The global Refrigerant compressors market steadily rising demand for advanced cold storage facilities has positively influenced. World over, there is a growing emphasis on building resilient cold chains to better store, maintain, and transport items that require special handling. Moreover, as consumers are more inclined towards procuring ready-to-eat food items, the demand for efficient refrigerant compressors is on a rise. Several medical facilities also require advanced refrigerant compressors to facilitate storage of critical vaccines and medicines.
Further, owing to concerns around safety and environmental impact, manufacturers are gradually shifting towards natural refrigerators, creating new business opportunities in the refrigerator compressors market. In the coming years, these developments are poised to positively influence strategic ventures, innovation, product differentiation, and the competitive landscape of the global refrigerant compressors market.
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High Consumption of Processed Food Items to Soar Demand for Refrigerant Compressors
Over the past decade, the demand for processed, frozen, and ready-to-consume food items has recorded a phenomenal increase. Consumers across the world are preferring quick-to-prepare food products due to busier lifestyles. The shift towards processed food items has created a considerable demand for advanced and energy-efficient cold storage systems. Refrigerant compressors are vital in the transportation, storage, and maintenance of food items in the entire cold chain. As a result, the food and beverages segment has emerged as a key demand pool in the global refrigerant compressors market. Moreover, on the consumer end, the call for highly convenient services and products is expected to exponentially increase the demand for ready-to-eat food items, further accelerating the refrigerant compressors market towards sound expansion.
Demand for CO2 Refrigerant Compressors to Rise Amid Growing Environmental Concerns
The hazardous impact of chlorofluorocarbons (CFC) on the ozone layer is widely known. This has propelled manufacturers in the refrigerant compressors market to switch to natural refrigerants such as CO2, water, hydrocarbons, and ammonia. Among these, the adoption of CO2 as a substitute for CFCs is predicted to gain traction over the foreseeable future. Using CO2 offers several benefits such as low dynamic viscosity and kinetic viscosity, higher thermal conductivity, small volume and pressure ratio, high heat capacity and safety, less surface tension, and large per unit volume refrigerating capacity. Consequently, owing to their superior performance and eco-friendlier characteristics, key players in the refrigerant compressors market are expected to increase the adoption of CO2 refrigerant compressors.
Asia Pacific to Lead as Promising Regional Player
Asia Pacific is poised to emerge as a highly promising region for the growth of the refrigerant compressors market. In this region, emerging as well as leading economies such as China and India are set to significantly contribute towards the expansion of its refrigerant compressors market. The main growth drivers across APAC include flourishing end-use industries, rising demand for cold storage facilities, air conditioners, and biomedical refrigerators, robust pursuit of decarbonization efforts, and competitive pricing. The cumulative force of these factors is projected to open fresh revenue streams and business opportunities in the refrigerant compressors market of the Asia Pacific.
Some of the key market players in the global refrigerant compressors market include Embraco, Bitzer, Emerson Electric, GMCC Company, Daikin Industries Ltd., Danfoss, and Dorin S.p.A among others.
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