Market key players include Carrier, Daikin Industries, Ltd., Danfoss Group, Emerson Electric Co., Evapco, Inc., GEA Group AG, Johnson Controls, Ingersoll Rand
According to a Comprehensive Research Report by Exactitude Consultancy, “Industrial Refrigeration Market by Component (Controls, Compressor, Condenser, Evaporator), Application (Chemical & Petrochemicals, Fruit & Vegetable Processing, Refrigerated Warehouse) and Region, Global trends and forecast from 2022 to 2029”, 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.
The market for industrial refrigeration systems is expected to grow as a result of several factors, including the growing need for compact and innovative refrigeration systems, increased government support for building out the cold chain infrastructure in developing nations, and stricter regulatory policies that are pushing consumers toward eco-friendly refrigerant-based refrigeration systems.
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Recent Developments
In June 2021, Johnson Controls added the Quantech QWC4 Water-Cooled Screw Chiller to its product portfolio, which uses variable speed drive technology to reduce carbon emissions and provide flexibility in handling high-lift applications. The Quantech QWC4 chiller also reduces environmental impacts by directly managing refrigerant charges and potential leak points.
In June 2021, GEA Group Aktiengesellschaft signed an agreement to sell its refrigeration contracting operations in Spain and Italy to Clauger, the French family-owned company, which specializes in industrial refrigeration and air-conditioning systems.
In May 2021, Johnson Controls selected R-454B, a lower GWP refrigerant, to replace R-410A in its ducted residential and commercial unitary products as well as air-cooled scroll chillers. R-454B is more compatible with existing R-410A equipment designs, requires a lesser or similar refrigerant charge, and can reduce the energy use of HVAC systems and improve system efficiency.
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✔ A summary of the research work.
✔ Table of Contents The study’s depth of coverage
✔ Market participants at the forefront
✔ The research framework of the report’s structure
✔ Exactitude Consultancy’ research methodology
Industrial Refrigeration Market Market Competitive Landscape:
The major vendors in the Industrial Refrigeration Market industry are
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
Some points on how the report benefits stakeholders:
The Industrial Refrigeration Market Market reports include historical (2018–2020) and forecast (2022–2029) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2029.
The Industrial Refrigeration Market Industry report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
The report contains company profiles of the top companies operating in the Industrial Refrigeration Market market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
Industrial Refrigeration Market Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
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What are the market factors explained in the report?
Key Strategic Developments: The study includes key strategic developments of the Industrial Refrigeration Market, comprising R&D, new product launch, mergers and acquisitions, agreements, partnerships, collaborations, joint ventures, and regional growth of key competitors operating in the market globally and region.
Key Market Features: The report analyzed key market features including price, revenue, capacity, supply/demand, capacity utilization rate, gross production, production rate, market share, consumption, import/export, cost, CAGR and gross margin. Furthermore, the report also offers a comprehensive study of the key Industrial Refrigeration Market dynamics and its latest trends, along with relevant market segments and sub-segments.
Analytical Tools: The Global Outsourced Industrial Refrigeration Market report includes accurately researched and analyzed data on the key industry players and their scope in the market through various analytical tools. Analytical tools such as Porter's five forces analysis, feasibility study, and ROI analysis have been used to analyze the growth of the key players operating in the market.
Regional Analysis
The Industrial Refrigeration Market market by region includes Asia-Pacific (APAC), North America, 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 the Rest of MEA
Frequently Asked Questions
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