Refrigerant Compressors Market By Type, By Application, By Geography — Global Industry Analysis, Growth, Share, Size, Trends, And Forecast 2019–2026

The Global Refrigerant Compressors Market was valued at USD 15.4 Billion in 2016, exhibiting a healthy CAGR of 4.2% over forecast period 2020–2026. Factors like rising demand for air conditioners and refrigerators, growth of the automotive HVAC market and increase in use of refrigerators for commercial and household purpose are set to trigger the market growth.

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A compressor forms the core of a refrigerant process. The basic functions of a compressor with refrigerators is to provide the cool vaporized refrigerant that transports the heat energy from evaporator coils to the refrigeration loop by compressing the heat energy from a low pressure to a high temperature. In other environments such as data centers, the compressor type has a direct impact on the cooling systems followed by enhanced capacity for upstream power and generators as needed by the refrigeration cooling systems. Technically, compressors feature in drive speed, frequency of stages, cooling methods and lubricating methods.

There can be several type of compressors such as reciprocating compressors, rotary vane compressors, rotary scroll compressors, rotary screw compressors and centrifugal compressors. The practical applications for each type varies from one another and the selection decision also depends upon the functionality a compressor offers to the cooling systems. For instance, reciprocating compressor and rotary vane compressors are used within household purpose and residential and commercial air conditioning applications but both operate at different frequencies although. On other hand, rotary screw compressor and centrifugal compressors are commercially used at high frequencies purely based on industrial purpose and commercial scope.

Refrigerant Compressors Market Drivers:

Refrigerant compressors market is significantly driven by the surge in retail sector that are flourishing at a rapid pace owing to rise in demand from the commercial and domestic sector. Moreover, the market is influenced by e-commerce and retail segments. Lucrative offers for replacement and effective aftermarket sales service is likely to trigger the market growth in the forecast period.