The global industrial refrigeration system market size was valued at USD 19.5 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 4% from 2021 to 2027. The growing demand for industrial refrigeration systems in the FMCG segment is primarily driving the market growth. This is due to the increased use of processed and packaged foods and beverages in developed and developing countries, as well as preventing spoilage of semi-processed foods and beverages. Moreover, increasing government support to strengthen cold chain infrastructure and increasing demand for small and innovative refrigeration systems are expected to drive demand over the forecast period. In 2020, the market is expected to have a significant impact due to the COVID-19 pandemic. However, the recent lockdown to curb the COVID-19 pandemic has created a trend to buy perishable products online.
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Industrial Refrigeration System Market Segmentation
By Component:
• Compressors
• Condensers
• Evaporators
• Controls
• Vessels, Pumps, Valves, And Auxiliary Equipment
By Refrigerant Type:
• Ammonia
• Carbon Dioxide
• Others (Hfcs, Hcfcs, Hcs, Hfos)
By Application:
• Refrigerated Warehouse
• Fruit & Vegetable Processing
• Beverage
• Meat, Poultry, & Fish Processing
• Dairy And Ice-Cream Processing
• Chemical, Petrochemical, & Pharmaceutical
• Refrigerated Transportation
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(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
