Refrigeration Compressors

Global Refrigeration Compressors Market to Reach US$26.3 Billion by 2030

The global market for Refrigeration Compressors estimated at US$21.0 Billion in the year 2024, is expected to reach US$26.3 Billion by 2030, growing at a CAGR of 3.9% over the analysis period 2024-2030. Reciprocating Compressor, one of the segments analyzed in the report, is expected to record a 4.4% CAGR and reach US$16.4 Billion by the end of the analysis period. Growth in the Scroll Compressor segment is estimated at 3.2% CAGR over the analysis period.

The U.S. Market is Estimated at US$5.7 Billion While China is Forecast to Grow at 7.2% CAGR

The Refrigeration Compressors market in the U.S. is estimated at US$5.7 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$5.4 Billion by the year 2030 trailing a CAGR of 7.2% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 1.5% and 3.0% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.2% CAGR.

Global Refrigeration Compressors Market – Key Trends & Drivers Summarized

Why Are Refrigeration Compressors the Backbone of Modern Cooling Systems?

Refrigeration compressors are the heart of any cooling system, playing a critical role in industries such as food and beverage, pharmaceuticals, HVAC, and industrial refrigeration. These devices work by compressing refrigerant gases, increasing their temperature and pressure before cooling them to facilitate heat exchange. The demand for refrigeration compressors has surged due to rising urbanization, increasing food safety concerns, and the expansion of cold storage facilities worldwide. The need for temperature-sensitive logistics, particularly in the pharmaceutical and vaccine distribution sector, has further highlighted the significance of efficient refrigeration systems. In the food retail industry, supermarkets, hypermarkets, and convenience stores are investing heavily in energy-efficient refrigeration solutions to reduce operational costs and comply with stringent environmental regulations. Additionally, the rising popularity of frozen and ready-to-eat meals has fueled the expansion of commercial refrigeration, increasing demand for advanced compressor technologies that enhance efficiency and sustainability.

How Are Technological Innovations Enhancing the Performance of Refrigeration Compressors?

Advancements in compressor technology have transformed the refrigeration industry, making cooling systems more energy-efficient, durable, and environmentally friendly. The shift toward variable-speed compressors, which adjust cooling capacity based on demand, has significantly reduced energy consumption and operational costs. Inverter-driven compressors are gaining traction due to their ability to optimize performance while minimizing temperature fluctuations, ensuring consistent cooling in commercial and industrial applications. The adoption of natural refrigerants such as CO2 (R744), ammonia (R717), and hydrocarbons is reshaping the market as companies move away from high-global-warming-potential (GWP) refrigerants. Additionally, AI-powered predictive maintenance and IoT-enabled monitoring systems are helping businesses track compressor efficiency, detect potential failures, and optimize performance in real-time. With smart automation becoming a key focus, refrigeration compressors are evolving to meet the growing demands of energy-conscious industries, paving the way for sustainable and cost-effective cooling solutions.

What Market Trends Are Driving the Growth of the Refrigeration Compressors Industry?

The rapid expansion of cold chain logistics and e-commerce-driven grocery delivery services has accelerated demand for high-performance refrigeration compressors. As consumers increasingly rely on online grocery shopping and meal kit deliveries, retailers are expanding their refrigerated warehouse networks, leading to higher investments in industrial refrigeration systems. The HVAC industry is also experiencing a surge in demand for eco-friendly and high-efficiency air conditioning solutions, propelling the adoption of next-generation compressors. Additionally, government policies promoting energy efficiency and carbon footprint reduction are pushing manufacturers to innovate with low-GWP refrigerants and advanced compressor designs. The increasing focus on modular and compact refrigeration units in commercial applications is another key trend, allowing businesses to optimize space utilization while maintaining high cooling efficiency. As climate change concerns drive the need for resilient refrigeration systems, industries are prioritizing investments in sustainable compressor technologies to future-proof their operations.

What Are the Key Growth Drivers of the Refrigeration Compressors Market?

The growth in the global refrigeration compressors market is driven by several factors, including the increasing demand for cold storage solutions, the rapid expansion of food retail and pharmaceutical industries, and advancements in energy-efficient refrigeration technologies. The rising need for sustainable cooling solutions has accelerated the adoption of eco-friendly refrigerants and variable-speed compressor systems. Additionally, the shift toward smart monitoring and AI-based predictive maintenance is enhancing compressor efficiency, reducing downtime, and optimizing energy consumption. The expansion of urban infrastructure, coupled with growing investments in green building initiatives, is further supporting market growth. Moreover, the rise of stringent environmental regulations and carbon emission reduction targets is pushing manufacturers to develop innovative, high-performance refrigeration compressors. As industries continue to prioritize energy efficiency, cost savings, and regulatory compliance, the refrigeration compressors market is expected to experience sustained growth, driving the evolution of next-generation cooling solutions worldwide.

SCOPE OF STUDY:

The report analyzes the Refrigeration Compressors market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Compressor Type (Reciprocating Compressor, Scroll Compressor, Screw Compressor); Capacity (Upto 5 Hp, 5 - 10 Hp, 10 - 15 Hp, Above 15 Hp); Motor (Fixed Speed Compressor, Variable Speed Compressor); Application (Residential, Commercial, Industrial)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Select Competitors (Total 43 Featured) -

• Atlas Copco AB
• Bitzer SE
• Bristol Compressors International LLC
• Burckhardt Compression AG
• Carlyle Compressors
• Carrier Global Corporation
• Daikin Industries, Ltd.
• Danfoss Group
• Dorin S.p.A.
• Embraco (a Nidec brand)
• Emerson Electric Co.
• Frascold S.p.A.
• Fusheng Industrial Co., Ltd.
• GEA Group AG
• GMCC (Guangdong Meizhi Compressor Co., Ltd.)
• Hanbell Precise Machinery Co., Ltd.
• Huayi Compressor Co., Ltd
• Johnson Controls-Hitachi Air Conditioning
• Kulthorn Kirby Public Company Limited
• LG Electronics

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.

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