Commercial Compressor Market Size, Share, Growth and Industry Analysis by Type (Reciprocating Compressor, Rotary Compressor, Screw Compressor, Scroll Compressor, And, Centrifugal Compressor), By Application (Transport Based Refrigeration System, Walk-In-Refrigerators and Freezers, Reach-In-Refrigerators and Freezers, Beverage Vending Refrigeration System, Refrigerated Vending Machines, And, Others), Regional Forecast To 2031

Updated On: 15 April 2024

Commercial Compressor Market REPORT OVERVIEW

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The Commercial Compressor Market size is expected to grow USD 4538.1 Million in 2022 to USD 6348.18 Million by 2031 at a Compound Annual Growth (CAGR) of 3.8% from 2022 to 2031.

A commercial compressor is also called as a commercial refrigeration compressor and it is used mainly for the purpose of compressing the refrigerant gas. All types of refrigerants will have to be compressed by using a commercial compressor in order to reach the right pressure.

The demand for packaged, processed, and fast food have increased drastically over a period of ten years. Commercial compressors are used for storing such food items. This is considered as the latest trend in the market.

The number of fast food chains are growing day by day. With rise in population food trade is growing at an exceptional rate. All of these factors have helped in the growth and development of the commercial compressor market.

COVID-19 Impact: Reduction in Consumption of Preserved Food Decreased Market Share

The pandemic of COVID-19, was the major problem faced by all industries. Outbreak of coronavirus led to major health crisis all over the world. Many people died due to the rapid spread of coronavirus. Several precautions were taken up by government organizations to prevent the rapid spread of the virus. 

Lockdowns were made compulsory, with strict social distancing norms. Outdoor activities were reduced, and the demand for several products also decreased. Consumption of outside food and packed food items  also saw a decline. As a result, the market for commercial compressor suffered during the pandemic period.

LATEST TRENDS

"Increase in Demand for Preserved Food Post Pandemic to Increase Market Growth"

Despite, suffering low demand during the pandemic packaged food market saw a steady growth post pandemic. Consumption of fast food increased considerably. Chips, snacks, and beverages were sold out in large quantities from retail and departmental stores.

All of this packaged food must be preserved in commercial refrigerator compressors to avoid their decaying. With the usage of these compressors the refrigerants can be compressed up to a certain pressure level. As a result, the demand for food service providers have increased. This is identified as the latest trend in the market.

Commercial Compressor Market SEGMENTATION

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• By Type:

The market can be divided into the following segments depending on their respective types:

Reciprocating compressor, rotary compressor, screw compressor, scroll compressor, and, centrifugal compressor. The reciprocating compressor segment is anticipated to dominate the market during the forecast period.

• By Application:

Based on application, the market share is bifurcated into the following segments:

Transport based refrigeration system, walk-in-refrigerators and freezers, reach-in-refrigerators and freezers, beverage vending refrigeration system, refrigerated display cases, ice machines, refrigerated vending machines, and, others. The transport-based refrigeration segment is expected to dominate the market during the forecast period.

DRIVING FACTORS

"Increasing Number of Fast-Food Chains and Franchise to Amplify Market Growth"

With growing demand for fast food service providers, the inflow of investments for refrigeration systems has also increased. Many joint ventures as well as franchise of popular fast-food restaurants are being set up. This is a major factor fueling the market growth.

Commercial compressors and refrigerators are a must in these chain franchises. Hotels and restaurants also rely heavily upon on these equipments to preserve food items that are easily perishable. Changing lifestyle of people, and urbanization has also positively impacted the commercial compressor market share.

"Growing Food Trade Across Globe to Impede Market Growth"

Rapid growth of population in developed economies, has resulted in tremendous development of food trade across all the nations. Expansion of cold chain infrastructure, is another reason that has contributed to the increase in number of commercial compressors.

Busy lifestyle of people in today’s generation is influencing them to rely more on ready-to-eat food items that need preservation to be stored for a long period of time. Pharmaceutical companies also need commercial compressors to store sensitive drugs. Growth of Fast-Moving Consumer Goods (FMCG) sector is expected to create lucrative growth opportunities for the commercial compressor market growth.  

RESTRAINING FACTOR

"Decrease in Nutritional Value of Many Food Items to Bring Down Market Share"

In Spite of storing food items as well as drugs for a long duration of time, commercial compressors have their own limitations.  The nutritional value of many food items decreases due to continuous preservation. Their shelf-life many increases, however food products like fruits and vegetables do not remain fresh and lose their taste.

Many refrigerators also release CFCs known as chlorofluorocarbons that can be very harmful to the environment. They lead to the depletion of ozone layer allowing the entry of harmful ultraviolet radiations. All of these factors can deteriorate the growth of commercial compressor market.

Commercial Compressor Market Regional Insights

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"Europe to Dominate Market Share "

Europe is predicted to dominate the market share in upcoming years. This region occupies the market due to factors like rapid urbanization, increased disposable income of people, and changing lifestyle. Along with all these factors the primary factors include usage of commercial compressors in both food and pharmaceutical industry.

Certain drugs that have to be preserved and are very sensitive to external factors are also preserved using commercial refrigerator compressors. The number of warehouses has also increased. Europe is a home for many of the fast food restaurant giants. Furthermore, companies like subway, McDonald’s, and KFCs have numerous stores in many of European countries. Usage of this device also initiates reduction in food wastage. All of these factors are fueling market growth in Europe.

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Market Players Profiled

• Emerson (U.S.)
• Panasonic (Japan)
• Embraco (U.S.)
• LG (South Korea)
• Johnson Controls-Hitachi (Japan)
• Bitzer (Germany)
• Tecumseh (U.S.)
• Bock GmbH (Germany)
• Danfoss (Denmark)
• Samsung (South Korea)
• Secop (Germany)
• Mitsubishi (Japan)
• Frascold (Italy)
• Dorin (E.U)
• Fusheng (China)
• Danfu Compressor (China)
• Fujian Snowman (China)
• Huayi Compressor (China)
• Huangshi Dongbei (China)
• Zhuhai Landa (China)
• Hangzhou Qianjiang (China)
• Guangzhou Wanbao (China)

Report Coverage

The report provides an insight into the industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations. On reading the report the user will be able to understand and interpret all the aspects of the market.