Refrigerant Compressors Market is valued at USD 15.65 Billion in 2018 and expected to reach USD 21.73 Billion by 2025 with the CAGR of 4.8% over the forecast period.
The Factors Such as Growth of the retail sector, rise in the number of supermarkets, hypermarkets that require large refrigeration systems, transportation industry, pharmaceutical industry are Contributing in the Growth of the Market.
Key Players for Global Refrigerant Compressors Market Reports–
Globally Manufacturers such as GMCC, Landa, Embraco, Panasonic, LG, RECHI Group, Samsung, Johnson Controls-Hitachi, Emerson, Highly, Secop, Tecumseh, FISCHER, Carlyle Compressors, FRASCOLD, Bitzer, Hanbell, Fusheng Industrial, GEA Bock and Many Others are contributing in the Market Growth.
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Scope of Refrigerant Compressors Market Report:
Refrigerant Compressor is nothing but the center of the refrigeration cycle. Refrigerant compressor is the critical equipment in Liquified Natural Gas (LNG) plant. The refrigeration compressors works as a pump control the circulation of the refrigerant and it creates pressure on refrigerant with heating it up. For maintaining a lower pressure before sending it to the condenser the compressor takes away vapor from the evaporator. With the refrigeration cycle, anyone can understand the refrigeration compressor function. A refrigeration cycle consists of the transformation of a liquid to a gas and vice versa.
There are five main steps for refrigeration circuit such as Evaporation, Compression, Condensing, Receiving and Expansion. The control schemes used for the refrigerant compressors depend on the driver that is selected for them. The Majority of the drivers used in the Liquified Natural Gas (LNG) process are Gas Turbines, i.e. frame-type Turbines and aeroderivative turbines. The Refrigerant compressors are mainly used in refrigeration, heat pumps and air conditioning applications such as food processing, pharmaceutical manufacturing and ice rinks and arenas.
The Refrigerant Compressors Market is segmented into the product type and Application. On the basis of product type the market is segmented into Rotary Compressors, Scroll Compressors, Reciprocating Compressors, Screw Compressors and Centrifugal Compressors. On the basis of application the market is segmented into Domestic, Small Commercial, Commercial and Industrial.
Global Refrigerant Compressors Market Segmentation –
By Product Type
The regions covered in this Refrigerant Compressors Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Hall Effect Sensor is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
The Increasing use of HVAC systems in Automotive Industry is main factor driving the market demand for refrigerant compressors.
For maintaining good air quality and to deliver thermal comfort there is use of HVAC systems and this is for providing sufficient ventilation in an automobile. Hence there is increase in use of HVAC systems in Automotive Industry which is driving the refrigerant compressors market. HVAC system supports to keep ambient environment inside the four wheelers. Moreover increasing cold storage industries across the world is significantly contributing in the growth of the market. Also the growing construction of new cold storage warehouses which includes modern technologies is fueling the market growth. According to Global Cold Storage Capacity Report in 2018, about 616 million cubic meters that means 2.67% capacity reported the total capacity of refrigerated warehouses worldwide in 2016. India has 150 million cubic meters, followed by the United States at 131 million cubic meters, and China at 105 million cubic meters hence there is installation of new refrigerant equipment in cold storage warehouses owing to demand for multiple rack compressor systems.
Asia Pacific is dominating the Refrigerant Compressors Market.
Geographically, Asia Pacific region has new emerging countries who are showcasing higher degree of economic growth are mostly located in the tropical areas. There is a continuous demand for air cooling for comforting the population in these regions and this is because of presence of tropical areas. Organization for Economic Co-operation and Development(OECD) projects have estimated that there will be about 3 billion middle-classes by 2030 in East Asia. this expansion of middle class economy and better income thresholds are offering more opportunities for utilizing refrigerators and AC’s which will boost the growth of the market.
Moreover North America region dominates the Market growth due to Expansion of cold chain logistics for the transportation of meat and marine products, dairy products, confectionaries and ice cream. Also the regional government bodies offers funding opportunities for the installation of lower emission refrigeration systems. These factors propelling the demand for refrigerant compressors market for the forecast period.
Key Benefits for Global Refrigerant Compressors Market Reports –
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