The USA scroll compressor market report, unveiled by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—presents invaluable insights and meticulous analysis of the USA scroll compressor market.
Encompassing the research’s scope and essence, this report scrupulously examines the driving factors, market size, and predictive data for the USA scroll compressor. It furnishes intricate revenue and shipment segmentations and a decade-long projection up to 2033. Additionally, the document evaluates key industry players, their market distribution, the competitive scenario, and regional perspectives.
According to a recent market analysis by Future Market Insights (FMI), the USA scroll compressor market is anticipated to reach US$ 1,703.6 Million in 2033, expanding at a CAGR of 4.9% from 2023 to 2033.
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The USA scroll compressor market is a fast-growing market driven primarily by increasing demand for energy-efficient systems. Rising environmental awareness and growing requirements for air conditioning and refrigeration systems are also prominent factors pushing sales in this market.
Along with this factor, prominent players are focused on acquisitions, mergers, and partnerships with regional players. Furthermore, the leading players are expanding their range of compressors compatible with low GWP refrigerates. This is particularly happening in regions that have strict norms against the use of high GWP refrigerants, like the USA.
The USA scroll compressor industry is driven by several additional factors, like the growth of the service industry and the oil-free scroll compressor segment.
The market, however, also faces some challenges. A few of these would be intense competition and fluctuating raw material prices. The market has only recently begun recovering from the impact of COVID-19 and political instability from the Ukrainian crisis on supply chains.
These factors may hinder the growth of the market in the short term, but the long-term outlook remains positive due to increasing demand for sustainable and energy-efficient solutions.
Key Takeaways of USA Scroll Compressor Market Study:
- Over the course of the forecast period, the market share of the refrigeration sector is estimated to grow to about 80% of the total value.
- The total revenue from the USA scroll compressor market in 2022 was calculated to be around US$ 1013.2 Million.
- Scroll compressor sales in the USA are expected to hit US$ 1056.7 Million by 2023-end.
- The USA scroll compressor market is projected to hit a value of US$ 1703.6 Million by the end of the forecast period 2023 to 2033.
- The CAGR for the forecast period 2023 to 2033 is estimated to be 4.9%.
- The estimated collective value share of the top 5 companies is set at 25-30% by 2023-end.
Competitive Landscape:
Market participants vie with one another in terms of quality, price, performance, dependability, and novelty. Companies strive to stay ahead of the competition by continually innovating and expanding their product lines to meet the diverse needs of their customers. Large sums are also spent on research & development to enhance product quality and functionality by businesses.
The major players in the market are working to expand their customer base by improving their distribution channels and offering after-sale services like repairs and set-up. To raise awareness of their products, the major players use a wide range of promotional tactics, such as paid search advertising, social media marketing, and attendance at industry events.
Some key players in the market covered in the report are Midea Group (GMCC), Daikin Compressor Industries Limited, Zhuhai Landa Compressor Co. Ltd. (Gree), Panasonic Corporation, LG Electronics.
Recent Developments:
- In November 2021, Emerson announced the launch of its new Copeland ZX scroll compressor range for commercial refrigeration applications.
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USA Scroll Compressors Market Segmentation:
By Type:
- Air Conditioning
- Residential (1HP to 6HP)
- Commercial (7.5 HP to 30 HP)
- Refrigeration
- Condensing units (1 HP to 10HP)
- Industrial (10HP to 30 HP)
By Region:
- West USA
- Mid-West USA
- North East USA
- South USA
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