Compressor Mounted Refrigerator Market- Overview

Global compressor mounted refrigerator market was valued at USD 13,500 million in 2022 and is estimated to reach a value of USD 25,550 million by 2033 with a CAGR of 6.1% during the forecast period 2023-2033. A refrigerator compressor is one that condenses the refrigerant inside the refrigerator. In order to produce cooling in the refrigerator, the compressor is crucial. The food can be kept fresh for a very long time in this method.

Report Scope

Compressors for refrigeration systems are frequently utilised in commercial and industrial settings. Demand for refrigerated compressors is anticipated to increase with the use of refrigeration compressors in more sectors for a variety of purposes, including healthcare, food and beverage, transportation, and retail food outlets.

There is also a growing need for refrigeration compressors due to the pharmaceutical industry's rapid expansion and the vehicle industry's need to maintain high air quality in four-wheelers. In addition, the growing number of supermarkets, convenience stores, and other retail establishments has increased the demand for compressors and other appropriate refrigeration systems.

Compressor Mounted Refrigerator Market- Key trends

Demand for refrigeration compressors due to increasing concerns regarding safety of perishable foods will help the market growth

Refrigeration compressor demand is also being driven by the export of food products as a result of growing worries about the safety of perishable foods and the requirement for better cooling capabilities during transportation. During the anticipated period, this is anticipated to contribute to an increase in the market's demand for refrigeration compressors.

Increasing demand for refrigeration compressors from various industries to preserve foods, chemicals, etc will increase the market growth

Removing heat from a substance or an enclosed space in order to bring it to the proper temperature is known as refrigeration. The system's refrigerant is circulated via refrigeration compressors. The three main types of refrigeration compressors are centrifugal, rotary, and reciprocating. The global refrigeration compressors market is anticipated to see growth during the forecast period as a result of rising demand from various sectors to preserve foods, chemicals, etc.

COVID Impact

The COVID-19 pandemic has had a significant impact on the compressor mounted refrigerators market. On one hand, the pandemic has increased the demand for refrigeration equipment, particularly for storing vaccines and other medical supplies, which has boosted the sales of compressor mounted refrigerators in the healthcare sector.

However, on the other hand, the pandemic has also disrupted the global supply chain, causing delays in the manufacturing and distribution of compressor mounted refrigerators. The lockdowns and restrictions on international trade have also affected the import and export of refrigeration equipment, which has led to shortages of certain products in some regions.

Moreover, the economic slowdown caused by the pandemic has resulted in a decline in consumer spending, which has impacted the sales of compressor mounted refrigerators in the residential and commercial sectors. Overall, the COVID-19 pandemic has had a mixed impact on the compressor mounted refrigerators market, with both positive and negative effects.

Compressor Mounted Refrigerator Market- Segmental assessment

Compressor mounted refrigerators are commonly used in commercial vehicles for transporting perishable goods, such as food and beverages. The demand for compressor mounted refrigerators in commercial vehicles has been increasing in recent years due to the growth of the e-commerce industry and the rising demand for home delivery services.

Moreover, the increasing focus on food safety and quality has led to the adoption of advanced refrigeration technologies in the transportation industry, which has further fueled the demand for compressor mounted refrigerators in commercial vehicles. The trend towards the electrification of vehicles, including commercial vehicles, has also created new opportunities for compressor mounted refrigerators.

As electric commercial vehicles become more common, the demand for compressor mounted refrigerators that are compatible with electric power sources is expected to increase. Overall, the demand for compressor mounted refrigerators in commercial vehicles is expected to continue to grow in the coming years, driven by the expansion of e-commerce and home delivery services, as well as the adoption of advanced refrigeration technologies and electric vehicles.

Compressor Mounted Refrigerator Market- Geographical landscape

The major regions constituting the geographical ambit of this business sphere are North America, Middle East & Africa, Europe, Asia Pacific, and South America. Among these, North America is projected to capture a substantial revenue share over 2022-2030.

Germany is one of the largest markets for compressor mounted refrigerators in Europe. The demand for compressor mounted refrigerators in Germany is primarily driven by the food and beverage industry, which is one of the largest industries in the country.

The growing demand for packaged and frozen food products, as well as the increasing focus on food safety and quality, has led to the adoption of advanced refrigeration technologies, including compressor mounted refrigerators, in the food and beverage industry in Germany.

Moreover, the trend towards energy-efficient and eco-friendly refrigeration solutions has further boosted the demand for compressor mounted refrigerators in Germany. The German government has introduced several initiatives and regulations aimed at promoting energy efficiency and reducing greenhouse gas emissions, which has encouraged the adoption of eco-friendly refrigeration technologies in the country.

In addition, the demand for compressor mounted refrigerators in Germany is also driven by the transportation industry, particularly in the commercial vehicle segment, as compressor mounted refrigerators are widely used in delivery vehicles for transporting perishable goods.

Overall, the demand for compressor mounted refrigerators in Germany is expected to continue to grow in the coming years, driven by the expansion of the food and beverage industry, the adoption of advanced refrigeration technologies, and the increasing focus on energy efficiency and sustainability.

Compressor Mounted Refrigerator Market- Competitive landscape

The prominent companies defining the competitive terrain of this marketplace are Indel B, Dometic, Sawafuji, Ezetil, ARB, Evakool, Living Direct, Whynter, Ironman, PNDA, and others.

By Type

• Portable type

• Fixed type

• Others

By Application

• Passengers’ cars

• Commercial vehicles

• Others

Regions

North America

·         U.S.

·         Canada

·         Mexico

Europe

·         Germany

·         U.K.

·         France

·         Italy

·         Spain

·         Russia

·         Rest of Europe

Asia Pacific

·         China

·         Japan

·         India

·         Australia

·         Korea

·         Rest of Asia pacific

South America

·         Brazil

·         Argentina

·         Colombia

·         Rest of South America

Middle East & Africa

·         UAE

·         Saudi Arabia

·         Egypt

·         Oman

·         Kuwait

·         South Africa

·         Rest of MEA