Global Refrigerant Compressors Market Is $ 12120.77 Million In 2019
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Refrigerant Compressors are driven fluid machines enhance a high-pressure gas from low-pressure gas. It is the heart of the refrigeration system. It sucked in from the suction pipe temperature low-pressure refrigerant gas, through motor driven piston compressor to exhaust high temperature and pressure refrigerant gas to provide power for the refrigeration cycle, in order to achieve compression → condensation (exothermic ) → expansion → evaporation (heat absorption) of the refrigeration cycle.
Refrigerant Compressors industry is very fragmented, manufacturers are mostly in the Asia Pacific and Europe. As for the sales market, China output accounted for more than 55.41% of the total output of global Refrigerant Compressors market in 2018. GMCC is the world leading manufacturer in global Refrigerant Compressors market with the market share of 15.66%, in terms of sales revenue, followed by Landa, Highly, Embraco and Panasonic.
Compared to 2017, Refrigerant Compressors market managed to increase the production value by 1.13 percent to 12023.68 million USD worldwide in 2018 from 11888.98 million USD in 2017.
The global Refrigerant Compressors market is expected to reach $ 12434.74 million by 2025 from $ 12120.77 million in 2019, growing at a CAGR of 0.43% from 2019 to 2025. And China market is expected to keep being the biggest market with production market share of 57.79% in 2025.
With the increasing in production capacity, expected that the Refrigerant Compressors raw material price will be stable in the short term. However, the improvement of energy, transportation costs, and labor costs, will play a significant role in promoting the cost of Refrigerant Compressors.
There are companies adding new capacities and aims at the cost and quality leadership which shall improve profitability. As the same time, companies are focusing on technological innovation, equipment upgrades, and process improvements, to reduce costs and improve quality.
The average price of Refrigerant Compressors will fall further. The product average price declined in the past few years due to the technology development, the average price will keep this trend in the few future years due to increasing mature manufacturing technology and cost of raw materials.