Industrial Refrigeration Systems Market Size Is Estimated To Reach $22.65 Billion By 2028 | Grand View Research, Inc.

Industrial Refrigeration Systems Market Size Is Estimated To Reach $22.65 Billion By 2028 | Grand View Research, Inc.
Grand View Research, Inc. – Market Research And Consulting.
According to a new report published by Grand View Research, increasing initiatives taken by governments to improve and strengthen the cold chain infrastructure are expected to drive market growth.

The global industrial refrigeration systems market size is estimated to reach USD 22.65 billion by 2028, registering a CAGR of 3.9% from 2021 to 2028, according to a new report by Grand View Research, Inc. The growth of food retail chains worldwide is expected to boost the demand for industrial refrigeration systems over the forecast period. Moreover, increasing initiatives taken by governments to improve and strengthen the cold chain infrastructure are expected to drive market growth.

Rising concerns around global warming have shifted the focus of industrial refrigeration system manufacturers and users from the thermodynamic properties of refrigerants to their Ozone Depletion Potential (ODP) and Global Warming Potential (GWP). Major industrial refrigeration systems players are focused on designing environment-friendly refrigeration systems owing to various benefits they offer, such as cost-effectiveness, lower power consumption, and low toxicity. For instance, in October 2019, EVAPCO, Inc., a prominent industrial refrigeration systems manufacturer, expanded its product line of low-charge packaged ammonia chiller systems by adding the Large-Single (LS) and Large Dual (LD) models. The products feature a Small-Single (SS) capacity of 250 Tons of Refrigeration (TR) at a supply glycol of 22°F.

The rising concerns regarding the use of refrigerants with a high global warming potential are expected to encourage developments in alternative industrial refrigeration systems. Magnetic refrigeration is another emerging technology that does not use a refrigerant but a heating or cooling liquid, is often water-based and has higher energy efficiency.

The shutdown of manufacturing and transportation facilities and food production units to prevent the spread of Covid-19 has resulted in a decline in the sales of industrial refrigeration systems. However, the increased deployment of cold chains to store and preserve vaccines and refrigerated transportation systems for facilitating its reach in large quantities is anticipated to continue supporting the market growth.

 

Browse full report with Table of Content @ https://www.grandviewresearch.com/industry-analysis/industrial-refrigeration-systems-market

 

Industrial Refrigeration Systems Market Report Highlights

  • The food and beverage segment accounted for the highest revenue share of over 55.0% of the overall market in 2020. The segment growth can be attributed to the rising disposable income and increased demand for packaged and processed food by consumers
  • The compressors segment is anticipated to witness the highest CAGR of around 5.0% over the forecast period. The growth can be attributed to the availability of natural refrigerants, which help compressors in increasing the cooling capacity and reduce the contribution to global warming
  • The Asia Pacific market is expected to witness the fastest growth, accounting for a CAGR of over 5.0% from 2021 to 2028. The rising adoption of cold chain infrastructure is expected to drive market growth in the region

 

For Requesting a Sample Copy of This Report, Please Visit @ https://www.grandviewresearch.com/industry-analysis/industrial-refrigeration-systems-market/request/rs1

 

Industrial Refrigeration Systems Market Segmentation

Grand View Research has segmented the global industrial refrigeration systems market based on component, capacity, application, and region:

Industrial Refrigeration Systems Component Outlook (Revenue, USD Billion, 2018 – 2028)

  • Compressors
    • Rotary Screw Compressors
    • Centrifugal Compressors
    • Reciprocating Compressors
    • Other Compressors
  • Condensers
  • Evaporators
  • Controls
  • Others

 

Industrial Refrigeration Systems Capacity Outlook (Revenue, USD Billion, 2018 – 2028)

  • Less than 100 kW
  • 100-500 kW
  • 500kW-1,000kW
  • 1,000kW-5,000kW
  • More than 5,000 kW

 

Industrial Refrigeration Systems Application Outlook (Revenue, USD Billion, 2018 – 2028)

  • Refrigerated Warehouse
  • Food & Beverage
  • Chemical, Petrochemical, & Pharmaceutical
  • Refrigerated Transportation

 

Industrial Refrigeration Systems Regional Outlook (Revenue, USD Billion, 2018 – 2028)

  • North America
    • U.S
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
  • Asia Pacific
    • China
    • India
    • Japan
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa

 

List of Key Players in the Industrial Refrigeration Systems Market

  • Johnson Controls
  • Emerson Electric Co.
  • Danfoss
  • GEA Group Aktiengesellschaft
  • MAYEKAWA MFG. CO., LTD.
  • BITZER Kühlmaschinenbau GmbH
  • DAIKIN INDUSTRIES, Ltd.
  • EVAPCO, Inc.
  • Güntner GmbH & Co. KG
  • LU-VE S.p.A.

 

Inquire more or share questions if any before the purchase on this report @ https://www.grandviewresearch.com/inquiry/450823/ibb

 

Browse More Related Report:

Commercial Refrigeration Equipment Market Size, Share & Trends Analysis Report By Product, By Application, By System Type (Self-contained, Remotely Operated), By Capacity, By Region, And Segment Forecasts, 2021 – 2028

 

About Grand View Research

Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.

Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1888202951
Address:Grand View Research, Inc. 201 Spear Street 1100 San Francisco, CA 94105, United States
City: San Francisco
State: California
Country: United States
Website: https://www.grandviewresearch.com/industry-analysis/industrial-refrigeration-systems-market


Posted

in

by

Tags: