Refrigeration Compressor Market Outlook (2022 to 2032)

The global refrigeration compressor market size is expected to grow from US$ 37,597.8 Million in 2022 to US$ 53,732.1 Million by 2032, with overall sales exhibiting a CAGR of 3.6% throughout the forecast period (2022 to 2032).

The strengthening cold chain capabilities, expanding FMCG packaging industry, and increasing retail outlets are anticipated to boost demand for refrigerators and refrigeration compressors during the forecast period. Refrigeration is the process of removing heat from a substance or an enclosed space to lower the temperature and provide a cooling effect.

The fundamental component of refrigeration, the refrigerant compressor pumps the refrigerant throughout the system and dissipates heat into the environment. It regulates the refrigerant's flow and applies pressure, which makes the refrigerant heat up.

Refrigeration compressors are being increasingly used in a multitude of applications such as residential, transportation, healthcare, food & beverages, chemical, and retail food outlets. They provide a suitable temperature that protects sensitive/perishable products from spoilage. Hence, increasing adoption across various industries will generate high demand for refrigeration compressors.

Similarly, increasing export of food products and rising food insecurity are creating lucrative growth prospects for the global commercial refrigeration compressor industry. Most of the food produced globally gets wasted due to a lack of adequate storage and transportation facilities.

For instance, as per the Food and Agriculture Organization of the United Nations, an estimated 1.6 billion tonnes of food produced globally is lost or goes to waste. This growing food insecurity is prompting people to use cooling systems like refrigeration compressors for storing and transporting food products.

To carry perishable food goods from one location to another, refrigeration systems are frequently employed in the transportation sector. The market for refrigeration compressors is expanding significantly in the transportation sector as a result of the sharp rise in demand for frozen goods, packaged foods, etc. The development of bacteria and harmful pathogens is slowed down by refrigeration, hence reducing the risk of foodborne illnesses. Because of this development, the market for refrigeration compressors is anticipated to expand quickly. The global market for refrigeration compressors represents around 55-60% of the overall refrigeration and air conditioning compressors market.

Attribute Key Insights
Global Refrigeration Compressor Market Base Value (2021A) US$ 36,513.5 Million
Estimated Market Value (2022E) US$ 37,597.8 Million
Projected Market Value (2032F) US$ 53,732.1 Million
Value-based CAGR (2022 to 2032) 3.6%
Collective Value Share: Top 3 Countries (2022E) 47.8%

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2017 to 2021 Global Refrigeration Compressor Market Outlook Compared to 2022 to 2032 Forecast

According to Future Market Insights, the global refrigeration compressor market witnessed a CAGR of 2.3% during the historical period from 2017 to 2021 and reached a valuation of US$ 36,513.5 Million at the end of 2022.

However, with a rising focus on protecting perishable food and pharmaceutical products from spoilage during storage and transportation, the overall demand for refrigeration compressors is expected to grow at 3.6% CAGR between 2022 and 2032.

Refrigerator compressors are widely used in various applications, such as food and beverage, transportation, chemicals, health care, and grocery stores. They provide the right temperature that protects sensitive/perishable food and other chemical products from decay.

Due to the widening application of refrigeration compressors across industries like food & beverage, transportation, and healthcare, the overall refrigeration compressor industry is set to grow at a steady pace over the next ten years.

Similarly, increasing adoption of new cooling appliances, rising demand from food service providers, and an increase in retail stores are expected to boost sales of refrigeration compressors through 2032.

What are the Key Trends Driving the Global Market Refrigeration Compressors?

Growing Demand for Fast-Moving Consumer Goods Boosting Market

As per FMI, factors such as rising demand for FMCG goods worldwide, increasing consumption of processed foods, and expansion of cold chain infrastructure will continue to boost the sales of refrigeration compressors during the forecast period.

Many FMCG goods require cold-temperature storage because of their perishable nature. Similarly, packaged beverages and foods need proper refrigeration systems for storage. During the last few decades, there has been a growth in demand for fast-moving consumer goods items and the trend is likely to continue during the coming years.

Manufacturers are expanding their production capacity, building new facilities, and adopting cutting-edge storage technologies such as refrigeration compressors to meet this growing demand. With demand for FMCG goods continuing to rise, the worldwide market for refrigeration compressors will thrive steadily over the next ten years.

Similarly, the need for refrigeration systems is predicted to rise as a result of the expansion of current facilities and the opening of retail stores in new locations. The market for retail stores is growing with the rising population and rising consumer preference for retail stores in developing countries. This is estimated to create the demand for commercial refrigerators which in turn will positively influence the refrigeration compressors industry.

Expansion of Cold-Chain Infrastructure to Elevate Demand Through 2032

The rapid expansion of the cold chain infrastructure across the world is fuelling the demand for refrigeration compressors and the trend is expected to continue during the projected period. Food trade is rising rapidly in emerging nations thanks to a robust cold chain infrastructure and warehouses, which is driving up demand for refrigeration compressors.

The demand for small cold storage systems for frozen and perishable food delivery services is growing, which will open up new business prospects for the refrigeration compressor industry.

Similarly, with increasing consumer preference for eco-friendly refrigerant compressors, more energy-efficient appliances are expected to generate new market opportunities for compressor manufacturers.

The global market for home appliances is changing at an accelerating rate due to several factors including expanding middle-class population, increased consumer purchasing power, sustainability, and digitalization. Hence, growth in the demand for consumer appliances across the globe will continue to create significant opportunities for refrigeration compressor manufacturers.

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Nikhil Kaitwade

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Country-wise Insights

Why is the Demand for Refrigeration Compressors Increasing in Germany?

Growing Number of Restaurants Propelling Refrigeration Compressors’ Sales in Germany

Between 2022 and 2032, the overall demand for refrigeration compressors in Germany is estimated to grow at a CAGR of 2.4%. The rise of quick-service restaurants (QSR) and fast-food outlets is one of the key factors driving the refrigeration compressor industry forward in Germany.

Germany is the prominent market for food and beverages in Europe. According to Germany Trade and Invest (GTAI), total food retail sales in Germany increased significantly by 8.2%, reaching EUR 227 billion in 2020. This is positively influencing refrigeration compressor sales in the country and the trend is expected to continue during the forecast period.

Furthermore, the market for refrigerator compressors in Germany will expand due to factors such as rising consumer purchasing power, changing lifestyles, growing demand for packaged and frozen foods, and an increase in the number of retail establishments.

How Will Growth Unfold in the China Market?

Rising Adoption of HVAC Systems in Residential and Commercial Sectors Booting China Market

In terms of volume, China's refrigeration compressor market is anticipated to grow at 2.8% CAGR between 2022 and 2032. Growth in the market is driven by the rapid expansion of residential and commercial sectors and the subsequent usage of refrigeration compressors in these sectors.

A significant reason driving up sales of refrigeration compressors in China is the country's enormous growth in the residential and commercial sectors. Urbanization and rising disposable income will fuel demand for HVAC systems, which in turn will create prospects for refrigeration compressors.

Similarly, the rising export of food products is playing a key role in fostering sales of refrigeration compressors. Due to the robust development of the agriculture sector and the increasing adoption of modern technologies,

China's food export industry is expanding rapidly. Refrigeration compressors are being placed in distribution centres, manufacturing facilities, and transportation vehicles in order to provide improved cooling storage facilities for exporting food items. This will continue to fuel the growth of the refrigeration compressors industry in China during the forecast period. FMI predicts the China market to surpass revenues worth US$ 10,321.6 Million by the end of 2032.

Why is the USA Emerging as a Promising Market for Refrigeration Compressor Manufacturers?

Increasing Export of Food Products to Push Refrigeration Compressor Demand in the USA

The USA refrigeration compressor market is expected to rise at nearly 3.0% CAGR over the forecast period, reaching a market valuation of US$ 10,313.4 Million by the end of 2032. This can be attributed to increasing food exports, improving consumer awareness, and growing adoption of cooling technologies in industrial and commercial settings.

The USA has become one of the top exporters of food products during the past few years and the trend is expected to continue during the upcoming decade. According to the WorldAtlas report, the country exported food products worth US$ 72,682,349.79 in 2016.

Refrigeration compressors are used by logistical companies and transporters in the nation to preserve these food items. Hence, demand for refrigeration compressors is set to grow at a steady pace over the projected period.

Category-wise Insights

Which is the Top Selling Product Type in the Market?

Reciprocating Compressors Remain the Most Sought-After Product Type

Based on product type, the global market is segmented into reciprocating compressors, scroll compressors, rotary compressors, centrifugal compressors, and screw compressors. Among these, the reciprocating compressors segment holds the largest market share and it is projected to create an absolute $ opportunity of more than US$ 7,280.1 Million during the forecast period. This can be ascribed to the widespread usage of reciprocating compressors in numerous refrigeration applications.

Reciprocating compressors have several benefits, including greater efficiency, minimal maintenance costs, high-pressure generation, and flexibility in application. Sales of refrigeration compressors will rise throughout the projection period with its rapidly increasing application sector. Reciprocating type compressor is

Which is the Most Commonly Used Refrigerant Type?

R-134a to Remain the Most Preferred Refrigerant Type

In terms of refrigerant, R-134a is the refrigerant that records more demand from consumers. The reason R134a is used so extensively is due to its excellent thermal stability, critical temperature, and non-toxic, non-flammable, and non-corrosive qualities.

R-134a is used in a variety of solutions. This refrigerant type is very safe to use, and easy to change. As a result, it is commonly used in residential, commercial, and industrial applications. FMI has predicted the R-134a refrigerant segment to grow at 2.2% CAGR during the forecast period.

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Competitive Landscape

There is significant competition in the market for refrigeration compressors. Leading market players frequently upgrade their product portfolios to stay ahead of their competitors. Furthermore, they are pursuing a competitive advantage using a range of organic and inorganic strategies, such as new product launches, mergers, partnerships, collaborations, and acquisitions.

For instance:

  • In March 2022, Danfoss extended the cooling capacity range of its Optyma™ condensing '000 Units and released the A2L-compatible MLZ and LLZ scroll compressors
  • In August 2021, Embraco, a global provider of refrigeration technology for the complete domestic and commercial cold chain, and part of the Nidec Global Appliance portfolio of brands launched a new portfolio of refrigeration condensing '000 Units in Japan.
  • In November 2020, Emerson launched New Copeland™ Scroll Compressors for commercial comfort applications to meet efficiency and refrigerant regulations.

Scope of Report

Attribute Details
Estimated Market Size (2022) US$ 37,597.8 Million
Projected Market Size (2032) US$ 53,732.1 Million
Anticipated Growth Rate (2022 to 2032) 3.6% CAGR
Forecast Period 2022 to 2032
Historical Data Available for 2017 to 2021
Market Analysis US$ Million for Value and 000’ Units for Volume
Key Regions Covered North America; Latin America; Europe; South Asia; East Asia; the Middle East; and Africa
Key Countries Covered USA, Canada, Brazil, Mexico, Germany, Italy, France, United Kingdom, Spain, NORDICS, Russia, Turkey, South Africa, GCC Countries, Northern Africa, Japan, China, South Korea, ASEAN, and India.
Key Segments Covered Product Type, Refrigerant Type, Application, Region
Key Companies Profiled Nidec Corporation; Emerson Electric Co.; GEA Group AG; The Danfoss Group; Midea Group; Tecumseh Products Company LLC.; Mitsubishi Electric Corporation; LG Electronics, Inc.; Changhong Huayi Compressor Co., Ltd.; Panasonic Corporation; Frascold S.p.A.; Johnson Controls–Hitachi Air Conditioning; Carrier Corporation
Report Coverage Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats
Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives

Global Refrigeration Compressor Industyry by Category

By Product Type:

  • Reciprocating
  • Rotary
  • Scroll
  • Screw
  • Centrifugal

By Refrigerant Type:

  • R410A
  • R407C
  • R404A
  • R134A
  • R290
  • R600a
  • Others

By Application:

  • Residential
  • Commercial
  • Medical & Healthcare
  • Industrial
  • Transportation

By Region:

  • North America
  • Latin America
  • Europe
  • South Asia & Pacific
  • East Asia
  • Middle East and Africa

Frequently Asked Questions

What is the current size of the global refrigeration compressor market?

The global market for refrigeration compressors is expected to total US$ 37,597.8 Million in 2022.

At what rate will the demand for refrigeration compressors rise during a forecast period?

Demand for refrigeration compressors is expected to increase at 3.6% CAGR during the forecast period from 2022 to 2032.

What is the projected valuation for the global market for refrigeration compressors by 2032?

By 2032, the worldwide market for refrigeration compressors is expected to surpass a valuation of US$ 53,732.1 Million.

Who are the top players in the global refrigeration compressor industry?

Nidec Corporation, Emerson Electric Co., GEA Group AG, The Danfoss Group, Midea Group, Tecumseh Products Company LLC., Mitsubishi Electric Corporation LG Electronics, Inc., Changhong Huayi Compressor Co., Ltd., Panasonic Corporation, Frascold S.p.A., Johnson Controls–Hitachi Air Conditioning, Carrier Corporation are the leading players operating in the global refrigeration compressor industry.

What is the market outlook for refrigeration compressors in China?

Demand for refrigeration in China is expected to increase at 3.0% CAGR between 2022 and 2032 on a value basis.

Which countries are the key consumers of refrigeration compressors?

The USA, China, Germany, India, and Japan are the key consumers of refrigeration compressors.

Table of Content
1. Executive Summary | Refrigeration Compressor Market
    1.1. Global Market Outlook
    1.2. Demand Side Trends
    1.3. Supply Side Trends
    1.4. Analysis and Recommendations
2. Market Overview
    2.1. Market Coverage / Taxonomy
    2.2. Market Definition / Scope / Limitations
3. Key Market Trends
    3.1. Key Trends Impacting the Market
    3.2. Product Innovation / Development Trends
4. Key Success Factors
    4.1. Product Adoption / Usage Analysis
    4.2. Product USPs / Features
    4.3. Strategic Promotional Strategies
5. Global Market Demand Analysis 2017 to 2021 and Forecast, 2022 to 2032
    5.1. Historical Market Volume (‘000 Units) Analysis, 2017 to 2021
    5.2. Current and Future Market Volume (‘000 Units) Projections, 2022 to 2032
    5.3. Y-o-Y Growth Trend Analysis
6. Global Market - Pricing Analysis
    6.1. Regional Pricing Analysis By Product Type
    6.2. Global Average Pricing Analysis Benchmark
7. Global Market Demand (in Value or Size in US$ Million) Analysis 2017 to 2021 and Forecast, 2022 to 2032
    7.1. Historical Market Value (US$ Million) Analysis, 2017 to 2021
    7.2. Current and Future Market Value (US$ Million) Projections, 2022 to 2032
        7.2.1. Y-o-Y Growth Trend Analysis
        7.2.2. Absolute $ Opportunity Analysis
8. Market Background
    8.1. Macro-Economic Factors
        8.1.1. Global GDP Growth Outlook
        8.1.2. Global Population Overview
        8.1.3. Global Manufacturing Value-Added Outlook
        8.1.4. Global Oil Demand Outlook
        8.1.5. Global Consumer Spending on Grocery Stores
        8.1.6. Global Retail Sector Outlook
        8.1.7. Global Refrigerated Display Case Market Outlook
        8.1.8. Global Walk-in Coolers and Freezers Market Outlook
        8.1.9. Global Beverage Refrigeration Equipment Market Outlook
        8.1.10. Global Oil Production Overview
    8.2. Forecast Factors - Relevance & Impact
        8.2.1. Historic Growth Rate of Companies
        8.2.2. Global Refrigerators Production Growth
        8.2.3. Global Food & Beverages Industry Growth
        8.2.4. Global Construction Industry Growth
        8.2.5. GDP Growth Forecast
        8.2.6. Global Population Growth
        8.2.7. Growth in the Retail Sector
    8.3. Value Chain
        8.3.1. List of Manufacturers
        8.3.2. List of Suppliers & Distributors
        8.3.3. End-Use Industries
    8.4. COVID-19 Crisis – Impact Assessment
        8.4.1. Current Statistics
        8.4.2. Short-Mid-Long Term Outlook
        8.4.3. Likely Rebound
    8.5. Market Dynamics
        8.5.1. Drivers
        8.5.2. Restraints
        8.5.3. Opportunity Analysis
9. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Product Type
    9.1. Introduction
    9.2. Historical Market Size (US$ Million) and Volume Analysis By Product Type, 2017 to 2021
    9.3. Current Market Size (US$ Million) and Volume Analysis and Forecast By Product Type, 2022 to 2032
        9.3.1. Rotary
            9.3.1.1. Less than 5 KW
            9.3.1.2. 5 to 30 kW
            9.3.1.3. 30 to 100 kW
            9.3.1.4. 100 to 300 kW
            9.3.1.5. 300 to 500 kW
            9.3.1.6. 500 to 1000 kW
            9.3.1.7. Above 1000 kW
        9.3.2. Scroll
            9.3.2.1. Less than 5 KW
            9.3.2.2. 5 to 30 kW
            9.3.2.3. 30 to 100 kW
            9.3.2.4. 100 to 300 kW
            9.3.2.5. 300 to 500 kW
            9.3.2.6. 500 to 1000 kW
            9.3.2.7. Above 1000 kW
        9.3.3. Reciprocating
            9.3.3.1. Less than 5 KW
            9.3.3.2. 5 to 30 kW
            9.3.3.3. 30 to 100 kW
            9.3.3.4. 100 to 300 kW
            9.3.3.5. 300 to 500 kW
            9.3.3.6. 500 to 1000 kW
            9.3.3.7. Above 1000 kW
        9.3.4. Screw
            9.3.4.1. Less than 5 KW
            9.3.4.2. 5 to 30 kW
            9.3.4.3. 30 to 100 kW
            9.3.4.4. 100 to 300 kW
            9.3.4.5. 300 to 500 kW
            9.3.4.6. 500 to 1000 kW
            9.3.4.7. Above 1000 kW
        9.3.5. Centrifugal
            9.3.5.1. Less than 5 KW
            9.3.5.2. 5 to 30 kW
            9.3.5.3. 30 to 100 kW
            9.3.5.4. 100 to 300 kW
            9.3.5.5. 300 to 500 kW
            9.3.5.6. 500 to 1000 kW
            9.3.5.7. Above 1000 kW
    9.4. Market Attractiveness Analysis By Product Type
10. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Refrigerant Type
    10.1. Introduction / Key Findings
    10.2. Historical Market Size (US$ Million) and Volume Analysis By Refrigerant Type, 2017 to 2021
    10.3. Current and Future Market Size (US$ Million) and Volume Analysis and Forecast By Refrigerant Type, 2022 to 2032
        10.3.1. R410A
        10.3.2. R407C
        10.3.3. R404A
        10.3.4. R134A
        10.3.5. R290
        10.3.6. R600a
        10.3.7. Others
    10.4. Market Attractiveness Analysis By Refrigerant Type
11. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Application
    11.1. Introduction / Key Findings
    11.2. Historical Market Size (US$ Million) and Volume Analysis By Application, 2017 to 2021
    11.3. Current and Future Market Size (US$ Million) and Volume Analysis and Forecast By Application, 2022 to 2032
        11.3.1. Residential
        11.3.2. Commercial
        11.3.3. Medical & Healthcare
        11.3.4. Industrial
        11.3.5. Transportation
    11.4. Market Attractiveness Analysis By Application
12. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Region
    12.1. Introduction
    12.2. Historical Market Size (US$ Million) and Volume Analysis By Region, 2017 to 2021
    12.3. Current Market Size (US$ Million) and Volume Analysis and Forecast By Region, 2022 to 2032
        12.3.1. North America
        12.3.2. Latin America
        12.3.3. Europe
        12.3.4. East Asia
        12.3.5. South Asia & Pacific
        12.3.6. Middle East & Africa
    12.4. Market Attractiveness Analysis By Region
13. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032
    13.1. Introduction
    13.2. Pricing Analysis
    13.3. Historical Market Size (US$ Million) and Volume Trend Analysis By Market Taxonomy, 2017 to 2021
    13.4. Market Size (US$ Million) and Volume Forecast By Market Taxonomy, 2022 to 2032
        13.4.1. By Country
            13.4.1.1. USA
            13.4.1.2. Canada
        13.4.2. By Product Type
        13.4.3. By Application
        13.4.4. By Refrigerant Type
    13.5. Market Attractiveness Analysis
        13.5.1. By Country
        13.5.2. By Product Type
        13.5.3. By Application
        13.5.4. By Refrigerant Type
14. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032
    14.1. Introduction
    14.2. Pricing Analysis
    14.3. Historical Market Size (US$ Million) and Volume Trend Analysis By Market Taxonomy, 2017 to 2021
    14.4. Market Size (US$ Million) and Volume Forecast By Market Taxonomy, 2022 to 2032
        14.4.1. By Country
            14.4.1.1. Brazil
            14.4.1.2. Mexico
            14.4.1.3. Rest of Latin America
        14.4.2. By Product Type
        14.4.3. By Application
        14.4.4. By Refrigerant Type
    14.5. Market Attractiveness Analysis
        14.5.1. By Country
        14.5.2. By Product Type
        14.5.3. By Application
        14.5.4. By Refrigerant Type
15. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032
    15.1. Introduction
    15.2. Pricing Analysis
    15.3. Historical Market Size (US$ Million) and Volume Trend Analysis By Market Taxonomy, 2017 to 2021
    15.4. Market Size (US$ Million) and Volume Forecast By Market Taxonomy, 2022 to 2032
        15.4.1. By Country
            15.4.1.1. Germany
            15.4.1.2. Italy
            15.4.1.3. France
            15.4.1.4. United Kingdom
            15.4.1.5. Spain
            15.4.1.6. BENELUX
            15.4.1.7. Russia
            15.4.1.8. Rest of Europe
        15.4.2. By Product Type
        15.4.3. By Application
        15.4.4. By Refrigerant Type
    15.5. Market Attractiveness Analysis
        15.5.1. By Country
        15.5.2. By Product Type
        15.5.3. By Application
        15.5.4. By Refrigerant Type
16. East Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032
    16.1. Introduction
    16.2. Pricing Analysis
    16.3. Historical Market Size (US$ Million) and Volume Trend Analysis By Market Taxonomy, 2017 to 2021
    16.4. Market Size (US$ Million) and Volume Forecast By Market Taxonomy, 2022 to 2032
        16.4.1. By Country
            16.4.1.1. China
            16.4.1.2. Japan
            16.4.1.3. South Korea
        16.4.2. By Product Type
        16.4.3. By Application
        16.4.4. By Refrigerant Type
    16.5. Market Attractiveness Analysis
        16.5.1. By Country
        16.5.2. By Product Type
        16.5.3. By Application
        16.5.4. By Refrigerant Type
17. South Asia Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032
    17.1. Introduction
    17.2. Pricing Analysis
    17.3. Historical Market Size (US$ Million) and Volume Trend Analysis By Market Taxonomy, 2017 to 2021
    17.4. Market Size (US$ Million) and Volume Forecast By Market Taxonomy, 2022 to 2032
        17.4.1. By Country
            17.4.1.1. India
            17.4.1.2. ASEAN
            17.4.1.3. Australia and New Zealand
            17.4.1.4. Rest of SAP
        17.4.2. By Product Type
        17.4.3. By Application
        17.4.4. By Refrigerant Type
    17.5. Market Attractiveness Analysis
        17.5.1. By Country
        17.5.2. By Product Type
        17.5.3. By Application
        17.5.4. By Refrigerant Type
18. Middle East Market Analysis 2017 to 2021 and Forecast 2022 to 2032
    18.1. Introduction
    18.2. Pricing Analysis
    18.3. Historical Market Size (US$ Million) and Volume Trend Analysis By Market Taxonomy, 2017 to 2021
    18.4. Market Size (US$ Million) and Volume Forecast By Market Taxonomy, 2022 to 2032
        18.4.1. By Country
            18.4.1.1. GCC Countries
            18.4.1.2. Turkey
            18.4.1.3. South Africa
            18.4.1.4. Northern Africa
            18.4.1.5. Rest of Middle East and Africa(MEA)
        18.4.2. By Product Type
        18.4.3. By Application
        18.4.4. By Refrigerant Type
    18.5. Market Attractiveness Analysis
        18.5.1. By Country
        18.5.2. By Product Type
        18.5.3. By Application
        18.5.4. By Refrigerant Type
19. Country-Wise Market Analysis 
    19.1. Introduction
        19.1.1. Market Value Proportion Analysis, By Key Countries
        19.1.2. Global Vs. Country Growth Comparison
    19.2. USA Market Analysis
        19.2.1. By Product Type
        19.2.2. By Application
        19.2.3. By Refrigerant Type
    19.3. Canada Market Analysis
        19.3.1. By Product Type
        19.3.2. By Application
        19.3.3. By Refrigerant Type
    19.4. Mexico Market Analysis
        19.4.1. By Product Type
        19.4.2. By Application
        19.4.3. By Refrigerant Type
    19.5. Brazil Market Analysis
        19.5.1. By Product Type
        19.5.2. By Application
        19.5.3. By Refrigerant Type
    19.6. Germany Market Analysis
        19.6.1. By Product Type
        19.6.2. By Application
        19.6.3. By Refrigerant Type
    19.7. Italy Market Analysis
        19.7.1. By Product Type
        19.7.2. By Application
        19.7.3. By Refrigerant Type
    19.8. France Market Analysis
        19.8.1. By Product Type
        19.8.2. By Application
        19.8.3. By Refrigerant Type
    19.9. United Kingdom Market Analysis
        19.9.1. By Product Type
        19.9.2. By Application
        19.9.3. By Refrigerant Type
    19.10. Spain Market Analysis
        19.10.1. By Product Type
        19.10.2. By Application
        19.10.3. By Refrigerant Type
    19.11. BENELUX Market Analysis
        19.11.1. By Product Type
        19.11.2. By Application
        19.11.3. By Refrigerant Type
    19.12. Russia Market Analysis
        19.12.1. By Product Type
        19.12.2. By Application
        19.12.3. By Refrigerant Type
    19.13. China Market Analysis
        19.13.1. By Product Type
        19.13.2. By Application
        19.13.3. By Refrigerant Type
    19.14. Japan Market Analysis
        19.14.1. By Product Type
        19.14.2. By Application
        19.14.3. By Refrigerant Type
    19.15. S. Korea Market Analysis
        19.15.1. By Product Type
        19.15.2. By Application
        19.15.3. By Refrigerant Type
    19.16. India Market Analysis
        19.16.1. By Product Type
        19.16.2. By Application
        19.16.3. By Refrigerant Type
    19.17. ASEAN Market Analysis
        19.17.1. By Product Type
        19.17.2. By Application
        19.17.3. By Refrigerant Type
    19.18. Australia and New Zealand Market Analysis
        19.18.1. By Product Type
        19.18.2. By Application
        19.18.3. By Refrigerant Type
    19.19. GCC Countries Market Analysis
        19.19.1. By Product Type
        19.19.2. By Application
        19.19.3. By Refrigerant Type
    19.20. Turkey Market Analysis
        19.20.1. By Product Type
        19.20.2. By Application
        19.20.3. By Refrigerant Type
    19.21. Northern Africa Market Analysis
        19.21.1. By Product Type
        19.21.2. By Application
        19.21.3. By Refrigerant Type
    19.22. South Arica Market Analysis
        19.22.1. By Product Type
        19.22.2. By Application
        19.22.3. By Refrigerant Type
20. Market Structure Analysis
    20.1. Market Analysis by Tier of Companies
    20.2. Market Share Analysis of Top Players
    20.3. Market Presence Analysis
21. Competition Analysis
    21.1. Competition Dashboard
    21.2. Competition Benchmarking
    21.3. Competition Deep Dive
        21.3.1. Emerson Electric Co.
            21.3.1.1. Overview
            21.3.1.2. Product Portfolio
            21.3.1.3. Profitability by Market Segments (Product Type, Refrigerant Type/Application/Region)
            21.3.1.4. Sales Footprint
            21.3.1.5. Strategy Overview
        21.3.2. Midea Group (GMCC)
            21.3.2.1. Overview
            21.3.2.2. Product Portfolio
            21.3.2.3. Profitability by Market Segments (Product Type, Refrigerant Type/Application/Region)
            21.3.2.4. Sales Footprint
            21.3.2.5. Strategy Overview
        21.3.3. Daikin Industries
            21.3.3.1. Overview
            21.3.3.2. Product Portfolio
            21.3.3.3. Profitability by Market Segments (Product Type, Refrigerant Type/Application/Region)
            21.3.3.4. Sales Footprint
            21.3.3.5. Strategy Overview
        21.3.4. Nidec Corporation
            21.3.4.1. Overview
            21.3.4.2. Product Portfolio
            21.3.4.3. Profitability by Market Segments (Product Type, Refrigerant Type/Application/Region)
            21.3.4.4. Sales Footprint
            21.3.4.5. Strategy Overview
        21.3.5. Mitsubishi Electric Corporation
            21.3.5.1. Overview
            21.3.5.2. Product Portfolio
            21.3.5.3. Profitability by Market Segments (Product Type, Refrigerant Type/Application/Region)
            21.3.5.4. Sales Footprint
            21.3.5.5. Strategy Overview
        21.3.6. Panasonic Corporation
            21.3.6.1. Overview
            21.3.6.2. Product Portfolio
            21.3.6.3. Profitability by Market Segments (Product Type, Refrigerant Type/Application/Region)
            21.3.6.4. Sales Footprint
            21.3.6.5. Strategy Overview
        21.3.7. LG Electronics
            21.3.7.1. Overview
            21.3.7.2. Product Portfolio
            21.3.7.3. Profitability by Market Segments (Product Type, Refrigerant Type/Application/Region)
            21.3.7.4. Sales Footprint
            21.3.7.5. Strategy Overview
        21.3.8. The Danfoss Group
            21.3.8.1. Overview
            21.3.8.2. Product Portfolio
            21.3.8.3. Profitability by Market Segments (Product Type, Refrigerant Type/Application/Region)
            21.3.8.4. Sales Footprint
            21.3.8.5. Strategy Overview
        21.3.9. Changhong Huayi Compressor Co. Ltd.
            21.3.9.1. Overview
            21.3.9.2. Product Portfolio
            21.3.9.3. Profitability by Market Segments (Product Type, Refrigerant Type/Application/Region)
            21.3.9.4. Sales Footprint
            21.3.9.5. Strategy Overview
        21.3.10. Carel Industries
            21.3.10.1. Overview
            21.3.10.2. Product Portfolio
            21.3.10.3. Profitability by Market Segments (Product Type, Refrigerant Type/Application/Region)
            21.3.10.4. Sales Footprint
            21.3.10.5. Strategy Overview
        21.3.11. Frascold S.p.A.
            21.3.11.1. Overview
            21.3.11.2. Product Portfolio
            21.3.11.3. Profitability by Market Segments (Product Type, Refrigerant Type/Application/Region)
            21.3.11.4. Sales Footprint
            21.3.11.5. Strategy Overview
        21.3.12. Tecumseh Products Company LLC
            21.3.12.1. Overview
            21.3.12.2. Product Portfolio
            21.3.12.3. Profitability by Market Segments (Product Type, Refrigerant Type/Application/Region)
            21.3.12.4. Sales Footprint
            21.3.12.5. Strategy Overview
        21.3.13. GEA Group AG
            21.3.13.1. Overview
            21.3.13.2. Product Portfolio
            21.3.13.3. Profitability by Market Segments (Product Type, Refrigerant Type/Application/Region)
            21.3.13.4. Sales Footprint
            21.3.13.5. Strategy Overview
        21.3.14. Johnson Controls- Hitachi
            21.3.14.1. Overview
            21.3.14.2. Product Portfolio
            21.3.14.3. Profitability by Market Segments (Product Type, Refrigerant Type/Application/Region)
            21.3.14.4. Sales Footprint
            21.3.14.5. Strategy Overview
        21.3.15. BITZER SE
            21.3.15.1. Overview
            21.3.15.2. Product Portfolio
            21.3.15.3. Profitability by Market Segments (Product Type, Refrigerant Type/Application/Region)
            21.3.15.4. Sales Footprint
            21.3.15.5. Strategy Overview
        21.3.16. Carrier Corporation
            21.3.16.1. Overview
            21.3.16.2. Product Portfolio
            21.3.16.3. Profitability by Market Segments (Product Type, Refrigerant Type/Application/Region)
            21.3.16.4. Sales Footprint
            21.3.16.5. Strategy Overview
        21.3.17. Fusheng Co.,
            21.3.17.1. Overview
            21.3.17.2. Product Portfolio
            21.3.17.3. Profitability by Market Segments (Product Type, Refrigerant Type/Application/Region)
            21.3.17.4. Sales Footprint
            21.3.17.5. Strategy Overview
        21.3.18. Officine Mario Dorin S.p.A.
            21.3.18.1. Overview
            21.3.18.2. Product Portfolio
            21.3.18.3. Profitability by Market Segments (Product Type, Refrigerant Type/Application/Region)
            21.3.18.4. Sales Footprint
            21.3.18.5. Strategy Overview
        21.3.19. MAYEKAWA MFG. CO., LTD.
            21.3.19.1. Overview
            21.3.19.2. Product Portfolio
            21.3.19.3. Profitability by Market Segments (Product Type, Refrigerant Type/Application/Region)
            21.3.19.4. Sales Footprint
            21.3.19.5. Strategy Overview
22. Assumptions and Acronyms Used
23. Research Methodology
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