Global Hermetic Compressors Market Growing due to rise in industrialization and urbanization across the globe along with growing demand for air conditioning and refrigeration appliances among end-user across the globe
A hermetic compressor, also known as a sealed compressor, is one in which the engine and compressor are both contained within a single exterior steel shell. With a motor inside the refrigeration circuit, the motor and compressor are directly connected on the same shaft. As a result, the necessity for a shaft seal and the associated issue of refrigerant leakage were removed.
Hermetic compressors are frequently utilised in air conditioning and refrigeration systems. An all-around welded steel casing that houses the motor and compressor is connected by a shared shaft. Thus, hermetic compressors are portable and small. Compressors that are hermetically sealed are distinct from conventional compressors. A hermetic compressor's main performance advantage is that it is practically leak-proof. Compressors that are hermetically sealed use less energy, are quieter, and require less maintenance. Hermetically sealed compressors are very simple to install. Electrical connections as well as suction and discharge connections are accessible from the outside.
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The worldwide demand for Hermetic Compressors market was estimated at around USD 11 billion in 2021, and by the end of 2031, existing and expected developments would hit valuations of around USD 30 billion. The industry players and analysts predict the global Hermetic Compressors market growth of around 4% in terms of CAGR. During the upcoming years, increasing applications of hermetic compressor in air conditioning, heat pumps, and refrigeration is projected to raise demand for the Hermetic Compressors market during the forecast period. However, high price of Hermetic Compressors and prevalence of large number of substitutes for Hermetic Compressors are some of the challenges presented to Hermetic Compressors market development and growth.
Some of the leading and top Hermetic Compressors companies in the global Hermetic Compressors market include Arcelik, Chunlan, Cubigel, Embraco, Emerson, GMCC & WELLING, Godrej, Hitachi, Huayi Compressor Co., Ltd., Hubei Donper Electromechanical Group Co., Kulthorn, LG Electronics Inc., Ningbo Anuodan Machinery Co., Ltd., Panasonic, Qianjiang, Samsung, Secop GmbH, Siberia, Sikelan, Taizhou Meilile Refrigeration Equipment Co., Ltd., TECUMSEH, Walton Group, and Zanussi among others. The leading five players such as Danfoss, LG Electronics Inc., Godrej, Hitachi, and Panasonic hold around 20% market share of the global Hermetic Compressors market.
On the basis of Speed Type, the worldwide Hermetic Compressors market can be segmented into Inverter and Fixed Speed with the 'fixed speed' category having the leading market share of about 40 percent. In terms of cooling capacity, global hermetic compressors market can be segmented into Less than 100 W, 100-150 W, 150-240 W and 240-400 W. Based on COP, the market can be bifurcated into Less than 1, 1 to 1.4, 4 to 1.6, and 1.6 to 2. In terms of applications, global Hermetic Compressors market can be segmented into domestic and Commercial. In terms of geography, Asia Pacific region held the leading market share of around 35% among other regions such as North America, Europe, Latin America, and Middle East & Africa in the global Hermetic Compressors market.
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