Rotary Compressor, compared with Scroll Compressor, Screw Compressor and Piston Compressor, has the advantage of mature technology, small size and low cost. Its disadvantages are big noise, limited refrigerating capacity and narrow application range. The size of China's commercial refrigeration equipment market in 2017 was 38.7 billion yuan, with a year-on-year increase of 14%; of which, in 2017, Rotary Compressor accounted for 2.7% and 2.5% respectively in the application of light and large commercial refrigeration equipment. Although the proportion is small, the growth rate of Rotary Compressor is the fastest. The market capacity of Rotary Compressor in 2017 increased by nearly 80%. It is expected that the compound growth rate of Rotary Compressor will reach 15.7% in the following three years.
Commercial refrigeration equipment grows steadily, contributing to generating the demand for compressors. The global market size of commercial refrigeration equipment is relatively stable, which was 39 billion dollar in 2017 with a growth rate of 3% . North America is the world's largest freezer and refrigeration market, with a size reaching US$12.8 billion; Asia is the world's second largest freezer and refrigeration market with a scale of 9.7 billion dollars, mainly concentrated in China and India.
The market scale of light commercial refrigeration equipment in China has grown rapidly, reaching 23.5 billion yuan in 2017 with a compound growth rate of 19.4% in the past five years, which has become a new growth point. Large commercial refrigeration equipment reached 15.2 billion yuan in 2017, with a compound growth rate of 5.4% in the past five years. The continuous growth of commercial refrigeration equipment has also driven the growth of the upstream compressor market. In 2017, the total capacity of all compressor markets was 9.89 million units, with a year-on-year growth rate of 18.3%, of which the largest sealed piston compressors accounted for the largest proportion of 94%. Rotary Compressor had the fastest growth rate of 79.2%. In recent years, although the proportion of applications of compressors has changed, the overall growth trend is objective.
In the past five years, the application of Rotary Compressor in the field of freezer and refrigeration has expanded rapidly. In 2015, the growth rate was as high as 214.8%. After that, although the growth rate has declined, it is still at a high growth level; the application proportion in the freezer and refrigeration market is also increasing from 0.3% in 2013 to 2.2% in 2017.
In the future, with the acceleration of urbanization, large population ratio, strong consumption potential, and rapid increase in disposable income, the market size of commercial refrigeration equipment will continue to grow steadily. As the upstream product, the compressor industry will also achieve rapid development. It is estimated that by 2020, the overall size of the compressor industry will reach 14.46 million units, and the compound growth rate from 2018 to 2020 will be 13.5%. In terms of Rotary Compressor for freezer and refrigeration, it is estimated that the market size will reach 330,000 units in 2020 with a compound growth rate of 15.7% from 2018 to 2020. Although the scale is small, the growth rate is rapid and the market scale will continue to expand.