Refrigeration Components Market Size, Share, Growth, Trends, and Global Industry Analysis: By Component (Compressors, Condensers, Evaporators, Expansion Valves, Controls & Sensors, and Auxiliary Parts), By Refrigerant Compatibility (HFC/HCFC, Low-GWP Refrigerants, and Natural Refrigerants), By End User (Commercial, Industrial, and Residential & Mobile), and Region Forecast 2020-2031

Refrigeration Components Market size was valued at US$ 36.3 billion in 2024 and is expected to reach US$ 53.5 billion by 2031, growing at a significant CAGR of 6.2% from 2025-2031. Refrigeration components consist of vital components—compressors, condensers, evaporators, expansion valves, controls, filters, sensors, and so on—that are complementary to each other to enable heat transfer and maintain controlled temperatures in systems from consumer appliances to industrial cold storage.

The market for refrigeration components is spurred by growing demand for energy-efficient and environmentally friendly refrigeration systems in industries such as food processing, retail, cold storage, and healthcare. This demand is driven by the growing use of low-GWP refrigerants, cold chain logistics growth driven by e-commerce, and data center expansion. Also, the progress in smart technologies and remote diagnostics has caused wider use of modern refrigeration components. But there are restraints in the market also, brought about by excessive expense on high-end components, technical complexity involved in retrofitting earlier systems, and difficulty in regulatory compliance, especially by new natural refrigerants. There are also supply chain disruptions from the global supply chain, volatile costs of raw materials, and unavailability of skilled labor for installation and servicing that affect the free flow of the market. Achieving balance among sustainability, performance, and cost remains a sensitive process for component makers.

Facts & Figures 

• Condensers & Evaporators: Advanced heat exchangers improve system efficiency by up to 20%
• Adaptive controls can cut energy use by 15–20%, adjusting output based on ambient conditions
• IoT-enabled systems improve operational efficiency by ~22%, enabling predictive maintenance
• Energy-efficient refrigeration units can reduce electricity consumption by up to 30%
• Refrigerant leaks contribute to ~20% of emissions, prompting tighter regulations and leak detection systems
• AI adoption in refrigeration management is expected to reduce operational costs by 15–20%

Key Developments 

• In May 2025, Copeland introduced a new scroll compressor series compatible with low-GWP refrigerants for small commercial refrigeration systems, aiming to reduce environmental impact while improving energy efficiency.
• In April 2025, Danfoss launched a new line of smart expansion valves integrated with adaptive control algorithms for better thermal regulation and minimal energy usage in industrial refrigeration.
• In March 2025, Johnson Controls expanded their York refrigeration product line with modular component units featuring AI-powered performance diagnostics tailored for data center cooling applications.
• In February 2025, Carrier announced a strategic partnership to co-develop IoT-enabled control systems that can automate refrigeration component diagnostics and maintenance across distributed retail networks.

Refrigeration Components Market Segmentation

Based on the component 

• Compressors
• Condensers
• Evaporators
• Expansion Valves
• Controls & Sensors
• Auxiliary Parts

Compressors are integral components in refrigeration systems, serving as the core unit that compresses and distributes refrigerant. Between the different models, scroll and screw compressors are frequently utilized due to their efficiency-durability balance. Variable-speed compressors are becoming increasingly popular as they provide finer control on temperature and energy use. Also being developed are compressors that are compatible with low-GWP and naturally occurring refrigerants such as CO?, which have more stringent pressure resistance requirements. In commercial applications such as supermarkets and cold storage, efficient compressor operation is vital to delivering consistent cooling without excessive energy consumption. Their increasing integration with monitoring systems means real-time examination can be undertaken, allowing for predictive maintenance and reducing unplanned failures. With tightening environmental regulations, compressors offering performance along with green technology support are finding even more favor in every major end-use industry.

Based on the refrigerant compatibility 

• HFC/HCFC
• Low-GWP Refrigerants
• Natural Refrigerants

Refrigerant selection directly affects refrigeration component design and choice. To some extent, traditional HFC or HCFC-based systems still exist, especially where phasedown policies lag behind, but are being phased out because of environmental concerns. Transitional solutions come in the form of low-GWP HFO blends, which allow for improved energy efficiency within acceptable regulatory limits. But the actual development is towards natural refrigerants like CO?, ammonia, and hydrocarbons. These have specialized components—CO? systems, for instance, need high-pressure compressors and valves, whereas systems based on ammonia need resistance to corrosion. The move towards natural alternatives is prompted by climate goals, especially in Europe and parts of Asia. Companies are reengineering parts to withstand pressure differentials, chemical reaction, and tighter safety standards. Overall, refrigerant compatibility is no longer a technical necessity—it's an indicator of green responsibility and forward thinking.

Based on the end user

• Commercial
• Industrial
• Residential & Mobile

Refrigeration parts are used by a wide variety of end users in commercial, industrial, and residential or mobile markets. In commercial applications—such as supermarkets, restaurants, and hospitals—there is concern for dependability and ongoing service, so demand for smart sensors, high-efficiency compressors, and electronic valves is especially strong. Industrial applications like food processing plants, cold storage facilities, and drug manufacturing companies emphasize heavy-duty, large-scale components that can withstand harsh conditions and high safety standards. These applications tend to need compatible systems with natural refrigerants and remote monitoring features. On the other hand, residential and mobile applications—such as domestic refrigerators and cold transport—call for low-noise, energy-efficient, and compact components. While electric vehicles will start using thermal management systems, mobile refrigeration is undergoing change as well. The variability of end-user needs is forcing component makers to provide not only performance but also customization and sustainability in every segment.