PUBLISHER: The Business Research Company | PRODUCT CODE: 1932670
PUBLISHER: The Business Research Company | PRODUCT CODE: 1932670
An industrial refrigeration system is a set of tools and accessories designed to extract heat from large-scale operations or substantial materials, lowering the temperature to an appropriate level. These systems find common application in cold storage, dairy processing, and beverage production.
The primary constituents of an industrial refrigeration system include compressors, rotary screw compressors, centrifugal compressors, reciprocating compressors, diaphragm compressors, evaporators, condensers, and controls. Compressors are specialized products engineered to mechanically elevate the pressure, temperature, and energy level of a refrigerant vapor as part of a transcritical CO2 refrigeration cycle or an economized vapor compression cycle. Ammonia and carbon dioxide serve as the refrigerants in various applications, such as refrigerated warehouses, refrigerated transportation, beverage processing, and dairy and ice cream processing.
Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.
Tariffs are impacting the industrial refrigeration systems market by increasing the cost of imported compressors, evaporators, control units, and pressure vessels. Cold storage, dairy, and beverage processors in North America and Europe are most affected due to reliance on imported systems, while Asia-Pacific manufacturers face pricing pressure. These tariffs are increasing project costs and extending commissioning timelines. However, they are also supporting localized system integration, regional sourcing, and innovation in efficient and compliant refrigeration system designs.
The industrial refrigeration system market research report is one of a series of new reports from The Business Research Company that provides industrial refrigeration system market statistics, including industrial refrigeration system industry global market size, regional shares, competitors with an industrial refrigeration system market share, detailed industrial refrigeration system market segments, market trends and opportunities, and any further data you may need to thrive in the industrial refrigeration system industry. This industrial refrigeration system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The industrial refrigeration systems market size has grown strongly in recent years. It will grow from $24.3 billion in 2025 to $25.84 billion in 2026 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to growth of dairy and beverage industries, expansion of cold warehouses, reliance on centralized refrigeration, industrial food preservation needs.
The industrial refrigeration systems market size is expected to see strong growth in the next few years. It will grow to $33.01 billion in 2030 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to environmental compliance pressure, cold chain expansion, energy optimization initiatives, smart control integration, demand for high-capacity systems. Major trends in the forecast period include adoption of integrated refrigeration systems, rising demand for large-scale cold storage, shift toward ammonia and CO2 systems, automation of refrigeration operations, expansion of beverage and dairy processing.
Growing demand for frozen and processed food is expected to drive the growth of the industrial refrigeration system market going forward. "Frozen food" refers to food that is quickly frozen and maintained in a frozen state until use, while "processed food" refers to food that has undergone mechanical or chemical processes to preserve or modify it. Industrial refrigeration systems are used in food processing to cool large volumes of water required during production. For example, in October 2023, according to the American Frozen Food Institute, a US-based national trade association for the frozen food industry, frozen food sales reached $74.2 billion, reflecting strong consumer demand and market stability. Over 38% of shoppers purchase frozen foods regularly, valuing their convenience and nutritional benefits. Additionally, 66% of core consumers perceive the frozen food aisle as offering healthier options, highlighting a growing consumer focus on health. Hence, the rising demand for frozen and processed food is supporting the industrial refrigeration system market.
Major companies in the industrial refrigeration system market are concentrating on technological innovations, such as refrigeration-as-a-service (RaaS), to strengthen their market position. Refrigeration-as-a-Service (RaaS) is a subscription-based model where businesses rent refrigeration equipment and services from a provider instead of purchasing and maintaining them. For instance, in September 2023, Carrier Corporation, a US-based provider of intelligent climate and energy solutions, launched a RaaS solution designed to help food retailers of all sizes improve efficiency, reliability, cost-effectiveness, and overall business resilience. The solution includes a performance guarantee, ensuring customers receive the required refrigeration performance to keep food products fresh and safe. Customers pay only for the refrigeration performance they use, which can reduce energy costs and enhance overall efficiency.
In June 2023, Johnson Controls International, a US-based provider of industrial refrigeration equipment, HVAC units, chillers, and compressors for commercial and industrial clients, acquired M&M Carnot for an undisclosed amount. Through this acquisition, Johnson Controls expanded its portfolio by integrating natural refrigerant (CO2 and low-charge ammonia) industrial and commercial refrigeration systems, positioning itself to meet growing demand for sustainable refrigeration in cold storage, food processing, and supermarket segments. M&M Carnot is a US-based provider of industrial and commercial CO2-based refrigeration systems, low-charge ammonia packages, and related services for cold storage, data centers, ice rinks, food processing, and supermarket applications.
Major companies operating in the industrial refrigeration systems market are Johnson Controls International plc, GEA Group Aktiengesellschaft, Daikin Industries, Ltd., EVAPCO, Inc., Bitzer Kuhlmaschinenbau GmbH, LU-VE Group, Guntner GmbH And Co. KG, Star Refrigeration Limited, Emerson Electric Co., Mayekawa Manufacturing Co., Ltd., Dover Corporation, Ingersoll Rand plc, MAN Energy Solutions SE, Mark Refrigeration Equipment Company, MTI Micro-Tech International Inc., Polycold Systems Inc., Enviro Tech International Inc., Refrigeration Engineering Corporation, Rivacold S.r.l., SCM Frigo Group S.r.l., Sterling Cryogenics B.V., Trane Technologies plc, Vilter Manufacturing Corporation, Vogt Ice Machine Company, Weiss Umwelttechnik GmbH
North America was the largest region in the Industrial Refrigeration System in 2025. The regions covered in the industrial refrigeration systems market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the industrial refrigeration systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The industrial refrigeration system market consists of revenues earned by entities by providing industrial refrigeration system services such as equipment repair and personnel training. The market value includes the value of related goods sold by the service provider or included within the service offering. The industrial refrigeration system market consists of sales of industrial refrigeration system equipment such as compressors, condensers, evaporators, and heat pumps, which are used in providing industrial refrigeration system services. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Industrial Refrigeration Systems Market Global Report 2026 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses industrial refrigeration systems market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for industrial refrigeration systems ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The industrial refrigeration systems market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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