HVAC Centrifugal Compressors Market

Report Overview

The HVAC Centrifugal Compressors Market size is expected to be worth around USD 1390.52 million by 2032 from USD 1065.3 million in 2022, growing at a CAGR of 2.7 during the forecast period 2023 to 2032.

Centrifugal compressors are one of the most common types of compressors used in HVAC systems. They are often used in larger systems because they can handle more volume than other compressor types. Centrifugal compressors work by using a rotating impeller to draw in air and then spin it at high speed. This causes the air to be forced out through a small opening, which increases the pressure.

HVAC centrifugal compressors are known for their high efficiency and reliability and are used in various applications, including air conditioning, emission refrigeration systems, and ventilation systems. HVAC systems are responsible for circulating refrigerant through the system and are designed to withstand the high pressures and temperatures that are present in the system. HVAC centrifugal compressors are typically made of cast iron or steel and can be either air-cooled or water-cooled. HVAC centrifugal compressors are very complex and require great care and maintenance.

Global HVAC Centrifugal Compressors Market Scope:

Application by End-Use Analysis

Based on the application, the market is segmented into chillers and heat pumps and their end-use into industrial and commercial. In 2022, the market share of the chillers segment is 59.5%. HVAC installations are projected to increase due to commercial buildings’ global expansion, including corporate headquarters and organized retail locations. Manufacturers will have a promising future because of the rising demand for contemporary heating, ventilation, and air conditioning systems that offer more comfort, dependability, and cost-effective solutions. It is projected that regular energy audits conducted in the commercial and industrial sectors to control electricity consumption and investments will lead to replacement demand.

The HVAC Centrifugal Compressors Market forecast with CAGR for heat pumps is anticipated to be around 3.6% through 2032. The expansion of this HVAC centrifugal compressors market size with the segment is being supported by increased demand for industrial and commercial applications that reduce greenhouse gases. Key characteristics, including precise pressure control, pressure ratio, and improved reliability, fuel the application of centrifugal heat pump systems. Over the anticipated period, these factors are anticipated to increase the market size for HVAC centrifugal compressors market trends.

Key Market Segments:

By Type

• Industrial
• Commercial

By Basis of Application by End-Use

• Chillers
• Heat Pumps

Market Dynamics:

The current HVAC centrifugal compressors market trends and growing demand for refrigeration cycles and air conditioning also increasing worries about energy security are propelling the market for HVAC centrifugal compressors. It is anticipated that factors such as changing consumer preferences for highly effective energy-efficient solutions, the affordability of services, and low operating costs will affect product demand. The demand for heating and cooling systems with low carbon emissions is estimated to increase, which will further boost the market for HVAC centrifugal compressors.

Government efforts to eliminate energy waste, produce consumer savings, and advance the clean energy economy will spark demand for refrigerators replacements. For instance, the European Union wants to achieve energy savings of 21% or more by cutting greenhouse gas emissions by at least 21.2%. HVAC Centrifugal Compressors Market trends expansion will be aided by financial assistance in the form of subsidies for purchasing heat pumps, which will promote renewable energy for cooling and heating purposes.

The increased commercialization of healthcare, education, airports, and retail facilities will further support the need for the product. The detailed analysis of the HVAC Centrifugal Compressors Market forecast predicts that by 2040, the world will have invested more than 90 trillion dollars in infrastructure, with Asia Pacific expected to account for most of this economic growth. Due to extensive infrastructure development and growing populations, rising markets like Brazil, China, India, and the Middle Eastern countries will see an increase in demand for air conditioning, creating profitable commercial opportunities for industry growth in the HVAC centrifugal compressors market size.

Ongoing technology advancements will positively impact the overall industry trend. As the old unit undergoes retrofits, part replacements, overhauls, or total substitution with improved technology, the replacement market is anticipated to be a significant key driver. Improvements in R&D for product development have been made in response to rising energy-efficiency standards.

For new entrants, problems such as patent accumulation and high commissioning costs may exist. Fluctuations in the price of raw materials like aluminum, steel, and titanium brought on by changes in supply and demand may raise the overall cost of producing HVAC centrifugal systems, which will have an impact on the manufacturer’s profits and cash flow.

Advantages of Centrifugal Compressor:

• Low weight, straightforward to produce.
• They are naturally free of oil.
• Suitable for a cooling unit’s constant compressed air supply.
• Fewer rubbing parts are present.
• Superior to the positive displacement compressor in terms of flow rate.
• Efficient in terms of energy.
• The broad spectrum of rotational speeds.
• Centrifugal compressors are dependable and require little upkeep.
• Superior as compared to the axial compressor in terms of pressure ratio per stage.
• No particular foundation is needed.

Disadvantages of Centrifugal Compressor:

• Compared to an axial flow compressor, a large frontal area for a given airflow rate.
• Limited pressure, unsuitable for very strong compression.
• They respond well to modifications in gas composition.
• They operate at a rapid rate of speed, requiring specialized vibration mounting.
• Surge, stall, and choking issues.

Applications of Centrifugal Compressor:

• Centrifugal compressors are used in the food and beverage industry to supply compressed air that is free of oil for some delicate applications, such as food preparation.
• Centrifugal compressors meet the enormous demand for compressed air.
• Turbochargers and superchargers in automobiles powered by gas turbines.
• Processing of natural gas and oil refineries.
• HVAC, air conditioning, and refrigeration compressor unit.
• Compressed air production for pneumatic tools.

Regional Analysis:

In 2022, North America accounted for the largest market share for HVAC centrifugal compressors market trends, over 33.8%. Construction spending is anticipated to be stimulated by a growing industrial sector, which will increase the need for energy in the region. Energy-efficient systems are being adopted due to an increasing need to reduce energy waste and CO2 emissions. The industry’s expansion will also be aided by increased demand for centralized cooling systems for commercial areas such as the pharmaceutical industry, etc.

Around the HVAC Centrifugal Compressors Market forecast period, MEA is anticipated to experience over 4.5% market growth in the market for HVAC centrifugal compressors market size. Saudi Arabia, Qatar, and Kuwait are among the emerging economies expected to have industrial development. Favorable socioeconomic circumstances and government support will influence the overall market size to increase regional competitiveness.

Key Regions and Countries Report Coverage:

• North America
  • The US
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • The UK
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • India
  • Japan
  • Korea
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • Israel
  • South Africa
  • Rest of MEA

Market Share & Key Players Analysis:

Some market participants for HVAC centrifugal compressors market trends include SKF, Danfoss, Hitachi, Mitsubishi Heavy Industries, Atlas Copco, etc. Modern technology will spread owing to rising electricity usage and demand for eco-friendly processes. Pressure to achieve higher productivity and industry standards comes from fierce competition, rising demand for energy costs, and vital government sustainability goals. Major market players with manufacturing organizations are expected to enhance their R&D efforts and invest in technological advancements to achieve a competitive landscape advantage over the anticipated period.

Market Key Players:

• Atlas Copco
• Anest Iwata Corporation
• Hitachi
• Danfoss
• Mitsubishi Electric Corporation
• SKF
• Celeroton
• Howden Group
• Ingersoll Rand
• GFA Compressors
• GMCC Company
• Elliott Group
• Panasonic Corporation
• Other Key Players

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For the HVAC Centrifugal Compressors Market research study, the following years have been considered to estimate the market size: