Refrigeration Coolers Market Size Share and Global Forecast to 2027

MarketsandMarkets Presents Refrigeration Coolers Market with COVID-19 Impact Analysis by Component (Evaporators and Air Coolers, Condensers), Refrigerant (HFC/HFO, NH3, CO2, Glycol, Others), Applications (Commercial, Industrial) and Geography - Global Forecast to 2027 The global Refrigeration coolers market is expected to grow from USD 3.6 billion in 2022 to USD 4.8 billion by 2027, at a CAGR of 6.0%.

MarketsandMarkets Presents Growing investments in refrigerated warehouses/cold storage, rising demand for frozen and processed foods worldwide, rising demand for innovative and compact refrigeration coolers, and growing adoption of natural refrigerant-based systems in various commercial and industrial applications will drive the demand for this market in the near future.

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Evaporators and Air Coolers type estimated to contribute the largest market share in the said market during the forecast period Evaporator and air cooler component types are expected to contribute a major share in the refrigeration coolers market during the forecast period. Refrigeration is driving massive growth in commercial and industrial applications with advanced refrigeration systems.

MarketsandMarkets Presents Commercial is estimated to be the fastest-growing market during the forecast period The commercial applications cover a wide range of premises from small cafes to supermarkets and refrigeration requirements from frozen to chilled produce in different areas, including hypermarkets, mini stores, convenience stores, grocery stores, hospitality centers, and small retail stores. For larger supermarkets, energy use is typically considered as a whole, including the building HVAC, water use, lighting, and commercial refrigeration, with heat recovery being a key contributor to minimizing energy consumption, particularly where space heating is a seasonal requirement.

MarketsandMarkets Presents Asia Pacific is expected to grow at the highest rate APAC is expected to contribute to the highest CAGR during the forecast period in the refrigerated cooler market. The highest CAGR of the market in APAC is attributed to the increasing demand for refrigeration cooling units from the commercial and industrial applications in this region.

APAC comprises countries such as China, India, and Japan, which are leading countries globally in terms of having higher refrigerated warehouse capacity, and the global market players are experiencing strong demand from countries such as China, India, Japan, and South Korea.

Growth is mainly driven by the refrigerated warehouse, food & beverages processing, and meat and poultry processing applications. The growing population in APAC creates a high demand for food, thereby creating opportunities for food processing facilities in this market.

Furthermore, government subsidies in setting up cold chain networks are strengthening the cold chain infrastructure across the region.

MarketsandMarkets Presents iMajor players in the refrigeration coolers market nclude Johnson Controls International plc (Ireland), Lu-Ve SPA (Italy), Lennox International (US), Kelvion Holding GmbH (Germany), Rivacold srl (Italy) H. Güntner Limited (Italy), Evapco, Inc. (US), Thermofin (Canada), Emerson Electric Co (US), and Modine Manufacturing Co (US) among others.

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