Commercial Refrigeration Compressors Market is reaching a valuation of US$ 4.87 Bn by 2029 - Comprehensive Research Report by FMI
January 14, 2022
Commercial Refrigeration Compressors Market - Analysis, Outlook, Growth, Trends, Forecasts
/EIN News/ -- DUBAI, United Arab Emirates, Jan. 14, 2022 (GLOBE NEWSWIRE) -- The global commercial refrigeration compressors market is estimated to be worth around US$ 3.59 Bn in 2022. With surging demand from food and beverages industry, the overall market is projected to expand at a moderate CAGR of 4.5% between 2022 and 2029, reaching a valuation of US$ 4.87 Bn by 2029.
The global Commercial Refrigeration Compressors Market is expected to show promising growth, with a value CAGR of higher then 4.5% over 2022-2029. An increase in food & beverage production, along with the expansion of cold chain capacities to ensure minimize wastage and efficient storage of food, is expected to increase the demand for commercial refrigeration compressors, worldwide, over the forecast period.
Furthermore, positive change in living standards and improving macroeconomic scenario have led to a significant surge in the number of organized retail stores, worldwide.
|Commercial Refrigeration Compressors Market Estimated Size in 2022||US$ 3.59 Bn|
|Commercial Refrigeration Compressors Market Projected Size in 2029||US$ 4.87 Bn|
|Commercial Refrigeration Compressors Market Historical CAGR (2014-2021)||3.5%|
|Commercial Refrigeration Compressors Market Value-Based CAGR (2022-2029)||4.5%|
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The rapid growth of the organized retail sector characterized by the rising number of supermarkets, hypermarkets, etc., is projected to drive the growth of the overall food chain, which, in turn, is estimated to boost the sales of commercial refrigeration compressors for refrigerated display cases and other refrigeration equipment.
The commercial refrigeration compressors market is expected to grow at a promising rate during the forecast period, supported by the increasing number of retail stores across the globe.
Commercial Refrigeration Compressors Market Analysis by Cooling Capacity
By cooling capacity, the commercial refrigeration compressors market has been categorised into up to 1 kW, 2-6 kW, 7-10 kW, 11-15 kW, 16-20 kW, 21-30 kW, 31-40 kW, and above 40 kW. The up to 1 kW segment is projected to be a prominent segment, and hold a significant market share in the global commercial refrigeration compressors market. However, the 2-6 kW segment is expected to have a higher CAGR growth as compared to the other segments.
Commercial Refrigeration Compressors Market Analysis by Type
By type, the commercial refrigeration compressors market is segmented into reciprocating, rotary, scroll, screw, and centrifugal compressors. The reciprocating segment accounts for nearly 34% value share, owing to the wide use in various commercial refrigeration equipment in the global commercial refrigeration compressors market.
Commercial Refrigeration Compressors Market Analysis by Refrigeration
By refrigeration, the commercial refrigeration compressors market has been categorized into R290, R404A, R134A, R744, R410A, R407C, and others (R600A, etc.). Among these, the R290 segment is expected to grow at a high pace, owing to its various advantages such as extended cooling capacity, better efficiency, and size reduction of the compressor.
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Scope of the Report
|Historical Data Available for||2014-2021|
|Market Analysis||Units for Volume and US$ Mn for Value|
|Key Regions Covered||North America, Latin America, Europe, South Asia,
East Asia, Oceania, and the Middle East & Africa
|Key Countries Covered||US, Canada, Mexico, Brazil, Germany, U.K., France,
Italy, Spain, Russia, Poland, China, Japan, South Korea,
India, ASEAN, Turkey and South Africa
|Key Segments Covered||Type, Cooling Capacity, End Use, Refrigeration and Region|
|Key Companies Profiled||
|Report Coverage||Market Forecast, Company Share Analysis, Competition Intelligence,
DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
Commercial Refrigeration Compressors Market Analysis by End Use
By end use, the commercial refrigeration compressors market is segmented into transport-based refrigeration systems, walk-in-refrigerators and freezers, reach-in-refrigerators and freezers, beverage vending refrigeration systems, refrigerated display cases, ice machines, and refrigerated vending machines.
The transport-based refrigeration systems segment can be further divided into shipping-based and truck & trailer-based. Also, the beverage vending refrigeration systems segment is further divided into drinking & soda fountains, beverage cooling & dispensing equipment, and beer dispensing equipment.
Commercial Refrigeration Compressors Market Analysis by Region
From a regional perspective, East Asia is a projected to be a prominent market, owing to significant growth of retail stores in the region. Europe is projected to hold a value share of around 19% in the global commercial refrigeration compressors market.
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The market in Asia Pacific is anticipated to expand at a relatively high growth rate, owing to the increasing demand for refrigerated display cases, beverage vending refrigeration systems, etc., which, in turn, is projected to drive the demand for commercial refrigeration compressors in the market.
The commercial refrigeration compressors market in China is expected to be a lucrative market, and is projected to grow at a value CAGR of nearly 6% during the forecast period.
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