Global Refrigerant Compressors Market 2017-2021

Overview of the global refrigerant compressors market

Technavio’s market research analyst predicts the global refrigerant compressors market to grow steadily at a CAGR of around 5% by 2021. One of the primary drivers for this market is the rise in the automotive HVAC market. HVAC systems are widely used in four-wheelers to maintain good air quality and to provide thermal comfort through adequate ventilation inside a vehicle. They aid in maintaining a good environment inside the cabin by controlling the temperature. The automotive HVAC market caters to both OEMs as well as to the aftermarket, and this gives customers an opportunity to experience the benefits of newly developed HVAC systems on presently owned vehicles instead of buying new vehicles. These advantages of the automotive HVAC systems will propel the growth of the global refrigerant compressors market in the coming years. One of the latest trends gaining traction in this market is the development of next-generation air compressors. After extensive R&D, the vendors are slowly incorporating variable speed drives (VSDs) into their air compressors. The vendors are now manufacturing compressors that make use of variable speed technology and a special drive to manipulate the speed. A VSD automatically controls the compressor operation based on the user's requirement for compressed air. The high-energy efficiency provided by this type of air compressors is attributed to its continuous and real-time operational nature. Consequently, these compressors will witness a rise in the adoption rate, which in turn, will drive growth in the global refrigerant compressors market in the coming years.

Competitive landscape and key vendors

The global refrigerant compressors market is getting consolidated due to the high number of mergers and acquisitions happening in the market space. This transformation has had its impact on equipment and components manufacturers in terms of their product offerings and support services. Also, the established players undergo mergers with the aim of offering value-added offerings to industrial and commercial customers.

Leading vendors in the market are –

• BITZER
• Danfoss
• Emerson Climate Technologies
• GEA

Other prominent vendors in the refrigerant compressors market include Dorin, Embraco, FRASCOLD, FUSHENG, HANBELL, Huayi Compressor, LG, MAYEKAWA MANUFACTURING, Panasonic, RECHI PRECISION, and TORAD Engineering.

Segmentation by product and analysis of the refrigerant compressors market

• Hermetic compressors
• Semi-hermetic reciprocating compressors
• Domestic compressors
• Semi-hermetic screw compressors
• Open screw compressors
• Open centrifugal compressors
• Open reciprocating compressors

During 2016, the hermetic compressors dominated the refrigerant compressors market and accounted for a major part of the overall market share. The residential construction in the US and APAC are the key contributors to the growth of this segment in the global market. Moreover, the Twin rotary compressors experienced rapid growth in demand, especially in light commercial applications like unitary systems, multi-splits, and small chillers.

Geographical segmentation and analysis of the refrigerant compressors market

• Americas
• APAC
• EMEA

In this market study, analysts have estimated APAC to dominate the refrigerant compressors market during the forecast period. High investment in commercial applications by refrigeration equipment vendors owing to the presence of high-growth economies like India and China is the key to the dominance of the refrigerant compressor market in the region. Also, the increasing purchasing power in the region is supported by the rise in the rate of urbanization in developing countries, this, in turn, is promoting the market in the region.