Global Refrigerator Compressor Market Size Reached $11.90 Billion in 2023

The refrigerator compressor is the core component of the refrigerator and can be hailed as the "heart" of the refrigeration system. Its main task is to increase pressure and convert low-pressure gas into high-pressure gas. Specifically, the refrigerator compressor sucks in low-temperature and low-pressure refrigerant gas from the suction pipe then drives the piston to compress it through the operation of the motor, and finally discharges the high-temperature and high-pressure refrigerant liquid into the exhaust pipe. This process provides power for the refrigeration cycle, thereby achieving a refrigeration cycle of compression, condensation, expansion, and evaporation.

Product Classification Introduction

Piston compressor

Its working principle is achieved by continuously changing the working volume composed of a cylinder, an air valve, and a piston that moves back and forth in the cylinder.

Screw compressor

A volumetric gas compression machine with a working volume that performs rotary motion.

Centrifugal compressor

Also known as a "vortex compressor", it is a multi-stage compressor that can achieve high gas pressure, large processing capacity, and high efficiency.

Linear compressor

A compressor that uses a rotating electric motor to bring energy.


Overview of Market Development and Analysis of Competitive Landscape
In recent years, the global refrigerator compressor market has steadily grown. This growth is mainly driven by the rapid economic development of emerging markets, mainly in the Asia Pacific and Middle East regions. The growth of population and the improvement of consumption capacity in these regions have further promoted the development of the refrigerator market, thereby driving the growth of the refrigerator compressor market. According to our research data, the global refrigerator compressor market size reached $11.90 billion in 2023.
In the future, the global refrigerator compressor market is expected to continue to expand. On the one hand, at the technical level, the new generation of refrigerator compressors adopts advanced energy-saving technology, which improves energy efficiency, reduces energy consumption, and reduces carbon dioxide emissions, meeting environmental and energy policy requirements. Among them, the application of variable frequency compressor technology is also constantly improving, which is expected to further promote the efficient and energy-saving development of the refrigerator compressor market. On the other hand, with the development of the Internet of Things and artificial intelligence technology, smart homes have become one of the development trends in the refrigerator market, bringing new development opportunities to the refrigerator compressor market. It is expected that by 2026, the global market size of refrigerator compressors will increase to $14.03 billion.
From the perspective of market competition, the concentration of the global refrigerator compressor market is relatively low. Data shows that in 2023, the total output value of refrigerator compressors among the top 3 enterprises was $3511 million, with a total share of 29.50%. The top 3 companies were Embraco, Huayi Compressor, and Panasonic. In 2023, these three companies accounted for 11.78%, 9.55%, and 8.17% of the global market output value of refrigerator compressors, respectively.
Global Refrigerator Compressor Market Size Forecast and Competitive Landscape Analysis 



Source: www.globalmarketmonitor.com


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