Refrigeration and compressor markets in the US and Americas maintain their dynamic despite pandemicJanuary 2021

BSRIA recently published a series of refrigeration and compressor reports providing a detailed quantitative and qualitative assessment of the US market with a five-year forecast by product segment. Detailed reports are available for the US Commercial and Industrial Refrigeration markets, each one providing a detailed analysis of the relevant segment. 

In addition, BSRIA also published a series of regional reports on the Compressor Market for Heating, Air Conditioning and Refrigeration, of which one for the Americas, with focus on sales of compressors for these applications.

The Commercial Refrigeration market in the USA weighs the most in terms of value. It includes compressor racks, followed by evaporators, and remote condensers. Due to the pandemic, the commercial refrigeration market experienced a contraction in 2020, but it is expected gradually to regain strength and return to the previous level and growth rates, as expansion in the refrigeration market is driven by population growth and economic cycle. In addition, increased attention to refrigerants and efficiency, boosted by stricter regulation under the Biden presidency, are expected to inflate market values.

US Commercial refrigeration market overview, value, USD million, 2020

The demand for industrial refrigeration systems in the USA is fuelled by market drivers such as tax cuts, increasing population and increase in industrial construction, particularly in cold storage and warehouse segments. In addition, manufacturers increased their pricing under the Trump administration because of tariffs levied by the US Government on steel and aluminium which affected the cost of components. Moreover, due to stringent regulations against HCFCs and HFC refrigerants, users are retrofitting their old equipment with alternative refrigerants or natural refrigerants such as ammonia or CO2.

Industrial refrigeration market overview, value, USD million, 2020

In terms of sales of compressors in the Americas, refrigeration is the largest segment in the market, with high volumes of hermetic reciprocating compressors for residential applications. Air conditioning is the second largest application, as there is a vast residential and light commercial market. Rotary and especially scroll AC compressors are the largest share of the total. The compressor market has experienced hurdles and economic woes in 2020. The ongoing coronavirus crisis is impacting the region causing drop in sales, but refrigeration will drive growth unabated.

Based on a mixture of primary research through detailed interviews, and use of secondary data, these three reports analyse Commercial and Industrial Refrigeration and Compressor markets in the USA and Americas. The reports inform about market sizes and characteristics by type of product and by application, forecasts, distribution structure and main suppliers. In addition, the main drivers and factors impacting change in the market are scrutinised: macroeconomic background, policy and refrigerants movement. Finally, the study assesses the structure of foreign trade, and applications for refrigeration products.

Compressor market overview, value, USD million, 2020