NEW YORK — The global refrigerant compressor market is expected to reach $21.8 billion by 2026, according to a new study by Reports and Data. Rising demand for air conditioning and refrigerators in developing countries is a significant factor in stimulating market demand. There has been a significant rise in the air conditioning in the developing economies, which in turn would lead to high demand for refrigerant compressors.
Companies in the market are making considerable investments in R&D to manufacture high-efficiency compressors that make use of variable speed technology. Research and development is also being done to manufacture compressors that produce low noise during operation.