Industrial refrigeration refers to refrigeration or cooling systems deployed in industries for various applications such as food & beverage processing, cold storage, and others. Further, the industrial refrigerators also provide assistance in preventing the spoilage of semi-processed foods and beverage. In addition to this, the refrigerators installed on vehicles facilitate in delivering of packaged foods & dairy products to the distributors.
The demand of industrial refrigeration is significantly driven by the food & beverage industry, and expansion of refrigerated warehouses in developing countries such as India, China, Latin America, and the Middle East.
However, high initial and maintenance cost of the system along with safety issues and shortage of skilled employees to handle the process of the system restrain the growth of the global refrigeration market. The manufacturing of compact refrigeration for vehicles and cold storage in emerging economies are projected to provide lucrative profitable opportunities to the market players.
The global industrial refrigeration market is segmented based on equipment, refrigeration type, application, and geography. Based on equipment, the market is divided into compressors, condensers, evaporators, controls, and others. Based on refrigeration type, it is classified into ammonia, CO2, HFC, and others. Based on application, the market is categorized into fruits & vegetables processing, beverage, refrigerated warehouse, chemicals & pharmaceuticals, dairy & ice-cream processing, meat, poultry & fish processing, and refrigerated transportation. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key players operating in the market include Daikin Industries, Ltd. (Japan), Emerson Electric Co. (U.S.), Evapco, Inc. (U.S.), GEA Group AG (Germany), Johnson Controls, Inc. (U.S.), Ingersoll Rand Plc (Ireland), LU-VE Group (Italy), Mayekawa Mfg. Co. Ltd. (Japan), The Danfoss Group (Denmark), and United Technologies Corporation (U.S.).
- The report provides an in-depth analysis of industrial refrigeration industry to identify the potential investment pockets.
- The key drivers, restraints, and opportunities are provided in the report.
- Porters Five Forces model helps analyze the potential buyers & suppliers and the competitive sketch of the market, which is expected to guide the market players to develop strategies accordingly.
Industrial Refrigeration Market Key Segments:
By Refrigerant Type
- Fruits & Vegetables Processing
- Refrigerated Warehouse
- Chemicals & Pharmaceuticals
- Dairy & Ice-Cream Processing
- Meat, Poultry & Fish Processing
- Refrigerated Transportation
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East
Key Market Players
- Daikin Industries, Ltd. (Japan)
- Emerson Electric Co. (U.S.)
- Evapco, Inc. (U.S.)
- GEA Group AG (Germany)
- Johnson Controls, Inc. (U.S.)
- Ingersoll Rand Plc (Ireland)
- LU-VE Group (Italy)
- Mayekawa Mfg. Co. Ltd. (Japan)
- The Danfoss Group (Denmark)
- United Technologies Corporation (U.S.)