Industrial Refrigeration Systems Market
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<strong>Industrial</strong> <strong>Refrigeration</strong> <strong>Systems</strong> <strong>Market</strong> Research<br />
Report With Key Players Analysis by 2023<br />
<strong>Industrial</strong> <strong>Refrigeration</strong> <strong>Systems</strong> <strong>Market</strong> is forecasted to attain $33,614.3 Million value by 2023. The market has been<br />
witnessing considerable growth, mainly due to factors such as growing food and beverages processing industry and<br />
rising cold chain industry, globally. Based on equipment type, the industrial refrigeration systems market is categorized<br />
into compressors, condensers, evaporators, controls and others (pumps, valves, vessels and auxiliary equipment). The<br />
compressor category accounted for highest revenue share, as compressor is a major part of the initial cost of the<br />
equipment.<br />
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Based on the refrigerant type, the industrial refrigeration systems market is categorized into ammonia, carbon dioxide<br />
(CO2), hydrofluorocarbons (HFC) and others, wherein others include chlorofluorocarbon (CFC),<br />
hydrochlorofluorocarbon (HCFC), fluorocarbon (FC), hydrocarbon (HC), Air and Water (H2O).
The market is projected to register fastest growth in APAC, during the forecast period. The strengthening of cold -chain<br />
infrastructure in developing countries across the region is one of the major factors pus hing the market growth.<br />
Subsequently, products such as seafood, meat, vegetables, and ice-cream, all part of perishable foods, accounted for a<br />
large share in cold chain revenue, owing to rising urbanization in APAC.<br />
Food and beverages processing is one of the largest industries in the world. The processed and ready-to-eat food, and<br />
beverages are now consumed in all countries across the world. On an average, the developed countries like the U.S.<br />
processes 90% of its produced food. Increasing production and consumption of processed foods in developing<br />
countries is propelling the demand for industrial refrigeration systems to keep food products fresh and healthy, which is<br />
further supporting the market growth.<br />
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Some of the major players operating in the global industrial refrigeration systems market include Ingersoll Rand plc,<br />
United Technologies Corporation, Emerson Electric Co., Danfoss A/S, <strong>Industrial</strong> Frigo SRL., GEA Group<br />
Aktiengesellschaft, BITZER Kühlmaschinenbau GmbH, Star <strong>Refrigeration</strong> Ltd., Daikin Industries Ltd, Dover<br />
Corporation, Hussmann Corporation, Johnson Controls International plc, and Mayekawa Mfg. Co. Ltd .<br />
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