Global Industrial Refrigeration System Market Overview

Global Industrial Refrigeration System Market was valued at USD 20.21 Billion in 2021 and is expected to reach USD 26.96 Billion by the year 2028, at a CAGR of 4.2%.

Refrigeration is utilized to remove excess heat from a substance. The modern industrial processes in the various end-use sectors such as food and chemicals are managed by accurate process conditions and temperature is an important parameter in any process. The industrial refrigeration system has a prominent role in maintaining the stability of the overall industrial process and directly influence the quality of the end product. Additionally, refrigeration act as a major role in industry and society. As freezing inhibits microbiological growth, decreasing chemical reactions and delaying physical transformations, it is possible to preserve food, maintaining its quality without wasting, during long storage periods. This capacity is essential for the increasingly demanding modern society. Furthermore, energy can neither be created nor be destroyed and it is transformable from one form to another. Heat is a form of energy that travels owing to the difference in temperature. It transfers from the warmer to the cooler object. There are different refrigerants which are chemicals that are precipitated into the liquid form. They extend into vapor and extract the heat from the surrounding area. The required thing is that the system should be closed. Once the heat is eliminated then the temperature falls. In the case of an industrial system, it can be thought of as a system utilize to eliminate the heat from any Process or Substance.

Moreover, regarding the technological exposure, and contrarily to the heating, ventilation, and air conditioning (HVAC) systems where thermal plants are usually factory-assembled packages, industrial refrigeration systems are commonly built-up, owing to the enormous variety of installations and their operating conditions, offering diverse technical challenges to the mechanical engineer. It will also be an opportunity to deepen the knowledge on utilized thermodynamics, for cycles, which will certainly lead to a proficient lecturing and/or vocational training performance. Amidst the COVID-19 pandemic, the global market for Industrial Refrigeration Systems projected at US$19.4 Billion in the year 2020, is estimated to gain a revised size of US$25.9 Billion by 2027, during the analysis period.

COVID-19 Impact on Industrial Refrigeration System Market

The market has been poorly affected due to the COVID-19 crisis. The majority of industrial operations were shut down over various parts of the world to contain the spread of the virus. Further, consumers' preferences for home-cooked products have led to a significant fall in the demand for processed food. Additionally, interruptions in the supply chain further restrained the industrial refrigeration system market growth. The industrial refrigeration system components produced by some companies' companies are purchased by different stakeholders for various end-use. Furthermore, COVID-19 has influenced the operations of the various industrial refrigeration manufacturers companies, along with businesses of their suppliers and distributors. The fall in export shipments, slow down in projects, and decline domestic demand industrial refrigeration system in comparison to pre COVID-19 levels is also anticipated to negatively impact and slightly stagnate the demand for the industrial refrigeration system market in short term. Nevertheless, the demand for essential items continued to grow during the pandemic. Panic buying of food products has positively influenced the market growth initially. In addition, the requirement for refrigeration systems has observed a surge from the pharmaceutical industry. This trend is expected to continue due to ongoing clinical trials and increased demand for medicine.

Market Dynamics and Factors for the Industrial Refrigeration System Market:

Drivers:

The development in demand for industrial refrigeration systems in the FMCG industry majorly drives the growth of the market, due to increased usage of packaged & processed food & beverages in the emerging economies and prevention of spoilage of semi-processed food & drinks. The government of India has been significant in the growth and development of the food processing industry which accounts for 32% of the country's total food market. In addition, the Ministry of Food Processing Industries (MoFPI) is making all efforts to motivate investments in the business also it has approved proposals for joint ventures (JV), foreign collaborations, industrial licenses, and 100% export-oriented units. According to IBEF (India Brand Equity Foundation) 2019 report, Amazon, a global e-commerce giant, is planning to penetrate the Indian food retailing sector by investing USD 515 million in the next five years.

Furthermore, the growing trend of innovations in cold storage infrastructures across emerging countries drives the growth of the industrial refrigeration system market. In developing economies, food wastage is one of the major reasons for the scarcity of food. India is among the top manufacturer of food products and other perishable goods, including fruits, milk products, and vegetables. Thus, the inadequate cold chain infrastructure is the primary cause of food wastage and food loss. The shelf life of fruits, vegetables, fish, and dairy products declines adequately owing to factors such as insufficient infrastructure, improper handling, no access to cold chains, a dearth of energy resources to power these cold chain facilities, and so on. Hence, some emerging economies, such as China and India, have started adopting developed refrigeration systems across cold storage and cold chain infrastructure to ensure uninterrupted temperature-controlled transport and storage of perishable food products, medicines, and pharmaceuticals, beverages, chemicals, among others.

Restraints:

Massive energy utilization for operation and high investment in maintenance of industrial refrigeration systems restraint the growth of the industrial refrigeration system market over the forecast period. Industrial refrigeration system typically has a high installation cost due to the huge cost of their components, including compressors, condensers, and evaporators. In addition, the control systems used in these refrigeration systems are expensive, which increases the installation cost. Furthermore, during the COVID-19 pandemic, construction, manufacturing, hotel, and tourism industries were majorly impacted. Manufacturing activities were also terminated or restricted to a massive extent. Construction and transportation activities, along with their supply chains hindered on a global level. This led to a decline in the manufacturing of refrigeration systems, which directly hampers the industrial refrigeration system market.

Opportunities:

Growth Opportunity in the Oil and Gas Sector

The refrigerating systems are crucial elements of the gas and oil manufacturing industry. There are utilized in several processes starting from the extraction of natural gas and oil from the reservoir rocks in the form of crude oil and natural gas to the transportation to end consumers. Refrigeration plants can be very profitable pieces of equipment that cool natural gas to approximately -162 F and change it to a liquid form (natural gas liquids) that can be easily stored and transported through pipelines. According to the International Association of Oil & Gas Producers (IOGP's) Global Production report 2019, demand for oil and gas is at its peak, higher than ever before, with dramatic growth in Africa, Asia Pacific, the Middle East, and the Americas. This has triggered the investment in the exploration and production of oil to accomplish the demand and supply. For instance, in 2019, Ecopetrol and Occidental Petroleum Corp accepted to form a joint venture for the development of unconventional reservoirs in approximately 97,000 acres of the Permian Basin in the State of Texas.

Market Segmentation

Segmentation Analysis of Industrial Refrigeration System Market:

Based on the Component, the compressor segment is expected to register the maximum industrial refrigeration system market share during the forecast period. The development of the compressors segment is attributed to features such as cost-effectiveness and heavy-duty design that supports longevity and durability. Furthermore, compressors offer multiple forces, including consistent and efficient motive force, for smoother operations in production. These forces work as the backbone of most of the operations, such as the push in stamping, air spent in the performance of the machine, and others. Moreover, technological developments and R&D investments have helped to the development of energy-efficient compressors that significantly overcome the energy utilization of industrial refrigerators. The ability of compressors to consistently maintain a low temperature in industrial refrigerators is also contributing to their growing market penetration

Based on the Refrigerant Type, the carbon dioxide segment is anticipating to dominate the industrial refrigeration system market during the forecast period. The increased utilization of natural refrigerants, such as Carbon dioxide (CO2), Ammonia (NH3), and others, have helped to overcome the emission of harmful gases that contribute to global warming. The major factor for the market's growth is the increasing popularity of carbon dioxide cascade refrigeration systems in various applications. Carbon dioxide is huge and stays in the atmosphere for a longer time. Large carbon dioxide-based industrial refrigeration systems are cheaper cost to build than their glycol counterparts; therefore, the initial and life cycle costs of carbon dioxide-based industrial refrigeration systems are comparatively low. Additionally, carbon dioxide has other beneficial characteristics, such as no toxicity, no flammability, high heat transfer, high refrigeration volumetric capacity, and negligible GWP.

Based on Application, the food and beverages segment is projected to dominate the industrial refrigeration system market over the estimated period. The growing utilization of packaged food and expansion of retail food chains globally are anticipated to drive the growth of this segment. Meanwhile, the refrigerated warehouse segment is expected to face considerable growth over the forecast period owing to the increasing population and rising demand for frozen food. Moreover, the adoption of industrial refrigeration cabinets, counters, and vertical freezers is rising rapidly in hypermarkets, supermarkets, and convenience stores, aiding the market statistics. In addition, rising import and export activities in the food & beverage industry are offering a positive outlook to the industry. The high demand for storage and preservation of food items to be exported over international borders is driving the industrial refrigeration system market development.

Regional Analysis of Industrial Refrigeration System Market:

The North American region is expected to dominate the industrial refrigeration system market over the forecast period. Growing demand for fresh food, beverages, and medicines is a key factor anticipated to accelerate the growth of the market in the region over the forecast period. Additionally, technological advancement, convenience, and aggressive marketing of frozen foods in several varieties, including skillet and oven meal kits, restaurant-quality pizza, bowl meals by food manufacturers which will turn the demand in the coming years. Stimulating research and clinical testing to halt the spread of COVID-19 over North America is also turning the growth of the industrial refrigeration system market in the pharmaceutical industry. Furthermore, companies are introducing the latest models of energy-efficient compressors. For instance, in January 2020, Emerson introduced its latest product line of fixed-speed scroll compressors, Copeland, for commercial and industrial refrigeration applications. The Copeland range of scroll compressors is optimized for low GWP refrigerants that help the company to accomplish energy efficiency standards and regulations built up by the Department of Energy (DOE) and California Air Resources Board. Emerson plans to introduce the full lineup of its 6–40-ton compressors by 2022.

Asia Pacific Region is projected to register the significant growth of the industrial refrigeration system market throughout the period. Due to the huge population density and the rising income level with the growing demand for packaged foods this region has the highest market share. In addition, governments of various countries in APAC support the Montreal Protocol initiative to phase out environmentally harmful refrigerants, thereby offering lucrative opportunities for the players providing natural refrigerant-based refrigeration systems. Therefore, government initiatives to further strengthen cold chain management systems are anticipated to be the major driver for the growth of industrial refrigeration systems in the APAC region.

Demand for frozen food items is provoking the adoption of the industrial refrigeration system. In addition, the growing number of large stores has compelled small restaurants and unorganized grocery retail stores to upgrade with the latest electronic appliances including refrigeration equipment. These features are boosting the growth of the Latin American industrial refrigeration system market. Further, the trend of ready-to-eat food is providing huge demand from food outlets and new restaurants in the region. This, in turn, will help the development of the Latin American industrial refrigeration system market in near future.

Players Covered in Industrial Refrigeration System market are :

  • Star Refrigeration (Scotland)
  •  Daikin Industries Ltd. (Japan)
  •  Emerson Electric Co. (US)
  •  Danfoss A/S (Denmark)
  •  GEA Group Aktiengesellschaft (Germany)
  •  Danfoss (Denmark)
  •  Mayekawa (Japan)
  •  Daikin (Japan)
  •  Ingersoll Rand (Ireland)
  •  EVAPCO
  •  Inc. (the US)
  •  Johnson Controls (Ireland)
  •  LU-VE Group (Italy)
  •  MTA S.p.A. (Italy)
  •  Frascold (Italy)
  •  HITEMA INTERNATIONAL (Italy)
  •  Güntner GmbH & Co. KG (Germany)
  •  KOBELCO (Japan)
  •  Innovative Refrigeration Systems (US)
  •  Parker Hannifin (US)
  •  Lennox International (US)
  •  Clauger (France)
  •  Rivacold (Italy)
  •  Dorin S.p.A. (Italy)
  •  Industrial Frigo (Lombardy)
  •  BITZER Kuhlmaschinenbau GmbH (Germany)
  •  Carnot Refrigeration (Canada)
  •   SRM Italy (Italy)
  •  Mayekawa Mfg. Co. Ltd. (Japan)
  •  Baltimore Aircoil Company (US)  and others major key players.

Key Industry Developments In Industrial Refrigeration System Market

  • In October 2020, Mayekawa introduced the latest control panel in the MYCOM group, the MyCore RC-100 control panel for reciprocating and mini-screw compressors.
  • In March 2021, Emerson Electric Co. introduced a range of two-way and three-way solenoid valves that support original equipment manufacturers (OEMs) require to design more compact machines and equipment without compromising fluid control performance. ASCO™ Series 256/356 provide a smaller footprint, up to 40% reduced power utilization, and up to 30% higher pressure ratings.
  • In June 2021, Johnson Controls introduced the Quantech QWC4 Water-Cooled Screw Chiller to its product portfolio, which uses variable speed drive technology to overcome carbon emissions and provide flexibility in handling high-lift applications. The Quantech QWC4 chiller also decreases environmental impacts by directly managing refrigerant charges and potential leak points.
  • In February 2021, Emerson Electric Co. launched its Lumity supervisory control platform, a next-generation control platform for complete refrigeration and facility management. The latest platform offers visual store management and robust control of refrigeration systems and buildings.

Global Industrial Refrigeration System Market

Base Year:

2021

Forecast Period:

2022-2028

Historical Data:

2016 to 2020

Market Size in 2021:

USD 20.21 Bn.

Forecast Period 2022-28 CAGR:

4.2%

Market Size in 2028:

USD 26.96 Bn.

Segments Covered:

By Component

  • Compressor
  • Condenser
  • Evaporator
  • Expansion Valves
  • Others

By Application

  • Food & Beverage
  • Petrochemicals & Pharmaceuticals
  • Electricity Production
  • Refrigerated Warehouse
  • Refrigerated Transportation
  • Others

By Refrigerant Type

  • Ammonia
  • Hydrofluorocarbon (HFC)
  • Carbon Dioxide
  • Others

By Region

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
  • Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
  • South America (Brazil, Argentina, Rest of SA)

Key Market Drivers:

  • Growing Demand for Industrial Refrigeration System in the FMCG industry

Key Market Restraints:

  • Massive Energy Utilization for Operation

Key Opportunities:

  • Opportunity in the Oil and Gas Sector

Companies Covered in the report:

  • Star Refrigeration (Scotland), Daikin Industries Ltd. (Japan), Emerson Electric Co. (US), Danfoss A/S (Denmark), GEA Group Aktiengesellschaft (Germany), and Other Major Players

Chapter 1: Introduction
 1.1 Research Objectives
 1.2 Research Methodology
 1.3 Research Process
 1.4 Scope and Coverage
  1.4.1 Market Definition
  1.4.2 Key Questions Answered
 1.5 Market Segmentation

Chapter 2:Executive Summary

Chapter 3:Growth Opportunities By Segment
 3.1 By Component
 3.2 By Application
 3.3 By Refrigerant Type

Chapter 4: Market Landscape
 4.1 Porter's Five Forces Analysis
  4.1.1 Bargaining Power of Supplier
  4.1.2 Threat of New Entrants
  4.1.3 Threat of Substitutes
  4.1.4 Competitive Rivalry
  4.1.5 Bargaining Power Among Buyers
 4.2 Industry Value Chain Analysis
 4.3 Market Dynamics
  4.3.1 Drivers
  4.3.2 Restraints
  4.3.3 Opportunities
  4.5.4 Challenges
 4.4 Pestle Analysis
 4.5 Technological Roadmap
 4.6 Regulatory Landscape
 4.7 SWOT Analysis
 4.8 Price Trend Analysis
 4.9 Patent Analysis
 4.10 Analysis of the Impact of Covid-19
  4.10.1 Impact on the Overall Market
  4.10.2 Impact on the Supply Chain
  4.10.3 Impact on the Key Manufacturers
  4.10.4 Impact on the Pricing

Chapter 5: Industrial Refrigeration System Market by Component
 5.1 Industrial Refrigeration System Market Overview Snapshot and Growth Engine
 5.2 Industrial Refrigeration System Market Overview
 5.3 Compressor
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size (2016-2028F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Compressor: Grographic Segmentation
 5.4 Condenser
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size (2016-2028F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Condenser: Grographic Segmentation
 5.5 Evaporator
  5.5.1 Introduction and Market Overview
  5.5.2 Historic and Forecasted Market Size (2016-2028F)
  5.5.3 Key Market Trends, Growth Factors and Opportunities
  5.5.4 Evaporator: Grographic Segmentation
 5.6 Expansion Valves
  5.6.1 Introduction and Market Overview
  5.6.2 Historic and Forecasted Market Size (2016-2028F)
  5.6.3 Key Market Trends, Growth Factors and Opportunities
  5.6.4 Expansion Valves: Grographic Segmentation
 5.7 Others
  5.7.1 Introduction and Market Overview
  5.7.2 Historic and Forecasted Market Size (2016-2028F)
  5.7.3 Key Market Trends, Growth Factors and Opportunities
  5.7.4 Others: Grographic Segmentation

Chapter 6: Industrial Refrigeration System Market by Application
 6.1 Industrial Refrigeration System Market Overview Snapshot and Growth Engine
 6.2 Industrial Refrigeration System Market Overview
 6.3 Food & Beverage
  6.3.1 Introduction and Market Overview
  6.3.2 Historic and Forecasted Market Size (2016-2028F)
  6.3.3 Key Market Trends, Growth Factors and Opportunities
  6.3.4 Food & Beverage: Grographic Segmentation
 6.4 Petrochemicals & Pharmaceuticals
  6.4.1 Introduction and Market Overview
  6.4.2 Historic and Forecasted Market Size (2016-2028F)
  6.4.3 Key Market Trends, Growth Factors and Opportunities
  6.4.4 Petrochemicals & Pharmaceuticals: Grographic Segmentation
 6.5 Electricity Production
  6.5.1 Introduction and Market Overview
  6.5.2 Historic and Forecasted Market Size (2016-2028F)
  6.5.3 Key Market Trends, Growth Factors and Opportunities
  6.5.4 Electricity Production: Grographic Segmentation
 6.6 Refrigerated Warehouse
  6.6.1 Introduction and Market Overview
  6.6.2 Historic and Forecasted Market Size (2016-2028F)
  6.6.3 Key Market Trends, Growth Factors and Opportunities
  6.6.4 Refrigerated Warehouse: Grographic Segmentation
 6.7 Refrigerated Transportation
  6.7.1 Introduction and Market Overview
  6.7.2 Historic and Forecasted Market Size (2016-2028F)
  6.7.3 Key Market Trends, Growth Factors and Opportunities
  6.7.4 Refrigerated Transportation: Grographic Segmentation
 6.8 Others
  6.8.1 Introduction and Market Overview
  6.8.2 Historic and Forecasted Market Size (2016-2028F)
  6.8.3 Key Market Trends, Growth Factors and Opportunities
  6.8.4 Others: Grographic Segmentation

Chapter 7: Industrial Refrigeration System Market by Refrigerant Type
 7.1 Industrial Refrigeration System Market Overview Snapshot and Growth Engine
 7.2 Industrial Refrigeration System Market Overview
 7.3 Ammonia
  7.3.1 Introduction and Market Overview
  7.3.2 Historic and Forecasted Market Size (2016-2028F)
  7.3.3 Key Market Trends, Growth Factors and Opportunities
  7.3.4 Ammonia: Grographic Segmentation
 7.4 Hydrofluorocarbon (HFC)
  7.4.1 Introduction and Market Overview
  7.4.2 Historic and Forecasted Market Size (2016-2028F)
  7.4.3 Key Market Trends, Growth Factors and Opportunities
  7.4.4 Hydrofluorocarbon (HFC): Grographic Segmentation
 7.5 Carbon Dioxide
  7.5.1 Introduction and Market Overview
  7.5.2 Historic and Forecasted Market Size (2016-2028F)
  7.5.3 Key Market Trends, Growth Factors and Opportunities
  7.5.4 Carbon Dioxide: Grographic Segmentation
 7.6 Others
  7.6.1 Introduction and Market Overview
  7.6.2 Historic and Forecasted Market Size (2016-2028F)
  7.6.3 Key Market Trends, Growth Factors and Opportunities
  7.6.4 Others: Grographic Segmentation

Chapter 8: Company Profiles and Competitive Analysis
 8.1 Competitive Landscape
  8.1.1 Competitive Positioning
  8.1.2 Industrial Refrigeration System Sales and Market Share By Players
  8.1.3 Industry BCG Matrix
  8.1.4 Ansoff Matrix
  8.1.5 Industrial Refrigeration System Industry Concentration Ratio (CR5 and HHI)
  8.1.6 Top 5 Industrial Refrigeration System Players Market Share
  8.1.7 Mergers and Acquisitions
  8.1.8 Business Strategies By Top Players
 8.2 STAR REFRIGERATION
  8.2.1 Company Overview
  8.2.2 Key Executives
  8.2.3 Company Snapshot
  8.2.4 Operating Business Segments
  8.2.5 Product Portfolio
  8.2.6 Business Performance
  8.2.7 Key Strategic Moves and Recent Developments
  8.2.8 SWOT Analysis
 8.3 DAIKIN INDUSTRIES LTD.
 8.4 EMERSON ELECTRIC CO.
 8.5 DANFOSS A/S
 8.6 GEA GROUP AKTIENGESELLSCHAFT
 8.7 DANFOSS
 8.8 MAYEKAWA
 8.9 DAIKIN
 8.10 INGERSOLL RAND
 8.11 EVAPCO INC.
 8.12 JOHNSON CONTROLS
 8.13 LU-VE GROUP
 8.14 MTA S.P.A.
 8.15 FRASCOLD
 8.16 HITEMA INTERNATIONAL
 8.17 GÜNTNER GMBH & CO. KG
 8.18 KOBELCO
 8.19 INNOVATIVE REFRIGERATION SYSTEMS
 8.20 PARKER HANNIFIN
 8.21 LENNOX INTERNATIONAL
 8.22 CLAUGER
 8.23 RIVACOLD
 8.24 DORIN S.P.A.
 8.25 INDUSTRIAL FRIGO
 8.26 BITZER KUHLMASCHINENBAU GMBH
 8.27 CARNOT REFRIGERATION
 8.28 SRM ITALY
 8.29 MAYEKAWA MFG. CO. LTD.
 8.30 BALTIMORE AIRCOIL COMPANY
 8.31 OTHER MAJOR PLAYERS

Chapter 9: Global Industrial Refrigeration System Market Analysis, Insights and Forecast, 2016-2028
 9.1 Market Overview
 9.2 Historic and Forecasted Market Size By Component
  9.2.1 Compressor
  9.2.2 Condenser
  9.2.3 Evaporator
  9.2.4 Expansion Valves
  9.2.5 Others
 9.3 Historic and Forecasted Market Size By Application
  9.3.1 Food & Beverage
  9.3.2 Petrochemicals & Pharmaceuticals
  9.3.3 Electricity Production
  9.3.4 Refrigerated Warehouse
  9.3.5 Refrigerated Transportation
  9.3.6 Others
 9.4 Historic and Forecasted Market Size By Refrigerant Type
  9.4.1 Ammonia
  9.4.2 Hydrofluorocarbon (HFC)
  9.4.3 Carbon Dioxide
  9.4.4 Others

Chapter 10: North America Industrial Refrigeration System Market Analysis, Insights and Forecast, 2016-2028
 10.1 Key Market Trends, Growth Factors and Opportunities
 10.2 Impact of Covid-19
 10.3 Key Players
 10.4 Key Market Trends, Growth Factors and Opportunities
 10.4 Historic and Forecasted Market Size By Component
  10.4.1 Compressor
  10.4.2 Condenser
  10.4.3 Evaporator
  10.4.4 Expansion Valves
  10.4.5 Others
 10.5 Historic and Forecasted Market Size By Application
  10.5.1 Food & Beverage
  10.5.2 Petrochemicals & Pharmaceuticals
  10.5.3 Electricity Production
  10.5.4 Refrigerated Warehouse
  10.5.5 Refrigerated Transportation
  10.5.6 Others
 10.6 Historic and Forecasted Market Size By Refrigerant Type
  10.6.1 Ammonia
  10.6.2 Hydrofluorocarbon (HFC)
  10.6.3 Carbon Dioxide
  10.6.4 Others
 10.7 Historic and Forecast Market Size by Country
  10.7.1 U.S.
  10.7.2 Canada
  10.7.3 Mexico

Chapter 11: Europe Industrial Refrigeration System Market Analysis, Insights and Forecast, 2016-2028
 11.1 Key Market Trends, Growth Factors and Opportunities
 11.2 Impact of Covid-19
 11.3 Key Players
 11.4 Key Market Trends, Growth Factors and Opportunities
 11.4 Historic and Forecasted Market Size By Component
  11.4.1 Compressor
  11.4.2 Condenser
  11.4.3 Evaporator
  11.4.4 Expansion Valves
  11.4.5 Others
 11.5 Historic and Forecasted Market Size By Application
  11.5.1 Food & Beverage
  11.5.2 Petrochemicals & Pharmaceuticals
  11.5.3 Electricity Production
  11.5.4 Refrigerated Warehouse
  11.5.5 Refrigerated Transportation
  11.5.6 Others
 11.6 Historic and Forecasted Market Size By Refrigerant Type
  11.6.1 Ammonia
  11.6.2 Hydrofluorocarbon (HFC)
  11.6.3 Carbon Dioxide
  11.6.4 Others
 11.7 Historic and Forecast Market Size by Country
  11.7.1 Germany
  11.7.2 U.K.
  11.7.3 France
  11.7.4 Italy
  11.7.5 Russia
  11.7.6 Spain
  11.7.7 Rest of Europe

Chapter 12: Asia-Pacific Industrial Refrigeration System Market Analysis, Insights and Forecast, 2016-2028
 12.1 Key Market Trends, Growth Factors and Opportunities
 12.2 Impact of Covid-19
 12.3 Key Players
 12.4 Key Market Trends, Growth Factors and Opportunities
 12.4 Historic and Forecasted Market Size By Component
  12.4.1 Compressor
  12.4.2 Condenser
  12.4.3 Evaporator
  12.4.4 Expansion Valves
  12.4.5 Others
 12.5 Historic and Forecasted Market Size By Application
  12.5.1 Food & Beverage
  12.5.2 Petrochemicals & Pharmaceuticals
  12.5.3 Electricity Production
  12.5.4 Refrigerated Warehouse
  12.5.5 Refrigerated Transportation
  12.5.6 Others
 12.6 Historic and Forecasted Market Size By Refrigerant Type
  12.6.1 Ammonia
  12.6.2 Hydrofluorocarbon (HFC)
  12.6.3 Carbon Dioxide
  12.6.4 Others
 12.7 Historic and Forecast Market Size by Country
  12.7.1 China
  12.7.2 India
  12.7.3 Japan
  12.7.4 Singapore
  12.7.5 Australia
  12.7.6 New Zealand
  12.7.7 Rest of APAC

Chapter 13: Middle East & Africa Industrial Refrigeration System Market Analysis, Insights and Forecast, 2016-2028
 13.1 Key Market Trends, Growth Factors and Opportunities
 13.2 Impact of Covid-19
 13.3 Key Players
 13.4 Key Market Trends, Growth Factors and Opportunities
 13.4 Historic and Forecasted Market Size By Component
  13.4.1 Compressor
  13.4.2 Condenser
  13.4.3 Evaporator
  13.4.4 Expansion Valves
  13.4.5 Others
 13.5 Historic and Forecasted Market Size By Application
  13.5.1 Food & Beverage
  13.5.2 Petrochemicals & Pharmaceuticals
  13.5.3 Electricity Production
  13.5.4 Refrigerated Warehouse
  13.5.5 Refrigerated Transportation
  13.5.6 Others
 13.6 Historic and Forecasted Market Size By Refrigerant Type
  13.6.1 Ammonia
  13.6.2 Hydrofluorocarbon (HFC)
  13.6.3 Carbon Dioxide
  13.6.4 Others
 13.7 Historic and Forecast Market Size by Country
  13.7.1 Turkey
  13.7.2 Saudi Arabia
  13.7.3 Iran
  13.7.4 UAE
  13.7.5 Africa
  13.7.6 Rest of MEA

Chapter 14: South America Industrial Refrigeration System Market Analysis, Insights and Forecast, 2016-2028
 14.1 Key Market Trends, Growth Factors and Opportunities
 14.2 Impact of Covid-19
 14.3 Key Players
 14.4 Key Market Trends, Growth Factors and Opportunities
 14.4 Historic and Forecasted Market Size By Component
  14.4.1 Compressor
  14.4.2 Condenser
  14.4.3 Evaporator
  14.4.4 Expansion Valves
  14.4.5 Others
 14.5 Historic and Forecasted Market Size By Application
  14.5.1 Food & Beverage
  14.5.2 Petrochemicals & Pharmaceuticals
  14.5.3 Electricity Production
  14.5.4 Refrigerated Warehouse
  14.5.5 Refrigerated Transportation
  14.5.6 Others
 14.6 Historic and Forecasted Market Size By Refrigerant Type
  14.6.1 Ammonia
  14.6.2 Hydrofluorocarbon (HFC)
  14.6.3 Carbon Dioxide
  14.6.4 Others
 14.7 Historic and Forecast Market Size by Country
  14.7.1 Brazil
  14.7.2 Argentina
  14.7.3 Rest of SA

Chapter 15 Investment Analysis

Chapter 16 Analyst Viewpoint and Conclusion

Global Industrial Refrigeration System Market

Base Year:

2021

Forecast Period:

2022-2028

Historical Data:

2016 to 2020

Market Size in 2021:

USD 20.21 Bn.

Forecast Period 2022-28 CAGR:

4.2%

Market Size in 2028:

USD 26.96 Bn.

Segments Covered:

By Component

  • Compressor
  • Condenser
  • Evaporator
  • Expansion Valves
  • Others

By Application

  • Food & Beverage
  • Petrochemicals & Pharmaceuticals
  • Electricity Production
  • Refrigerated Warehouse
  • Refrigerated Transportation
  • Others

By Refrigerant Type

  • Ammonia
  • Hydrofluorocarbon (HFC)
  • Carbon Dioxide
  • Others

By Region

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
  • Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
  • South America (Brazil, Argentina, Rest of SA)

Key Market Drivers:

  • Growing Demand for Industrial Refrigeration System in the FMCG industry

Key Market Restraints:

  • Massive Energy Utilization for Operation

Key Opportunities:

  • Opportunity in the Oil and Gas Sector

Companies Covered in the report:

  • Star Refrigeration (Scotland), Daikin Industries Ltd. (Japan), Emerson Electric Co. (US), Danfoss A/S (Denmark), GEA Group Aktiengesellschaft (Germany), and Other Major Players

LIST OF TABLES

TABLE 001. EXECUTIVE SUMMARY
TABLE 002. INDUSTRIAL REFRIGERATION SYSTEM MARKET BARGAINING POWER OF SUPPLIERS
TABLE 003. INDUSTRIAL REFRIGERATION SYSTEM MARKET BARGAINING POWER OF CUSTOMERS
TABLE 004. INDUSTRIAL REFRIGERATION SYSTEM MARKET COMPETITIVE RIVALRY
TABLE 005. INDUSTRIAL REFRIGERATION SYSTEM MARKET THREAT OF NEW ENTRANTS
TABLE 006. INDUSTRIAL REFRIGERATION SYSTEM MARKET THREAT OF SUBSTITUTES
TABLE 007. INDUSTRIAL REFRIGERATION SYSTEM MARKET BY COMPONENT
TABLE 008. COMPRESSOR MARKET OVERVIEW (2016-2028)
TABLE 009. CONDENSER MARKET OVERVIEW (2016-2028)
TABLE 010. EVAPORATOR MARKET OVERVIEW (2016-2028)
TABLE 011. EXPANSION VALVES MARKET OVERVIEW (2016-2028)
TABLE 012. OTHERS MARKET OVERVIEW (2016-2028)
TABLE 013. INDUSTRIAL REFRIGERATION SYSTEM MARKET BY APPLICATION
TABLE 014. FOOD & BEVERAGE MARKET OVERVIEW (2016-2028)
TABLE 015. PETROCHEMICALS & PHARMACEUTICALS MARKET OVERVIEW (2016-2028)
TABLE 016. ELECTRICITY PRODUCTION MARKET OVERVIEW (2016-2028)
TABLE 017. REFRIGERATED WAREHOUSE MARKET OVERVIEW (2016-2028)
TABLE 018. REFRIGERATED TRANSPORTATION MARKET OVERVIEW (2016-2028)
TABLE 019. OTHERS MARKET OVERVIEW (2016-2028)
TABLE 020. INDUSTRIAL REFRIGERATION SYSTEM MARKET BY REFRIGERANT TYPE
TABLE 021. AMMONIA MARKET OVERVIEW (2016-2028)
TABLE 022. HYDROFLUOROCARBON (HFC) MARKET OVERVIEW (2016-2028)
TABLE 023. CARBON DIOXIDE MARKET OVERVIEW (2016-2028)
TABLE 024. OTHERS MARKET OVERVIEW (2016-2028)
TABLE 025. NORTH AMERICA INDUSTRIAL REFRIGERATION SYSTEM MARKET, BY COMPONENT (2016-2028)
TABLE 026. NORTH AMERICA INDUSTRIAL REFRIGERATION SYSTEM MARKET, BY APPLICATION (2016-2028)
TABLE 027. NORTH AMERICA INDUSTRIAL REFRIGERATION SYSTEM MARKET, BY REFRIGERANT TYPE (2016-2028)
TABLE 028. N INDUSTRIAL REFRIGERATION SYSTEM MARKET, BY COUNTRY (2016-2028)
TABLE 029. EUROPE INDUSTRIAL REFRIGERATION SYSTEM MARKET, BY COMPONENT (2016-2028)
TABLE 030. EUROPE INDUSTRIAL REFRIGERATION SYSTEM MARKET, BY APPLICATION (2016-2028)
TABLE 031. EUROPE INDUSTRIAL REFRIGERATION SYSTEM MARKET, BY REFRIGERANT TYPE (2016-2028)
TABLE 032. INDUSTRIAL REFRIGERATION SYSTEM MARKET, BY COUNTRY (2016-2028)
TABLE 033. ASIA PACIFIC INDUSTRIAL REFRIGERATION SYSTEM MARKET, BY COMPONENT (2016-2028)
TABLE 034. ASIA PACIFIC INDUSTRIAL REFRIGERATION SYSTEM MARKET, BY APPLICATION (2016-2028)
TABLE 035. ASIA PACIFIC INDUSTRIAL REFRIGERATION SYSTEM MARKET, BY REFRIGERANT TYPE (2016-2028)
TABLE 036. INDUSTRIAL REFRIGERATION SYSTEM MARKET, BY COUNTRY (2016-2028)
TABLE 037. MIDDLE EAST & AFRICA INDUSTRIAL REFRIGERATION SYSTEM MARKET, BY COMPONENT (2016-2028)
TABLE 038. MIDDLE EAST & AFRICA INDUSTRIAL REFRIGERATION SYSTEM MARKET, BY APPLICATION (2016-2028)
TABLE 039. MIDDLE EAST & AFRICA INDUSTRIAL REFRIGERATION SYSTEM MARKET, BY REFRIGERANT TYPE (2016-2028)
TABLE 040. INDUSTRIAL REFRIGERATION SYSTEM MARKET, BY COUNTRY (2016-2028)
TABLE 041. SOUTH AMERICA INDUSTRIAL REFRIGERATION SYSTEM MARKET, BY COMPONENT (2016-2028)
TABLE 042. SOUTH AMERICA INDUSTRIAL REFRIGERATION SYSTEM MARKET, BY APPLICATION (2016-2028)
TABLE 043. SOUTH AMERICA INDUSTRIAL REFRIGERATION SYSTEM MARKET, BY REFRIGERANT TYPE (2016-2028)
TABLE 044. INDUSTRIAL REFRIGERATION SYSTEM MARKET, BY COUNTRY (2016-2028)
TABLE 045. STAR REFRIGERATION: SNAPSHOT
TABLE 046. STAR REFRIGERATION: BUSINESS PERFORMANCE
TABLE 047. STAR REFRIGERATION: PRODUCT PORTFOLIO
TABLE 048. STAR REFRIGERATION: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 048. DAIKIN INDUSTRIES LTD.: SNAPSHOT
TABLE 049. DAIKIN INDUSTRIES LTD.: BUSINESS PERFORMANCE
TABLE 050. DAIKIN INDUSTRIES LTD.: PRODUCT PORTFOLIO
TABLE 051. DAIKIN INDUSTRIES LTD.: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 051. EMERSON ELECTRIC CO.: SNAPSHOT
TABLE 052. EMERSON ELECTRIC CO.: BUSINESS PERFORMANCE
TABLE 053. EMERSON ELECTRIC CO.: PRODUCT PORTFOLIO
TABLE 054. EMERSON ELECTRIC CO.: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 054. DANFOSS A/S: SNAPSHOT
TABLE 055. DANFOSS A/S: BUSINESS PERFORMANCE
TABLE 056. DANFOSS A/S: PRODUCT PORTFOLIO
TABLE 057. DANFOSS A/S: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 057. GEA GROUP AKTIENGESELLSCHAFT: SNAPSHOT
TABLE 058. GEA GROUP AKTIENGESELLSCHAFT: BUSINESS PERFORMANCE
TABLE 059. GEA GROUP AKTIENGESELLSCHAFT: PRODUCT PORTFOLIO
TABLE 060. GEA GROUP AKTIENGESELLSCHAFT: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 060. DANFOSS: SNAPSHOT
TABLE 061. DANFOSS: BUSINESS PERFORMANCE
TABLE 062. DANFOSS: PRODUCT PORTFOLIO
TABLE 063. DANFOSS: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 063. MAYEKAWA: SNAPSHOT
TABLE 064. MAYEKAWA: BUSINESS PERFORMANCE
TABLE 065. MAYEKAWA: PRODUCT PORTFOLIO
TABLE 066. MAYEKAWA: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 066. DAIKIN: SNAPSHOT
TABLE 067. DAIKIN: BUSINESS PERFORMANCE
TABLE 068. DAIKIN: PRODUCT PORTFOLIO
TABLE 069. DAIKIN: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 069. INGERSOLL RAND: SNAPSHOT
TABLE 070. INGERSOLL RAND: BUSINESS PERFORMANCE
TABLE 071. INGERSOLL RAND: PRODUCT PORTFOLIO
TABLE 072. INGERSOLL RAND: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 072. EVAPCO INC.: SNAPSHOT
TABLE 073. EVAPCO INC.: BUSINESS PERFORMANCE
TABLE 074. EVAPCO INC.: PRODUCT PORTFOLIO
TABLE 075. EVAPCO INC.: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 075. JOHNSON CONTROLS: SNAPSHOT
TABLE 076. JOHNSON CONTROLS: BUSINESS PERFORMANCE
TABLE 077. JOHNSON CONTROLS: PRODUCT PORTFOLIO
TABLE 078. JOHNSON CONTROLS: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 078. LU-VE GROUP: SNAPSHOT
TABLE 079. LU-VE GROUP: BUSINESS PERFORMANCE
TABLE 080. LU-VE GROUP: PRODUCT PORTFOLIO
TABLE 081. LU-VE GROUP: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 081. MTA S.P.A.: SNAPSHOT
TABLE 082. MTA S.P.A.: BUSINESS PERFORMANCE
TABLE 083. MTA S.P.A.: PRODUCT PORTFOLIO
TABLE 084. MTA S.P.A.: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 084. FRASCOLD: SNAPSHOT
TABLE 085. FRASCOLD: BUSINESS PERFORMANCE
TABLE 086. FRASCOLD: PRODUCT PORTFOLIO
TABLE 087. FRASCOLD: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 087. HITEMA INTERNATIONAL: SNAPSHOT
TABLE 088. HITEMA INTERNATIONAL: BUSINESS PERFORMANCE
TABLE 089. HITEMA INTERNATIONAL: PRODUCT PORTFOLIO
TABLE 090. HITEMA INTERNATIONAL: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 090. GÜNTNER GMBH & CO. KG: SNAPSHOT
TABLE 091. GÜNTNER GMBH & CO. KG: BUSINESS PERFORMANCE
TABLE 092. GÜNTNER GMBH & CO. KG: PRODUCT PORTFOLIO
TABLE 093. GÜNTNER GMBH & CO. KG: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 093. KOBELCO: SNAPSHOT
TABLE 094. KOBELCO: BUSINESS PERFORMANCE
TABLE 095. KOBELCO: PRODUCT PORTFOLIO
TABLE 096. KOBELCO: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 096. INNOVATIVE REFRIGERATION SYSTEMS: SNAPSHOT
TABLE 097. INNOVATIVE REFRIGERATION SYSTEMS: BUSINESS PERFORMANCE
TABLE 098. INNOVATIVE REFRIGERATION SYSTEMS: PRODUCT PORTFOLIO
TABLE 099. INNOVATIVE REFRIGERATION SYSTEMS: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 099. PARKER HANNIFIN: SNAPSHOT
TABLE 100. PARKER HANNIFIN: BUSINESS PERFORMANCE
TABLE 101. PARKER HANNIFIN: PRODUCT PORTFOLIO
TABLE 102. PARKER HANNIFIN: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 102. LENNOX INTERNATIONAL: SNAPSHOT
TABLE 103. LENNOX INTERNATIONAL: BUSINESS PERFORMANCE
TABLE 104. LENNOX INTERNATIONAL: PRODUCT PORTFOLIO
TABLE 105. LENNOX INTERNATIONAL: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 105. CLAUGER: SNAPSHOT
TABLE 106. CLAUGER: BUSINESS PERFORMANCE
TABLE 107. CLAUGER: PRODUCT PORTFOLIO
TABLE 108. CLAUGER: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 108. RIVACOLD: SNAPSHOT
TABLE 109. RIVACOLD: BUSINESS PERFORMANCE
TABLE 110. RIVACOLD: PRODUCT PORTFOLIO
TABLE 111. RIVACOLD: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 111. DORIN S.P.A.: SNAPSHOT
TABLE 112. DORIN S.P.A.: BUSINESS PERFORMANCE
TABLE 113. DORIN S.P.A.: PRODUCT PORTFOLIO
TABLE 114. DORIN S.P.A.: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 114. INDUSTRIAL FRIGO: SNAPSHOT
TABLE 115. INDUSTRIAL FRIGO: BUSINESS PERFORMANCE
TABLE 116. INDUSTRIAL FRIGO: PRODUCT PORTFOLIO
TABLE 117. INDUSTRIAL FRIGO: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 117. BITZER KUHLMASCHINENBAU GMBH: SNAPSHOT
TABLE 118. BITZER KUHLMASCHINENBAU GMBH: BUSINESS PERFORMANCE
TABLE 119. BITZER KUHLMASCHINENBAU GMBH: PRODUCT PORTFOLIO
TABLE 120. BITZER KUHLMASCHINENBAU GMBH: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 120. CARNOT REFRIGERATION: SNAPSHOT
TABLE 121. CARNOT REFRIGERATION: BUSINESS PERFORMANCE
TABLE 122. CARNOT REFRIGERATION: PRODUCT PORTFOLIO
TABLE 123. CARNOT REFRIGERATION: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 123. SRM ITALY: SNAPSHOT
TABLE 124. SRM ITALY: BUSINESS PERFORMANCE
TABLE 125. SRM ITALY: PRODUCT PORTFOLIO
TABLE 126. SRM ITALY: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 126. MAYEKAWA MFG. CO. LTD.: SNAPSHOT
TABLE 127. MAYEKAWA MFG. CO. LTD.: BUSINESS PERFORMANCE
TABLE 128. MAYEKAWA MFG. CO. LTD.: PRODUCT PORTFOLIO
TABLE 129. MAYEKAWA MFG. CO. LTD.: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 129. BALTIMORE AIRCOIL COMPANY: SNAPSHOT
TABLE 130. BALTIMORE AIRCOIL COMPANY: BUSINESS PERFORMANCE
TABLE 131. BALTIMORE AIRCOIL COMPANY: PRODUCT PORTFOLIO
TABLE 132. BALTIMORE AIRCOIL COMPANY: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 132. OTHER MAJOR PLAYERS: SNAPSHOT
TABLE 133. OTHER MAJOR PLAYERS: BUSINESS PERFORMANCE
TABLE 134. OTHER MAJOR PLAYERS: PRODUCT PORTFOLIO
TABLE 135. OTHER MAJOR PLAYERS: KEY STRATEGIC MOVES AND DEVELOPMENTS

LIST OF FIGURES

FIGURE 001. YEARS CONSIDERED FOR ANALYSIS
FIGURE 002. SCOPE OF THE STUDY
FIGURE 003. INDUSTRIAL REFRIGERATION SYSTEM MARKET OVERVIEW BY REGIONS
FIGURE 004. PORTER'S FIVE FORCES ANALYSIS
FIGURE 005. BARGAINING POWER OF SUPPLIERS
FIGURE 006. COMPETITIVE RIVALRYFIGURE 007. THREAT OF NEW ENTRANTS
FIGURE 008. THREAT OF SUBSTITUTES
FIGURE 009. VALUE CHAIN ANALYSIS
FIGURE 010. PESTLE ANALYSIS
FIGURE 011. INDUSTRIAL REFRIGERATION SYSTEM MARKET OVERVIEW BY COMPONENT
FIGURE 012. COMPRESSOR MARKET OVERVIEW (2016-2028)
FIGURE 013. CONDENSER MARKET OVERVIEW (2016-2028)
FIGURE 014. EVAPORATOR MARKET OVERVIEW (2016-2028)
FIGURE 015. EXPANSION VALVES MARKET OVERVIEW (2016-2028)
FIGURE 016. OTHERS MARKET OVERVIEW (2016-2028)
FIGURE 017. INDUSTRIAL REFRIGERATION SYSTEM MARKET OVERVIEW BY APPLICATION
FIGURE 018. FOOD & BEVERAGE MARKET OVERVIEW (2016-2028)
FIGURE 019. PETROCHEMICALS & PHARMACEUTICALS MARKET OVERVIEW (2016-2028)
FIGURE 020. ELECTRICITY PRODUCTION MARKET OVERVIEW (2016-2028)
FIGURE 021. REFRIGERATED WAREHOUSE MARKET OVERVIEW (2016-2028)
FIGURE 022. REFRIGERATED TRANSPORTATION MARKET OVERVIEW (2016-2028)
FIGURE 023. OTHERS MARKET OVERVIEW (2016-2028)
FIGURE 024. INDUSTRIAL REFRIGERATION SYSTEM MARKET OVERVIEW BY REFRIGERANT TYPE
FIGURE 025. AMMONIA MARKET OVERVIEW (2016-2028)
FIGURE 026. HYDROFLUOROCARBON (HFC) MARKET OVERVIEW (2016-2028)
FIGURE 027. CARBON DIOXIDE MARKET OVERVIEW (2016-2028)
FIGURE 028. OTHERS MARKET OVERVIEW (2016-2028)
FIGURE 029. NORTH AMERICA INDUSTRIAL REFRIGERATION SYSTEM MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 030. EUROPE INDUSTRIAL REFRIGERATION SYSTEM MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 031. ASIA PACIFIC INDUSTRIAL REFRIGERATION SYSTEM MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 032. MIDDLE EAST & AFRICA INDUSTRIAL REFRIGERATION SYSTEM MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 033. SOUTH AMERICA INDUSTRIAL REFRIGERATION SYSTEM MARKET OVERVIEW BY COUNTRY (2016-2028)

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Frequently Asked Questions :

What would be the forecast period in the Industrial Refrigeration System Market research report?

The forecast period in the Industrial Refrigeration System Market research report is 2022-2028.

Who are the key players in Industrial Refrigeration System Market?

Star Refrigeration (Scotland), Daikin Industries Ltd. (Japan), Emerson Electric Co. (US), Danfoss A/S (Denmark), GEA Group Aktiengesellschaft (Germany), Danfoss (Denmark), Mayekawa (Japan), Daikin (Japan), Ingersoll Rand (Ireland), EVAPCO, Inc. (the US), Johnson Controls (Ireland), LU-VE Group (Italy), MTA S.p.A. (Italy), Frascold (Italy), HITEMA INTERNATIONAL (Italy), Güntner GmbH & Co. KG (Germany), KOBELCO (Japan), Innovative Refrigeration Systems (US), Parker Hannifin (US), Lennox International (US), Clauger (France), Rivacold (Italy), Dorin S.p.A. (Italy), Industrial Frigo (Lombardy), BITZER Kuhlmaschinenbau GmbH (Germany), Carnot Refrigeration (Canada),  SRM Italy (Italy), Mayekawa Mfg. Co. Ltd. (Japan), Baltimore Aircoil Company (US), and Other Major Players.

What are the segments of Industrial Refrigeration System Market?

Industrial Refrigeration System Market is segmented into Component, Application, Refrigerant Type and region. By Component, the market is categorized into Hot Cast Elastomer, Cold Cast Elastomer. By Application, the market is categorized into Automotive & Transportation, Agriculture, Industrial, Oil & Gas, Other. By Refrigerant Type, the market is categorized into Online, Offline, Others. By region, it is analysed across North America (U.S.; Canada; Mexico), Europe (Germany; U.K.; France; Italy; Russia; Spain, etc.), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).

What is the Industrial Refrigeration System Market?

Industrial Refrigeration System is referred to as thermosetting, akin to natural and synthetic rubbers. These elastomers are based on either polyether and/or polyesters. Industrial Refrigeration System possess significant physical properties, incorporating abrasion resistance and load-bearing

How big is Industrial Refrigeration System Market?

Global Industrial Refrigeration System Market was valued at USD 20.21 Billion in 2021 and is expected to reach USD 26.96 Billion by the year 2028, at a CAGR of 4.2% .