The global hermetic reciprocating refrigerator compressor market is anticipated to grow at a considerable CAGR of 5.5% during the forecast period (2022-2028). The rising urbanization is one of the prime factors affecting and driving the demand of the hermetic reciprocating refrigerator compressor market. As per the World Bank, around 55% of the population across the globe that stand nearly 4.2 billion inhabitants that live in cities. This trend is anticipated to continue with an increasing rate and by 2050, the urban population will double the current size, which nearly stands for 7 of 10 people in the globe who will live in cities. This, in turn, is boosting the adoption of the refrigerator for getting food to be stored in the right and effective way, along with getting more convenience and comfort that is supporting the growth of the market.
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To gain on the opportunity key players operating in the global hermetic reciprocating refrigerator compressor market had been adopting strategies such as new launches to achieve major market share. For instance, in November 2020, Secop Group Holding GmbH had introduced its new propane (R290) hermetic reciprocating variable-speed compressor which is made for the larger platform. The Secop variable-speed drive compressor motors are electronically controlled along with having the latest technology which makes its capacity automatically to adapt as per the actual requirement. Additionally, the compressor runs at low speed most of the time along with minimizing energy consumption.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
o By Type
o By End-User
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- Embraco LLC, Emerson Electric Co., J & E Hall, Secop Group Holding GmbH, and Tecumseh Products Company LLC
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Hermetic Reciprocating Refrigerator Compressor Market Report Segment
By Speed Type
- Variable Speed
- Fixes Speed
By Application
- Domestic
- Commercial
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Hermetic Reciprocating Refrigerator Compressor Market– Segment by Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
Company Profiles
- BITZER Kühlmaschinenbau GmbH
- Embraco LLC
- Emerson Electric Co.
- Fusheng Co., Ltd.
- Godrej & Boyce Manufacturing Co. Ltd.
- Huayi Compressor Barcelona
- J & E Hall
- Kulthorn
- LG Electronics
- Panasonic Corp.
- Samsung Electronics Co., Ltd.
- Secop Group Holding GmbH
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