Industrial Refrigeration Equipment Market Estimated to Expand at a Robust CAGR over 2025

Industrial refrigeration system is used in industries for food and beverage processing, chemical processing and cold storage warehousing, which require temperature controlled handling of finished goods, raw materials and in-process material. These products have a high demand from food processing, process cooling, and beverage production and HVAC (Heating, Ventilation and Air conditioning) applications. Moreover, some of the leading industrial compressor manufacturers have developed variable speed drive technology for enhancement in Eco design product. Variable speed drive technology is a piece of equipment that controls the rotational force and speed, the torque output of an industrial refrigeration motors. The company has developed various types of compressor such as oil injection variety compressor and compact rotatory screw compressor that consume less power compared to the conservative load type compressor of equal capacity. It is anticipated that the reduction in thermal resistance of heat exchanger is increasing the output and power effectiveness of industrialized heat exchangers in the chemicals and energy sector.

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Industrial Refrigeration Equipment Market: Dynamics:

The global Industrial Refrigeration Equipment Market is predominantly driven by rising number of food and beverages, chemicals and pharmaceuticals industry through the globe. Acceptance of natural refrigerant, growing processed food business, focus towards energy efficiency in the developed countries.

Storage and preservation of frozen food, beverages, dairy items and confectioneries in warehouses exists as a market driver for Industrial Refrigeration Systems. Moreover, research and new product development including clinical trials and preservation of samples in the pharmaceutical industry is expected to be an emerging cause for the growth of the industrial refrigeration system market in the forecast period.

Rising fuel costs are considered as the main restraint which might hamper the growth of global Industrial Refrigeration Equipment Market.

In terms of market trends, the manufacturers in the industrial refrigeration equipment market are focusing on eco-design products with higher chilling efficiency. Merging of warehouses and growth of cold chains is probable to disclose new avenues for the global Industrial Refrigeration Equipment market over the forecast period.

Industrial Refrigeration Equipment Market: Segmentation:

The segmentation of the global Industrial Equipment Market is following:

The global Industrial Refrigeration Equipment Market can be segmented by Equipment:

  • Compressor
  • Condenser
  • Evaporative
  • Controls

The global Industrial Refrigeration Equipment Market can be segmented by Refrigerant type:

  • HFCS
  • Ammonia
  • CO2
  • Other Refrigerant

The global Industrial Refrigeration Equipment Market can be segmented by Application:

  • Food Processing
  • Beverage production
  • Chemicals and Petro-chemicals
  • Pharmaceuticals
  • Energy Logistics (storage -warehouses)

Transport refrigeration equipment is the prime segment in the global Industrial Refrigeration Equipment Market and accounted for leading share of total market owning to high demand of import and export, state to state transportation. Additionally, it is expected to continue its domination and grow at a rapid pace in the global Industrial Refrigeration Equipment market over the forecast period. Furthermore, Transport refrigeration segment trailed by liquid refreshment refrigerators segment. Beverage refrigerators segment is expected to growing due to increasing number of restaurant, specifically in fast-food division. The added equipment segment is expected to grow temperate rate owning to the increasing demand for refrigerated display bags in retail stores.

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Industrial Refrigeration Market: Key Participants:

There are some Key Participants for The Global Industrial Refrigeration Equipment Market:

  • Johnson Controls, Inc.
  • Emerson Electric Co.
  • United Technologies Corporation
  • Panasonic Corporation (Hussmann Corporation)
  • Parker Hannifin Corp
  • Danfoss A/S
  • Ingersoll-Rand plc
  • Lennox International Inc.
  • Heat Transfer Products Group (Kramer)
  • Dover Corporation (Hillphoenix)
  • Seward Refrigeration Ltd.
  • Midatlant Refrigeration LLC
  • MF refrigration

Industrial Refrigeration Equipment Market: Region-wise Outlook:

North America is expected to remain leading region over the forecast period owning to adoption of Co2 as a preferred refrigerant type. It is expected that Asia-Pacific is a fast growing market owning to high demand for commercial refrigeration equipment. Hence, Asia-Pacific is projected to be the speedy growing and the leading revenue subsidizing region in the global refrigeration equipment market during the forecast period. Furthermore, small and medium sized food processing industries and refrigerated warehouses have started ensuing F-gas regulations recently, owning to increasing international burden for adoption of Montreal Protocol in Asia-Pacific. Moreover, Latin America and Europe are also projected to show temperate growth for this market over the forecast period.

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