Industrial Refrigeration System Market Report: Trends, Forecast and Competitive Analysis to 2030

Industrial Refrigeration System Trends and Forecast

The future of the global industrial refrigeration system market looks promising with opportunities in the refrigerated warehouse, food & beverage, chemical petrochemical & pharmaceuticals, and refrigerated transportation markets. The global industrial refrigeration system market is expected to reach an estimated $29.7 billion by 2030 with a CAGR of 5.4% from 2024 to 2030. The major drivers for this market are increasing use of packaged and processed meals and beverages, global development of better and more advanced cold chain systems, as well as, application of systems based on natural refrigerant and creation of devices with internet of things (IoT)-enabled monitoring systems.

A more than 150-page report is developed to help in your business decisions.

Industrial Refrigeration System by Segment

The study includes a forecast for the global industrial refrigeration system by capacity, component, application, and region.

Industrial Refrigeration System Market by Capacity [Shipment Analysis by Value from 2018 to 2030]:

• Less than 100kW
• 100-500kW
• 500-1000kW
• 1000-5000kW
• More than 5000kW

Industrial Refrigeration System Market by Component [Shipment Analysis by Value from 2018 to 2030]:

• Compressor
• Condenser
• Evaporator
• Control
• Others

Industrial Refrigeration System Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Refrigerated Warehouse
• Food & Beverage
• Chemical Petrochemical & Pharmaceuticals
• Refrigerated Transportation

Industrial Refrigeration System Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Industrial Refrigeration System Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies industrial refrigeration system companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the industrial refrigeration system companies profiled in this report include-

• Johnson Control
• Emerson Electric
• Dan Foss
• Daiken Industries
• GEA
• MAYEKAWA MFG
• BITZER
• Guntner

Industrial Refrigeration System Market Insights

Lucintel forecasts that compressor will remain the largest segment over the forecast period because it is utilized to keep the temperature and pressure below the necessary levels and to get rid of the vapor, and the device is an important component of the industrial refrigeration system as it regulates the load over the evaporators.

APAC is expected to witness highest growth over the forecast period due to increasing disposable money, a growing population, and shifting lifestyles in this region.

Features of the Global Industrial Refrigeration System Market

Market Size Estimates: Industrial refrigeration system market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Industrial refrigeration system market size by capacity, component, application, and region in terms of value ($B).

Regional Analysis: Industrial refrigeration system market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different capacity, component, application, and regions for the industrial refrigeration system market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the industrial refrigeration system market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q.1 What is the industrial refrigeration system market size?

Answer: The global industrial refrigeration system market is expected to reach an estimated $29.7 billion by 2030.

Q.2 What is the growth forecast for industrial refrigeration system market?

Answer: The global industrial refrigeration system market is expected to grow with a CAGR of 5.4% from 2024 to 2030.

Q.3 What are the major drivers influencing the growth of the industrial refrigeration system market?

Answer: The major drivers for this market are increasing use of packaged and processed meals and beverages, global development of better and more advanced cold chain systems, as well as, application of systems based on natural refrigerant and creation of devices with internet of things (IoT)-enabled monitoring systems.

Q4. What are the major segments for industrial refrigeration system market?

Answer: The future of the global industrial refrigeration system market looks promising with opportunities in the refrigerated warehouse, food & beverage, chemical petrochemical & pharmaceuticals, and refrigerated transportation markets.

Q5. Who are the key industrial refrigeration system market companies?

Answer: Some of the key industrial refrigeration system companies are as follows:

• Johnson Control
• Emerson Electric
• Dan Foss
• Daiken Industries
• GEA
• MAYEKAWA MFG
• BITZER
• Guntner

Q6. Which industrial refrigeration system market segment will be the largest in future?

Answer: Lucintel forecasts that compressor will remain the largest segment over the forecast period because it is utilized to keep the temperature and pressure below the necessary levels and to get rid of the vapor, and the device is an important component of the industrial refrigeration system as it regulates the load over the evaporators.

Q7. In industrial refrigeration system market, which region is expected to be the largest in next 5 years?

Answer: APAC is expected to witness highest growth over the forecast period due to increasing disposable money, a growing population, and shifting lifestyles in this region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the industrial refrigeration system market by capacity (less than 100kw, 100-500kw, 500-1000kw, 1000-5000kw, and more than 5000kw), component (compressor, condenser, evaporator, control, and others), application (refrigerated warehouse, food & beverage, chemical petrochemical & pharmaceuticals, and refrigerated transportation), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?