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 2026

Category: Electronic Devices
Published On: 8 December, 2020
Pages: 179
Report Code: GR - 51255
Formats: pdf, excel

KEY MARKET INSIGHTS

This report covers COVID-19 impact analysis on 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 2026

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GlobeResearch estimates that the global Industrial Refrigeration Systems market is expected to reach the market value of around USD 22,659Mn by 2026 and is predicted to grow at a CAGR of around 4.3% during 2020 – 2026.

Market Insights

The rising demand for industrial cooling systems in the FMCG industry is driving market growth. This is because of the growing use in developed and developing countries of refined and prepared food and drinks and the avoidance of the excess of semi-processed food and drink. In addition, increased government funding to improve the infrastructure of the cold chain and increased demand for lightweight and advanced cooling systems is projected to fuel demand in the forecast era.

This trend has given rise to new opportunities to require sophisticated temperature control systems that ensure the protection of fresh foods. The growing demand for peregrinated goods and the quick distribution supply of beef, poultry and fish processing products and the market for fresh food and drink delivery has also brought about substantial growth in cold chain operations. In addition, the demand for meat products is rising. The demand growth of these variables is projected to benefit.

The industry will also be encouraged to produce goods in order to draw consumers by recognizing the market behaviour, approaches to use of food, understanding of social patterns and consumer access to food. Increased consumer dietary preferences have prompted food suppliers to keep track of emerging trends and take on new innovations to maximize the demand opportunity. The growing trend of the purchasing and use of e-commerce goods has raised the need for cool transport and warehousing. In addition, an increase in the integrated retail sector has stimulated the market for packaged food in developing economies. There are some significant reasons behind the rising demand for industrial cooling systems.

The coolant is a fluid used in a cooling cycle to cool a certain area. Many coolants harm the atmosphere as they add to the loss of ozone layer and global warming. Greenhouse pollutants such as refrigerant and carbon dioxide emissions contribute to global warming, consuming and holding in the environment infraround radiation. Thus the use of natural cooling equipment is another driving force in the demand growth of industrial cooling systems thanks to strict regulatory policies.

Furthermore, many policymakers take steps to improve the facilities of the cold chain and encourage investment in the cold chain sector. As a result, demand for industrial cooling systems worldwide has been developed. For eg, the Indian Food Ministry has introduced the cold chain scheme, the value-added scheme, and the infrastructure of preservation. In order to mitigate damages after harvest, the programme provides financial aid to develop the interconnected cold chain system. These factors may lead to market growth during the time of forecasting.

Regional Outlook

In 2019, the industry was led by North America, contributing significantly in global sales. This is because frozen products in various different kinds such as bowls, pans, and oven sets, and high-quality pizzas have been vigorously and easily put on the market. In the next seven years, food producers are expected to raise demand. The demand development in the pharmaceutical industry has been also stimulated by running clinical studies and testing to avoid the spread of the COVID-19 pandemic in North America.

 

Asia-Pacific is expected to be the most lucrative regional sector, as the cold chain storage infrastructure in different countries including India, Japan, and China, offers fast growth opportunities. India, for example, is the world’s second-largest producer of vegetables and fruit. It is a difficult job to store and monitor the cooling of these large fruits and vegetables. The players in industry and government are both taking and implementing numerous steps to increase farm productivity and profits. Such governmental policies to promote cold chain systems could boost demand for industrial cooling systems in the Asia-Pacific region.

Market Segmentation

 ATTRIBUTE

  DETAILS

Study Period

  2015 – 2026

Base Year

  2019

Forecast Period

  2020 – 2026

Historical Period

  2016 – 2018

Unit

  Value (US$)

 

 

 

Segmentation

Market by ServiceType -

  • Compressors
  • Condensers
  • Evaporators
  • Controls
  • Others

Market by End Use-

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

 

Key Players and Strategies

 ATTRIBUTE

  DETAILS

Key Players

  • Danfoss Industries Pvt. Ltd.
  • Johnson Controls
  • Güntner GmbH & Co. KG
  • BITZER
  • EVAPCO, Inc.
  • DAIKIN INDUSTRIES, Ltd.
  • GEA Group Aktiengesellschaft
  • Others

 


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Table Of Contents

1. Introduction
1.1 Scope of The Study
1.2 Market Segmentation
1.2.1 Industrial Refrigeration Systems Market - By Service Type
1.2.2 Industrial Refrigeration Systems Market - By End Use
1.2.3Industrial Refrigeration Systems Market - By Region
1.2.3.1 By Country
2. Key Takeaways
3. Research Methodology
4. Industrial Refrigeration Systems Market Landscape
4.1 Overview
4.2 Pest Analysis
4.3 Ecosystem Analysis
5. Industrial Refrigeration Systems Market - Key Market Dynamics
5.1 Key Market Drivers
5.2 Key Market Restraints
5.3 Key Market Opportunities
5.4 Future Trends
5.5 Impact Analysis of Drivers and Restraints
5.6 Impact of Covid-19 Pandemic on Global Industrial Refrigeration Systems Market
6. Industrial Refrigeration Systems Market - Global Market Analysis
6.1 Industrial Refrigeration Systems - Global Market Overview
6.2 Industrial Refrigeration Systems - Global Market and Forecast To 2027
6.3 Market Positioning/Market Share
7. Industrial Refrigeration Systems Market - Revenue and Forecasts To 2027 – Service Type
7.1 Overview
7.2 Service Type Market Forecasts and Analysis
7.3 Compressors
7.4 Condensers
7.5 Evaporators
7.6 Controls
7.7Others
8. Industrial Refrigeration Systems Market - Revenue and Forecasts To 2027 – End Use
8.1 Overview
8.2 End Use Market Forecasts and Analysis
8.3. Refrigerated Warehouse
8.4 Food & Beverage
8.5Chemical, Petrochemical, & Pharmaceutical
8.6Refrigerated Transportation
8.7Others
9. Industrial Refrigeration Systems Market Revenue and Forecasts To 2027 – Geographical Analysis
9.1 North America
9.1.1 North America Industrial Refrigeration Systems Market Overview
9.1.2 North America Industrial Refrigeration Systems Market Forecasts and Analysis
9.1.3 North America Industrial Refrigeration Systems Market Forecasts and Analysis - By Service Type
9.1.4 North America Industrial Refrigeration Systems Market Forecasts and Analysis - By End Use
9.1.5 North America Industrial Refrigeration Systems Market Forecasts and Analysis - By Countries
9.1.5.1 United States Industrial Refrigeration Systems Market
9.1.5.1.1 United States Industrial Refrigeration Systems Market ByService Type
9.1.5.1.2 United States Industrial Refrigeration Systems Market ByEnd Use
9.1.5.2 Canada Industrial Refrigeration Systems Market
9.1.5.2.1 Canada Industrial Refrigeration Systems Market ByService Type
9.1.6.2.2 Canada Industrial Refrigeration Systems Market ByEnd Use
9.1.5.3 Mexico Industrial Refrigeration Systems Market
9.1.5.3.1 Mexico Industrial Refrigeration Systems Market ByService Type
9.1.5.3.2 Mexico Industrial Refrigeration Systems Market ByEnd Use
9.2 Europe
9.2.1 Europe Industrial Refrigeration Systems Market Overview
9.2.2 Europe Industrial Refrigeration Systems Market Forecasts And Analysis
9.2.3 Europe Industrial Refrigeration Systems Market Forecasts and Analysis - By Service Type
9.2.4 Europe Industrial Refrigeration Systems Market Forecasts and Analysis - By End Use
9.2.5 Europe Industrial Refrigeration Systems Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Industrial Refrigeration Systems Market
9.2.5.1.1 Germany Industrial Refrigeration Systems Market ByService Type
9.2.5.1.2 Germany Industrial Refrigeration Systems Market ByEnd Use
9.2.5.2 France Industrial Refrigeration Systems Market
9.2.5.2.1 France Industrial Refrigeration Systems Market ByService Type
9.2.5.2.2 France Industrial Refrigeration Systems Market ByEnd Use
9.2.5.3 Italy Industrial Refrigeration Systems Market
9.2.5.3.1 Italy Industrial Refrigeration Systems Market ByService Type
9.2.5.3.2 Italy Industrial Refrigeration Systems Market ByEnd Use
9.2.5.4 Spain Industrial Refrigeration Systems Market
9.2.5.4.1 Spain Industrial Refrigeration Systems Market ByService Type
9.2.5.4.2 Spain Industrial Refrigeration Systems Market ByEnd Use
9.2.5.5 UK Industrial Refrigeration Systems Market
9.2.5.5.1 UK Industrial Refrigeration Systems Market ByService Type
9.2.5.5.2 UKIndustrial Refrigeration Systems Market ByEnd Use
9.3 Asia-Pacific
9.3.1 Asia-Pacific Industrial Refrigeration Systems Market Overview
9.3.2 Asia-Pacific Industrial Refrigeration Systems Market Forecasts and Analysis
9.3.3 Asia-Pacific Industrial Refrigeration Systems Market Forecasts and Analysis - By Service Type
9.3.4 Asia-Pacific Industrial Refrigeration Systems Market Forecasts and Analysis - By End Use
9.3.5 Asia-Pacific Industrial Refrigeration Systems Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Industrial Refrigeration Systems Market
9.3.5.1.1 Australia Industrial Refrigeration Systems Market ByService Type
9.3.5.1.2 Australia Industrial Refrigeration Systems Market ByEnd Use
9.3.5.2 China Industrial Refrigeration Systems Market
9.3.5.2.1 China Industrial Refrigeration Systems Market ByService Type
9.3.5.2.2 China Industrial Refrigeration Systems Market ByEnd Use
9.3.5.3 India Industrial Refrigeration Systems Market
9.3.5.3.1 India Industrial Refrigeration Systems Market ByService Type
9.3.5.3.2 India Industrial Refrigeration Systems Market ByEnd Use
9.3.5.4 Japan Industrial Refrigeration Systems Market
9.3.5.4.1 Japan Industrial Refrigeration Systems Market ByService Type
9.3.5.4.2 Australia Industrial Refrigeration Systems Market ByEnd Use
9.3.5.5 South Korea Industrial Refrigeration Systems Market
9.3.5.5.1 South Korea Industrial Refrigeration Systems Market ByService Type
9.3.5.5.2 South Korea Industrial Refrigeration Systems Market ByEnd Use
9.4 Middle East & Africa
9.4.1 Middle East & AfricaIndustrial Refrigeration Systems Market Overview
9.4.2 Middle East & AfricaIndustrial Refrigeration Systems Market Forecasts and Analysis
9.4.3 Middle East & AfricaIndustrial Refrigeration Systems Market Forecasts and Analysis - By Service Type
9.4.4 Middle East & AfricaIndustrial Refrigeration Systems Market Forecasts and Analysis - By End Use
9.4.5 Middle East & Africa Industrial Refrigeration Systems Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Industrial Refrigeration Systems Market
9.4.5.1.1 South Africa Industrial Refrigeration Systems Market ByService Type
9.4.5.1.2 South Africa Industrial Refrigeration Systems Market ByEnd Use
9.4.5.2 Saudi Arabia Industrial Refrigeration Systems Market
9.4.5.2.1 Saudi Arabia Industrial Refrigeration Systems Market ByService Type
9.4.5.2.2 Saudi Arabia Industrial Refrigeration Systems Market ByEnd Use
9.4.5.3 U.A.E Industrial Refrigeration Systems Market
9.4.5.3.1 U.A.E Industrial Refrigeration Systems Market ByService Type
9.4.5.3.2 U.A.E Industrial Refrigeration Systems Market ByEnd Use
9.5South America
9.5.1 South AmericaIndustrial Refrigeration Systems Market Overview
9.5.2 South AmericaIndustrial Refrigeration Systems Market Forecasts and Analysis
9.5.3 South AmericaIndustrial Refrigeration Systems Market Forecasts and Analysis - By Service Type
9.5.4 South AmericaIndustrial Refrigeration Systems Market Forecasts and Analysis - By End Use
9.5.5South AmericaIndustrial Refrigeration Systems Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Industrial Refrigeration Systems Market
9.5.5.1.1 Brazil Industrial Refrigeration Systems Market ByService Type
9.5.5.1.2 Brazil Industrial Refrigeration Systems Market ByEnd Use
9.5.5.2 Argentina Industrial Refrigeration Systems Market
9.5.5.2.1 Argentina Industrial Refrigeration Systems Market ByService Type
9.5.5.2.2 Argentina Industrial Refrigeration Systems Market ByEnd Use
9.5.5.3 Chile Industrial Refrigeration Systems Market
9.5.5.3.1 Chile Industrial Refrigeration Systems Market ByService Type
9.5.5.3.2 Chile Industrial Refrigeration Systems Market ByEnd Use
10. Industry Landscape
10.1 Mergers and Acquisitions
10.2 Agreements, Collaborations and Join Ventures
10.3 New Service Type Launches
10.4 Expansions and Other Strategic Developments
11. Industrial Refrigeration Systems Market, Key Company Profiles
11.1 Danfoss Industries Pvt. Ltd.
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Service Types and Services
11.1.4 Financial Overview
11.1.5 Key Developments
11.2 Johnson Controls
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Service Types and Services
11.2.4 Financial Overview
11.2.5 Key Developments
11.3 Güntner GmbH & Co. KG
11.3.1 Key Facts
11.3.2 Business Description
11.3.3Service Types and Services
11.3.4 Financial Overview
11.3.5 Key Developments
11.4 BITZER
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Service Types and Services
11.4.4 Financial Overview
11.4.5 Key Developments
11.5 EVAPCO, Inc.
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Service Types and Services
11.5.4. Financial Overview
11.5.5 Key Developments
11.6 Nexgenia Corporation
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Service Types and Services
11.6.4 Financial Overview
11.6.5 Key Developments
11.7 DAIKIN INDUSTRIES, Ltd.
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Service Types and Services
11.7.4 Financial Overview
11.7.5 Key Developments
11.8 GEA Group Aktiengesellschaft
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Service Types and Services
11.8.4 Financial Overview
11.8.5 Key Developments
11.9 Others
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Service Types and Services
11.9.4 Financial Overview
11.9.5. Key Developments
12. Appendix
12.1 About GlobeResearch
12.2 Glossary of Terms

Market Segmentation

 ATTRIBUTE

  DETAILS

Study Period

  2015 – 2026

Base Year

  2019

Forecast Period

  2020 – 2026

Historical Period

  2016 – 2018

Unit

  Value (US$)

 

 

 

Segmentation

Market by ServiceType -

  • Compressors
  • Condensers
  • Evaporators
  • Controls
  • Others

Market by End Use-

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

 

Key Players and Strategies

 ATTRIBUTE

  DETAILS

Key Players

  • Danfoss Industries Pvt. Ltd.
  • Johnson Controls
  • Güntner GmbH & Co. KG
  • BITZER
  • EVAPCO, Inc.
  • DAIKIN INDUSTRIES, Ltd.
  • GEA Group Aktiengesellschaft
  • Others

 


FAQs

Methodology

Research Methodology

Globe Research employs comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecast possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation that looks market from three different perspectives. Critical elements of methodology employed for all our studies include:

Preliminary data mining

Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.

Technical issues and trends are obtained from surveys, technical symposia and trade journals. Technical data is also gathered from intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.

Statistical model

Our market estimates and forecasts are derived through simulation models. A unique model is created customized for each study. Gathered information for market dynamics, technology landscape, application development and pricing trends is fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, and industry experience and domain expertise.

Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of technology landscape, regulatory frameworks, economic outlook and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:

    • Market drivers and restrains, along with their current and expected impact
    • Raw material scenario and supply v/s price trends
    • Regulatory scenario and expected developments
    • Current capacity and expected capacity additions up to 2027

We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.

Primary validation

This is the final step in estimating and forecasting for our reports. Exhaustive primary interviews are conducted, on face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation, but also provide critical insights into the market, current business scenario and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:

    • Market leading companies
    • Raw material suppliers
    • Product distributors
    • Buyers

The key objectives of primary research are as follows:

    • To validate our data in terms of accuracy and acceptability
    • To gain an insight in to the current market and future expectations

Data Collection Matrix

Perspective

Primary research

Secondary research

Supply side

  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data

Demand side

  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Industry Analysis Matrix

Qualitative analysis

Quantitative analysis

  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2027
  • Market revenue estimates and forecasts up to 2027, by technology
  • Market revenue estimates and forecasts up to 2027, by application
  • Market revenue estimates and forecasts up to 2027, by type
  • Market revenue estimates and forecasts up to 2027, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

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