Commercial RAC PD Compressor Market to Collect ~US$ 4.5 Bn in 2019 | FMI Report
Posted by ankush Nikam on February 24th, 2020
A new market research report by Future Market Insights on the commercial RAC PD compressor market includes the global industry analysis 2014–2018 and opportunity assessment 2019–2029. The report investigates the commercial RAC PD compressor market and provides key insights over the forecast period of 2019-2029. A rise in food & beverage production, coupled with the growth of cold chain capacities to ensure efficient storage of food, is anticipated to support the demand for commercial RAC PD compressor, worldwide, over the forecast period.
The global commercial RAC PD compressor market is estimated to reach ~US$ 4.5 Bn in 2019, and increasing at a CAGR of ~4% over the forecast period of 2019-2029. This growth is majorly driven by the replacement of old commercial RAC PD compressor and innovation in compressor technology.
As several government policies continue to support the production and usage of environment-friendly refrigerants, commercial RAC PD compressor manufacturers are leveraging energy technologies to offer cost-efficient products with lower carbon footprint, reports the FMI study.
East Asia Commercial RAC PD Compressor Market Attractiveness Rising
Regions such as East Asia, North America and South Asia, are projected to capture substantial market shares in terms of value. However, the East Asia commercial RAC PD compressor market is estimated to project lucrative growth during the forecast period of 2019-2029. This growth is driven by the rapid increase in cold storage food trucks in countries such as China, South Korea, and Japan.
Moreover, significant change in living standards and improving macro-economic scenario have led to a substantial surge in the number of organized retail stores, worldwide. The prompt growth of the organized retail sector considered by the rise in number of hypermarkets, supermarkets etc., is anticipated to drive the growth of the overall food chain, that in turn, is expected to boost the sales of commercial RAC PD compressor for refrigerated display cases and other refrigeration equipment. The commercial RAC PD compressor market is likely to grow at a significant rate during the forecast period, supported by the increase in number of retail stores across the globe.
Supermarkets and Convenience Stores to Remain Key End Use Sectors of Commercial RAC PD Compressor
The global market of commercial RAC PD compressor has been segmented on the basis of different types of Commercial RAC PD Compressor, their multiple applications, and regions such as Latin America, North America, Europe, East Asia, South Asia, Oceania and MEA.
By refrigeration, the commercial RAC PD compressor market has been categorized into R134A, R290, R410A, R744, R404A, R407C, and others. Among these, the R410A segment is expected to grow at a high pace, owing to its various advantages such as stretched cooling capacity, better efficiency, and size reduction of the compressor
By product type, the commercial RAC PD compressor market is segmented into reciprocating and scroll compressor. The reciprocating compressor accounts for nearly 64% value wise share, on account of its wide application in various commercial refrigeration equipment in the global commercial RAC PD compressor market.
Commercial RAC PD Compressor Market: Vendor Insights
The report highlights some of the prominent market players, who have established themselves as leaders in the global Commercial RAC PD Compressor market such as are The Danfoss Group, Huayi Compressor Co., Ltd, Midea Group, Emerson Electric Co., Nidec Corporation, Mitsubishi Electric Corporation, Panasonic Corporation, United Technologies, Corporation, GEA Group AG, MAYEKAWA MFG. CO., LTD.
The global Commercial RAC PD Compressor market is significantly consolidated with some players holding prominent shares of the market. Tier-1 manufacturers’ account for ~15%-20% of the global market with revenue from the Commercial RAC PD Compressor market of ~US$ 800Mn. Tier-1 manufacturers includes are The Danfoss Group, Huayi Compressor Company Ltd. and United Technologies Corporation.
Press Release Source: https://www.globenewswire.com/news-release/2019/09/12/1914681/0/en/Commercial-RAC-PD-Compressor-Market-is-expected-to-grow-at-a-CAGR-of-4-during-the-forecast-period-of-2019-to-2029-Future-Market-Insights.html
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