Refrigerant Compressors Market : Good Opportunity to Hit New Growth Level 2022-2027
The global Refrigerant compressors market steadily rising demand for advanced cold storage facilities has positively influenced. World over, there is a growing emphasis on building resilient cold chains to better store, maintain, and transport items that require special handling. Moreover, as consumers are more inclined towards procuring ready-to-eat food items, the demand for efficient refrigerant compressors is on a rise. Several medical facilities also require advanced refrigerant compressors to facilitate storage of critical vaccines and medicines.
Further, owing to concerns around
safety and environmental impact, manufacturers are gradually shifting towards
natural refrigerators, creating new business opportunities in the refrigerator
compressors market. In the coming years, these developments are poised to
positively influence strategic ventures, innovation, product differentiation,
and the competitive landscape of the global refrigerant compressors market.
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High
Consumption of Processed Food Items to Soar Demand for Refrigerant Compressors
Over the past decade, the demand for
processed, frozen, and ready-to-consume food items has recorded a phenomenal
increase. Consumers across the world are preferring quick-to-prepare food
products due to busier lifestyles. The shift towards processed food items has
created a considerable demand for advanced and energy-efficient cold storage
systems. Refrigerant compressors are vital in the transportation, storage, and
maintenance of food items in the entire cold chain. As a result, the food and
beverages segment has emerged as a key demand pool in the global refrigerant
compressors market. Moreover, on the consumer end, the call for highly
convenient services and products is expected to exponentially increase the
demand for ready-to-eat food items, further accelerating the refrigerant
compressors market towards sound expansion.
Demand
for CO2 Refrigerant Compressors to Rise Amid Growing Environmental
Concerns
The hazardous impact of chlorofluorocarbons
(CFC) on the ozone layer is widely known. This has propelled manufacturers in
the refrigerant compressors market to switch to natural refrigerants such as CO2,
water, hydrocarbons, and ammonia. Among these, the adoption of CO2 as
a substitute for CFCs is predicted to gain traction over the foreseeable
future. Using CO2 offers several benefits such as low dynamic
viscosity and kinetic viscosity, higher thermal conductivity, small volume and
pressure ratio, high heat capacity and safety, less surface tension, and large
per unit volume refrigerating capacity. Consequently, owing to their superior
performance and eco-friendlier characteristics, key players in the refrigerant
compressors market are expected to increase the adoption of CO2
refrigerant compressors.
Asia
Pacific to Lead as Promising Regional Player
Asia Pacific is poised to emerge as a
highly promising region for the growth of the refrigerant compressors market.
In this region, emerging as well as leading economies such as China and India
are set to significantly contribute towards the expansion of its refrigerant
compressors market. The main growth drivers across APAC include flourishing
end-use industries, rising demand for cold storage facilities, air
conditioners, and biomedical refrigerators, robust pursuit of decarbonization
efforts, and competitive pricing. The cumulative force of these factors is
projected to open fresh revenue streams and business opportunities in the
refrigerant compressors market of the Asia Pacific.
Some of the key market players in the
global refrigerant compressors market include Embraco, Bitzer, Emerson Electric, GMCC Company, Daikin
Industries Ltd., Danfoss, and Dorin S.p.A among others.
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