As per the market research report titled ‘Hermetic Reciprocating Refrigerator Compressor Market Size, By Speed Type (Inverter, Fixed Speed), By Cooling Capacity (Less than 100 W, 100 - 150 W, 150 - 240 W, 240 - 400 W), By COP (Less Than 1.0, 1.0 - 1.4, 1.4 - 1.6, 1.6 - 2.0), By Application (Domestic, Commercial), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2021 – 2030’, available with MarketStudyReport, hermetic reciprocating refrigerator market is slated to garner strong returns during 2021-2030.

Industry veterans are of the opinion that growing sales of refrigerators across the globe and rapid expansion of food service industry are the factors augmenting hermetic reciprocating refrigerator market development.

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Further, escalating consumer inclination towards efficient and sustainable technologies and rising popularity of low Global Warming Potential (GWP) refrigerators are likely to boost market demand through 2030.

Besides, as the world came to a standstill due to the ongoing Covid-19 pandemic, several restaurants have been coerced to adopt take-away and delivery models. This in turn has encouraged investments in refrigerators to regulate and maintain temperatures during packaging, thereby escalating product demand in the upcoming years.

In contrast, strict regulations with respect to reciprocating compressors may restrict market expansion during the analysis timeframe.

Speaking of speed type, hermetic reciprocating refrigerator industry from the inverter sub-segment is anticipated to register a CAGR of 18.11% during the study period.

Considering cooling capacity, the 150W-240W sub-segment which held a market share 39.85% in 2020 is expected to make sales of USD 94.3 million units by 2030. Meanwhile, the 240W-400W sub-segment is slated to capture a market share of nearly 17%, expanding at a CAGR of 5.6% through the evaluation timeframe.  

In terms of COP, the 1.6-2 sub-segment is expected to capture a revenue share of 17.15% through the analysis period, attributable to mounting demand variable speed compressors which has compelled refrigerator manufacturers to improve energy efficiency.

From the application perspective, the commercial division is expected to achieve a renumeration of USD 4.5 billion by 2030.  

Geographically, Latin America hermetic reciprocating refrigerator compressor market is expected to accumulate a valuation of USD 920.4 million by the end of forecast period while expanding at CAGR of 5.7% throughout. This can be ascribed to rising disposable income and burgeoning government expenditure on household appliances.

Parallelly, scalating demand for household refrigerators in UAE and Saudi Arabia is anticipated to push the market growth in the MEA region at an annual rate of 5. 61% through 2030.

Huayi Compressor Co. Ltd, LG Electronics Inc., Samsung Electronics Co. Ltd, Qianjiang Group, Secop GmbH, Walton Corporation, Embraco, Hitachi, Ltd, Godrej Group, GMCC & Welling Appliance Component (Thailand) Company, Ningbo Anuodan Machinery Co. Ltd, Siberia, Arcelik A.S., and Zanussi are the major players influencing hermetic reciprocating refrigerator compressor industry trends.