industrial refrigeration Systems market is anticipated to grow at a CAGR of 4.2% during the forecast period (2023-2030).The vapor-compression refrigeration is the most widely used cycle for refrigerators, air- conditioners, and heat pumps.The growing adoption of technological advancement in compressors, condensers, and evaporators is the key factor supporting the growth of the market globally. The high demand for refrigeration in end-user industries is a key factor driving the growth of the global market. Foodservice organizations that need to meet strict environmental standards should consider the Eco-Cool series of industrial refrigeration systems. This system was designed with environmental responsibility in mind. The headlining feature is the digital scroll compressor system, thatenables the Eco-Cool to use one digital scroll compressor instead of multiple conventional compressors. To meet this demand, in March 2023, Tecumseh products Company is expanding its TC Series compressor platform to include models with Propane R-290 refrigerant for the Indian market. The new TC compressor models, ranging from 3cc to 8cc, are optimized for L/MBP applications and utilise R-290 natural refrigerant.
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The global industrial refrigeration systems market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America. Among these, North America is anticipated to hold a prominent share of the market across the globe, owing to an increase in trends, such as variable capacity compressors and the usage of natural refrigerants. The key market players include Emerson Electric Co., EVAPCO, Inc., Baltimore Aircoil Company, Lennox International Inc., Parker Hannifin Corp., Innovative Refrigeration System, and others.
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- Market Coverage
- Market number available for – 2024-2030
- Base year- 2023
- Forecast period- 2024-2030
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Industrial Refrigeration Systems Market by Component
- Compressors
- Condensers
- Evaporators
- Controls
- Others (Capillary tube, Condensers coils)
Global Industrial Refrigeration Systems Market by Capacity
- Less than 100kW
- 100-500kW
- 500-1000kW
- 1000-5000kW
- More than 5000kW
Global Industrial Refrigeration Systems Market by Application
- Refrigerated Warehouse
- Food & Beverage
- Chemical Petrochemical & Pharmaceuticals
- Refrigerated Transportation
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- BITZER Kühlmaschinenbau GmbH
- Danfoss
- Dover Corp.
- EVAPCO, Inc.
- GEA Group AG
- Guntner GmbH & Co. KG
- Industrial Frigo S.R.L
- Ingersoll Rand Plc.
- Innovative Refrigeration Systems
- Lennox International Inc.
- LU-VE S.p.A
- Mayekawa Mfg. Co., Ltd.
- Parker Hannifin Corp.
- Star Refrigeration Ltd.
- United Technologies Corp.
The Report Covers
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global industrial refrigeration systems market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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