Industrial Refrigeration market to reach $14,525.69 million in 2024 | CAGR 5.40% Global Opportunity Analysis and Industry Forecast, 2017-2024
Global Industrial Refrigeration Market Overview: 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 refers to the process of cooling using refrigeration and cooling systems to remove the heat from a low-temperature medium and transferring it to a high-temperature medium. 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.
Request Sample Report: 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 and prevention of spoilage of semi-processed food & drinks. The introduction of advanced technologies such as innovative IoT-enabled refrigeration monitoring solutions provides growth opportunities for industrial refrigeration systems. Furthermore, rise in trend of upgrading cold storage infrastructures across emerging economies drives the growth of the market. However, high energy consumption for operation and high investment in maintenance of industrial refrigeration systems hamper the growth of the industrial refrigeration market . 2
Key Benefits • The report provides an extensive analysis of the current and emerging market trends and dynamics in the global industrial refrigeration market. • In-depth analysis is conducted by constructing market estimations for the key market segments between 2017 and 2024. • Extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework. • Comprehensive analysis of all regions are provided that determines the prevailing opportunities in these geographies. • Key market players within the industrial refrigeration market are profiled in this report and their strategies are analyzed thoroughly, which helps understand the competitive outlook of the market. ADD A FOOTER 3
Industrial Refrigeration Market Key Segments: By Offering
By Component
By Refrigerant Type
By Application
Industrial Refrigerator
Compressor
Ammonia
Fruit & Vegetable Processing
Component
Condenser
Carbon Dioxide
Beverage
Evaporator
Hydrofluorocarbon (HFC)
Refrigerated Warehouse
Control
Others
Chemical & Pharmaceutical
Others
Dairy & Ice Cream Processing Meat, Poultry, & Fish Processing Refrigerated Transportation Others
By Region • Asia-Pacific
• North America • U.S. • Mexico • Canada
• • • • •
• Europe • • • • •
UK Germany France Russia Rest of Europe
China Japan India Australia Rest of Asia-Pacific
• LAMEA • Latin America • Middle East • Africa ADD A FOOTER 5
Key Players Daikin Industries, Ltd.
United Technologies Corporation
Emerson Electric Co.
LU-VE Group
Evapco, Inc.
Ingersoll Rand Plc
Mayekawa Mfg. Co. Ltd.
Johnson Controls, Inc.
The Danfoss Group
GEA Group AG
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