The global air conditioning and refrigeration compressors market was valued at US$ 22.96 Bn in 2021 and is expected to expand at a CAGR of 3.7% throughout the forecast period from 2023 to 2030. Air conditioning and refrigeration compressors is a key component of any air conditioning and refrigeration systems, from a small mini-split air conditioner to the largest commercial system. The HVAC systems, are widely gaining popularity in industries such as food, transportation and are being primarily used by both commercial and residential sectors across the globe. The propulsion in the demand for air conditioning and refrigeration compressors market can also be associated to the depleting ozone layer, increased energy usage and an inclination of people towards comfort is creating the demand for energy-efficient products and products which are less harmful to the environment. Governments are taking strict actions and new regulations are being formed in order to protect the environment, which in turn has made the manufacturers focus on developing new products which are efficient. Thus, driving the growth of the air conditioning and refrigeration compressors market.

Residential Segment to Dominate; Commercial Segment to Register Maximum Growth throughout the Forecast Period

Based on application, the global air conditioning and refrigeration compressors market is categorized into residential, commercial, industrial, healthcare and transportation. Residential segment dominates the application segment. This is due to the widespread adoption of air conditioners and refrigerators worldwide, especially in countries such as the U.S., China, Japan, and India among others. In contrast, Commercial segment is set to register fastest growth. This is due to growing numbers of supermarkets and hypermarkets across the globe and the requirements of HVAC systems for temperature controlling and air cooling is bolstering the air conditioning and refrigeration compressors market growth.

North America Dominates; Asia Pacific Touted to Register Significant Growth during the Forecast Period

North America accounts for the largest market share across the globe in the air conditioning and refrigeration compressors market. The booming commercial sectors, and surge in the number of cold storage facilities are propelling the demand for advanced refrigeration and air conditioning systems. This, in turn, is creating lucrative opportunities for market players and driving the growth of the market. North America is closely followed by Asia Pacific. Asia Pacific region is set to register maximum growth throughout the forecast period. This is due to the presence of large number of manufacturers in the region, increasing consumer awareness over comfort and environment safety among others. According to a report published by ‘Japan Refrigeration and Air Conditioning Association’, the demand for air conditioners in China accounts for almost 40% of world demand, followed by Asia (excluding Japan and China) and North America. Thus, driving the growth of air conditioning and refrigeration compressors market.

Some of the leading manufacturers profiled in the study Guangdong Meizhi Compressor Co., Ltd. (GMCC), Zhuhai Landa Compressor (GREE), Rechi Precision Co., Ltd., Panasonic, LG, Daikin, Mitsubishi Heavy Industries, Atlas Copco, Embraco, Highly, Samsung, Emerson Electric Co., The Danfoss Group, Fusheng Co., Tecumseh.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Air Conditioning And Refrigeration Compressors market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Air Conditioning And Refrigeration Compressors market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Air Conditioning And Refrigeration Compressors market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Air Conditioning And Refrigeration Compressors market?
• Which is the largest regional market for Air Conditioning And Refrigeration Compressors market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Air Conditioning And Refrigeration Compressors market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Air Conditioning And Refrigeration Compressors market worldwide?