnergy for the North Field South (NFS) Project
- 14.3.6. LG Electronics India starts local manufacturing of Dual Inverter Air Conditioner Compressors

Invests approximately INR 100 crores

14.3.7. Emerson Electric Co. Launches 'Industry-First' Transcritical CO2 Screw Compressor for Industrial Applications at IIAR Show
14.3.8. Danfoss Completes Acquisition of Compressor Manufacturer
14.3.9. The new Secop BD Nano compressor is now available for R1234yf and R134a
14.3.10. Mitsubishi Electric to Build Plant in India for Room Air Conditioners and A/C Equipment Compressors

15. Competitive Portfolio

15.1. Key Company Profiles
15.2. Key Product Portfolio