The air conditioner industry is increasingly focused on developing energy-efficient compressors to reduce energy consumption and emissions. This is leading to a growing demand for compressors with higher energy efficiency ratings, such as scroll compressors. Therefore, many companies are investing in energy-efficient compressors. For instance, in recent years, Hitachi has focused on energy conservation and efficiency. Hitachi's oil-free scroll compressors, which create oil-free compressed air, minimize power usage. In addition, the new Hitachi screw compressor series includes an "air use point pressure prediction control" function that saves energy by lowering waste pressure. This control technology is standard in the Hitachi oil-flooded rotary screw compressor series models ranging from 22 to 100 kW, as well as the Hitachi oil-free rotary screw compressor series models ranging from 15 to 120 kW. Moreover, the increased demand for energy-efficient and dependable compressed air systems, as well as rising investment in infrastructure and manufacturing in the region, drives the growth of the North America industrial air compressor parts market.
An air conditioning compressor helps to pump refrigerant through the air conditioning system. It's a crucial part of an air conditioning system as it enables heat pumps to work. The compressor works in the inside part of the condenser unit, and it is accountable for compressing refrigerant vapor. Air conditioning compressors consist of several important parts, including crankshaft, cylinder, motor, refrigerant pipe, rolling piston, and stator. The North America air conditioning compressor part market has been experiencing steady growth, driven by increasing demand for air conditioning systems worldwide. Factors such as rising temperatures, urbanization, and a growing middle class contribute to the market expansion. Additionally, advancements in technology and a focus on energy-efficient solutions are influencing the demand for newer compressor components. The market is expected to continue growing as the air conditioner industry evolves to meet environmental standards and consumer preferences.
As global climatic conditions continue to change dramatically, demand for energy-efficient equipment such as air conditioning compressors is expected to climb rapidly in the future. According to a NASA estimate, the global average temperature is anticipated to reach or exceed 1.5 degrees Celsius during the next few decades. This will continue to provide chances for growth for air conditioning compressor manufacturers and, eventually, will lead to increasing demand for air conditioning compressor parts in North America.
The North America air conditioning compressor parts market is segmented on the basis of compressor parts, AC system size, application, and geography. By compressor part, the market is divided into the crankshaft, cylinder, motor, refrigerant pipe, rolling piston, stator, and others. Based on AC system size, the North America air conditioning compressor parts market is segmented into Up To 2 Tons, Above 2 Tons–Up To 4 Tons, and Above 4 Tons–Up To 6 Tons. Based on application, the North America air conditioning compressor parts market is segmented into Aftermarket and OEM.
Carrier AG, Copeland LP, Elektromaschinen und Antriebe AG, Honeywell International, Huayi Group, Mayekawa Mfg Co Ltd, Mitsubishi Electric Corporation, Mueller Streamline Co, Parker Hannifin Corp, and Quality Coils Inc are among the key North America air conditioning compressor parts market players profiled in this market study. Several other important players were also analyzed during this market research to get a holistic view of the global market and its ecosystem.
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North America Air Conditioning Compressor Parts Market: Strategic Insights
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 2.45 Billion |
| Market Size by 2030 | US$ 3.61 Billion |
| Global CAGR (2022 - 2030) | 4.9% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2030 |
| Segments Covered |
By Compressor Parts
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The List of Companies - North America Air Conditioning Compressor Parts Market
The North America air conditioning compressor parts market is expected to reach US$ 3.61 billion by 2030.
The key players holding majority shares in the North America air conditioning compressor parts market are Carrier AG, Honeywell International, Mitsubishi Electric Corporation, Parker Hannifin Corp, Copeland LP.
The increasing adoption of smart compressors can be one of the future trends of the North America air conditioning compressor parts market.
Rising application of air conditioning compressors in various industries can be one of the key drivers of the North America air conditioning compressor parts market.
The North America air conditioning compressor parts market was estimated to be US$ 2.45 billion in 2022 and is expected to grow at a CAGR of 4.9% during the forecast period 2023 - 2030.