Technavio, a tech-focused market research firm, has published a new report on the global refrigerant compressors market, which is likely to grow at a CAGR of close to 5% during the period 2017-2021.
Based on geographical segmentation, Technavio market researchers categorize the global refrigerant compressors market into the following key regions: the Americas, APAC, and EMEA.
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Refrigerant compressors market in APAC: The increasing investment in commercial applications by refrigeration equipment vendors in APAC is making it the fastest-growing region in the global market. The growing demand from developing countries like China and India for frozen and packaged foods will augment the growth of this region over the next few years. Moreover, the increasing purchasing power and rise in the rate of urbanization will fuel the demand for refrigerant compressors market in the APAC region.
According to Anju Ajaykumar, a lead analyst at Technavio, specializing in research on unit operations, “The increase in rural-to-urban migration and rising disposable incomes will lead to the development of retail stores in the region. This development will drive the growth of the commercial refrigeration and the demand for refrigerant compressors in the APAC market. The others factors that are contributing to the growth of this market include the growth of e-commerce, changing food consumption patterns, rising international food trade, and growth in the pharmaceutical industry.”
Refrigerant compressors market in the Americas: The American market for refrigerant compressors is driven due to improving the capital investment environment, increasing demand for processed food, and the expansion of oil and gas activities. The implementation of stringent energy regulations implemented by the government in the region is encouraging vendors to develop and launch energy-efficient machinery to attract more consumers. The increasing demand for refrigerated food products due to changing lifestyles in Latin American countries like Brazil and Mexico will help in the development of the American market.
Refrigerant compressors market in EMEA: The expansion of retail chains is fueling the demand for commercial refrigeration equipment in the European market, which, in turn, will have a positive impact on the growth of the refrigerant compressors in this region. Countries like the UK, France, and Germany will emerge as the highest revenue generator in this region. Moreover, the increasing replacement of existing industrial refrigeration parts with energy-efficient and environment-friendly components will help the manufacturers launch innovative products in the EMEA market.
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The top leading vendors operating in the global refrigerant compressors market are:
- BITZER
- Danfoss
- Emerson Climate Technologies
- GEA
Other prominent vendors in the market include Dorin, Embraco, FRASCOLD, FUSHENG, HANBELL, Huayi Compressor, LG, MAYEKAWA MANUFACTURING, Panasonic, RECHI PRECISION, and TORAD Engineering.
A more detailed analysis is available in the Technavio report titled, ‘Global Refrigerant Compressors Market 2017-2021’. Technavio also customizes reports by other regions and specific sectors upon request.
Other related reports:
- Global Industrial Refrigeration Market 2016-2020
- Global HVAC Refrigerant Market 2016-2020
- Global Refrigerator Market 2016-2020
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