Southeast Asia refrigeration compressor market demand continues to grow

In recent years, the demand for refrigeration compressor market in Southeast Asia has shown significant growth. This trend is mainly due to the continuous development of the region's economy, growing population and improving living standards, especially in the context of the rapid increase in demand for refrigeration equipment, refrigeration compressor market ushered in unprecedented development opportunities.

According to the latest research data from QYResearch, the global refrigeration compressor market sales revenue reached $164.8 billion in 2023, and this figure is expected to climb to $209.4 billion in 2030, with a compound annual growth rate (CAGR) of 3.5% in the coming years. Notably, Southeast Asia is a particularly strong performer in this global market. Although the CAGR data for Southeast Asia specifically for the period 2024-2030 is not directly given, it is foreseeable that the growth rate in this region will be higher than the global average, signalling great market potential and development prospects.

In terms of product type, the refrigeration compressor market is dominated by centrifugal compressors, which account for a considerable share of the market, especially globally, where centrifugal compressors hold a market share of approximately 36 per cent. However, in Southeast Asia, the demand for different types of refrigeration compressors is also diversified due to the popularity and replacement of refrigeration equipment such as air conditioners and refrigerators. In addition to centrifugal compressors, other types of products such as oil-lubricated screw compressors also have a place in the market, meeting the needs of different industries and customers.

In the Southeast Asian market, Indonesia as an important economy in the region, its refrigeration compressor market demand also showed strong growth momentum. With the continuous development of Indonesia's economy and growing population, the demand for air conditioners, refrigerators and other refrigeration equipment will further increase, which will lead to growth in demand for refrigeration compressors market. It is expected that in the next few years, the CAGR of Indonesia's refrigeration compressor market will remain at a high level, and the market size will continue to expand.

China, as a large producer and exporter of refrigeration compressors, occupies a pivotal position in the Southeast Asian market. Many Chinese refrigeration compressor enterprises have successfully entered the Southeast Asian market and gradually established stable sales channels and customer groups through cooperation with local enterprises and brands. For example, Garcibella Compressors Limited, Hangzhou Qianjiang Refrigeration Group Co., Ltd. and other enterprises not only have a wide range of sales networks in Southeast Asia, but also actively expand the export business, and continue to enhance the brand influence and market competitiveness.

Looking ahead, the refrigeration compressor market in Southeast Asia will continue to maintain the growth trend. On the one hand, with the increasingly serious problem of global climate change and the growing demand for energy saving and emission reduction, the refrigeration compressor market will develop in the direction of intelligent, efficient and green. On the other hand, the continuous development of the economy and population growth in Southeast Asia will provide continuous power for the refrigeration equipment market, which will promote the further expansion of the refrigeration compressor market.