December 5, 2023

Refrigerant Compressors Market: A Comprehensive Analysis

The refrigerant compressors market is experiencing robust growth thanks to the flourishing food and beverage sector. As the consumption of frozen and processed food products continues to rise, the demand for commercial refrigeration systems in food retail and storage applications is also on the upswing. Supermarkets and hypermarkets are expanding to meet this demand, driving the need for cold storage systems. Additionally, the increasing popularity of packed, ready-to-eat, and convenience foods is fueling the adoption of energy-efficient refrigerant compressors, further contributing to the market’s global growth. The food and beverage sector is expected to play a pivotal role in driving sales of refrigerant compressors used in the transportation, storage, and maintenance of food products across the entire cold chain.

CO2 Refrigerant Compressors Poised for Remarkable Demand

In response to the negative environmental impact of Chlorofluoro Carbons (CFC), there has been a surge in research aimed at finding alternative refrigerants. International efforts, such as the 2021 Glasgow Climate Change Conference, have focused on reducing emissions. Among the natural refrigerants considered, including ammonia, water, CO2, and hydrocarbons, CO2 stands out due to its numerous benefits, including low kinematic viscosity, small volume, high thermal conductivity, and high safety. Companies like Dorin, Danfoss, Emerson, and Bitzer have already introduced CO2 refrigerant compressors and are offering CO2 solutions for various commercial sectors. CO2 refrigerant compressors are gaining traction in heat pumps, multi-stage refrigeration, and automobile air conditioning. With a strong emphasis on environmental protection, CO2 refrigerant compressors are expected to drive growth in the refrigerant compressors market.

Asia Pacific Emerges as a Promising Market

Emerging economies in Asia Pacific are presenting lucrative growth opportunities for the refrigerant compressors market. Industries such as pharmaceuticals, food and beverages, chemicals, and automotive are witnessing significant growth, leading to increased demand for air conditioning, cold storage facilities, and biomedical refrigerators. The demand for air conditioning is particularly pronounced, with China experiencing a significant surge in AC demand. The region’s focus on decarbonization of heating is also driving demand for both large and small capacity compressors. The attractiveness of Asia Pacific in terms of refrigerant compressor adoption across various industry verticals continues to shape the market, offering a positive outlook for the years ahead.

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Innovative Strategies Drive Market Competitiveness

Key players in the refrigerant compressors market are at the forefront of innovation, developing products with enhanced energy efficiency and reduced environmental impact. Manufacturers are adopting strategies such as new product launches and acquisitions to strengthen their market positions. In 2021, Bitzer introduced the CSW85/95 compact screw refrigerant compressors, known for their efficiency in high-performance water-cooled liquid chillers. Meanwhile, Vert Technologies secured 1.9 million euros in December 2021 to advance its CRC (Conical Rotary Compressor) technology in refrigeration and heat pump applications. In the same year, Johnson Controls announced a partnership with Johnson Controls-Hitachi Air Conditioning, aiming to expand the distribution of horizontal scroll refrigerant compressors in North America. Italian startup Turboalgor introduced a new refrigerant compressor system for the automotive industry in 2021, offering energy savings of up to 23% and increasing cooling capacity by 56%, while extending the service life of refrigeration systems.

Key players in the refrigerant compressors market include Emerson Electric, Embraco, Bitzer, GMCC Company, Danfoss, Dorin S.p.A, and Daikin Industries Ltd.

Global Industry Analysis (2018 – 2021) – Growth Trends and Market Forecast (2022 – 2029)

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This press release first seen on Brilad