Global Industrial Refrigeration Systems Market Size Study & Forecast, by Component, Capacity, Refrigerant, Application, and Regional Forecasts 2025-2035

Description

The Global Industrial Refrigeration Systems Market is valued at approximately USD 21.32 billion in 2024 and is anticipated to grow at a compound annual growth rate (CAGR) of 4.80% over the forecast period 2025-2035. Industrial refrigeration systems form the backbone of temperature-controlled environments across various sectors-spanning food processing, pharmaceuticals, chemicals, and logistics. Designed to preserve product integrity and enhance safety, these systems play an indispensable role in operations that rely on long-term cooling, freezing, or preservation. As global supply chains become increasingly complex and the demand for cold storage infrastructure surges-particularly in emerging markets-the market for industrial refrigeration solutions continues to accelerate.

In recent years, the evolution of eco-conscious business mandates and stricter regulatory frameworks has spurred the development of energy-efficient and low-GWP (Global Warming Potential) refrigerant systems. This paradigm shift is prompting companies to phase out legacy systems and invest in cutting-edge refrigeration infrastructure that aligns with sustainability objectives. Technological innovations such as IoT-integrated controls, predictive maintenance, and real-time performance monitoring are also gaining momentum. These advancements not only reduce downtime and operational costs but also allow facility managers to drive precision cooling strategies across production lines and warehousing environments. Simultaneously, the food and beverage sector, particularly in processed meat and dairy, is emerging as a key growth driver due to increasing consumer demand for perishable goods with extended shelf life.

Regionally, North America dominates the market due to its robust food processing industry, widespread adoption of advanced refrigeration technologies, and favorable government incentives for energy-efficient solutions. The U.S. remains a key contributor to this trend, driven by regulatory compliance such as the Clean Air Act and the adoption of natural refrigerants like ammonia and CO2. On the other hand, the Asia Pacific region is poised to exhibit the fastest growth rate over the forecast period. Rapid urbanization, population expansion, and rising disposable incomes in countries like China and India are boosting demand for cold chain logistics and temperature-sensitive pharmaceuticals. Moreover, significant investments in expanding cold storage infrastructure and increasing participation from domestic manufacturers are further fueling regional momentum. Europe also maintains a stronghold, particularly due to food safety mandates and sustainability-focused retrofitting of aging refrigeration assets.

Major market player included in this report are:

Emerson Electric Co.
Danfoss A/S
Johnson Controls International plc
GEA Group AG
Bitzer SE
Mayekawa Mfg. Co. Ltd.
Ingersoll Rand Inc.
Carrier Global Corporation
Baltimore Aircoil Company Inc.
LU-VE S.p.A.
Daikin Industries Ltd.
EVAPCO, Inc.
Star Refrigeration Ltd.
Mitsubishi Heavy Industries, Ltd.
Dorin S.p.A.

Global Industrial Refrigeration Systems Market Report Scope:

Historical Data - 2023, 2024
Base Year for Estimation - 2024
Forecast period - 2025-2035
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Customization Scope - Free report customization (equivalent up to 8 analysts' working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within the countries involved in the study. The report also provides detailed information about crucial aspects, such as driving factors and challenges, which will define the future growth of the market. Additionally, it incorporates potential opportunities in micro-markets for stakeholders to invest, along with a detailed analysis of the competitive landscape and product offerings of key players. The detailed segments and sub-segments of the market are explained below:

By Component:

Compressors
Condensers
Evaporators
Controls

By Capacity:

(Detailed segments to be defined based on capacity ranges if applicable)

By Refrigerant:

(Detailed segments to be defined based on refrigerant types such as Ammonia, CO2, HFCs, etc.)

By Application:

(Detailed segments to be defined based on end-use industries such as Food & Beverage, Pharmaceuticals, Chemicals, Logistics, etc.)

By Region:

North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
UAE
Saudi Arabia
South Africa
Rest of Middle East & Africa

Key Takeaways:

Market Estimates & Forecast for 10 years from 2025 to 2035.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.

Chapter 1. Global Industrial Refrigeration Systems Market Report Scope & Methodology

1.1. Research Objective
1.2. Research Methodology
- 1.2.1. Forecast Model
- 1.2.2. Desk Research
- 1.2.3. Top-Down and Bottom-Up Approach
1.3. Research Attributes
1.4. Scope of the Study
- 1.4.1. Market Definition
- 1.4.2. Market Segmentation
1.5. Research Assumption
- 1.5.1. Inclusion & Exclusion
- 1.5.2. Limitations
- 1.5.3. Years Considered for the Study

Chapter 2. Executive Summary

2.1. CEO/CXO Standpoint
2.2. Strategic Insights
2.3. ESG Analysis
2.4. Key Findings

Chapter 3. Global Industrial Refrigeration Systems Market Forces Analysis (2024-2035)

3.1. Market Forces Shaping the Global Industrial Refrigeration Systems Market
3.2. Drivers
- 3.2.1. Rising Demand for Cold Chain Infrastructure and Food Safety Compliance
- 3.2.2. Regulatory Mandates on Energy Efficiency and Low-GWP Refrigerants
3.3. Restraints
- 3.3.1. High Capital Expenditure and Operational Energy Costs
- 3.3.2. Phasing Out of Legacy High-GWP Refrigerants and Retrofit Challenges
3.4. Opportunities
- 3.4.1. IoT-Enabled Predictive Maintenance and Smart Controls
- 3.4.2. Adoption of Natural and Low-GWP Refrigerants

Chapter 4. Global Industrial Refrigeration Systems Industry Analysis

4.1. Porter's Five Forces Model
- 4.1.1. Bargaining Power of Buyers
- 4.1.2. Bargaining Power of Suppliers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
4.2. Porter's Five Forces Forecast Model (2024-2035)
4.3. PESTEL Analysis
- 4.3.1. Political
- 4.3.2. Economic
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
4.4. Top Investment Opportunities
4.5. Top Winning Strategies (2025)
4.6. Market Share Analysis (2024-2025)
4.7. Global Pricing Analysis and Trends 2025
4.8. Analyst Recommendation & Conclusion

Chapter 5. Global Industrial Refrigeration Systems Market Size & Forecasts by Component 2025-2035

5.1. Market Overview
5.2. Global Market Performance - Potential Analysis (2025)
5.3. Compressors
- 5.3.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 5.3.2. Market Size Analysis, by Region, 2025-2035
5.4. Condensers
- 5.4.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 5.4.2. Market Size Analysis, by Region, 2025-2035
5.5. Evaporators
- 5.5.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 5.5.2. Market Size Analysis, by Region, 2025-2035
5.6. Controls
- 5.6.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 5.6.2. Market Size Analysis, by Region, 2025-2035

Chapter 6. Global Industrial Refrigeration Systems Market Size & Forecasts by Capacity 2025-2035

6.1. Market Overview
6.2. Global Market Performance - Potential Analysis (2025)
6.3. (Capacity Ranges to be Defined)
- 6.3.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 6.3.2. Market Size Analysis, by Region, 2025-2035

Chapter 7. Global Industrial Refrigeration Systems Market Size & Forecasts by Region 2025-2035

7.1. Market, Regional Market Snapshot
7.2. Top Leading & Emerging Countries
7.3. North America Market
- 7.3.1. U.S. Market
  - 7.3.1.1. Component Breakdown & Forecasts, 2025-2035
  - 7.3.1.2. Capacity Breakdown & Forecasts, 2025-2035
- 7.3.2. Canada Market
  - 7.3.2.1. Component Breakdown & Forecasts, 2025-2035
  - 7.3.2.2. Capacity Breakdown & Forecasts, 2025-2035
7.4. Europe Market
- 7.4.1. UK Market
  - 7.4.1.1. Component Breakdown & Forecasts, 2025-2035
  - 7.4.1.2. Capacity Breakdown & Forecasts, 2025-2035
- 7.4.2. Germany Market
  - 7.4.2.1. Component Breakdown & Forecasts, 2025-2035
  - 7.4.2.2. Capacity Breakdown & Forecasts, 2025-2035
- 7.4.3. France Market
  - 7.4.3.1. Component Breakdown & Forecasts, 2025-2035
  - 7.4.3.2. Capacity Breakdown & Forecasts, 2025-2035
- 7.4.4. Spain Market
  - 7.4.4.1. Component Breakdown & Forecasts, 2025-2035
  - 7.4.4.2. Capacity Breakdown & Forecasts, 2025-2035
- 7.4.5. Italy Market
  - 7.4.5.1. Component Breakdown & Forecasts, 2025-2035
  - 7.4.5.2. Capacity Breakdown & Forecasts, 2025-2035
- 7.4.6. Rest of Europe Market
  - 7.4.6.1. Component Breakdown & Forecasts, 2025-2035
  - 7.4.6.2. Capacity Breakdown & Forecasts, 2025-2035
7.5. Asia Pacific Market
- 7.5.1. China Market
  - 7.5.1.1. Component Breakdown & Forecasts, 2025-2035
  - 7.5.1.2. Capacity Breakdown & Forecasts, 2025-2035
- 7.5.2. India Market
  - 7.5.2.1. Component Breakdown & Forecasts, 2025-2035
  - 7.5.2.2. Capacity Breakdown & Forecasts, 2025-2035
- 7.5.3. Japan Market
  - 7.5.3.1. Component Breakdown & Forecasts, 2025-2035
  - 7.5.3.2. Capacity Breakdown & Forecasts, 2025-2035
- 7.5.4. Australia Market
  - 7.5.4.1. Component Breakdown & Forecasts, 2025-2035
  - 7.5.4.2. Capacity Breakdown & Forecasts, 2025-2035
- 7.5.5. South Korea Market
  - 7.5.5.1. Component Breakdown & Forecasts, 2025-2035
  - 7.5.5.2. Capacity Breakdown & Forecasts, 2025-2035
- 7.5.6. Rest of APAC Market
  - 7.5.6.1. Component Breakdown & Forecasts, 2025-2035
  - 7.5.6.2. Capacity Breakdown & Forecasts, 2025-2035
7.6. Latin America Market
- 7.6.1. Brazil Market
  - 7.6.1.1. Component Breakdown & Forecasts, 2025-2035
  - 7.6.1.2. Capacity Breakdown & Forecasts, 2025-2035
- 7.6.2. Mexico Market
  - 7.6.2.1. Component Breakdown & Forecasts, 2025-2035
  - 7.6.2.2. Capacity Breakdown & Forecasts, 2025-2035
7.7. Middle East & Africa Market
- 7.7.1. UAE Market
  - 7.7.1.1. Component Breakdown & Forecasts, 2025-2035
  - 7.7.1.2. Capacity Breakdown & Forecasts, 2025-2035
- 7.7.2. Saudi Arabia Market
  - 7.7.2.1. Component Breakdown & Forecasts, 2025-2035
  - 7.7.2.2. Capacity Breakdown & Forecasts, 2025-2035
- 7.7.3. South Africa Market
  - 7.7.3.1. Component Breakdown & Forecasts, 2025-2035
  - 7.7.3.2. Capacity Breakdown & Forecasts, 2025-2035

Chapter 8. Competitive Intelligence

8.1. Top Market Strategies
8.2. Emerson Electric Co.
- 8.2.1. Company Overview
- 8.2.2. Key Executives
- 8.2.3. Company Snapshot
- 8.2.4. Financial Performance (Subject to Data Availability)
- 8.2.5. Product/Services Portfolio
- 8.2.6. Recent Development
- 8.2.7. Market Strategies
- 8.2.8. SWOT Analysis
8.3. Danfoss A/S
8.4. Johnson Controls International plc
8.5. GEA Group AG
8.6. Bitzer SE
8.7. Mayekawa Mfg. Co. Ltd.
8.8. Ingersoll Rand Inc.
8.9. Carrier Global Corporation
8.10. Baltimore Aircoil Company Inc.
8.11. LU-VE S.p.A.
8.12. Daikin Industries Ltd.
8.13. EVAPCO, Inc.
8.14. Star Refrigeration Ltd.
8.15. Mitsubishi Heavy Industries, Ltd.
8.16. Dorin S.p.A.