Industrial Refrigeration System Market Demand, Supply, Growth Factors, Latest Rising Trend & Forecast to 2027

The global industrial refrigeration system market is expected to grow to US$ 33.66 Bn by 2025 from US$ 20.02 Bn in 2017, growing at a CAGR of 6.8% from 2018 to 2025.

The rapid and continued growth in the industrial refrigeration systems has serious economic and environmental consequences. With the increase of refrigeration units in use comes the corresponding increase in energy consumption and environmental impact. The global industrial refrigeration system market is experiencing steady growth with regards to the technological advancements, formulation of standards, and the investments being made by the various companies to gain market leadership positions. The market for Industrial Refrigeration System consists of a large number of players across the globe leading to a fragmented market. Also, there a large number of smaller players present in the market and lower entry barriers into this market have resulted in the influx of small companies venturing into this arena. There are various factors that are contributing to the growing demands for innovative and technologically advanced industrial refrigeration system in different regions of the world.

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 The key companies profiled in this report include Emerson Electric Co., United Technologies Corporation, Johnson Controls Inc., Evapco, Inc., Danfoss, Hussmann Corporation, Dover Corporation, Ingersoll-Rand Plc., Carnot Refrigeration, and Innovative Refrigeration Systems, Inc.

The future of market for industrial refrigeration system is promising, as the research centers are continually innovating new technologies and researching on replacing traditional refrigerants in order to enhance the technicalities of the machinery and to reduce environmental hazards. As a result, technologically enriched sensors systems are being developed and integrated, which is expected to attract the significant number of industries in the coming years.

The global market for Industrial Refrigeration System has been segmented by refrigerant type into CO2, HFC, and ammonia; by equipment into compressor, condenser, evaporator, and others; by application into food processing, chemicals & pharmaceuticals and refrigerated logistics; and geography. Asia Pacific is the fastest growing region in the industrial refrigeration system market and it is expected to grow at a CAGR of 8.0% during the forecast period. The growing economies of the region are leading to the growth in wide variety of sectors, such as manufacturing, technology, and various others. Furthermore, the rise in consumer demand for packaged food and perishable foods, growth of international trade due to trade liberalization, and development of food retail chains lead to the increasing demand of refrigerated logistics. Thus, the government support for infrastructural development fuels the demand in the industrial refrigeration market.

Global Industrial Refrigeration System Market Segmentation

By Refrigerant Type

  • CO2
  • HFC
  • Ammonia (NH3)

By Equipment

  • Compressor
  • Condenser
  • Evaporator
  • Others

By Application

  • Food Processing
  • Chemicals & Pharmaceuticals
  • Oil & Gas
  • Refrigerated Logistics

By Geography

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • Germany
    • Italy
    • Spain
    • UK
    • Rest of Europe
  • Asia Pacific (APAC)
    • Australia
    • China
    • India
    • Japan
    • Rest of APAC
  • Middle East and Africa (MEA)
    • Saudi Arabia
    • UAE
    • South Africa
    • Rest of MEA
  • South America (SAM)
    • Brazil
    • Rest of SAM

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Posted by on Tuesday October 22 2019, 4:04 AM EST. All trademarks acknowledged. Filed under Semiconductors, Technology Hardware & Equipment. Comments and Trackbacks closed. Follow responses: RSS 2.0

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