International. Global demand for commercial refrigeration compressors is expected to show promising growth, with a compound annual growth rate (CAGR) exceeding 4 percent during 2019-2029, according to the Future Market Insights report.
An increase in food and beverage production, coupled with the expansion of cold chain capabilities to ensure minimal waste and efficient food storage, is expected to increase the demand for commercial refrigeration compressors, worldwide, during the period envisaged.
In addition, the positive change in living standards and the improvement of the macroeconomic scenario have led to a significant increase in the number of organized retail stores around the world. The rapid growth of the organized retail sector, characterized by the increase in the number of supermarkets, hypermarkets, etc., is projected to drive the growth of the entire food chain, which, in turn, stimulates sales of commercial refrigeration compressors for display cases and other refrigeration equipment. The commercial refrigeration compressor market is expected to grow at a promising pace during the forecast period, supported by the growing number of retail stores across the globe.
Market analysis by region
From a regional perspective, East Asia is projected to be a prominent market, due to the significant growth of retail stores in the region. Europe is projected to have a share of around 19 percent in the global market. 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 sales refrigeration systems, etc., which, in turn, is projected to drive the demand for commercial refrigeration compressors. The commercial refrigeration compressor market in China is expected to be a lucrative market, and is projected to grow at a CAGR value of nearly 6 percent during the forecast period.
Market analysis by cooling capacity
By cooling capacity, the commercial refrigeration compressor market has been classified as 0-1 kW, 2-6 kW, 7-10 kW, 11-15 kW, 16-20 kW, 21-30 kW, 31-40 kW and more than 40 kW. The 0-1 kW segment is estimated to be a prominent segment and have a significant share of the global commercial refrigeration compressors market. However, the 2 to 6 kW segment is expected to have higher CAGR growth compared to the other segments.
Market analysis by type
By type, the reciprocating segment accounts for nearly 34 percent of the shared value, due to the wide use in various commercial refrigeration equipment in the global market.
Market analysis by refrigerants
By refrigerants, the commercial refrigeration compressor market has been classified as R290, R404A, R134A, R744, R410A, R407C and others (R600A, etc.). Among these, the R290 segment is expected to grow at a high rate, due to its various advantages, such as expanded cooling capacity, improved efficiency and reduced compressor size.
