REPORT OUTLOOK
Market Size | CAGR | Dominating Region |
---|---|---|
USD 30.88 billion | 5.3% | Asia Pacific |
By Component | By Application | By Region |
---|---|---|
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SCOPE OF THE REPORT
Industrial Refrigeration Market Overview
The global industrial refrigeration market is expected to grow at 5.3 % CAGR from 2020 to 2029. It is expected to reach above USD 30.88 billion by 2029 from USD 19.4 billion in 2020.
Large-scale cooling systems, such as those used in dairy processing, cold food storage, ice rinks, and beverage production, are known as industrial refrigeration. As a result, the industrial refrigeration business is always evolving and innovating. Compressor, evaporator, condenser, controls and other components make up the majority of industrial refrigeration. The industrial refrigeration system employs cutting-edge and cutting-edge manufacturing techniques to assist extend product life and lower energy costs. Factors driving the growth of the industrial refrigeration market include rising demand for innovative and compact refrigeration systems, increased government support to strengthen cold chain infrastructure in developing countries, and a growing preference for environmentally friendly refrigerant-based refrigeration systems due to stringent regulatory policies.
Due to rising consumption of packaged & processed food & beverages in emerging nations and the avoidance of rotting of semi-processed food & drinks, the need for industrial refrigeration systems in the FMCG industry is driving the market’s growth. Furthermore, the market is growing due to an increase in the trend of updating cold storage systems across emerging economies. Clinics, pharmacies, hospitals, and diagnostic centers have a growing demand for secure storage of medication molecules and blood derivatives, which is boosting the market worldwide. Industrial refrigeration systems are driving demand in the healthcare sector because of their lower energy consumption and maintenance costs, accurate temperature control, and 24/7 remote monitoring systems.
ATTRIBUTE | DETAILS |
Study period | 2020-2029 |
Base year | 2021 |
Estimated year | 2022 |
Forecasted year | 2022-2029 |
Historical period | 2018-2020 |
Unit | Value (USD Billion), (Kilotons) |
Segmentation | By Component, By Application, By Region |
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By Component  |
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By Application  |
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By Region  |
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Increased use of natural refrigerants such as carbon dioxide (CO2), ammonia (NH3), and other natural refrigerants has helped to minimize hazardous gas emissions that contribute to global warming. As public knowledge of detrimental dangers has grown, manufacturers have changed their focus from the thermodynamic properties of refrigerants to their ozone depletion potential (ODP) and global warming potential (GWP). As a result, in recent years, there has been an increase in global demand for natural refrigerant-based industrial equipment. Natural refrigerants are being widely adopted by industry leaders as a step toward social responsibility in order to reduce ozone layer depletion.
The strong growth in the industrial refrigeration systems market can be attributed to the e-commerce industry’s good outlook. Major retailers are increasing their presence in the e-commerce sector, giving the industry a boost. E-commerce enterprises have been pushed to invest in innovative industrial refrigeration systems as the demand for frozen foods and beverages has grown.
covid-19 has had a significant impact on the operations of industrial refrigeration manufacturers, as well as their suppliers and distributors. In the medium term, the decline in export shipments, project delays, and poor domestic demand for industrial refrigeration in contrast to pre-covid-19 levels is likely to negatively impact and slightly stagnant demand for industrial refrigeration. On the other hand, due to the requirement for vaccine preservation in huge quantities to restrict the spread of the virus, the deployment of refrigerated transportation systems exploded at this time.
Industrial Refrigeration Market Segment Analysis
The global industrial refrigeration market is segmented based on component, application. By component, the market is bifurcated into controls, compressor, condenser, evaporator. By component, controls in the industrial refrigeration market are expected to grow at the fastest rate throughout the forecast period. Controls in industrial refrigeration help to optimize efficiency, automate temperature controls, and make adjustments based on requirements. Control systems can also be utilized to automate defrost cycles at different times, which saves a lot of electricity. Additionally, firms are heavily spending in R&D efforts to improve the efficiency of industrial systems and minimize operational costs, which is projected to drive the controls market during the forecast period.
By application, the market is divided into chemical & petrochemicals, fruit & vegetable processing, refrigerated warehouse. Chemical and petrochemical processes, notably the handling and processing of commodities like oil, gas, and other chemical compounds, are exceedingly difficult. To manufacture the final product, several procedures and operations in these applications necessitate the removal of heat and refrigeration. Crystallization and condensation are examples of these processes. Similarly, to preserve and maintain product integrity, the pharmaceutical sector relies on refrigerated or temperature-controlled equipment. The increasing demand for industrial cold storage facilities to keep medications and vaccines is a crucial driver driving growth in chemical, petrochemical, and pharmaceutical applications.
Industrial Refrigeration Market Players
The industrial refrigeration market key players include Carrier, Daikin Industries, Ltd., Danfoss Group, Emerson Electric Co., Evapco, Inc., GEA Group AG, Johnson Controls, Ingersoll Rand, LU-VE Group, Mayekawa Mfg. Co. Ltd
For corporate expansion, these key leaders are implementing strategic formulations such as new product development and commercialization, commercial expansion, and distribution agreements. Moreover, these participants are substantially spending in product development, which is fueling revenue generation.
Who Should Buy? Or Key Stakeholders
- Industrial refrigeration Supplier
- Raw Materials Manufacturers
- Research Organizations
- Investors
- Regulatory Authorities
- Others
Industrial Refrigeration Market Regional Analysis
The industrial refrigeration market by region includes North America, Asia-Pacific (APAC), Europe, South America, and Middle East & Africa (MEA).
- North America: includes the US, Canada, Mexico
- Asia Pacific: includes China, Japan, South Korea, India, Australia, ASEAN and Rest of APAC
- Europe: includes UK, Germany, France, Italy, Spain, Russia, and Rest of Europe
- South America: includes Brazil, Argentina and Rest of South America
- Middle East & Africa: includes Turkey, UAE, Saudi Arabia, South Africa, and Rest of MEA
During the projected period, APAC is expected to be the fastest-growing industrial refrigeration market. The market’s expansion can be ascribed to the region’s burgeoning pharmaceutical industry, as well as government subsidies for enhancing cold chain and preservation facilities. In APAC countries like India, China, and Japan, refrigeration storage capacity is increasing.
Additionally, governments in a number of APAC countries support the Montreal Protocol plan to phase out ecologically damaging refrigerants, opening up a slew of prospects for natural refrigerant-based refrigeration system providers. As a result, government attempts to improve cold chain management systems are likely to be a major driver of industrial refrigeration growth in the APAC area.
Key Market Segments: Industrial Refrigeration Market
Industrial Refrigeration Market by Component, 2020-2029, (USD Billion), (Kilotons)
- Controls
- Compressor
- Condensor
- Evaporator
Industrial Refrigeration Market by Application, 2020-2029, (USD Billion), (Kilotons)
- Chemicals & Petrochemicals
- Fruit & Vegetable Processing
- Refrigerated Warehouse
Industrial Refrigeration Market by Region, 2020-2029, (USD Billion), (Kilotons)
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East And Africa
Important countries in all regions are covered.
Key Question Answered
- What is the current size of the industrial refrigeration market?
- What are the key factors influencing the growth of industrial refrigeration?
- What are the major applications for industrial refrigeration?
- Who are the major key players in the industrial refrigeration market?
- Which region will provide more business opportunities for industrial refrigeration in future?
- Which segment holds the maximum share of the industrial refrigeration market?
Table of Content
- Introduction
- Market Definition
- Market Segmentation
- Research Timelines
- Assumptions and Limitations
- Research Methodology
- Data Mining
- Secondary Research
- Primary Research
- Subject-Matter Experts’ Advice
- Quality Checks
- Final Review
- Data Triangulation
- Bottom-Up Approach
- Top-Down Approach
- Research Flow
- Data Sources
- Data Mining
- Executive Summary
- Market Overview
- Global Industrial Refrigeration Market Outlook
- Market Drivers
- Market Restraints
- Market Opportunities
- Impact of Covid-19 On Industrial Refrigeration Market
- Porter’s five forces model
- Threat from new entrants
- Threat from substitutes
- Bargaining power of suppliers
- Bargaining power of customers
- Degree of competition
- Industry value chain Analysis
- Global Industrial Refrigeration Market Outlook
- Global Industrial Refrigeration Market by Component, 2020-2029, (USD MILLIONS), (KILOTONS)
- Controls
- Compressor
- Condenser
- Evaporator
- Global Industrial Refrigeration Market by Application, 2020-2029, (USD MILLION), (KILOTONS)
- Chemicals & Petrochemicals
- Fruit & Vegetable Processing
- Refrigerated Warehouse
- Global Industrial Refrigeration Market by Region, 2020-2029, (USD MILLION), (KILOTONS)
- North America
- US
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Colombia
- Rest Of South America
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest Of Europe
- Asia Pacific
- India
- China
- Japan
- South Korea
- Australia
- South-East Asia
- Rest Of Asia Pacific
- Middle East and Africa
- UAE
- Saudi Arabia
- South Africa
- Rest Of Middle East and Africa
- North America
- Company Profiles* (Business Overview, Company Snapshot, Products Offered, Recent Developments)
-
- Carrier
- Daikin Industries
- Danfoss Group
- Emerson Electric Co.
- Evapco
- GEA Group AG
- Johnson Controls
- Ingersoll Rand
- LU-VE Group
- Mayekawa Mfg. Co. Ltd
*The Company List Is Indicative
LIST OF TABLES
TABLE 1 Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â GLOBAL INDUSTRIAL REFRIGERATION MARKET BY COMPONENT (USD MILLIONS) 2020-2029
TABLE 2 Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â GLOBAL INDUSTRIAL REFRIGERATION MARKET BY COMPONENT(KILOTONS) 2020-2029
TABLE 3 Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â GLOBAL INDUSTRIAL REFRIGERATION MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 4 Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â GLOBAL INDUSTRIAL REFRIGERATION MARKET BY APPLICATION (KILOTONS) 2020-2029
TABLE 5 Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â GLOBAL INDUSTRIAL REFRIGERATION MARKET BY REGION (USD MILLIONS) 2020-2029
TABLE 6 Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â GLOBAL INDUSTRIAL REFRIGERATION MARKET BY REGION (KILOTONS) 2020-2029
TABLE 7 Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â US INDUSTRIAL REFRIGERATION MARKET BY COMPONENT (USD MILLIONS) 2020-2029
TABLE 8 Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â US INDUSTRIAL REFRIGERATION MARKET BY COMPONENT(KILOTONS) 2020-2029
TABLE 9 Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â US INDUSTRIAL REFRIGERATION MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 10Â Â Â Â Â Â Â Â Â Â Â Â Â US INDUSTRIAL REFRIGERATION MARKET BY APPLICATION (KILOTONS) 2020-2029
TABLE 11Â Â Â Â Â Â Â Â Â Â Â Â Â CANADA INDUSTRIAL REFRIGERATION MARKET BY COMPONENT (USD MILLIONS) 2020-2029
TABLE 12Â Â Â Â Â Â Â Â Â Â Â Â Â CANADA INDUSTRIAL REFRIGERATION MARKET BY COMPONENT(KILOTONS) 2020-2029
TABLE 13Â Â Â Â Â Â Â Â Â Â Â Â Â CANADA INDUSTRIAL REFRIGERATION MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 14Â Â Â Â Â Â Â Â Â Â Â Â Â CANADA INDUSTRIAL REFRIGERATION MARKET BY APPLICATION (KILOTONS) 2020-2029
TABLE 15Â Â Â Â Â Â Â Â Â Â Â Â Â MEXICO INDUSTRIAL REFRIGERATION MARKET BY COMPONENT (USD MILLIONS) 2020-2029
TABLE 16Â Â Â Â Â Â Â Â Â Â Â Â Â MEXICO INDUSTRIAL REFRIGERATION MARKET BY COMPONENT(KILOTONS) 2020-2029
TABLE 17Â Â Â Â Â Â Â Â Â Â Â Â Â MEXICO INDUSTRIAL REFRIGERATION MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 18Â Â Â Â Â Â Â Â Â Â Â Â Â MEXICO INDUSTRIAL REFRIGERATION MARKET BY APPLICATION (KILOTONS) 2020-2029
TABLE 19Â Â Â Â Â Â Â Â Â Â Â Â Â BRAZIL INDUSTRIAL REFRIGERATION MARKET BY COMPONENT (USD MILLIONS) 2020-2029
TABLE 20Â Â Â Â Â Â Â Â Â Â Â Â Â BRAZIL INDUSTRIAL REFRIGERATION MARKET BY COMPONENT(KILOTONS) 2020-2029
TABLE 21Â Â Â Â Â Â Â Â Â Â Â Â Â BRAZIL INDUSTRIAL REFRIGERATION MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 22Â Â Â Â Â Â Â Â Â Â Â Â Â BRAZIL INDUSTRIAL REFRIGERATION MARKET BY APPLICATION (KILOTONS) 2020-2029
TABLE 23Â Â Â Â Â Â Â Â Â Â Â Â Â ARGENTINA INDUSTRIAL REFRIGERATION MARKET BY COMPONENT (USD MILLIONS) 2020-2029
TABLE 24Â Â Â Â Â Â Â Â Â Â Â Â Â ARGENTINA INDUSTRIAL REFRIGERATION MARKET BY COMPONENT(KILOTONS) 2020-2029
TABLE 25Â Â Â Â Â Â Â Â Â Â Â Â Â ARGENTINA INDUSTRIAL REFRIGERATION MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 26Â Â Â Â Â Â Â Â Â Â Â Â Â ARGENTINA INDUSTRIAL REFRIGERATION MARKET BY APPLICATION (KILOTONS) 2020-2029
TABLE 27Â Â Â Â Â Â Â Â Â Â Â Â Â COLOMBIA INDUSTRIAL REFRIGERATION MARKET BY COMPONENT (USD MILLIONS) 2020-2029
TABLE 28Â Â Â Â Â Â Â Â Â Â Â Â Â COLOMBIA INDUSTRIAL REFRIGERATION MARKET BY COMPONENT(KILOTONS) 2020-2029
TABLE 29Â Â Â Â Â Â Â Â Â Â Â Â Â COLOMBIA INDUSTRIAL REFRIGERATION MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 30Â Â Â Â Â Â Â Â Â Â Â Â Â COLOMBIA INDUSTRIAL REFRIGERATION MARKET BY APPLICATION (KILOTONS) 2020-2029
TABLE 31Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF SOUTH AMERICA INDUSTRIAL REFRIGERATION MARKET BY COMPONENT (USD MILLIONS) 2020-2029
TABLE 32Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF SOUTH AMERICA INDUSTRIAL REFRIGERATION MARKET BY COMPONENT(KILOTONS) 2020-2029
TABLE 33Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF SOUTH AMERICA INDUSTRIAL REFRIGERATION MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 34Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF SOUTH AMERICA INDUSTRIAL REFRIGERATION MARKET BY APPLICATION (KILOTONS) 2020-2029
TABLE 35Â Â Â Â Â Â Â Â Â Â Â Â Â INDIA INDUSTRIAL REFRIGERATION MARKET BY COMPONENT (USD MILLIONS) 2020-2029
TABLE 36Â Â Â Â Â Â Â Â Â Â Â Â Â INDIA INDUSTRIAL REFRIGERATION MARKET BY COMPONENT(KILOTONS) 2020-2029
TABLE 37Â Â Â Â Â Â Â Â Â Â Â Â Â INDIA INDUSTRIAL REFRIGERATION MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 38Â Â Â Â Â Â Â Â Â Â Â Â Â INDIA INDUSTRIAL REFRIGERATION MARKET BY APPLICATION (KILOTONS) 2020-2029
TABLE 39Â Â Â Â Â Â Â Â Â Â Â Â Â CHINA INDUSTRIAL REFRIGERATION MARKET BY COMPONENT (USD MILLIONS) 2020-2029
TABLE 40Â Â Â Â Â Â Â Â Â Â Â Â Â CHINA INDUSTRIAL REFRIGERATION MARKET BY COMPONENT(KILOTONS) 2020-2029
TABLE 41Â Â Â Â Â Â Â Â Â Â Â Â Â CHINA INDUSTRIAL REFRIGERATION MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 42Â Â Â Â Â Â Â Â Â Â Â Â Â CHINA INDUSTRIAL REFRIGERATION MARKET BY APPLICATION (KILOTONS) 2020-2029
TABLE 43Â Â Â Â Â Â Â Â Â Â Â Â Â JAPAN INDUSTRIAL REFRIGERATION MARKET BY COMPONENT (USD MILLIONS) 2020-2029
TABLE 44Â Â Â Â Â Â Â Â Â Â Â Â Â JAPAN INDUSTRIAL REFRIGERATION MARKET BY COMPONENT(KILOTONS) 2020-2029
TABLE 45Â Â Â Â Â Â Â Â Â Â Â Â Â JAPAN INDUSTRIAL REFRIGERATION MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 46Â Â Â Â Â Â Â Â Â Â Â Â Â JAPAN INDUSTRIAL REFRIGERATION MARKET BY APPLICATION (KILOTONS) 2020-2029
TABLE 47Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH KOREA INDUSTRIAL REFRIGERATION MARKET BY COMPONENT (USD MILLIONS) 2020-2029
TABLE 48Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH KOREA INDUSTRIAL REFRIGERATION MARKET BY COMPONENT(KILOTONS) 2020-2029
TABLE 49Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH KOREA INDUSTRIAL REFRIGERATION MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 50Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH KOREA INDUSTRIAL REFRIGERATION MARKET BY APPLICATION (KILOTONS) 2020-2029
TABLE 51Â Â Â Â Â Â Â Â Â Â Â Â Â AUSTRALIA INDUSTRIAL REFRIGERATION MARKET BY COMPONENT (USD MILLIONS) 2020-2029
TABLE 52Â Â Â Â Â Â Â Â Â Â Â Â Â AUSTRALIA INDUSTRIAL REFRIGERATION MARKET BY COMPONENT(KILOTONS) 2020-2029
TABLE 53Â Â Â Â Â Â Â Â Â Â Â Â Â AUSTRALIA INDUSTRIAL REFRIGERATION MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 54Â Â Â Â Â Â Â Â Â Â Â Â Â AUSTRALIA INDUSTRIAL REFRIGERATION MARKET BY APPLICATION (KILOTONS) 2020-2029
TABLE 55Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH-EAST ASIA INDUSTRIAL REFRIGERATION MARKET BY COMPONENT (USD MILLIONS) 2020-2029
TABLE 56Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH-EAST ASIA INDUSTRIAL REFRIGERATION MARKET BY COMPONENT(KILOTONS) 2020-2029
TABLE 57Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH-EAST ASIA INDUSTRIAL REFRIGERATION MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 58Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH-EAST ASIA INDUSTRIAL REFRIGERATION MARKET BY APPLICATION (KILOTONS) 2020-2029
TABLE 59Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF ASIA PACIFIC INDUSTRIAL REFRIGERATION MARKET BY COMPONENT (USD MILLIONS) 2020-2029
TABLE 60Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF ASIA PACIFIC INDUSTRIAL REFRIGERATION MARKET BY COMPONENT(KILOTONS) 2020-2029
TABLE 61Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF ASIA PACIFIC INDUSTRIAL REFRIGERATION MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 62Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF ASIA PACIFIC INDUSTRIAL REFRIGERATION MARKET BY APPLICATION (KILOTONS) 2020-2029
TABLE 63Â Â Â Â Â Â Â Â Â Â Â Â Â GERMANY INDUSTRIAL REFRIGERATION MARKET BY COMPONENT (USD MILLIONS) 2020-2029
TABLE 64Â Â Â Â Â Â Â Â Â Â Â Â Â GERMANY INDUSTRIAL REFRIGERATION MARKET BY COMPONENT(KILOTONS) 2020-2029
TABLE 65Â Â Â Â Â Â Â Â Â Â Â Â Â GERMANY INDUSTRIAL REFRIGERATION MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 66Â Â Â Â Â Â Â Â Â Â Â Â Â GERMANY INDUSTRIAL REFRIGERATION MARKET BY APPLICATION (KILOTONS) 2020-2029
TABLE 67Â Â Â Â Â Â Â Â Â Â Â Â Â UK INDUSTRIAL REFRIGERATION MARKET BY COMPONENT (USD MILLIONS) 2020-2029
TABLE 68Â Â Â Â Â Â Â Â Â Â Â Â Â UK INDUSTRIAL REFRIGERATION MARKET BY COMPONENT(KILOTONS) 2020-2029
TABLE 69Â Â Â Â Â Â Â Â Â Â Â Â Â UK INDUSTRIAL REFRIGERATION MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 70Â Â Â Â Â Â Â Â Â Â Â Â Â UK INDUSTRIAL REFRIGERATION MARKET BY APPLICATION (KILOTONS) 2020-2029
TABLE 71Â Â Â Â Â Â Â Â Â Â Â Â Â FRANCE INDUSTRIAL REFRIGERATION MARKET BY COMPONENT (USD MILLIONS) 2020-2029
TABLE 72Â Â Â Â Â Â Â Â Â Â Â Â Â FRANCE INDUSTRIAL REFRIGERATION MARKET BY COMPONENT(KILOTONS) 2020-2029
TABLE 73Â Â Â Â Â Â Â Â Â Â Â Â Â FRANCE INDUSTRIAL REFRIGERATION MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 74Â Â Â Â Â Â Â Â Â Â Â Â Â FRANCE INDUSTRIAL REFRIGERATION MARKET BY APPLICATION (KILOTONS) 2020-2029
TABLE 75Â Â Â Â Â Â Â Â Â Â Â Â Â ITALY INDUSTRIAL REFRIGERATION MARKET BY COMPONENT (USD MILLIONS) 2020-2029
TABLE 76Â Â Â Â Â Â Â Â Â Â Â Â Â ITALY INDUSTRIAL REFRIGERATION MARKET BY COMPONENT(KILOTONS) 2020-2029
TABLE 77Â Â Â Â Â Â Â Â Â Â Â Â Â ITALY INDUSTRIAL REFRIGERATION MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 78Â Â Â Â Â Â Â Â Â Â Â Â Â ITALY INDUSTRIAL REFRIGERATION MARKET BY APPLICATION (KILOTONS) 2020-2029
TABLE 79Â Â Â Â Â Â Â Â Â Â Â Â Â SPAIN INDUSTRIAL REFRIGERATION MARKET BY COMPONENT (USD MILLIONS) 2020-2029
TABLE 80Â Â Â Â Â Â Â Â Â Â Â Â Â SPAIN INDUSTRIAL REFRIGERATION MARKET BY COMPONENT(KILOTONS) 2020-2029
TABLE 81Â Â Â Â Â Â Â Â Â Â Â Â Â SPAIN INDUSTRIAL REFRIGERATION MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 82Â Â Â Â Â Â Â Â Â Â Â Â Â SPAIN INDUSTRIAL REFRIGERATION MARKET BY APPLICATION (KILOTONS) 2020-2029
TABLE 83Â Â Â Â Â Â Â Â Â Â Â Â Â RUSSIA INDUSTRIAL REFRIGERATION MARKET BY COMPONENT (USD MILLIONS) 2020-2029
TABLE 84Â Â Â Â Â Â Â Â Â Â Â Â Â RUSSIA INDUSTRIAL REFRIGERATION MARKET BY COMPONENT(KILOTONS) 2020-2029
TABLE 85Â Â Â Â Â Â Â Â Â Â Â Â Â RUSSIA INDUSTRIAL REFRIGERATION MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 86Â Â Â Â Â Â Â Â Â Â Â Â Â RUSSIA INDUSTRIAL REFRIGERATION MARKET BY APPLICATION (KILOTONS) 2020-2029
TABLE 87Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF EUROPE INDUSTRIAL REFRIGERATION MARKET BY COMPONENT (USD MILLIONS) 2020-2029
TABLE 88Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF EUROPE INDUSTRIAL REFRIGERATION MARKET BY COMPONENT(KILOTONS) 2020-2029
TABLE 89Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF EUROPE INDUSTRIAL REFRIGERATION MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 90Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF EUROPE INDUSTRIAL REFRIGERATION MARKET BY APPLICATION (KILOTONS) 2020-2029
TABLE 91Â Â Â Â Â Â Â Â Â Â Â Â Â UAE INDUSTRIAL REFRIGERATION MARKET BY COMPONENT (USD MILLIONS) 2020-2029
TABLE 92Â Â Â Â Â Â Â Â Â Â Â Â Â UAE INDUSTRIAL REFRIGERATION MARKET BY COMPONENT(KILOTONS) 2020-2029
TABLE 93Â Â Â Â Â Â Â Â Â Â Â Â Â UAE INDUSTRIAL REFRIGERATION MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 94Â Â Â Â Â Â Â Â Â Â Â Â Â UAE INDUSTRIAL REFRIGERATION MARKET BY APPLICATION (KILOTONS) 2020-2029
TABLE 95Â Â Â Â Â Â Â Â Â Â Â Â Â SAUDI ARABIA INDUSTRIAL REFRIGERATION MARKET BY COMPONENT (USD MILLIONS) 2020-2029
TABLE 96Â Â Â Â Â Â Â Â Â Â Â Â Â SAUDI ARABIA INDUSTRIAL REFRIGERATION MARKET BY COMPONENT(KILOTONS) 2020-2029
TABLE 97Â Â Â Â Â Â Â Â Â Â Â Â Â SAUDI ARABIA INDUSTRIAL REFRIGERATION MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 98Â Â Â Â Â Â Â Â Â Â Â Â Â SAUDI ARABIA INDUSTRIAL REFRIGERATION MARKET BY APPLICATION (KILOTONS) 2020-2029
TABLE 99Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH AFRICA INDUSTRIAL REFRIGERATION MARKET BY COMPONENT (USD MILLIONS) 2020-2029
TABLE 100Â Â Â Â Â Â Â Â Â Â Â SOUTH AFRICA INDUSTRIAL REFRIGERATION MARKET BY COMPONENT(KILOTONS) 2020-2029
TABLE 101Â Â Â Â Â Â Â Â Â Â Â SOUTH AFRICA INDUSTRIAL REFRIGERATION MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 102Â Â Â Â Â Â Â Â Â Â Â SOUTH AFRICA INDUSTRIAL REFRIGERATION MARKET BY APPLICATION (KILOTONS) 2020-2029
TABLE 103Â Â Â Â Â Â Â Â Â Â Â REST OF MIDDLE EAST AND AFRICA INDUSTRIAL REFRIGERATION MARKET BY COMPONENT (USD MILLIONS) 2020-2029
TABLE 104Â Â Â Â Â Â Â Â Â Â Â REST OF MIDDLE EAST AND AFRICA INDUSTRIAL REFRIGERATION MARKET BY COMPONENT(KILOTONS) 2020-2029
TABLE 105Â Â Â Â Â Â Â Â Â Â Â REST OF MIDDLE EAST AND AFRICA INDUSTRIAL REFRIGERATION MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 106Â Â Â Â Â Â Â Â Â Â Â REST OF MIDDLE EAST AND AFRICA INDUSTRIAL REFRIGERATION MARKET BY APPLICATION (KILOTONS) 2020-2029
LIST OF FIGURES
FIGURE 1Â Â Â Â Â Â Â Â Â Â Â Â MARKET DYNAMICS
FIGURE 2Â Â Â Â Â Â Â Â Â Â Â Â MARKET SEGMENTATION
FIGURE 3Â Â Â Â Â Â Â Â Â Â Â Â REPORT TIMELINES: YEARS CONSIDERED
FIGURE 4Â Â Â Â Â Â Â Â Â Â Â Â DATA TRIANGULATION
FIGURE 5Â Â Â Â Â Â Â Â Â Â Â Â BOTTOM-UP APPROACH
FIGURE 6Â Â Â Â Â Â Â Â Â Â Â Â TOP-DOWN APPROACH
FIGURE 7Â Â Â Â Â Â Â Â Â Â Â Â RESEARCH FLOW
FIGURE 8Â Â Â Â Â Â Â Â Â Â Â Â GLOBAL INDUSTRIAL REFRIGERATION MARKET BY COMPONENT, USD MILLION, 2020-2029
FIGURE 9Â Â Â Â Â Â Â Â Â Â Â Â GLOBAL INDUSTRIAL REFRIGERATION MARKET BY APPLICATION, USD MILLION, 2020-2029
FIGURE 10Â Â Â Â Â Â Â Â Â Â GLOBAL INDUSTRIAL REFRIGERATION MARKET BY REGION, USD MILLION, 2020-2029
FIGURE 11          PORTER’S FIVE FORCES MODEL
FIGURE 12Â Â Â Â Â Â Â Â Â Â NORTH AMERICA INDUSTRIAL REFRIGERATION MARKET SNAPSHOT
FIGURE 13Â Â Â Â Â Â Â Â Â Â EUROPE INDUSTRIAL REFRIGERATION MARKET SNAPSHOT
FIGURE 14Â Â Â Â Â Â Â Â Â Â SOUTH AMERICA INDUSTRIAL REFRIGERATION MARKET SNAPSHOT
FIGURE 15Â Â Â Â Â Â Â Â Â Â ASIA PACIFIC INDUSTRIAL REFRIGERATION MARKET SNAPSHOT
FIGURE 16Â Â Â Â Â Â Â Â Â Â MIDDLE EAST ASIA AND AFRICA INDUSTRIAL REFRIGERATION MARKET SNAPSHOT
FIGURE 17Â Â Â Â Â Â Â Â Â Â MARKET SHARE ANALYSIS
FIGURE 18Â Â Â Â Â Â Â Â Â Â CARRIER: COMPANY SNAPSHOT
FIGURE 19Â Â Â Â Â Â Â Â Â Â DAIKIN INDUSTRIES: COMPANY SNAPSHOT
FIGURE 20Â Â Â Â Â Â Â Â Â Â DANFOSS GROUP: COMPANY SNAPSHOT
FIGURE 21Â Â Â Â Â Â Â Â Â Â EMERSON ELECTRIC CO.: COMPANY SNAPSHOT
FIGURE 22Â Â Â Â Â Â Â Â Â Â EVAPCO: COMPANY SNAPSHOT
FIGURE 23Â Â Â Â Â Â Â Â Â Â GEA GROUP AG: COMPANY SNAPSHOT
FIGURE 24Â Â Â Â Â Â Â Â Â Â JOHNSON CONTROLS: COMPANY SNAPSHOT
FIGURE 25Â Â Â Â Â Â Â Â Â Â INGERSOLL RAND: COMPANY SNAPSHOT
FIGURE 26Â Â Â Â Â Â Â Â Â Â LU-VE GROUP: COMPANY SNAPSHOT
FIGURE 27Â Â Â Â Â Â Â Â Â Â MAYEKAWA MFG. CO. LTD: COMPANY SNAPSHOT
FAQ
The industrial refrigeration market size had crossed USD 19.4 billion in 2020 and will observe a CAGR of more than 5.3 % up to 2029 driven by the growth of the industrial refrigeration market include rising demand for innovative and compact refrigeration systems, increased government support to strengthen cold chain infrastructure in developing countries, and a growing preference for environmentally friendly refrigerant-based refrigeration systems.
Asia Pacific held more than 30% of the industrial refrigeration market revenue share in 2020 and will witness expansion with the burgeoning pharmaceutical industry, as well as government subsidies for enhancing cold chain and preservation facilities.
Factors such as rising demand for innovative and compact refrigeration systems, increased government support to strengthen cold chain infrastructure in developing countries, and a growing preference for environmentally friendly refrigerant-based refrigeration systems due to stringent regulatory policies are all contributing to this trend.
Chemical and petrochemical processes, notably the handling and processing of commodities like oil, gas, and other chemical compounds, are exceedingly difficult. To manufacture the final product, several procedures and operations in these applications necessitate the removal of heat and refrigeration.
The region’s largest share is in Asia Pacific. The growth is attributed to the government incentives for improving cold chain and preservation facilities, as well as a rising pharmaceutical industry.
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