Dublin, Nov. 16, 2023 (GLOBE NEWSWIRE) -- The "Scroll Compressors Market - Forecasts from 2023 to 2028" report has been added to ResearchAndMarkets.com's offering.
The scroll compressor market is expected to grow at a CAGR of 10.35% during the forecast period
The need for compressors has quickly increased because of the automotive and commercial air conditioning industry's rapid growth. However, the complexity of design and high operating cost is expected to act as a market challenge for the scroll compressor market growth.
Market Drivers:
Rapid growth in the HVAC industry
Scroll compressors are essential components of heat pump systems, which are used for both cooling and heating. Commercial construction increased in 2022 in both developed as well as emerging economies as business sectors are actively investing in establishing new offices and facilities to attract target and potential customers. This leads to a rising need for energy-efficient HVAC systems in commercial and industrial establishments which is expected to pave the way for the market expansion of scroll compressors.
Increasing demand for cooling solutions in data centers
To keep servers and other equipment running at peak efficiency, data centers need reliable and effective cooling. Precision cooling solutions for data centers frequently employ scroll compressors to provide consistent temperature control and maximize energy effectiveness. Further, companies such as NTT announced major changes for Indian data centers by deploying Liquid Immersion Cooling and Direct Contact Liquid Cooling technologies in one of its global data centers for the first time in January 2023. The increasing demand for colocation services is further driving the adoption of liquid cooling systems. Hence, the scroll compressors market size will grow steadily.
Market Restraints:
Specialized design
Compared to other compressor types, such as reciprocating compressors, scroll compressors might be more expensive. The scrolls' increased price is a result of their precise production and specialized design. Consequently, scroll compressors can be more difficult to service or repair than other types of compressors in the case of a failure or breakdown. The scrolls' delicate design and precise tolerances may necessitate the use of specialized equipment and knowledge for maintenance and repair work.
Constrained capacity range
Scroll compressors work well in situations when the cooling or heating demands are moderate to low and are less appropriate for systems with high-capacity requirements or for large-scale industrial applications.
Operating factors
Further, the scroll compressor's performance may be impacted by factors like extreme pressure differences or high ambient temperatures. Additional precautions may be required to avert compressor overheating in hot climates or applications with significant heat loads.
However, by considering these factors in proper system design, upkeep, and operation, possible problems can be reduced, and optimum performance can be ensured.
Automotive is expected to show significant growth
Scroll compressors are used more frequently in vehicle air conditioning systems. In comparison to other compressor types, they offer effective cooling while using less power, which can help increase a vehicle's fuel efficiency. Hence, with the increasing production of vehicles, the demand for automotive air conditioning systems will increase, propelling the scroll compressors market growth.
Further, scroll compressors are used in medical devices such as MRI machines, lab freezers, and cryogenic applications. To maintain the steady temperature settings necessary for medical procedures and the preservation of delicate materials, they offer dependable and precise cooling.
Perspectives on the strategies by the industry leaders
As more industry regulatory deadlines continue to push new product advancements, Emerson revealed it has installed 200 million Copeland compressors globally in June 2022. As the Copeland brand's 100th-anniversary celebration draws to a close, sources at Emerson claim the business will keep its emphasis on thorough product testing and in-depth research. To support manufacturers' needs to modify their systems to satisfy efficiency and refrigerant regulations, the business continues to offer dependable, high-efficiency, and lower-GWP refrigerant solutions.
Report Segmentation:
BY TYPE
- Single-Stage Compressor
- Two-Stage Compressor
- Variable Capacity Compressor
BY MATERIAL
- Stainless Steel
- Aluminum
BY END-USER
- Automotive
- Food & Beverage
- Medical & Pharmaceutical
COMPANY PROFILES
- Atlas Copco
- Copeland LP (Emerson Electric Co)
- Ingersoll Rand
- Samsung
- LG Electronics
- Alup Kompressoren
- Air Squared, Inc
- Danfoss
- Panasonic Industry
- InvoTech Scroll Technologies Co., Ltd
For more information about this report visit https://www.researchandmarkets.com/r/42tjq9
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