Refrigeration and Air Conditioning Compressors Market Analysis by Size, Share, Growth Factors and Opportunities by 2033

Posted on 2024-03-05 by Future Market Insights in Industrial // 0 Comments

The refrigeration and air conditioning compressors market is securing a CAGR of 3% during the forecast period. The market is anticipated to capture a valuation of US$ 35.1 billion in 2023 and is predicted to reach US$ 47.2 billion by 2033.

Refrigeration and air conditioning compressors are integral components of cooling systems, responsible for compressing refrigerant gases to facilitate heat transfer and maintain desired temperatures.

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Growth Factors

In recent decades, the demand for packaged and processed food products has witnessed a significant surge, prompting food and beverage manufacturers to ramp up their production capabilities. To meet this escalating demand, companies are investing in expanding their production capacity, setting up new facilities, and embracing advanced technologies, including refrigeration and air conditioning compressors.

Refrigeration and air conditioning compressors have emerged as indispensable tools for preserving and prolonging the shelf life of food products. They are now being widely adopted by food and beverage manufacturers to regulate and maintain optimal temperatures within their facilities. By ensuring precise temperature control, these compressors play a crucial role in preserving the freshness, quality, and safety of food products throughout the production and storage processes.

Key Takeaways:

In the historical period, the market captured a CAGR of 2.4% in 2022.
The United States is estimated to lead the global market by securing a share of 18.2% by 2033.
Germany is significantly growing the global market size by capturing a share of 4.9% during the forecast period.
With a share of 3.2%, Japan is anticipated to drive the global market during the forecast period.
Australia is projected to capture a share of 2.1% in the global market by 2033.

Key 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

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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

Explore FMI’s Extensive Ongoing Coverage on Industrial Automation Domain

Refrigeration Coolers Market Share is expected to have a moderate CAGR of 5.6% during the forecast period.
Refrigeration Compressor Market Size exhibiting a CAGR of 3.6% throughout the forecast period.
Air Conditioning Systems Market Demand is expected to reach US$ 223.4 Billion by 2033, with a steady growth rate of 6.21%.
Air Conditioning Compressor Market Growth is expected to reach US$ 42,413.6 Million by 2032.
Industrial Robotic Motors Market Outlook is expected to expand at a CAGR of 14% during the forecast period 2023 to 2033 and, reach US$ 4.6 billion by 2033.

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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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