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*As the coronavirus disease (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Industrial Refrigeration System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025

Market Overview:

The global industrial refrigeration system market grew at a CAGR of around 6% during 2014-2019. Industrial refrigeration systems refer to large-scale freezing and refrigeration units used for cooling and removing heat from various products. These units require liquid refrigerants, such as ammonia (NH3) and carbon dioxide (CO2), a metering device, a compressor pump and an evaporator to operate. They remove heat from a low-temperature medium and transfer it to a high-temperature medium. This offers various advantages, such as rapid cooling, cost-effectiveness and minimal impact on the environment. As a result, industrial refrigeration units find extensive applications across various industrial sectors, such as food processing, cold storage, pharmaceutical, petrochemical and liquified natural gas (LNG) liquefaction. 

Significant growth in the food and beverage industry is one of the key factors creating a positive outlook for the market. Due to changing lifestyles, dietary patterns and hectic schedules, consumers are increasingly opting for packed, processed and frozen ready-to-eat (RTE) food items. Furthermore, the increasing demand for compact and innovative refrigeration systems is favoring the market growth. The industrial refrigeration systems are also gaining immense traction across the globe due to improvements in the cold chain infrastructure that uses a series of cooling and freezing units for storage, production and processing applications. Additionally, various product innovations, such as the utilization of natural refrigerant-based systems and the development of units with the internet of things (IoT)-enabled monitoring systems, are acting as other growth-inducing factors. Natural refrigerants exhibit high thermodynamic properties with high energy efficiency, thereby making them suitable for industrial applications. Other factors, including rapid industrialization, along with the emerging trend of upgrading existing industrial refrigeration systems, are expected to drive the market further. Looking forward, IMARC Group expects the global industrial refrigeration system market to continue its moderate growth during the next five years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global industrial refrigeration system market report, along with forecasts for growth at the global, regional and country level from 2020-2025. Our report has categorized the market based on region, component, refrigerant type and application.

Breakup by Component:

  • Compressor
  • Condenser
  • Evaporator
  • Others
     

Breakup by Refrigerant Type:

  • Ammonia
  • Carbon Dioxide
  • Hydrofluorocarbon (HFC)
  • Others
     

Breakup by Application:

  • Fresh Fruits and Vegetables
  • Meat, Poultry and Fish
  • Dairy Products
  • Beverages
  • Chemicals
  • Pharmaceuticals
  • Others
     

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the key players being Baltimore Aircoil, Bitzer, Daikin, Danfoss, Evapco, GEA Group AG, Ingersoll-Rand, Johnson Controls, Lennox International, LU-VE Group, Mayekawa and United Technologies.

Key Questions Answered in This Report:

  • How has the global industrial refrigeration system market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global industrial refrigeration system market?
  • What are the key regional markets?
  • What is the breakup of the market based on the component?
  • What is the breakup of the market based on the refrigerant type?
  • What is the breakup of the market based on the application?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global industrial refrigeration system market and who are the key players?
  • What is the degree of competition in the industry?

1    Preface
2    Scope and Methodology 

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

    4.1    Overview
    4.2    Key Industry Trends
5    Global Industrial Refrigeration System Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Component
    6.1    Compressor
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Condenser
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3    Evaporator
        6.3.1 Market Trends
        6.3.2 Market Forecast
    6.4    Others
        6.4.1 Market Trends
        6.4.2 Market Forecast
7    Market Breakup by Refrigerant Type
    7.1    Ammonia
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Carbon Dioxide
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Hydrofluorocarbon (HFC)
        7.3.1 Market Trends
        7.3.2 Market Forecast
    7.4    Others
        7.4.1 Market Trends
        7.4.2 Market Forecast
8    Market Breakup by Application
    8.1    Fresh Fruits and Vegetables
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Meat, Poultry and Fish
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    Dairy Products
        8.3.1 Market Trends
        8.3.2 Market Forecast
    8.4    Beverages
        8.4.1 Market Trends
        8.4.2 Market Forecast
    8.5    Chemicals
        8.5.1 Market Trends
        8.5.2 Market Forecast
    8.6    Pharmaceuticals
        8.6.1 Market Trends
        8.6.2 Market Forecast
    8.7    Others
        8.7.1 Market Trends
        8.7.2 Market Forecast
9    Market Breakup by Region
    9.1    North America
        9.1.1 United States
           9.1.1.1 Market Trends
           9.1.1.2 Market Forecast
        9.1.2 Canada
           9.1.2.1 Market Trends
           9.1.2.2 Market Forecast
    9.2    Asia Pacific
        9.2.1 China
           9.2.1.1 Market Trends
           9.2.1.2 Market Forecast
        9.2.2 Japan
           9.2.2.1 Market Trends
           9.2.2.2 Market Forecast
        9.2.3 India
           9.2.3.1 Market Trends
           9.2.3.2 Market Forecast
        9.2.4 South Korea
           9.2.4.1 Market Trends
           9.2.4.2 Market Forecast
        9.2.5 Australia
           9.2.5.1 Market Trends
           9.2.5.2 Market Forecast
        9.2.6 Indonesia
           9.2.6.1 Market Trends
           9.2.6.2 Market Forecast
        9.2.7 Others
           9.2.7.1 Market Trends
           9.2.7.2 Market Forecast
    9.3    Europe
        9.3.1 Germany
           9.3.1.1 Market Trends
           9.3.1.2 Market Forecast
        9.3.2 France
           9.3.2.1 Market Trends
           9.3.2.2 Market Forecast
        9.3.3 United Kingdom
           9.3.3.1 Market Trends
           9.3.3.2 Market Forecast
        9.3.4 Italy
           9.3.4.1 Market Trends
           9.3.4.2 Market Forecast
        9.3.5 Spain
           9.3.5.1 Market Trends
           9.3.5.2 Market Forecast
        9.3.6 Russia
           9.3.6.1 Market Trends
           9.3.6.2 Market Forecast
        9.3.7 Others
           9.3.7.1 Market Trends
           9.3.7.2 Market Forecast
    9.4    Latin America
        9.4.1 Brazil
           9.4.1.1 Market Trends
           9.4.1.2 Market Forecast
        9.4.2 Mexico
           9.4.2.1 Market Trends
           9.4.2.2 Market Forecast
        9.4.3 Others
           9.4.3.1 Market Trends
           9.4.3.2 Market Forecast
    9.5    Middle East and Africa
        9.5.1 Market Trends
        9.5.2 Market Breakup by Country
        9.5.3 Market Forecast
10    SWOT Analysis
    10.1    Overview
    10.2    Strengths
    10.3    Weaknesses
    10.4    Opportunities
    10.5    Threats
11    Value Chain Analysis
12    Porters Five Forces Analysis

    12.1    Overview
    12.2    Bargaining Power of Buyers
    12.3    Bargaining Power of Suppliers
    12.4    Degree of Competition
    12.5    Threat of New Entrants
    12.6    Threat of Substitutes
13    Price Analysis
14    Competitive Landscape

    14.1    Market Structure
    14.2    Key Players
    14.3    Profiles of Key Players
        14.3.1    Baltimore Aircoil
           14.3.1.1 Company Overview
           14.3.1.2 Product Portfolio 
        14.3.2    Bitzer
           14.3.2.1 Company Overview
           14.3.2.2 Product Portfolio 
           14.3.2.3 Financials
        14.3.3    Daikin
           14.3.3.1 Company Overview
           14.3.3.2 Product Portfolio 
           14.3.3.3 Financials
           14.3.3.4 SWOT Analysis
        14.3.4    Danfoss
           14.3.4.1 Company Overview
           14.3.4.2 Product Portfolio 
           14.3.4.3 Financials
           14.3.4.4 SWOT Analysis
        14.3.5    Evapco
           14.3.5.1 Company Overview
           14.3.5.2 Product Portfolio 
        14.3.6    GEA Group AG
           14.3.6.1 Company Overview
           14.3.6.2 Product Portfolio 
        14.3.7    Ingersoll-Rand
           14.3.7.1 Company Overview
           14.3.7.2 Product Portfolio 
        14.3.8    Johnson Controls
           14.3.8.1 Company Overview
           14.3.8.2 Product Portfolio 
           14.3.8.3 Financials
           14.3.8.4 SWOT Analysis
        14.3.9    Lennox International
           14.3.9.1 Company Overview
           14.3.9.2 Product Portfolio 
           14.3.9.3 Financials
           14.3.9.4 SWOT Analysis
        14.3.10    LU-VE Group
           14.3.10.1 Company Overview
           14.3.10.2 Product Portfolio 
           14.3.10.3 Financials
        14.3.11    Mayekawa
           14.3.11.1 Company Overview
           14.3.11.2 Product Portfolio 
        14.3.12    United Technologies
           14.3.12.1 Company Overview
           14.3.12.2 Product Portfolio 

List of Figures

Figure 1: Global: Industrial Refrigeration System Market: Major Drivers and Challenges
Figure 2: Global: Industrial Refrigeration System Market: Sales Value (in Billion US$), 2014-2019
Figure 3: Global: Industrial Refrigeration System Market Forecast: Sales Value (in Billion US$), 2020-2025
Figure 4: Global: Industrial Refrigeration System Market: Breakup by Component (in %), 2019
Figure 5: Global: Industrial Refrigeration System Market: Breakup by Refrigerant Type (in %), 2019
Figure 6: Global: Industrial Refrigeration System Market: Breakup by Application (in %), 2019
Figure 7: Global: Industrial Refrigeration System Market: Breakup by Region (in %), 2019
Figure 8: Global: Industrial Refrigeration System (Compressor) Market: Sales Value (in Million US$), 2014 & 2019
Figure 9: Global: Industrial Refrigeration System (Compressor) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 10: Global: Industrial Refrigeration System (Condenser) Market: Sales Value (in Million US$), 2014 & 2019
Figure 11: Global: Industrial Refrigeration System (Condenser) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 12: Global: Industrial Refrigeration System (Evaporator) Market: Sales Value (in Million US$), 2014 & 2019
Figure 13: Global: Industrial Refrigeration System (Evaporator) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 14: Global: Industrial Refrigeration System (Other Components) Market: Sales Value (in Million US$), 2014 & 2019
Figure 15: Global: Industrial Refrigeration System (Other Components) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 16: Global: Industrial Refrigeration System (Ammonia) Market: Sales Value (in Million US$), 2014 & 2019
Figure 17: Global: Industrial Refrigeration System (Ammonia) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 18: Global: Industrial Refrigeration System (Carbon Dioxide) Market: Sales Value (in Million US$), 2014 & 2019
Figure 19: Global: Industrial Refrigeration System (Carbon Dioxide) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 20: Global: Industrial Refrigeration System (Hydrofluorocarbon (HFC)) Market: Sales Value (in Million US$), 2014 & 2019
Figure 21: Global: Industrial Refrigeration System (Hydrofluorocarbon (HFC)) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 22: Global: Industrial Refrigeration System (Other Refrigerant Types) Market: Sales Value (in Million US$), 2014 & 2019
Figure 23: Global: Industrial Refrigeration System (Other Refrigerant Types) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 24: Global: Industrial Refrigeration System (Fresh Fruits and Vegetables) Market: Sales Value (in Million US$), 2014 & 2019
Figure 25: Global: Industrial Refrigeration System (Fresh Fruits and Vegetables) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 26: Global: Industrial Refrigeration System (Meat, Poultry and Fish) Market: Sales Value (in Million US$), 2014 & 2019
Figure 27: Global: Industrial Refrigeration System (Meat, Poultry and Fish) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 28: Global: Industrial Refrigeration System (Dairy Products) Market: Sales Value (in Million US$), 2014 & 2019
Figure 29: Global: Industrial Refrigeration System (Dairy Products) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 30: Global: Industrial Refrigeration System (Beverages) Market: Sales Value (in Million US$), 2014 & 2019
Figure 31: Global: Industrial Refrigeration System (Beverages) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 32: Global: Industrial Refrigeration System (Chemicals) Market: Sales Value (in Million US$), 2014 & 2019
Figure 33: Global: Industrial Refrigeration System (Chemicals) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 34: Global: Industrial Refrigeration System (Pharmaceuticals) Market: Sales Value (in Million US$), 2014 & 2019
Figure 35: Global: Industrial Refrigeration System (Pharmaceuticals) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 36: Global: Industrial Refrigeration System (Other Applications) Market: Sales Value (in Million US$), 2014 & 2019
Figure 37: Global: Industrial Refrigeration System (Other Applications) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 38: North America: Industrial Refrigeration System Market: Sales Value (in Million US$), 2014 & 2019
Figure 39: North America: Industrial Refrigeration System Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 40: United States: Industrial Refrigeration System Market: Sales Value (in Million US$), 2014 & 2019
Figure 41: United States: Industrial Refrigeration System Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 42: Canada: Industrial Refrigeration System Market: Sales Value (in Million US$), 2014 & 2019
Figure 43: Canada: Industrial Refrigeration System Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 44: Asia Pacific: Industrial Refrigeration System Market: Sales Value (in Million US$), 2014 & 2019
Figure 45: Asia Pacific: Industrial Refrigeration System Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 46: China: Industrial Refrigeration System Market: Sales Value (in Million US$), 2014 & 2019
Figure 47: China: Industrial Refrigeration System Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 48: Japan: Industrial Refrigeration System Market: Sales Value (in Million US$), 2014 & 2019
Figure 49: Japan: Industrial Refrigeration System Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 50: India: Industrial Refrigeration System Market: Sales Value (in Million US$), 2014 & 2019
Figure 51: India: Industrial Refrigeration System Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 52: South Korea: Industrial Refrigeration System Market: Sales Value (in Million US$), 2014 & 2019
Figure 53: South Korea: Industrial Refrigeration System Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 54: Australia: Industrial Refrigeration System Market: Sales Value (in Million US$), 2014 & 2019
Figure 55: Australia: Industrial Refrigeration System Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 56: Indonesia: Industrial Refrigeration System Market: Sales Value (in Million US$), 2014 & 2019
Figure 57: Indonesia: Industrial Refrigeration System Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 58: Others: Industrial Refrigeration System Market: Sales Value (in Million US$), 2014 & 2019
Figure 59: Others: Industrial Refrigeration System Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 60: Europe: Industrial Refrigeration System Market: Sales Value (in Million US$), 2014 & 2019
Figure 61: Europe: Industrial Refrigeration System Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 62: Germany: Industrial Refrigeration System Market: Sales Value (in Million US$), 2014 & 2019
Figure 63: Germany: Industrial Refrigeration System Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 64: France: Industrial Refrigeration System Market: Sales Value (in Million US$), 2014 & 2019
Figure 65: France: Industrial Refrigeration System Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 66: United Kingdom: Industrial Refrigeration System Market: Sales Value (in Million US$), 2014 & 2019
Figure 67: United Kingdom: Industrial Refrigeration System Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 68: Italy: Industrial Refrigeration System Market: Sales Value (in Million US$), 2014 & 2019
Figure 69: Italy: Industrial Refrigeration System Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 70: Spain: Industrial Refrigeration System Market: Sales Value (in Million US$), 2014 & 2019
Figure 71: Spain: Industrial Refrigeration System Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 72: Russia: Industrial Refrigeration System Market: Sales Value (in Million US$), 2014 & 2019
Figure 73: Russia: Industrial Refrigeration System Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 74: Others: Industrial Refrigeration System Market: Sales Value (in Million US$), 2014 & 2019
Figure 75: Others: Industrial Refrigeration System Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 76: Latin America: Industrial Refrigeration System Market: Sales Value (in Million US$), 2014 & 2019
Figure 77: Latin America: Industrial Refrigeration System Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 78: Brazil: Industrial Refrigeration System Market: Sales Value (in Million US$), 2014 & 2019
Figure 79: Brazil: Industrial Refrigeration System Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 80: Mexico: Industrial Refrigeration System Market: Sales Value (in Million US$), 2014 & 2019
Figure 81: Mexico: Industrial Refrigeration System Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 82: Others: Industrial Refrigeration System Market: Sales Value (in Million US$), 2014 & 2019
Figure 83: Others: Industrial Refrigeration System Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 84: Middle East and Africa: Industrial Refrigeration System Market: Sales Value (in Million US$), 2014 & 2019
Figure 85: Middle East and Africa: Industrial Refrigeration System Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 86: Global: Industrial Refrigeration System Industry: SWOT Analysis
Figure 87: Global: Industrial Refrigeration System Industry: Value Chain Analysis
Figure 88: Global: Industrial Refrigeration System Industry: Porter’s Five Forces Analysis

List of Tables

Table 1: Global: Industrial Refrigeration System Market: Key Industry Highlights, 2019 and 2025
Table 2: Global: Industrial Refrigeration System Market Forecast: Breakup by Component (in Million US$), 2020-2025
Table 3: Global: Industrial Refrigeration System Market Forecast: Breakup by Refrigerant Type (in Million US$), 2020-2025
Table 4: Global: Industrial Refrigeration System Market Forecast: Breakup by Application (in Million US$), 2020-2025
Table 5: Global: Industrial Refrigeration System Market Forecast: Breakup by Region (in Million US$), 2020-2025
Table 6: Global: Industrial Refrigeration System Market: Competitive Structure
Table 7: Global: Industrial Refrigeration System Market: Key Players

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