Pune, Jan. 10, 2023 (GLOBE NEWSWIRE) -- Maximize Market Research is a leading market research company that has published a report on the "Air Conditioning Compressor Market”. The report includes key business insights, demand analysis, pricing analysis, competitive landscape, and benchmarking of key market players. Air Conditioning Compressor market size reached USD 23.40 billion in 2021 and is expected to reach USD 35.10 billion by 2029, growing at a CAGR of 5.2 Percent during the forecast period.
Air Conditioning Compressor Market Scope and Research Methodology
The Air Conditioning Compressor Market research report covers product classification, product application, development trends, product technology, competitive landscape, industrial chain structure, industry overview, national policy, and planning analysis of the industry, the latest dynamic analysis, etc. The report includes drivers, opportunities, and restraints affecting the global market. It covers the impact of these drivers, trends, and restraints on the demand of the market during the forecast period. The report also highlights opportunities in the market at the global level.
The report focuses on the key manufacturers, to study the capacity, production, value, market share, and development plans for the future, comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players. The research report involves the extensive usage of both primary and secondary data sources.
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Air Conditioning Compressor Market Overview
The air conditioning compressor is a crucial part of the air conditioner and is in charge of moving refrigerant throughout the entire system. These compressors can also raise the temperature of a low-pressure gas and remove vapour from the evaporator. Due to the rising market share of products like air conditioners, refrigerators, and significant industrial applications including metallurgy and mining, papermaking and printing, electronics and energy, and power production, the market for air conditioning compressors is expected to experience substantial growth during the forecast period. With the growing popularity of electric vehicles, the market for air conditioning compressors for cars is also growing fast.
The report provides a comprehensive analysis of every aspect of the Air Conditioning Compressor market including the market size and growth rate, with a historic period of 2017–2021 and forecasts for 2022–2029 while 2021 is considered as a base year for estimations. The report also covers devoted sections for each segment along with regional coverage through information and statistics on the drivers, restraints, opportunities, challenges, trends, and other factors impacting global Air Conditioning Compressor market growth. Additionally, the report covers the exclusive analysis of the market by using marketing tools such as Porter’s Five Forces Analysis, Pricing Analysis, SWOT Analysis, PESTLE Analysis, and Competitive benchmarking, among others.
Air Conditioning Compressor Market Dynamics
Rapid Infrastructure Development to Boost Sales of Air Conditioning Compressor during the forecast period.
According to MMR Study, the healthy development of the infrastructure sector all over the world are continue to rise in the sales of air conditioning compressors. Infrastructure is a major contributor to global GDP & the increasing residential & commercial sectors in developing economies are expected to drive up demand for air conditioning compressors. The need of consumers to live a healthy & luxurious lifestyle by growing the air quality index in their homes has elevated the demand for air conditioning systems. Individuals are rapidly installing cooling appliances like air conditioners in their homes, workplaces, hospitals, entertainment venues, transportation, and other sectors. Many people in emerging countries consider air conditioning as a luxury home appliance. The market for Air Conditioning compressors is estimated to grow as a result of the increasing population, reduced AC costs, increased disposable income, changing customer lifestyles, and easy availability of products through online shopping platforms. India is a newcomer to the rotary compressor manufacturing sector as its growing domestic demand for residential air conditioning. The Indian Air Conditioning Compressor market is measured to be a significant region for emerging improved efficiency inverter technology.
The popularity of alternative cooling techniques and the high energy consumption is expected to hinder the growth of the air conditioning compressor market during the forecast period. Despite a promising growth trajectory, a number of challenges are impeding the market for air conditioning compressors. Two of these factors are the high energy use and the adoption of alternate air conditioning technologies. Many technologies & developments have been made in many businesses, including innovative ice-powered air conditioning systems which reduce the need for compressors in air conditioners. High electricity use could potentially be a market barrier. The majority of the electricity used by household air conditioners came from the overall amount of electricity provided to the home, which led to an increase in average electricity expenditures of 35 percent to 45 percent. Regular power outages are a result of more people finding it difficult to pay their energy bills with their incomes. The market for air conditioning compressors may therefore face growth challenges as a result of their maximum power usage.
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Air Conditioning Compressor Market Regional Insights:
The APAC Air Conditioning Compressor market revenue is expected to grow at a CAGR of 7.8 percent during the forecast period. Demand for air conditioning compressors in the APAC region is being driven by the robust growth of the residential & industrial segments, as well as the increasing usage of air conditioning equipment in these segments. China has the world's major population and Residential constructions are in more demand as the population grows. Furthermore, the nation's industrial & technological trades are significant contributors to its GDP. As a result, development in the industrial and residential segments is pushing the nation's sales of air conditioning compressors. Shanghai Highly Group Co., Ltd. produces air-conditioning compressors through its subsidiary, Shanghai Hitachi Electrical Appliances Co., Ltd., which has a total annual capacity of 20 million rotary compressors distributed between three Chinese sites and one in India. The largest facility, in Shanghai, can produce 10.3 million rotary compressor units each year.
| Market Size in 2021 | USD 23.40 Bn. |
| Market Size in 2029 | USD 35.10 Bn. |
| CAGR | 5.2% (2022-2029) |
| Forecast Period | 2022-2029 |
| Base Year | 2021 |
| Number of Pages | 230 |
| No. of Tables | 124 |
| No. of Charts and Figures | 117 |
| Segment Covered | Product Type, Application, Refrigerant Type |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
Air Conditioning Compressor Market Segmentation
By Product Type:
- Reciprocating Air Conditioner Compressor
- Scroll Air Conditioning Compressor
- Screw the Air Conditioning Compressor
- Rotary Air Conditioning Compressor
- Centrifugal Air Conditioning Compressor
By Application:
- Residential
- Commercial
- Medical & Healthcare
- Industrial
- Transportation
By Refrigerant type:
- R410A
- R22
- R404A
- R134A
- R290
- R32
- Others
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Air Conditioning Compressor Market Key Competitors include:
- Emerson Electric Co.
- Daikin Industries Ltd.
- LG Electronics
- The Danfoss Group
- Tecumseh Products Company LLC
- Panasonic Corporation
- GEA Group AG
- Johnson Controls–Hitachi Air Conditioning
- BITZER SE
- Officine Mario Dorin S.p.A.
- Atlas Copco
- Airman
- Bitzer
- BOGE
- Carlyle Compressors
- DOOSAN
- Elgi
- Embraco
- Hanbell
- Hongwuhuan
- Ingersoll Rand
- KAESER
- KAISHAN
- Kobelco
- RECHI Group
- Samsung,
Key questions answered in the Air Conditioning Compressor Market are:
- What is Air Conditioning Compressor?
- What is the current growth rate of the Air Conditioning Compressor Market?
- Who are the key players in the Air Conditioning Compressor Market?
- What are the factors affecting growth in the Air Conditioning Compressor Market?
- Who held the largest market share in Air Conditioning Compressor Market?
- What are the opportunities for the Air Conditioning Compressor Market?
- What are the strategies used by competitors in the Air Conditioning Compressor Market?
- What are the growth prospects in developing countries for the Air Conditioning Compressor Market?
- Which segment is expected to witness the fastest growth and why in the Air Conditioning Compressor Market?
- What is the demand pattern for the Air Conditioning Compressor Market?
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Maximize Market Research is leading research firm, has also published the following reports:
Air Conditioning Market: Air Conditioning Market is segmented into Technology (Manual/Semi-automatic Air conditioning, Automatic air conditioning), Component (Compressor, Evaporator, Fan, Condenser Coil), Product (Room/Unitary Air Conditioners, Chillers, VRF Systems, Coolers, Others), End User (Automotive, Commercial, Industrial, Residential) and Geography (North America, Asia Pacific, Europe, Latin America, and Middle East & Africa). Global Air Conditioning Market was valued at US$ 93.2 Bn in 2018 and is expected to reach US$ 140.99 Bn by 2026, at a CAGR of 5.31 % during a forecast period.
Aircraft air conditioning system market - The report of the global aircraft air conditioning system market by Type (Air Cycle Air Conditioning, Vapor Cycle Air Conditioning) Power (Gasoline, Electric, LPG, Diesel) Application (General, Aviation, Airline, Business Aircraft, Others) Region (North America, Europe, Asia Pacific, South America, Middle East, and Africa) is expected to reach US$ XX Bn by 2027, at a significant CAGR during a forecast period.
Automotive Air Conditioning Market - The report Automotive Air Conditioning Market By Component (Compressor, Evaporator, Receiver, Condenser) By Vehicle Type (Passenger Vehicles, Commercial Vehicle,) By Sales Channel (Original Equipment Manufacturer (OEMs), Aftermarket), by Region (North America, Europe, Asia Pacific, Middle East & Africa and Latin America) Global Automotive AIR Conditioning market was valued US$ 3.75 Bn in 2019 and is expected to reach US$ 5.53 Bn by 2027 at a CAGR of about 6.32% during a forecast.
Ducted Air Conditioning Market is expected to grow at a CAGR of 4.53% during the forecast period. Global Ducted Air Conditioning Market is expected to reach US$ 11.39 Bn. by 2027. Improved product development, combined with technological proliferation, is expected to boost industry growth. Customers' living standards in emerging countries are rising, as is infrastructure spending.
Residential Air Purifiers Market size was valued at USD 3.92 Bn. in 2021 and the total Residential Air Purifiers Market revenue is expected to grow by 6.3 % from 2022 to 2029, reaching nearly USD 6.39 Bn. Increasing industrialization, stringent environmental protection legislation, and public awareness of pollution control all benefit market growth, particularly in the United States.
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