Hermetic Reciprocating Refrigerator Compressor Market Size

Hermetic Reciprocating Refrigerator Compressor Market Size

Hermetic Reciprocating Refrigerator Compressor Market Size valued at USD 11.3 billion in 2020 and is expected to grow at a CAGR of over 5.9% from 2021 to 2030. Rising applications of hermetic compressors in cold chain logistics are one of the major drivers of the market. Rapid urbanization, changing lifestyles, and consumer demand for frozen & chilled products have grown, resulting in an increasing demand for commercial refrigeration, in turn, propelling the market growth.

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Furthermore, the growing number of hypermarkets and supermarkets requiring HVAC systems to control temperatures is likely to boost the adoption of these compressors. The rapidly growing demand for the food & beverage industry in Asia Pacific and North America is also predicted to spur the market expansion during the forecast period.

The rising use of compressors in milk tanks is also projected to accelerate the acceptance of hermetic reciprocating compressors. Today, milk tanks of up to 1,000 gallons use a single compressor, typically a hermetic reciprocating compressor with scroll compressors, owing to its efficiency, starting simplicity, and liquid handling (due to tank washings), which are becoming essential.

The growing population in various economies including China, India, and the U.S. is likely to stimulate the overall foodservice sector. The foodservice industry is one of the major consumers of refrigerated warehouses. The foodservice refrigeration is equipped with reciprocating hermetic compressors that work on refrigerants. The increasing demand for frozen food and packaged food has influenced the usage of huge cold storage and refrigerated warehouses, thereby fueling the market progression.