Prominent Growth Factors Include Rising Demand in Food & Beverage Industries, Emphasis on Energy Efficiency, and Technological Advancements
Future Market Insights (FMI), an ESCOMAR certified market research and consulting firm, has released a comprehensive report forecasting the growth trajectory of the global commercial RAC PD compressor market. According to the report, the market was valued at US$ 5.1 billion in 2022 and is projected to reach a valuation of US$ 8 billion by 2033, exhibiting a steady Compound Annual Growth Rate (CAGR) of 4.2% during the period from 2023 to 2033.
Rising Demand in Various Industries Fuels Market Expansion
The increasing application of commercial RAC PD compressors in the food and beverage industries is expected to drive the market’s growth. As the emphasis on energy-efficient and environmentally friendly refrigeration and air conditioning systems continues to grow, the demand for these compressors is escalating. Leading players in the commercial RAC OD compressor market are adopting advanced technologies, thereby propelling the demand for RAC PD compressors across various industries. Additionally, the rapid advances in technology are paving the way for new growth prospects for manufacturers in the commercial RAC PD compressor segment.
Expanding Commercial Infrastructure Drives Demand
The current focus on developing greener and more efficient air conditioning systems to reduce carbon dioxide emissions has led to increased sales of commercial freezer compressors. The rising number of educational institutions, offices, hospitals, and shopping malls worldwide is expected to further boost compressor sales. The market is also benefiting from the popularity of new-generation cooling appliances equipped with advanced features. Particularly in regions experiencing extreme heat conditions, the demand for air conditioners is on the rise, consequently driving compressor sales.
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Key Players’ Initiatives and Competitive Landscape
The global commercial RAC PD compressor market is characterized by a high degree of fragmentation, with numerous players vying for market share. Many of these companies are pivoting towards hydrocarbons like R290 and R600a, driven by stringent government policies supporting the use of environmentally friendly commercial freezer compressors. In addition, some key players are adopting innovative technologies such as Intermediate Discharge Valves (IDV) and introducing inverter (variable) speed compressors to enhance part-load efficiency.
For instance, in January 2022, Thermo King, a USA-based manufacturer of transport temperature control systems, announced its plans to transition to a lower Global Warming Potential (GWP) refrigerant for its trailer and truck units. This move is expected to reduce the carbon footprint of refrigerants utilized by customers’ delivery fleets by approximately 50%. Similarly, in August 2021, Emerson, a US multinational corporation, unveiled its new 36kW inverter drive solution and Copeland 110cc variable speed scroll compressor, aimed at offering energy-saving improvements for various commercial air-conditioning applications.
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Top 10 Key Players:
- Emerson Electric Co.
- The Danfoss Group
- Mitsubishi Electric Corporation
- GEA Group AG
- LG Electronics, Inc.
- Huayi Compressor Co., Ltd.
- Panasonic Corporation
- Midea Group
- Midea Group
- Bitzer SE
Regional Insights: Growth Contributors
While the market’s growth is global in nature, certain regions have emerged as significant contributors. North america has witnessed substantial growth in the commercial RAC PD compressor market due to. This growth trajectory is projected to continue over the forecast period, solidifying north america as a vital hub for the global market expansion.
Commercial RAC PD Compressor Market by Category
By Product Type:
- Reciprocating
- Scroll
By Cooling Capacity:
- Less than 6 Kw
- 7-10 kw
- 11-15 kw
- 16-20 kw
- 21-30 kw
- 30-50 kw
- 50-100 kw
- 100-200 kw
By Refrigerant:
- R290
- R404A
- R410A
- R744
- R134A
- R407C
- By Application:
- Refrigeration
- Air Conditioning
By End-use Sector:
- Supermarkets and Convenience Stores
- Hotels & Restaurants
- Office and Institutions
- Food & Beverages Transport
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East & Africa
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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