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Industrial Refrigeration Market


INTRODUCTION

• The global industrial refrigeration market is expected to reach $14,525.69 million in 2024, from $10,127.57 million in 2017, growing at a CAGR of 5.40% from 2018 to 2024. • Industrial refrigeration systems are used for cooling gigantic freezers and refrigeration plants that are used in food & beverage processing, cold storage, and others.

• The demand for industrial refrigeration systems has increased in the food & beverage processing and storage industries, as these systems prevent spoilage of perishable semi-processed foods & drinks.


Industrial Refrigeration Market

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OVERVIEW

• The introduction of advanced technologies such as innovative IoT-enabled refrigeration monitoring solutions provides growth opportunities for industrial refrigeration systems. • Rise in trend of upgrading cold storage infrastructures across emerging economies drives the growth of the industrial refrigeration market. The growth in demand for industrial refrigeration systems in the FMCG industry majorly drives the growth of the market, owing to the increased use of packaged & processed food & beverages in the developing countries. • Industrial refrigeration systems are deployed at large freezing and refrigeration plants for use in various industrial applications such as food & beverage processing, cold storage, and others.


KEY BENEFITS

• In 2017, the refrigerated warehouse segment dominated the global industrial refrigeration market, in terms of revenue, and is projected to grow at a CAGR of 6.3% during the forecast period • The ammonia-based refrigerant segment is projected to grow at a CAGR of 4.9% during the forecast period • Europe is expected to exhibit the highest CAGR during the forecast period. Countries such as UK, Germany, Russia, France, Italy, and others are expected to drive the industrial refrigeration market in the coming years.


Industrial Refrigeration Market : By Type


Industrial Refrigeration Market : By Geography Geographically, the market is segmented into:


KEY PLAYERS • The major players, such as Daikin Industries, Ltd., Emerson Electric Co., Evapco, Inc., GEA Group AG, Johnson Controls, Inc., Ingersoll Rand Plc, LU-VE Group, Mayekawa Mfg. Co. Ltd., The Danfoss Group, and United Technologies Corporation, have adopted new product launch and business expansion as their key strategies to expand their market foothold.

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Industrial refrigeration market  

The industrial refrigeration market is projected to witness significant growth in Europe in the coming years, owing to increased demand for...

Industrial refrigeration market  

The industrial refrigeration market is projected to witness significant growth in Europe in the coming years, owing to increased demand for...

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