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According to Fortune Business Insights, the global commercial refrigeration compressor market shipments accounted to around 161.4 million units annually in 2018 and is projected to reach 221.7 million units by 2026 exhibiting a CAGR of 4.1 per cent during the forecast period.

The report states that with rising frozen and processed food consumption globally, the refrigeration compressor market is anticipated to grow at a fast pace. The global commercial refrigeration compressor market is likely to grow significantly in the upcoming years, owing to growing number of supermarkets and hypermarkets requiring HVAC systems as well as increased adoption of HVAC systems by the pharmaceutical industry for the preservation of medicines and raw materials at freezing temperatures. Growing demand for refrigeration and air conditioning in developing countries is a major reason for the growth of the market. Furthermore, the expansion of automotive HVAC market globally is also expected to contribute to the commercial refrigeration compressor market growth during the forecast period 2019-2026.

Market Drivers
The report highlights that there has been rapid growth in supermarkets and hypermarkets globally due to factors such as growing economies and rising disposable incomes. The supermarkets are also consuming less energy at present as IoT, coolers, freezers, HVAC units, and other equipment are connected to a centralised program helping to manage energy.

For instance, according to the Institute of Grocery Distribution research, the total global supermarket and grocery stores size is expected to increase from USD 6,705 billion in 2018 to around USD 8,550 billion in 2023 having a growth of more than 27 per cent which would boost the refrigeration compressor market growth in the forecast period.

Furthermore, with the growing population, the demand for superstores is also expected to increase. Also, the demand for excellent air quality for the supermarkets and hypermarkets is expected to significantly rise contributing positively to the growth of the commercial refrigeration compressors market. Most of the companies companies are focusing on cost reduction in the manufacturing of commercial refrigeration compressors. A large number of
commercial refrigeration compressor companies are also striving to achieve improved levels of efficiency. They are financing vigorously in their research and development division to develop new technologies in the refrigeration compressor industry. Owing to these factors, commercial refrigeration compressors are expected to experience more demand during the forecast period.

Moreover, the introduction of new technologies in refrigeration systems, including advanced thermal insulation, high-efficiency fan motors, and compressors driving refrigeration equipment energy efficiency as well as sensors, controls, and communication modules assist in providing uninterrupted levels of service to predict problems and perform efficient diagnostics and performance.

By Type Analysis
The commercial refrigeration compressors market has been segmented into reciprocating, screw, rotary, and others. The reciprocating segment held the largest market share in 2018 which is followed by rotary segment owing to its wide commercial as well as domestic applications. However, the rotary compressors are expected to have the highest CAGR during the forecast period as it is also widely used in commercial and residential split systems. The screw compressors are used in large commercial applications and scroll compressors are largely used in commercial heating, ventilation and air conditioning systems. The report informs that the rising demand for air conditioners and refrigeration systems in urban and semi-urban cities for both commercial and domestic usage would boost the market for commercial
refrigeration compressors during the forecast period 2019 – 2026.

By Cooling Capacity Analysis
The specific power consumption (kW) is a valuable indicator of the performance of refrigeration system. The report mentions that by measuring refrigeration duty performed in the kilowatt inputs, kW is used as a reference indicator for energy performance. The 1-15 kW cooling capacity segment is expected to hold the highest market share throughout the forecast period followed by 15-100 kW cooling capacity refrigeration compressors.  This segment is prominent owing to the reciprocating compressors falling under this category which have energy usage of 1.0-1.3 kW.

By Application Analysis
Based on Application, the report says that the market is segmented into refrigerator and freezer, refrigerated display cases, transport refrigeration, beverage coolers and freezers, others (Vending & Ice Machines). The transport refrigeration
compressors are expected to grow at the highest CAGR during the forecast period owing to the increasing demand for frozen food, expansion of the pharmaceutical industry, rising per capita income, and increasing cross-continent and highway networks for quicker road freight transportation. Growth of transport refrigeration also helps in minimising food wastage, so the penetration rate of transport refrigeration in developing countries is very high. The furthermore, the refrigerated display cases, as well as beverage coolers and freezers, are expected to have the fastest growth followed by transport refrigeration system owing to the rapidly expanding number of hypermarkets and supermarkets globally during the forecast period 2019-2026.

Regional Analysis
According to Fortune Business Insights report, North America commercial refrigeration compressor market is expected to witness substantial growth owing to the presence of prominent industries and commercial spaces requiring refrigeration and refrigeration compressors. Furthermore, the need to have a strong presence of the cold chain industry for commercial transport systems with chilling facilities in food and chemical sector will fuel the market. Also, the expanding cold storage warehouses in the region will also contribute to the growth of commercial refrigeration compressors. Furthermore, with the presence of well-established distribution channels of retail companies, several growth opportunities exist in the US retail market for retail providers of all sizes. Additionally, small to medium-sized franchise unit owners, individual or direct sellers, to large store operators are positively influencing the market. The expanding retail sector and increasing demand for frozen food and vegetables are driving the growth of the European commercial refrigeration compressor market.

The report further mentions that Asia Pacific commercial refrigeration compressors market is expected to dominate the market and anticipated to exhibit the highest CAGR during the forecast period owing to rapid industrialisation, emerging economic growth and growing new companies in the region. Expanding economy in India and China leading resulting in expansion of a large number of retail stores and outlets is expected to support the regional industry growth. The increasing sale of packaged food products and preserving canned products will surge refrigeration and compressor demand. Also, the rise in the level of disposable income of the people in this region is projected to play a major role in boosting the demand for commercial refrigeration compressors throughout the forecast period 2019-2026.

Industry Key Players
Most of the key players in the commercial refrigeration compressor are constantly focussing on developing cleaner, greener, and eco-friendly compressors to be used for refrigeration. The global players are persistently focussing on introducing new technologies through heavy investments in R&D as well as involving in mergers and acquisitions.

The new technologies being introduced by the key players such as transformer refrigeration compressor in which common main components and main parts make it possible to switch from one configuration to the other serving as a base for both large size HFCs and CO2 sub-critical compressors.

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