The global industrial refrigeration systems market is anticipated to grow at a CAGR of 4.2% during the forecast period (2024-2031). An Increase in demand of mechanical compression refrigeration, absorption refrigeration, and evaporation refrigeration in end-user verticals is a key factor driving the global industrial refrigeration systems market. The rising usage of processed and packaged foods & drinks has created demand for industrial refrigeration to prevent spoilage. Addition of several new features such as a plug-in hybrid system combining a commercial plug-in power source and a power source dedicated to the refrigerator are contributing to their rising adoption. To meet the growing demand for refrigeration, key players are making new new product launches. For instance, in September 2023, Mitsubishi Heavy Industries Thermal Systems, Ltd. (MHI Thermal Systems), a part of Mitsubishi Heavy Industries (MHI) Group, launched the TEJ35GAM, an electric-driven transport refrigeration unit exclusively for small and mid-size trucks in Japan. Self-contained display cases are integrated refrigeration systems that have all the essential operational components, from the compressor to condenser to evaporator and more, inside a single unit.
Further, in June 2022, Hillphoenix, part of Dover Food Retail and Dover and a pioneer in designing environmentally sustainable refrigeration systems, launched of R290 self-contained display cases, part of the company’s Second Nature® Natural product line. R290 cases are the newest addition to Hillphoenix’s expansive natural refrigerant portfolio and provide customers compliant solution for their retail operations.To increase safety and reduce downtime by offering performance reliability over wide areas in extreme environments and an easier, faster installation and commissioning process. Extreme environments include both heavy vibration conditions and operating temperatures ranging from -55C (-67F) up to 65C (149F) degrees commonly found in the oil and gas, refining, chemical, mining and large-scale refrigeration system operations.
Furthermore, In November 2021, Emerson unveiled the launch of new open-path gas detectors– Rosemount 935 and 936. The two new detectors were purposed to offer performance reliability and reduce downtime in extreme environments, including large-scale refrigeration systems, oil and gas, refining, chemical, and mining operations.
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Market Coverage
- The market number available for – 2023-2031
- Base year- 2023
- Forecast period- 2024-2031
Segment Covered-
- By Component
- By Capacity
- By Application
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- includes Daikin Industries, Ltd., Emerson Electric Co., Ingersoll Rand Plc., Johnson Controls International Plc and others.
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
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Industrial Refrigeration Systems Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East and Africa
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.
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