Global Industrial Refrigeration Systems Market Segments 2024, Forecast To 2033
5 Mar, 2024
The industrial refrigeration systems market has witnessed strong growth, increasing from $21.96 billion in 2023 to $23.45 billion in 2024, with a 6.8% CAGR. The growth is attributed to environmental regulations, energy efficiency concerns, globalization of supply chains, and changing consumer preferences. Expecting robust growth, the market is projected to reach $30.32 billion in 2028 with a 6.6% CAGR, fueled by rising demand for cold storage, adoption of natural refrigerants, strategic partnerships, and regulatory emphasis on energy efficiency.
Global Industrial Refrigeration Systems Market Key Driver
Growing demand for frozen and processed food is boosting the industrial refrigeration system market. Frozen food is quickly frozen and preserved, while processed food undergoes various mechanical or chemical processes. Industrial refrigeration systems cool large water quantities used in food processing. In 2021, frozen food sales increased by 1%, and processed food exports rose from $11,671 million to $13,261 million. This surge in demand propels the industrial refrigeration system market, driven by the American Frozen Food Institute and the Agricultural and Processed Food Products Export Development Authority.
Get A Free Sample Of The Global Industrial Refrigeration Systems Market ReportGlobal Industrial Refrigeration Systems Market Segments
The industrial refrigeration systems market covered in this report is segmented –
1) By Component: Compressors, Rotary Screw Compressors, Centrifugal Compressors, Reciprocating Compressors, Diaphragm Compressors, Evaporators, Condensers, Controls
2) By Refrigerant: Ammonia, Carbon Dioxide
3) By Application: Refrigerated Warehouse, Refrigerated Transportation, Beverage Processing, Dairy and Ice cream Processing
By Geography: The regions covered in the anti inflammatory therapeutics market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
North America was the largest region in the Industrial Refrigeration System in 2023. The regions covered in the industrial refrigeration systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Industrial Refrigeration Systems Industry Players
Johnson Controls International PLC; GEA Group Aktiengesellschaft; Danfoss A/S; Daikin Industries Ltd.; EVAPCO Inc.; Bitzer Kuhlmaschinenbau GmbH; LU-VE GROUP; Güntner GmbH & Co. KG.; Star Refrigeration Ltd.; Emerson Electric Co.; Lennox International Inc.; Mayekawa Manufacturing Co. Ltd.; Dover Corporation; Ingersoll Rand plc; Linde; M&M Systems Inc.; MAN Energy Solutions; Mark Refrigeration Equipment Company; MTI Micro-Tech International Inc.; Parker Hannifin Corporation; Polycold Systems Inc.; Enviro Tech International Inc.; Refrigeration Engineering Corporation; Rivacold S.r.l.; SCM Frigo Group S.r.l.; Sterling Cryogenics BV.; Trane Technologies plc; United Technologies Corporation; Vilter Manufacturing Corporation; Vogt Ice Machine Co.; Weiss Umwelttechnik GmbH
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AIOps Industrial Refrigeration Systems Market Overview
Industrial refrigeration system refers to tools and accessories designed to take heat away from big operations or big materials, bringing the temperature down to a suitable level. They are commonly used in cold storage, dairy processing, and beverage production.
Industrial Refrigeration Systems Global Market Report 2023 provides data on the global industrial refrigeration systems market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The industrial refrigeration systems market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.