Refrigerant Compressor Market Research Report By Compressor Type (Reciprocating Compressors, Scroll Compressors, Screw Compressors, Centrifugal Compressors), By Refrigerant Type (HFCs, HFOs, NH3, CO2), By Application (Air Conditioning, Refrigeration, Heat Pumps), By End-User Industry (Residential, Commercial, Industrial), By Capacity (Small (50 kW), Medium (50-200 kW), Large (>200 kW)) and By Regional (North America, Europe, South America, Asia Pacific, Middle East and Africa) - Forecast to 2032

Refrigerant Compressor Market Overview:

As per MRFR analysis, the Refrigerant Compressor Market Size was estimated at 42.06 (USD Billion) in 2022. The Refrigerant Compressor Market Industry is expected to grow from 44.22(USD Billion) in 2023 to 69.4 (USD Billion) by 2032. The Refrigerant Compressor Market CAGR (growth rate) is expected to be around 5.13% during the forecast period (2024 - 2032).

Key Refrigerant Compressor Market Trends Highlighted

There is a growing trend in the refrigerant compressor market and by the next few years, it is expected to occupy a larger share owing to increasing demand for air conditioning and refrigeration services in the residential as well as commercial construction sectors. With the increase in concerns about environmental sustainability, there is an increasing adoption of energy-saving refrigerant compressors like inverters and variable-speed compressors. The surging trend toward the consumption of food and other beverages is also increasing the need for effective refrigeration systems, thereby enhancing market growth. Further, the advancement of sulfur pentafluoride gas injection systems and the use of green refrigerants will be additional competitive strategies emerging in the market. These tendencies alter the dynamics of the refrigerant compressor market in favor of manufacturers, enabling them to harness the new and growing market along with the innovations within the industry.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Refrigerant Compressor Market Drivers

Rising Demand for Energy-Efficient HVAC Systems

One of the leading drivers of the Global Refrigerant Compressor Market Industry is the increasing demand for energy-efficient heating, ventilation, and air conditioning systems. In order to fight the negative effects of climate change, governments and businesses worldwide adopt stringent standards of energy efficiency both in production and consumption. HVAC systems are one of the segments that stay at the heart of the process, both as consumers of energy and as products to be consumed.Refrigerant compressors are among the decisive energy-consuming devices in HVAC systems, which means the demand for more energy-efficient HVAC systems results in increased demand for refrigerant compressors.

Increasing Adoption of Natural Refrigerants

Another major factor responsible for propelling the Global Refrigerant Compressor Market Industry is the increasing adoption of natural refrigerants. Due to their low global warming potential and zero ozone depletion potential, natural refrigerants, including ammonia, carbon dioxide, and hydrocarbons, are gaining momentum. Since the world is heading towards a green future, the demand for these natural refrigerants will grow steadily. This will also lead to the increasing adoption of refrigerant compressors that are compatible with natural refrigerants.

Growing Demand for Refrigerated Transportation

The need for refrigerant compressors is also arising because of the growing quantity of refrigerated transports. Refrigerated transport is very important for moving perishables, for instance, food, and pharmaceuticals. Ensuring that the refrigerant compressor produces a cool temperature allows the system to act efficiently. The increasing world population calls for an increase in the amount of refrigerated transport, a catalyst for the growing demand for compressors.

Refrigerant Compressor Market Segment Insights:

Refrigerant Compressor Market Compressor Type Insights

The Global Refrigerant Compressor Market is segmented into Reciprocating Compressors, Scroll Compressors, Screw Compressors, and Centrifugal Compressors. Reciprocating Compressors held the largest market share in 2023, accounting for over 35% of the Global Refrigerant Compressor Market revenue. The demand for Scroll Compressors will witness the highest evolution during the forecasting period due to the capability of high efficiency and reliability. Reciprocating Compressors are positive–displacement compressors that use a piston to compress the refrigerant.They are commonly used in small to medium size refrigeration and air conditioning systems. Scroll Compressors are also positive–displacement compressors that use two interleaved scrolls to compress the refrigerant. They are characterized by quiet operation and high efficiency. Screw Compressors are positive–displacement compressors that use two intermeshing screws to compress the refrigerant. These compressors are mainly used in large–scale refrigeration and air conditioning systems. Centrifugal Compressors are dynamic that use a rotating impeller to compress the refrigerant.The expanding refrigeration and air conditioning systems in the residential, commercial and industrial appliances are propelling the market growth. The increasing interest in energy-saving technology is also enhancing the growth of the Refrigerant Compressor.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Refrigerant Compressor Market Refrigerant Type Insights

The Global Refrigerant Compressor Market by Refrigerant Type 1.1 HFCs By refrigerant type, the global refrigerant compressor market is divided into HFCs, HFOs, NH3, and CO2. HFCs accounted for the largest market share in 2023, contributing to about 60% of the global revenue. However, HFOs are expected to experience the highest growth over the forecast period as they have low global warming potential and are highly energy efficient. NH3 and CO2 are witnessing great popularity as they are natural refrigerants and have a very low impact on the environment.The increasing demand for energy-efficient and environment-friendly refrigeration systems is driving the Refrigerant Compressor Market.

Refrigerant Compressor Market Application Insights

The application segment plays a crucial role in shaping the Global Refrigerant Compressor Market landscape. Among various applications, air conditioning, refrigeration, and heat pumps hold significant market shares. Air conditioning systems are widely used in residential, commercial, and industrial sectors, driving the demand for refrigerant compressors. In 2023, the air conditioning segment accounted for around 45% of the Global Refrigerant Compressor Market revenue, and it is projected to maintain its dominance throughout the forecast period. Refrigeration applications, including cold storage, food processing, and transportation, also contribute substantially to the market growth.The increasing demand for perishable goods and the expansion of the food and beverage industry are key factors fueling the growth of the refrigeration segment. Heat pumps, which provide both heating and cooling solutions, are gaining popularity due to their energy efficiency and are expected to witness a steady rise in demand over the coming years. The overall market growth is influenced by factors such as rising urbanization, increasing disposable income, and growing awareness of energy conservation.

Refrigerant Compressor Market End-User Industry Insights

The Global Refrigerant Compressor Market segmentation by End-User Industry includes Residential, Commercial, and Industrial segments. In 2023, the Residential segment held the largest share in the Global Refrigerant Compressor Market revenue, owing to the rising demand for energy-efficient and environmentally friendly cooling solutions in residential buildings. The Commercial segment is projected to grow at the highest CAGR during the forecast period due to increasing construction activities and rising disposable income. The Industrial segment is primarily driven by the growing demand for refrigeration systems in various industries such as food processing, manufacturing, and pharmaceuticals.With the rising focus on sustainability and environmental regulations, the demand for low-GWP refrigerants and energy-efficient compressors is expected to drive the growth of the Refrigerant Compressor Market in all three segments in the coming years.

Refrigerant Compressor Market Capacity Insights

The global refrigerant compressor market is segmented by capacity into small (50 kW), medium (50-200 kW), and large (>200 kW). The small capacity segment accounted for the largest share of the market in 2023 and is expected to continue to grow at a steady pace over the forecast period. The medium capacity segment is also expected to grow at a healthy rate, driven by increasing demand from the commercial and industrial sectors. The large capacity segment is expected to witness the highest growth rate over the forecast period, as it is primarily used in large-scale industrial applications.In 2023, the small capacity segment was valued at USD 15.23 billion and is projected to reach USD 20.45 billion by 2032, exhibiting a CAGR of 4.2%. The medium capacity segment was valued at USD 13.12 billion in 2023 and is expected to reach USD 17.69 billion by 2032, growing at a CAGR of 4.5%. The large capacity segment was valued at USD 12.37 billion in 2023 and is projected to reach USD 18.26 billion by 2032, growing at a CAGR of 5.2%. The growth of the refrigerant compressor market is being driven by a number of factors, including the increasing demand for air conditioning and refrigeration systems, the growing popularity of energy-efficient appliances, and the rising adoption of natural refrigerants.The market is also expected to benefit from the increasing demand for refrigeration in developing countries, as well as the growing popularity of online food delivery services.

Refrigerant Compressor Market Regional Insights

The Global Refrigerant Compressor Market is segmented into North America, Europe, APAC, South America, and MEA. North America held the largest share of the Global Refrigerant Compressor Market in 2023 and is expected to continue to dominate the market throughout the forecast period. The growth of the refrigerant compressor market in North America is primarily attributed to the increasing demand for energy-efficient and environmentally friendly refrigeration systems. The region is also home to a number of leading manufacturers of refrigerant compressors, which has further contributed to the growth of the market.Europe is the second-largest market for refrigerant compressors, followed by APAC. The growth of the refrigerant compressor market in Europe is driven by the increasing adoption of stringent environmental regulations and the growing demand for energy-efficient cooling systems. The APAC region is expected to witness the highest growth in the refrigerant compressor market during the forecast period due to the increasing demand for refrigeration systems in emerging economies such as China and India. South America and MEA are relatively smaller markets for refrigerant compressors, but they are expected to grow at a steady pace during the forecast period.The growth of the refrigerant compressor market in these regions is driven by the increasing demand for refrigeration systems in the commercial and industrial sectors.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Refrigerant Compressor Market Key Players And Competitive Insights:

Major players in the Refrigerant Compressor Market are investing heavily in research and development to introduce innovative and energy-efficient products. Leading Refrigerant Compressor Market players are focusing on strategic partnerships and acquisitions to expand their global footprint and enhance their product portfolio. The Refrigerant Compressor Market industry is characterized by intense competition, with a number of established players and emerging entrants vying for market share. Key players are adopting various strategies to gain a competitive edge, such as product differentiation, cost leadership, and geographical expansion. The competitive landscape is expected to remain dynamic, with new entrants and technological advancements shaping the Refrigerant Compressor Market development.Daikin Industries, Ltd. is a leading player in the Refrigerant Compressor Market. The company offers a wide range of compressors for various applications, including air conditioning, refrigeration, and heat pumps. Daikin has a strong global presence, with manufacturing facilities in Japan, China, the United States, and Europe. The company is focused on developing innovative and energy-efficient products and has invested heavily in research and development. Daikin has also been acquiring other companies to expand its product portfolio and global reach.Another major player in the Refrigerant Compressor Market is Emerson Electric Co. Emerson offers a comprehensive range of compressors for residential, commercial, and industrial applications. The company has a strong global presence, with manufacturing facilities in North America, Europe, and Asia. Emerson is focused on providing high-quality products and services and has a strong commitment to customer satisfaction. The company is also investing in research and development to develop new and innovative products.

Key Companies in the Refrigerant Compressor Market Include:

• Copeland Corporation


• Lennox International


• Carrier Corporation


• Johnson Controls


• Rheem Manufacturing Company


• Hitachi


• Toshiba Carrier


• Emerson


• Samsung


• Mitsubishi Electric


• Panasonic


• Bitzer


• LG Electronics


• Trane Technologies


• Danfoss

Refrigerant Compressor Market Industry Developments

The global refrigerant compressor market is projected to grow from an estimated USD 44.22 billion in 2023 to USD 69.4 billion by 2032, exhibiting a CAGR of 5.13% during the forecast period. The increasing demand for energy-efficient and environmentally friendly cooling solutions is driving market growth. Government regulations aimed at phasing out harmful refrigerants and promoting sustainable alternatives are further propelling the adoption of refrigerant compressors. Technological advancements, such as the development of variable-speed compressors and inverter-driven systems, are enhancing the efficiency and reducing the energy consumption of refrigerant compressors. Additionally, the growing adoption of air conditioning and refrigeration systems in various industries, including residential, commercial, and industrial sectors, is contributing to the market expansion.

Refrigerant Compressor Market Segmentation Insights

• Refrigerant Compressor Market Compressor Type Outlook


• Reciprocating Compressors


• Scroll Compressors


• Screw Compressors


• Centrifugal Compressors


• Refrigerant Compressor Market Refrigerant Type Outlook


• HFCs


• HFOs


• NH3


• CO2


• Refrigerant Compressor Market Application Outlook


• Air Conditioning


• Refrigeration


• Heat Pumps


• Refrigerant Compressor Market End-User Industry Outlook


• Residential


• Commercial


• Industrial


• Refrigerant Compressor Market Capacity Outlook


• Small (50 kW)


• Medium (50-200 kW)


• Large (>200 kW)


• Refrigerant Compressor Market Regional Outlook


• North America


• Europe


• South America


• Asia Pacific


• Middle East and Africa