Refrigerant Compressors Market Analysis by Trends, Forecasts and Regions

The refrigerant compressors market is expected to register exponential growth by 2027 on account of rapid urbanization in developing countries.
A refrigerant compressor is essential to the refrigeration cycle because it acts as a pump to manage refrigerant circulation and adds pressure to the refrigerant, which causes heating of the refrigerant. Before transferring the vapor to the condenser, the compressor takes it away from the evaporator to keep the pressure and temperature low. Surging demand for cold storage facilities, especially across medical and pharmaceutical sectors, has driven industry uptake in recent years.
Moreover, industry players have been adopting lucrative strategies to gain a competitive edge in evolving marketplaces, which has positively impacted overall business dynamics. For instance, in March 2021, Emerson, a U.S.-based technology and engineering company, launched its variable speed reciprocating hermetic compressors, dubbed Copeland. The novel hermetic compressor models have been designed to reduce energy and increase performance in a wide range of demanding commercial refrigeration applications.
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Similarly, in December 2021, Secop GmbH, a leading manufacturer of hermetic compressors, launched its new range of hermetic compressors that offer improved robustness, compatibility with the Ethan (R170) refrigerant, and ultra-low temperature technology. The new dedicated compressor line is designed for the safe storage, transport, and handling of highly sensitive items, such as medications, vaccines, cells, blood, and so on.
The refrigerant compressors market has been segregated on the basis of application, type, capacity, construction, and region. With respect to type, the market has further been categorized into dynamic displacement and positive displacement.
Under positive displacement, the market has been divided into rotary and reciprocating. The reciprocating segment is slated to reach a sizable valuation by 2027, expanding at a CAGR of more than 4.5% over the forecast period.
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Based on construction, the refrigerant compressors market has been segmented into semi-hermetic, open, and hermetic. The semi-hermetic segment is speculated to grow at around 5% CAGR through the analysis timeline.
Based on capacity, the market has been bifurcated into less than 100 kW, 100-400 kW, and above 400 kW. The refrigerant compressors market from the above 400 kW segment is set to expand substantially in volume by 2027, progressing at a CAGR of approximately 3.5% over the assessment period.
In terms of application, the refrigerant compressors market has been classified into transport, domestic, mobile, commercial, and industrial. In 2020, the mobile segment was valued at nearly USD 13 billion and is anticipated to witness robust growth through the study timeline.
On the regional front, the Europe refrigerant compressors market attained a considerable valuation of more than USD 15 billion in 2020 and is projected to observe optimistic expansion over 2021-2027.