Industrial Refrigeration System - Global Market Outlook (2017-2026)
According to Stratistics MRC, the Global Industrial Refrigeration System Market is accounted for $16.64 billion in 2017 and is expected to reach $27.90 billion by 2026 growing at a CAGR of 5.9% during the forecast period. Some of the key factors propelling the market growth are rising demand for packaged food storage capabilities and rise in usage of these systems in the FMCG production. However, harmful effects of ammonia, lack of skilled labor and high energy consumption for operation are some of the factors hindering growth of the market. Moreover, introduction of advanced technologies is one of the major opportunities during the forecast period.
Industrial refrigeration refers to the procedure of cooling by means of refrigeration and cooling systems to eliminate the heat from a low-temperature medium and transferring it to a high-temperature medium. Industrial refrigeration systems are organized at large freezing and refrigeration plants for use in a variety of industrial usages such as food & beverage processing, cold storage, and others.
Amongst End User, food processing segment accounted for significant market growth during the forecast period. Food processing industries has a main share in global market in terms of utilization. In food processing industry, they are used for processing of fruits, vegetables, poultry, fish, meat and dairy products. By geography North America is expected to have the largest market share and dominated the market during the forecast period, US is the top region in the market due to huge usage of food and beverage processing applications.
Some of the key players profiled in the Industrial Refrigeration System Market include Emerson Electric Co., Johnson Controls International PLC, Daikin Industries, Ltd., The Danfoss Group, Lennox International Inc., Baltimore Aircoil Company, Inc., GEA Group AG, Bitzer Kuhlmaschinenbau GmbH, Hussmann Corporation, Alfa Laval, United Technologies Corporation, Evapco, Inc., Lu-Ve Group, Güntner GmbH & Co. Kg and Mayekawa Mfg. Co. Ltd.
• Hydrofluorocarbon (HFC)
• Carbon dioxide
• Other Refrigerants
• Fruit and Vegetable Processors
• Wineries and Breweries
• Explosion and Corrosion Protection
• Dairy & Ice cream processing
• Refrigerated Warehouses
• Poultry, Fish and Meat Processors
• Vessels, Pumps, Valves, and Auxiliary Equipment
End Users Covered:
• Transport Logistics
• Food Processing
- North America
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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