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 segmented on the component, capacity, and application. Based on the components, the market is sub-segmented into compressors, condensers, evaporators, controls, and others (capillary tubes, condenser coils).Based on the capacity, the market is sub-segmented into less than 100kw, 100-500kw, 500-1000kw, 1000-5000kw, and more than 5000kw. Further, on the basis of application, the market is sub-segmented into a refrigerated warehouse, food & beverage, chemical petrochemical & pharmaceuticals, and refrigerated transportation. Among the applications, the refrigerated warehouse sub-segment is anticipated to hold a considerable share of the market owing to the rise in benefits of using cold storage in lowering the rate of chemical changes in perishable products.
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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
Global Industrial Refrigeration Systems Market Report Segment
By Component
- Compressors
- Condensers
- Evaporators
- Controls
- Others (Capillary tube, Condensers coils)
By Capacity
- Less than 100kW
- 100-500kW
- 500-1000kW
- 1000-5000kW
- More than 5000kW
By Application
- Refrigerated Warehouse
- Food & Beverage
- Chemical Petrochemical & Pharmaceuticals
- Refrigerated Transportation
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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