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PUBLISHER: IMARC | PRODUCT CODE: 1800900
PUBLISHER: IMARC | PRODUCT CODE: 1800900
Industrial Refrigeration System Market Report by Component, Refrigerant Type (Ammonia, Carbon Dioxide, Hydrofluorocarbon, and Others), Application, and Region 2025-2033
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PAGES: 120 Pages
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The global industrial refrigeration system market size reached USD 21.3 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 32.2 Billion by 2033, exhibiting a growth rate (CAGR) of 4.46% during 2025-2033.
Industrial refrigeration systems refer to large-scale freezing and refrigeration units used for cooling and removing heat from various products. These units require liquid refrigerants, such as ammonia (NH3) and carbon dioxide (CO2), a metering device, a compressor pump and an evaporator to operate. They remove heat from a low-temperature medium and transfer it to a high-temperature medium. This offers various advantages, such as rapid cooling, cost-effectiveness and minimal impact on the environment. As a result, industrial refrigeration units find extensive applications across various industrial sectors, such as food processing, cold storage, pharmaceutical, petrochemical and liquified natural gas (LNG) liquefaction.
Significant growth in the food and beverage industry is one of the key factors creating a positive outlook for the market. Due to changing lifestyles, dietary patterns and hectic schedules, consumers are increasingly opting for packed, processed and frozen ready-to-eat (RTE) food items. Furthermore, the increasing demand for compact and innovative refrigeration systems is favoring the market growth. The industrial refrigeration systems are also gaining immense traction across the globe due to improvements in the cold chain infrastructure that uses a series of cooling and freezing units for storage, production and processing applications. Additionally, various product innovations, such as the utilization of natural refrigerant-based systems and the development of units with the internet of things (IoT)-enabled monitoring systems, are acting as other growth-inducing factors. Natural refrigerants exhibit high thermodynamic properties with high energy efficiency, thereby making them suitable for industrial applications. Other factors, including rapid industrialization, along with the emerging trend of upgrading existing industrial refrigeration systems, are expected to drive the market further.
Key Market Segmentation:
Breakup by Component:
- Compressor
- Condenser
- Evaporator
- Others
Breakup by Refrigerant Type:
- Ammonia
- Carbon Dioxide
- Hydrofluorocarbon (HFC)
- Others
Breakup by Application:
- Fresh Fruits and Vegetables
- Meat, Poultry and Fish
- Dairy Products
- Beverages
- Chemicals
- Pharmaceuticals
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being Baltimore Aircoil, Bitzer, Daikin, Danfoss, Evapco, GEA Group AG, Ingersoll-Rand, Johnson Controls, Lennox International, LU-VE Group, Mayekawa and United Technologies.
Key Questions Answered in This Report:
- How has the global industrial refrigeration system market performed so far and how will it perform in the coming years ?
- What has been the impact of COVID-19 on the global industrial refrigeration system market ?
- What are the key regional markets ?
- What is the breakup of the market based on the component ?
- What is the breakup of the market based on the refrigerant type ?
- What is the breakup of the market based on the application ?
- What are the various stages in the value chain of the industry ?
- What are the key driving factors and challenges in the industry ?
- What is the structure of the global industrial refrigeration system market and who are the key players ?
- What is the degree of competition in the industry ?
Product Code: SR112025A2465
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Industrial Refrigeration System Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Component
- 6.1 Compressor
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Condenser
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Evaporator
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
- 6.4 Others
- 6.4.1 Market Trends
- 6.4.2 Market Forecast
7 Market Breakup by Refrigerant Type
- 7.1 Ammonia
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Carbon Dioxide
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Hydrofluorocarbon (HFC)
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 Others
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
8 Market Breakup by Application
- 8.1 Fresh Fruits and Vegetables
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Meat, Poultry and Fish
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Dairy Products
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Beverages
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
- 8.5 Chemicals
- 8.5.1 Market Trends
- 8.5.2 Market Forecast
- 8.6 Pharmaceuticals
- 8.6.1 Market Trends
- 8.6.2 Market Forecast
- 8.7 Others
- 8.7.1 Market Trends
- 8.7.2 Market Forecast
9 Market Breakup by Region
- 9.1 North America
- 9.1.1 United States
- 9.1.1.1 Market Trends
- 9.1.1.2 Market Forecast
- 9.1.2 Canada
- 9.1.2.1 Market Trends
- 9.1.2.2 Market Forecast
- 9.1.1 United States
- 9.2 Asia Pacific
- 9.2.1 China
- 9.2.1.1 Market Trends
- 9.2.1.2 Market Forecast
- 9.2.2 Japan
- 9.2.2.1 Market Trends
- 9.2.2.2 Market Forecast
- 9.2.3 India
- 9.2.3.1 Market Trends
- 9.2.3.2 Market Forecast
- 9.2.4 South Korea
- 9.2.4.1 Market Trends
- 9.2.4.2 Market Forecast
- 9.2.5 Australia
- 9.2.5.1 Market Trends
- 9.2.5.2 Market Forecast
- 9.2.6 Indonesia
- 9.2.6.1 Market Trends
- 9.2.6.2 Market Forecast
- 9.2.7 Others
- 9.2.7.1 Market Trends
- 9.2.7.2 Market Forecast
- 9.2.1 China
- 9.3 Europe
- 9.3.1 Germany
- 9.3.1.1 Market Trends
- 9.3.1.2 Market Forecast
- 9.3.2 France
- 9.3.2.1 Market Trends
- 9.3.2.2 Market Forecast
- 9.3.3 United Kingdom
- 9.3.3.1 Market Trends
- 9.3.3.2 Market Forecast
- 9.3.4 Italy
- 9.3.4.1 Market Trends
- 9.3.4.2 Market Forecast
- 9.3.5 Spain
- 9.3.5.1 Market Trends
- 9.3.5.2 Market Forecast
- 9.3.6 Russia
- 9.3.6.1 Market Trends
- 9.3.6.2 Market Forecast
- 9.3.7 Others
- 9.3.7.1 Market Trends
- 9.3.7.2 Market Forecast
- 9.3.1 Germany
- 9.4 Latin America
- 9.4.1 Brazil
- 9.4.1.1 Market Trends
- 9.4.1.2 Market Forecast
- 9.4.2 Mexico
- 9.4.2.1 Market Trends
- 9.4.2.2 Market Forecast
- 9.4.3 Others
- 9.4.3.1 Market Trends
- 9.4.3.2 Market Forecast
- 9.4.1 Brazil
- 9.5 Middle East and Africa
- 9.5.1 Market Trends
- 9.5.2 Market Breakup by Country
- 9.5.3 Market Forecast
10 SWOT Analysis
- 10.1 Overview
- 10.2 Strengths
- 10.3 Weaknesses
- 10.4 Opportunities
- 10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
- 12.1 Overview
- 12.2 Bargaining Power of Buyers
- 12.3 Bargaining Power of Suppliers
- 12.4 Degree of Competition
- 12.5 Threat of New Entrants
- 12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
- 14.1 Market Structure
- 14.2 Key Players
- 14.3 Profiles of Key Players
- 14.3.1 Baltimore Aircoil
- 14.3.1.1 Company Overview
- 14.3.1.2 Product Portfolio
- 14.3.2 Bitzer
- 14.3.2.1 Company Overview
- 14.3.2.2 Product Portfolio
- 14.3.2.3 Financials
- 14.3.3 Daikin
- 14.3.3.1 Company Overview
- 14.3.3.2 Product Portfolio
- 14.3.3.3 Financials
- 14.3.3.4 SWOT Analysis
- 14.3.4 Danfoss
- 14.3.4.1 Company Overview
- 14.3.4.2 Product Portfolio
- 14.3.4.3 Financials
- 14.3.4.4 SWOT Analysis
- 14.3.5 Evapco
- 14.3.5.1 Company Overview
- 14.3.5.2 Product Portfolio
- 14.3.6 GEA Group AG
- 14.3.6.1 Company Overview
- 14.3.6.2 Product Portfolio
- 14.3.7 Ingersoll-Rand
- 14.3.7.1 Company Overview
- 14.3.7.2 Product Portfolio
- 14.3.8 Johnson Controls
- 14.3.8.1 Company Overview
- 14.3.8.2 Product Portfolio
- 14.3.8.3 Financials
- 14.3.8.4 SWOT Analysis
- 14.3.9 Lennox International
- 14.3.9.1 Company Overview
- 14.3.9.2 Product Portfolio
- 14.3.9.3 Financials
- 14.3.9.4 SWOT Analysis
- 14.3.10 LU-VE Group
- 14.3.10.1 Company Overview
- 14.3.10.2 Product Portfolio
- 14.3.10.3 Financials
- 14.3.11 Mayekawa
- 14.3.11.1 Company Overview
- 14.3.11.2 Product Portfolio
- 14.3.12 United Technologies
- 14.3.12.1 Company Overview
- 14.3.12.2 Product Portfolio
- 14.3.1 Baltimore Aircoil
Product Code: SR112025A2465
List of Figures
- Figure 1: Global: Industrial Refrigeration System Market: Major Drivers and Challenges
- Figure 2: Global: Industrial Refrigeration System Market: Sales Value (in Billion USD), 2019-2024
- Figure 3: Global: Industrial Refrigeration System Market Forecast: Sales Value (in Billion USD), 2025-2033
- Figure 4: Global: Industrial Refrigeration System Market: Breakup by Component (in %), 2024
- Figure 5: Global: Industrial Refrigeration System Market: Breakup by Refrigerant Type (in %), 2024
- Figure 6: Global: Industrial Refrigeration System Market: Breakup by Application (in %), 2024
- Figure 7: Global: Industrial Refrigeration System Market: Breakup by Region (in %), 2024
- Figure 8: Global: Industrial Refrigeration System (Compressor) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 9: Global: Industrial Refrigeration System (Compressor) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 10: Global: Industrial Refrigeration System (Condenser) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 11: Global: Industrial Refrigeration System (Condenser) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 12: Global: Industrial Refrigeration System (Evaporator) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 13: Global: Industrial Refrigeration System (Evaporator) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 14: Global: Industrial Refrigeration System (Other Components) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 15: Global: Industrial Refrigeration System (Other Components) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 16: Global: Industrial Refrigeration System (Ammonia) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 17: Global: Industrial Refrigeration System (Ammonia) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 18: Global: Industrial Refrigeration System (Carbon Dioxide) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 19: Global: Industrial Refrigeration System (Carbon Dioxide) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 20: Global: Industrial Refrigeration System (Hydrofluorocarbon-HFC) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 21: Global: Industrial Refrigeration System (Hydrofluorocarbon-HFC) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 22: Global: Industrial Refrigeration System (Other Refrigerant Types) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 23: Global: Industrial Refrigeration System (Other Refrigerant Types) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 24: Global: Industrial Refrigeration System (Fresh Fruits and Vegetables) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 25: Global: Industrial Refrigeration System (Fresh Fruits and Vegetables) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 26: Global: Industrial Refrigeration System (Meat, Poultry and Fish) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 27: Global: Industrial Refrigeration System (Meat, Poultry and Fish) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 28: Global: Industrial Refrigeration System (Dairy Products) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 29: Global: Industrial Refrigeration System (Dairy Products) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 30: Global: Industrial Refrigeration System (Beverages) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 31: Global: Industrial Refrigeration System (Beverages) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 32: Global: Industrial Refrigeration System (Chemicals) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 33: Global: Industrial Refrigeration System (Chemicals) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 34: Global: Industrial Refrigeration System (Pharmaceuticals) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 35: Global: Industrial Refrigeration System (Pharmaceuticals) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 36: Global: Industrial Refrigeration System (Other Applications) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 37: Global: Industrial Refrigeration System (Other Applications) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 38: North America: Industrial Refrigeration System Market: Sales Value (in Million USD), 2019 & 2024
- Figure 39: North America: Industrial Refrigeration System Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 40: United States: Industrial Refrigeration System Market: Sales Value (in Million USD), 2019 & 2024
- Figure 41: United States: Industrial Refrigeration System Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 42: Canada: Industrial Refrigeration System Market: Sales Value (in Million USD), 2019 & 2024
- Figure 43: Canada: Industrial Refrigeration System Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 44: Asia Pacific: Industrial Refrigeration System Market: Sales Value (in Million USD), 2019 & 2024
- Figure 45: Asia Pacific: Industrial Refrigeration System Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 46: China: Industrial Refrigeration System Market: Sales Value (in Million USD), 2019 & 2024
- Figure 47: China: Industrial Refrigeration System Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 48: Japan: Industrial Refrigeration System Market: Sales Value (in Million USD), 2019 & 2024
- Figure 49: Japan: Industrial Refrigeration System Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 50: India: Industrial Refrigeration System Market: Sales Value (in Million USD), 2019 & 2024
- Figure 51: India: Industrial Refrigeration System Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 52: South Korea: Industrial Refrigeration System Market: Sales Value (in Million USD), 2019 & 2024
- Figure 53: South Korea: Industrial Refrigeration System Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 54: Australia: Industrial Refrigeration System Market: Sales Value (in Million USD), 2019 & 2024
- Figure 55: Australia: Industrial Refrigeration System Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 56: Indonesia: Industrial Refrigeration System Market: Sales Value (in Million USD), 2019 & 2024
- Figure 57: Indonesia: Industrial Refrigeration System Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 58: Others: Industrial Refrigeration System Market: Sales Value (in Million USD), 2019 & 2024
- Figure 59: Others: Industrial Refrigeration System Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 60: Europe: Industrial Refrigeration System Market: Sales Value (in Million USD), 2019 & 2024
- Figure 61: Europe: Industrial Refrigeration System Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 62: Germany: Industrial Refrigeration System Market: Sales Value (in Million USD), 2019 & 2024
- Figure 63: Germany: Industrial Refrigeration System Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 64: France: Industrial Refrigeration System Market: Sales Value (in Million USD), 2019 & 2024
- Figure 65: France: Industrial Refrigeration System Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 66: United Kingdom: Industrial Refrigeration System Market: Sales Value (in Million USD), 2019 & 2024
- Figure 67: United Kingdom: Industrial Refrigeration System Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 68: Italy: Industrial Refrigeration System Market: Sales Value (in Million USD), 2019 & 2024
- Figure 69: Italy: Industrial Refrigeration System Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 70: Spain: Industrial Refrigeration System Market: Sales Value (in Million USD), 2019 & 2024
- Figure 71: Spain: Industrial Refrigeration System Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 72: Russia: Industrial Refrigeration System Market: Sales Value (in Million USD), 2019 & 2024
- Figure 73: Russia: Industrial Refrigeration System Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 74: Others: Industrial Refrigeration System Market: Sales Value (in Million USD), 2019 & 2024
- Figure 75: Others: Industrial Refrigeration System Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 76: Latin America: Industrial Refrigeration System Market: Sales Value (in Million USD), 2019 & 2024
- Figure 77: Latin America: Industrial Refrigeration System Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 78: Brazil: Industrial Refrigeration System Market: Sales Value (in Million USD), 2019 & 2024
- Figure 79: Brazil: Industrial Refrigeration System Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 80: Mexico: Industrial Refrigeration System Market: Sales Value (in Million USD), 2019 & 2024
- Figure 81: Mexico: Industrial Refrigeration System Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 82: Others: Industrial Refrigeration System Market: Sales Value (in Million USD), 2019 & 2024
- Figure 83: Others: Industrial Refrigeration System Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 84: Middle East and Africa: Industrial Refrigeration System Market: Sales Value (in Million USD), 2019 & 2024
- Figure 85: Middle East and Africa: Industrial Refrigeration System Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 86: Global: Industrial Refrigeration System Industry: SWOT Analysis
- Figure 87: Global: Industrial Refrigeration System Industry: Value Chain Analysis
- Figure 88: Global: Industrial Refrigeration System Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Industrial Refrigeration System Market: Key Industry Highlights, 2024 and 2033
- Table 2: Global: Industrial Refrigeration System Market Forecast: Breakup by Component (in Million USD), 2025-2033
- Table 3: Global: Industrial Refrigeration System Market Forecast: Breakup by Refrigerant Type (in Million USD), 2025-2033
- Table 4: Global: Industrial Refrigeration System Market Forecast: Breakup by Application (in Million USD), 2025-2033
- Table 5: Global: Industrial Refrigeration System Market Forecast: Breakup by Region (in Million USD), 2025-2033
- Table 6: Global: Industrial Refrigeration System Market: Competitive Structure
- Table 7: Global: Industrial Refrigeration System Market: Key Players
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