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    Industrial Refrigeration System Market - Size, Share, Trend & Forecast Analysis | Covid-19 Impact Analysis

    Industrial Refrigeration System Market - Size, Share, Trend & Forecast Analysis | Covid-19 Impact Analysis

    Industrial Refrigeration System Market - Size, Share, Trend & Forecast Analysis | Covid-19 Impact Analysis
    Report code - SRAM300 Delivery - 2 Weeks
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    Impact of COVID-19 on Industrial Refrigeration System Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Industrial Refrigeration System Market

    Covid-19 has impacted the market dynamics, competition, and global supply chains. The revenues has gone down in 2020 and may resume an uptrend gradually form 2021. Companies optimizing their operation and statergy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Industrial Refrigeration System Market Insights

    Industrial Refrigeration System Market is likely to witness a CAGR of 5.2% during the forecast period. The global industrial refrigeration system market has almost neared a saturation level with an unwavering growth in the last five years and is expected to witness similar growth during the forecast period. There have been not much technological progressions in the field of industrial refrigeration systems in the recent years, but a gradual shift can be expected from the use of ozone depleting substances, such as hydrofluorocarbons (HFCs) and hydrochlorofluorocarbons (HCFCs) to natural refrigerant-based systems. Growing cold chain infrastructure in the developing economies of Asia-Pacific, Latin America, the Middle East, and Africa is likely to act as a major growth driver for the global industrial refrigeration system market.

    Industrial Refrigeration System Market - Snapshot

    Growth

    5.2% for the next five years

    Major Equipment Type

    Controls

    Dominant Refrigerant Type

    CO2 refrigerant

    Region with the highest demand

    North America

    Key Players

    Johnson Controls International plc, The Emerson Electric Company, Ingersoll-Rand plc, GEA Group AG, The Danfoss Group, Daikin Industries, Ltd., Bitzer SE, United Technologies Corporation, Mayekawa Mfg. Co. Ltd., Lu-Ve Group, Lennox International Inc., Evapco, Inc., and Baltimore Aircoil Company, Inc.

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    Market Share Analysis

    Industrial Refrigeration System Market Share: By Equipment Type

    Based on the equipment type, the market is segmented as compressors, condensers, evaporators, controls, vessels, valves, pumps, and auxiliary equipment. The controls segment is expected to witness the highest growth during the forecast period, owing to the growing significance of controlling system and software to improve energy efficiency of the existing and the new refrigeration systems.

    Industrial Refrigeration System Market Share: By Refrigerant Type

    Based on the refrigerant type, the market is segmented as ammonia, CO2, HFC, and others. The CO2 refrigerant segment is expected to witness the highest CAGR during the forecast period. This growth can be attributed to the higher adoption of CO2 refrigerants in the food and beverage industry, a major application area of industrial refrigeration system. Further, there are ample number of research & developmental activities going on in the developed economies to develop and employ CO2 refrigerants.

    Industrial Refrigeration System Market Share: By Region

    In terms of regions, North America dominated the industrial refrigeration system market and is expected to retain its dominant position during the forecast period. The USA is the growth engine of the North American market owing to dependable supply chain, significant capital investment, presence of a large number of end-users, and continuous research and development activities to meet the industry challenges. Asia-Pacific is expected to witness the highest growth owing to significant economic development in the region, rising disposable income of consumers, expanding infrastructure, and government support. Developing economies, such as China and India are the growth engines of the Asia-Pacific market.

    Industrial Refrigeration System Market: Key Players

    Some of the major industrial refrigeration system suppliers are Johnson Controls International plc, The Emerson Electric Company, Ingersoll-Rand plc, GEA Group AG, The Danfoss Group, Daikin Industries, Ltd., Bitzer SE, United Technologies Corporation, Mayekawa Mfg. Co. Ltd., Lu-Ve Group, Lennox International Inc., Evapco, Inc., and Baltimore Aircoil Company, Inc.

     

    Market Scope & segmentation

    Industrial Refrigeration System refers to a wide range of refrigeration applications such as freezers or liquefaction, and others.

    Industrial Refrigeration System comprise of a number equipment such as compressors, condensers, evaporators, controls, pumps, and others. Fruit & vegetable processing, beverage, refrigerated warehouse, chemicals, diary, and others are some of the industries where industrial refrigeration system is used.

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

    Industrial Refrigeration System Market Report - Features

    Market Segmentation

    4

    Regions Covered

    4

    Countries/Sub-Regions Covered

    15

    No. of Figures & Tables

    >150

    Company Profiles

    10

     

    The industrial refrigeration system market is segmented into the following categories. 

    Industrial Refrigeration System Market Size, Share & Forecast, by Equipment Type:

    • Compressors
      • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
      • (Type Analysis: Screw Compressors and Reciprocating Compressors)
    • Condensers
      • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
      • (Type Analysis: Evaporative Condensers, Water-Cooled Condensers, and Air-Cooled Condensers)
    • Evaporators
      • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
      • (Type Analysis: Air-Cooling Evaporators and Liquid-Cooling Evaporators)
    • Controls (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Vessels, Pumps, Valves, and Auxiliary Equipment (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Industrial Refrigeration System Market Size, Share & Forecast, by Refrigerant Type:

    • Ammonia (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • CO2 (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • HFC (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Industrial Refrigeration System Market Size, Share & Forecast, by Industry Type:

    • Fruit & Vegetable Processing (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Beverage (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Refrigerated Warehouse (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Chemicals, Petrochemicals, and Pharmaceuticals (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Diary and Ice-Cream Processing (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Meat, Poultry, and Fish Processing (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Refrigerated Transportation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Industrial Refrigeration System Market Size, Share & Forecast, by Region:

    • North America (Country Analysis: the USA, Canada, and Mexico) 
    • Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

     

    Research Methodology

    This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

     

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
    • Market trend and forecast analysis
    • Market segment trend and forecast
    • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities
    • Emerging trends
    • Strategic growth opportunities for the existing and new players
    • Key success factors

     

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Market Segmentation

    • Current market segmentation of any one of the refrigerant types by industry type.  

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected]


    General Frequently Asked Questions (FAQs)

    What is Industrial Refrigeration System?

    Industrial Refrigeration System refers to a wide range of refrigeration applications such as freezers or liquefaction, and others. Industrial Refrigeration System comprise of a number equipment such as compressors, condensers, evaporators, controls, pumps, and others. Fruit & vegetable processing, beverage, refrigerated warehouse, chemicals, diary, and others are some of the industries where industrial refrigeration system is used.

    What will be the CAGR of the Industrial Refrigeration System Market?

    Industrial Refrigeration System Market is likely to witness a CAGR of 5.2% during the forecast period.

    Which country/region is expected to remain the largest Industrial Refrigeration System Market?

    In terms of regions, North America dominated the industrial refrigeration system market and is expected to retain its dominant position during the forecast period.

    Who are the key players in the Industrial Refrigeration System Market?

    Some of the major industrial refrigeration system suppliers are Johnson Controls International plc, The Emerson Electric Company, Ingersoll-Rand plc, GEA Group AG, The Danfoss Group, Daikin Industries, Ltd., Bitzer SE, United Technologies Corporation, Mayekawa Mfg. Co. Ltd., Lu-Ve Group, Lennox International Inc., Evapco, Inc., and Baltimore Aircoil Company, Inc.

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