Refrigerant Compressors Market Projections 2026 | USD 90.4Bn Revenue | Johnson Controls, Hitachi, Emerson, GEA, Kirloskar, Danfoss, Mitsubishi Electric Corporation

According to a new research report, global refrigerant compressors market is expected to exceed USD 90.4 billion by 2026. Refrigerant compressor market is projected to witness a lucrative growth surge over the forthcoming time period owing to the rising use of compressors in mobile, industrial, commercial, domestic sectors. Refrigerant compressor is at the center of the overall refrigeration cycle. The equipment works as a pump that can control the refrigerant circulation while also adding pressure to the circulating refrigerant, further heating it up.

The refrigerant compressor is also responsible for drawing away the vapor from the evaporator in order to maintain a low temperature and low pressure before it is sent to the condenser. Compressors are also described by various features which includes cooling method and mediums namely air-cooled, oil-cooled, or water cooled; the number of stages such as multi-stage, two-stage, and single-stage; the drive speed including variable speed or constant speed; drive types such as motor, chain, belt, or engine, and lubricating method like forced lubricated, splash lubricated or oil-free lubricated.

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There are namely two types of compressors positive displacement and dynamic displacement. Dynamic displacement means that the refrigerant is compressed by adding in kinetic energy through a rotating component to a high temperature and pressure. Positive displacement is compressed to high pressure and temperature by a chamber whose volume can further change.
The refrigerant compressor market is segmented in terms of type, construction, cooling capacity, application, and regional landscape.
Based on type, the market is categorized into positive displacement and dynamic displacement. The dynamic displacement segment is further divided into axial and centrifugal. Among these, axial refrigerant compressors held a market share of 2% in 2018 and is projected to grow at a CAGR of over 4% throughout the assessment period.

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With respect to construction, the market is bifurcated into hermetic, semi-hermetic, and OPEN. Among these, the semi-heretic compressors held around 8% revenue share in 2019. Increasing application of semi-hermetic compressors in supermarkets and chiller systems will spur the segment size. These types of compressors are usually a bit expensive in comparison to hermetic compressors owing to the bolts and O-rings required to join the covers. The compressor and motor are in a two-piece shell in a semi-hermetic compressor.

Based on cooling capacity, the market is divided into above 400 Kw, 101-400 kW, and less than 100 kW. Among these, the above 400 kw segment shall likely exhibit a CAGR of over 3.9%. Installation of multiple and parallel rack systems in food & beverages and pharmaceutical industries will escalate their market share.

Based on application, the market is classified into, transport, domestic, mobile, commercial, and industrial. Among these, the mobile segment will grow at a CAGR of 3.4% in terms of revenue throughout the forecast period. Surging production of electric vehicles across the globe will drive the segment growth.

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From a regional frame of reference, the Middle East refrigerant compressor market will grow at a CAGR of 4.7% in terms of revenue throughout the forecast time period. Increasing penetration of industry participants across MEA will likely drive the industry growth.

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