Global Industrial Refrigeration System Market to 2025 by Component, Refrigerant Type, Application, and Region
/EIN News/ -- Dublin, Dec. 09, 2019 (GLOBE NEWSWIRE) -- The "Industrial Refrigeration System Market by Component (Compressor, Condenser, Evaporator), Refrigerant Type (Ammonia, CO2), Application (Fruit & Vegetable Processing, Meat & Poultry, Refrigerated Warehouse), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The industrial refrigeration system market was valued at USD 18.5 billion in 2018, and it is expected togrow at a CAGR of 4.3% from 2019 to 2025 to reach USD 24.8 billion by 2025.
Industrial refrigeration systems are used for cooling, freezing, and maintaining appropriate temperaturelevels across warehouses or storage facilities, food processing units, chemicals and pharmaceuticalsindustries, and logistics and other distribution area applications. Industrial refrigeration systems aretypically used in cold food storage, dairy processing, beverage production, ice rinks, and heavy industries.Industrial refrigeration systems are made up of various components, including compressors; condensers;evaporators; controls; and vessels, pumps, valves, and auxiliary equipment.
It also comprises various refrigerants, such as ammonia (R-717), HCFC (R-22), and CO2 (R-744). These systems are used inrefrigerated warehouses; fruit and vegetable processing facilities; beverage plants; chemical,petrochemical, and pharmaceutical plants; dairy and ice cream processing plants; and refrigeratedtransportation.In this report, the industrial refrigeration system market has been segmented into components, refrigeranttypes, applications, and regions. These market segments are further analyzed on the basis of markettrends across 4 regions considered in this study.
Johnson Controls International plc (Ireland), Emerson Electric Co. (US), The Danfoss Group (Denmark), GEAGroup AG (Germany), Mayekawa Mfg. Co., Ltd. (Japan), Ingersoll Rand Inc. (Ireland), Daikin (Japan), BITZERSE (Germany), United Technologies Corporation (US), and Evapco, Inc. (US) are among a few of the keyplayers in the industrial refrigeration system market.
Market Dynamics
Drivers
- Rising Demand for Innovative and Compact Refrigeration Systems
- Increasing Government Support to Strengthen Cold Chain Infrastructure in Developing Countries
- Growing Adoption of Natural Refrigerant-Based Refrigeration Systems Due to Stringent Regulatory Policies
Restraints
- High Installation Cost and Other Expenses
Opportunities
- Growing Popularity of Carbon Dioxide/Ammonia (CO2/NH3)-Based Cascade Refrigeration Systems
- Rising Demand for Frozen and Processed Food Across the World
Challenges
- Lack of Skilled Personnel, Along With High Safety Concerns
Value Chain Analysis
Policies and Regulations
Companies Mentioned
- Clauger
- Dorin
- Kobelco
- Parker Hannifin
- Rivacold
- Star Refrigeration
- Johnson Controls
- Emerson
- Danfoss
- GEA
- Mayekawa
- Baltimore Aircoil
- Bitzer
- Daikin
- Evapco
- Guentner
- Ingersoll-Rand
- Lennox International
- LU-VE
- United Technologies
For more information about this report visit https://www.researchandmarkets.com/r/gf8rsh
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