Refrigeration Compressors Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type, By End User, By Region & Competition, 2020-2030F
The global refrigeration compressors market was valued at USD 21.8 billion in 2024 and is projected to reach USD 29.7 billion by 2030, registering a compound annual growth rate (CAGR) of 5.1% over the forecast period.
Market Overview
Forecast Period
2026-2030
Market Size 2024
USD 21.8 Billion
Market Size 2030
USD 29.7 Billion
CAGR 2025-2030
5.1%
Fastest Growing Segment
Centrifugal
Largest Market
North America
This growth is primarily driven by increasing urbanization and a rising global population, which are fueling the demand for fresh and frozen food products. Reliable refrigeration systems are essential for preserving quality and extending shelf life. Additionally, the expanding food and beverage industry, alongside rising disposable incomes and evolving consumer lifestyles, is contributing significantly to the demand for efficient refrigeration solutions.
Industrialization across emerging economies is also accelerating market growth, with refrigeration compressors playing a critical role in a range of industrial applications. Meanwhile, advancements in compressor technologies-such as energy-efficient and variable speed models-are gaining momentum in response to escalating energy costs and growing environmental awareness. Moreover, regulatory mandates promoting the adoption of low-global warming potential (GWP) refrigerants are encouraging manufacturers to develop environmentally compliant and sustainable solutions.
Key Market Drivers
Surging Demand from the Food & Beverage Sector
The food and beverage industry represents one of the most prominent end-use segments for refrigeration compressors. Its continued expansion is a major catalyst for market growth. Shifting consumer preferences toward fresh, frozen, and ready-to-eat foods have significantly increased the need for high-efficiency refrigeration across the value chain-including food processing, cold storage, retail, and residential applications.
Maintaining food safety, quality, and shelf life requires stable and precise temperature control, which can only be achieved with high-performance compressors. Emerging markets such as India, Brazil, and Southeast Asia are experiencing rapid urbanization and rising income levels, which are driving increased consumption of perishable food products. This trend is contributing to the proliferation of supermarkets, hypermarkets, and convenience stores-each of which depends on reliable commercial refrigeration units powered by compressors designed for energy efficiency and operational reliability.
Key Market Challenges
Regulatory Pressure on High-GWP Refrigerants
A key challenge confronting the global refrigeration compressors market is the tightening of environmental regulations targeting refrigerants with high global warming potential (GWP). Many countries are implementing stringent policies aimed at phasing out hydrofluorocarbons (HFCs), traditionally used in refrigeration systems but known to have significant environmental impact.
International agreements such as the Kigali Amendment to the Montreal Protocol are accelerating this transition. As a result, manufacturers and end users are being compelled to adopt compressors that are compatible with environmentally friendly alternatives, including natural refrigerants like carbon dioxide (CO2), ammonia (NH3), and hydrocarbons such as propane (R290). Complying with these regulations requires substantial investment in research, development, and reengineering of compressor technologies.
Key Market Trends
Transition to Eco-Friendly and Natural Refrigerants
A dominant trend reshaping the refrigeration compressors market is the growing preference for eco-friendly and natural refrigerants. Increasing regulatory scrutiny and environmental concerns are driving the industry away from conventional HFCs toward low-GWP alternatives.
Natural refrigerants such as CO2, ammonia, and hydrocarbons (e.g., R290 and R600a) are gaining widespread adoption due to their minimal environmental impact and regulatory compliance. According to the International Institute of Refrigeration (IIR), the global use of natural refrigerants is expected to grow at a CAGR exceeding 10% between 2023 and 2030. CO2-based systems, in particular, are poised to capture a significant share of the commercial refrigeration segment, favored for their performance, safety, and sustainability.
Key Market Players
Panasonic Corporation
The BITZER Group
Huayi Compressor Barcelona
Copeland LP
Johnson Controls
HITACHI AIR CONDITIONING COMPANY
Italia Wanbao-ACC S.r.l.
Tecumseh Products Company LLC
Siam Compressor Industry Co., Ltd.
MITSUBISHI ELECTRIC (GUANGZHOU) COMPRESSOR CO.LTD.
Report Scope:
In this report, the Global Refrigeration Compressors Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Refrigeration Compressors Market, By Type:
Centrifugal
Rotary
Reciprocating
Refrigeration Compressors Market, By End User:
Food and Beverage
Chemical and Petrochemical
Pharmaceutical
Domestic
Other
Refrigeration Compressors Market, By Region:
North America
United States
Canada
Mexico
Europe
Germany
France
United Kingdom
Italy
Spain
Asia Pacific
China
India
Japan
South Korea
Australia
South America
Brazil
Colombia
Argentina
Middle East & Africa
Saudi Arabia
UAE
South Africa
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Global Refrigeration Compressors Market.
Available Customizations:
Global Refrigeration Compressors Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
Detailed analysis and profiling of additional market players (up to five).
Table of Contents
1. Product Overview
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.2.3. Key Market Segmentations
2. Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
3. Executive Summary
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, and Trends
4. Voice of Customer
5. Global Refrigeration Compressors Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Type (Centrifugal, Rotary, Reciprocating)
5.2.2. By End User (Food and Beverage, Chemical and Petrochemical, Pharmaceutical, Domestic, Other)
5.2.3. By Region (North America, Europe, South America, Middle East & Africa, Asia Pacific)
5.3. By Company (2024)
5.4. Market Map
6. North America Refrigeration Compressors Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Type
6.2.2. By End User
6.2.3. By Country
6.3. North America: Country Analysis
6.3.1. United States Refrigeration Compressors Market Outlook
6.3.1.1. Market Size & Forecast
6.3.1.1.1. By Value
6.3.1.2. Market Share & Forecast
6.3.1.2.1. By Type
6.3.1.2.2. By End User
6.3.2. Canada Refrigeration Compressors Market Outlook
6.3.2.1. Market Size & Forecast
6.3.2.1.1. By Value
6.3.2.2. Market Share & Forecast
6.3.2.2.1. By Type
6.3.2.2.2. By End User
6.3.3. Mexico Refrigeration Compressors Market Outlook
6.3.3.1. Market Size & Forecast
6.3.3.1.1. By Value
6.3.3.2. Market Share & Forecast
6.3.3.2.1. By Type
6.3.3.2.2. By End User
7. Europe Refrigeration Compressors Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Type
7.2.2. By End User
7.2.3. By Country
7.3. Europe: Country Analysis
7.3.1. Germany Refrigeration Compressors Market Outlook
7.3.1.1. Market Size & Forecast
7.3.1.1.1. By Value
7.3.1.2. Market Share & Forecast
7.3.1.2.1. By Type
7.3.1.2.2. By End User
7.3.2. France Refrigeration Compressors Market Outlook
7.3.2.1. Market Size & Forecast
7.3.2.1.1. By Value
7.3.2.2. Market Share & Forecast
7.3.2.2.1. By Type
7.3.2.2.2. By End User
7.3.3. United Kingdom Refrigeration Compressors Market Outlook
7.3.3.1. Market Size & Forecast
7.3.3.1.1. By Value
7.3.3.2. Market Share & Forecast
7.3.3.2.1. By Type
7.3.3.2.2. By End User
7.3.4. Italy Refrigeration Compressors Market Outlook
7.3.4.1. Market Size & Forecast
7.3.4.1.1. By Value
7.3.4.2. Market Share & Forecast
7.3.4.2.1. By Type
7.3.4.2.2. By End User
7.3.5. Spain Refrigeration Compressors Market Outlook
7.3.5.1. Market Size & Forecast
7.3.5.1.1. By Value
7.3.5.2. Market Share & Forecast
7.3.5.2.1. By Type
7.3.5.2.2. By End User
8. Asia Pacific Refrigeration Compressors Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Type
8.2.2. By End User
8.2.3. By Country
8.3. Asia Pacific: Country Analysis
8.3.1. China Refrigeration Compressors Market Outlook
8.3.1.1. Market Size & Forecast
8.3.1.1.1. By Value
8.3.1.2. Market Share & Forecast
8.3.1.2.1. By Type
8.3.1.2.2. By End User
8.3.2. India Refrigeration Compressors Market Outlook
8.3.2.1. Market Size & Forecast
8.3.2.1.1. By Value
8.3.2.2. Market Share & Forecast
8.3.2.2.1. By Type
8.3.2.2.2. By End User
8.3.3. Japan Refrigeration Compressors Market Outlook
8.3.3.1. Market Size & Forecast
8.3.3.1.1. By Value
8.3.3.2. Market Share & Forecast
8.3.3.2.1. By Type
8.3.3.2.2. By End User
8.3.4. South Korea Refrigeration Compressors Market Outlook
8.3.4.1. Market Size & Forecast
8.3.4.1.1. By Value
8.3.4.2. Market Share & Forecast
8.3.4.2.1. By Type
8.3.4.2.2. By End User
8.3.5. Australia Refrigeration Compressors Market Outlook
8.3.5.1. Market Size & Forecast
8.3.5.1.1. By Value
8.3.5.2. Market Share & Forecast
8.3.5.2.1. By Type
8.3.5.2.2. By End User
9. Middle East & Africa Refrigeration Compressors Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value
9.2. Market Share & Forecast
9.2.1. By Type
9.2.2. By End User
9.2.3. By Country
9.3. Middle East & Africa: Country Analysis
9.3.1. Saudi Arabia Refrigeration Compressors Market Outlook
9.3.1.1. Market Size & Forecast
9.3.1.1.1. By Value
9.3.1.2. Market Share & Forecast
9.3.1.2.1. By Type
9.3.1.2.2. By End User
9.3.2. UAE Refrigeration Compressors Market Outlook
9.3.2.1. Market Size & Forecast
9.3.2.1.1. By Value
9.3.2.2. Market Share & Forecast
9.3.2.2.1. By Type
9.3.2.2.2. By End User
9.3.3. South Africa Refrigeration Compressors Market Outlook
9.3.3.1. Market Size & Forecast
9.3.3.1.1. By Value
9.3.3.2. Market Share & Forecast
9.3.3.2.1. By Type
9.3.3.2.2. By End User
10. South America Refrigeration Compressors Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value
10.2. Market Share & Forecast
10.2.1. By Type
10.2.2. By End User
10.2.3. By Country
10.3. South America: Country Analysis
10.3.1. Brazil Refrigeration Compressors Market Outlook
10.3.1.1. Market Size & Forecast
10.3.1.1.1. By Value
10.3.1.2. Market Share & Forecast
10.3.1.2.1. By Type
10.3.1.2.2. By End User
10.3.2. Colombia Refrigeration Compressors Market Outlook
10.3.2.1. Market Size & Forecast
10.3.2.1.1. By Value
10.3.2.2. Market Share & Forecast
10.3.2.2.1. By Type
10.3.2.2.2. By End User
10.3.3. Argentina Refrigeration Compressors Market Outlook
10.3.3.1. Market Size & Forecast
10.3.3.1.1. By Value
10.3.3.2. Market Share & Forecast
10.3.3.2.1. By Type
10.3.3.2.2. By End User
11. Market Dynamics
11.1. Drivers
11.2. Challenges
12. Market Trends and Developments
12.1. Merger & Acquisition (If Any)
12.2. Product Launches (If Any)
12.3. Recent Developments
13. Company Profiles
13.1. Panasonic Corporation
13.1.1. Business Overview
13.1.2. Key Revenue and Financials
13.1.3. Recent Developments
13.1.4. Key Personnel
13.1.5. Key Product/Services Offered
13.2. The BITZER Group
13.3. Huayi Compressor Barcelona
13.4. Copeland LP
13.5. Johnson Controls
13.6. HITACHI AIR CONDITIONING COMPANY
13.7. Italia Wanbao-ACC S.r.l.
13.8. Tecumseh Products Company LLC
13.9. Siam Compressor Industry Co., Ltd.
13.10. MITSUBISHI ELECTRIC (GUANGZHOU) COMPRESSOR CO.LTD.