The global hermetic reciprocating refrigerator compressor market is growing at a considerable CAGR of 5.5% during the forecast period. The major factor that is augmenting the growth of the global hermetic reciprocating refrigerator compressor is increasing applications related to hermetic compressors in cold chain logistics. Moreover, lifestyle changes and the growing demand of consumers for products that are frozen & chilled are also estimated to be the other important factors that are contributing significantly towards the growth of the market. However, high-cost involvement is major factors constraints that are hindering the growth of the global hermetic reciprocating refrigerator compressor market across the globe. 

However, technology advancement by manufacturers is one of the key factors that are creating opportunities for the market. New product launches in the market are likely to drive the growth of the global hermetic reciprocating refrigerator compressor market. For instance, in March 2021, Emerson Electric Co., had set forth the introduction of its Copeland variable-speed reciprocating hermetic compressors which are regarded for applications associated with commercial refrigeration. These new models are mainly made in order to save energy along with providing performance improvements in a variety of demanding commercial refrigeration applications. Additionally, Copeland variable speed reciprocating hermetic compressors are offered in ranges /8 to 7/8 horsepower consisting an attribute of a brushless permanent magnet motor, versus a standard induction motor along with smart controller integrated present in it.

Impact of COVID-19 on the Global Hermetic Reciprocating Refrigerator Compressor Market

The global hermetic reciprocating refrigerator compressor market is hardly hit by the COVID-19 pandemic since December 2019. The COVID-19 pandemic in the major economies had disrupted manufacturing and transportation activities. Moreover, the production paused due to the COVID-19 pandemic in China which is one of the largest providers of input materials to another region for making finished goods had also impacted the market growth. Some of the companies had also been affected due to lockdown restrictions. However, the company had taken all the necessary steps for the purpose of reducing the adverse impact of this COVID-19 pandemic.

Segmental Outlook 

The market is segmented based on speed type and application. Based on speed type, the market is segmented into variable speed and fixed speed. Further, based on the application segment, the market is divided into domestic and commercial. 

Global Hermetic Reciprocating Refrigerator Compressor Market Share by  Speed Type 2021 (%)

Fixed Speed Expected to Hold Prominent Market Share in the Global Hermetic Reciprocating Refrigerator Compressor Market

Based on the speed type, the fixed speed holds a significant share in the global hermetic reciprocating refrigerator compressor market. The demand for fixed speed hermetic reciprocating compressors is increasing owing to their ability to operate in a broad range of cooling capacities while exhibiting effective ratings for energy efficiency. Additionally, the motor which is present runs constantly at one speed in the fixed-speed compressor due to which it is utilized largely in commercial and household refrigerators.

Regional Outlooks

The global hermetic reciprocating refrigerator compressor market is analyzed based on the geographical regions that are contributing significantly towards the growth of the market. Based on the geography, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America held a considerable share in the global hermetic reciprocating refrigerator compressor market. Some factors that are boosting the market growth in North America are, rapidly increasing demand for the food & beverage industry and leading manufacturers and players present in the region. Moreover, in Europe, the increasing installation of commercial refrigerators and high disposable income is other factors that are promoting the growth of the market. 

Global Hermetic Reciprocating Refrigerator Compressor Market, by Region 2022-2028

Asia-Pacific will have Considerable Growth in the Global Hermetic Reciprocating Refrigerator Compressor Market  

Asia-Pacific region is expected to witness significant growth opportunities for the market. Increasing key market companies expanding their reach along with bringing advancement in technology in emerging economies of the region are likely to drive the growth of the regional market. Further increasing usage for refrigeration appliances in India, China, and South Korea are also some of the factors that are affecting and impacting the growth in this market. 

Market Player Outlook

The prominent players functioning in the global hermetic reciprocating refrigerator compressor market include Embraco LLC, Emerson Electric Co., J & E Hall, Secop Group Holding GmbH, and Tecumseh Products Company LLC among others. These key manufacturers are adopting various strategies such as new product launches and approvals, mergers and acquisitions, partnerships, and collaborations, and many others to thrive in a competitive environment. For instance, in October 2020, Tecumseh Products Company LLC which is regarded as one of the innovators of commercial refrigeration technologies had introduced its Series AL compressor platform with high efficiency optimized for R-290 refrigerants. Additionally, the company is also expanding its different platforms with new models that are specifically optimized for A2L refrigerants.

In November 2020, one of the global providers related to refrigeration technology for the entire domestic along with commercial cold chain named Embraco LLC had introduced its NEX which is regarded as the new robust compressors platform for commercial applications.

In May 2019, Kulthorn had selected Sealed Unit Parts Co., Inc. (SUPCO), which is one of the global manufacturers and distributors of HVACR and Appliance parts, for the purpose of becoming distributors for Kulthorn refrigeration compressors and condensing units.

The Report Covers

• Market value data analysis of 2021 and forecast to 2028.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global hermetic reciprocating refrigerator compressor market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where in the market.