Global Centralized Refrigeration Systems Market Size Study, by Components, by Refrigerant, by End Use, and Regional Forecasts 2022-2032

Description

The Global Centralized Refrigeration Systems Market was valued at approximately USD 28.33 billion in 2023 and is anticipated to expand at a CAGR of 5.20% over the forecast period 2024-2032. The increasing adoption of centralized refrigeration systems is primarily driven by the surging demand for energy-efficient cooling solutions across industrial and commercial sectors. As industries face stringent environmental regulations and sustainability mandates, enterprises are shifting toward low-global-warming-potential (GWP) refrigerants and eco-friendly technologies. These factors, coupled with advancements in smart refrigeration technologies, IoT-enabled monitoring systems, and predictive maintenance tools, are revolutionizing the industry and setting the stage for long-term growth.

The global landscape of refrigeration is undergoing a transformation fueled by significant technological innovations and regulatory pressures. Market players are increasingly integrating natural refrigerants like carbon dioxide and ammonia into their systems to mitigate environmental impact and comply with international sustainability goals. The shift toward automation and remote-controlled refrigeration units is further enhancing operational efficiency and reducing downtime, driving adoption rates. Additionally, the rise in cold storage demand due to the growing e-commerce and food supply chain industries has bolstered market expansion. However, high installation and maintenance costs pose a challenge to widespread implementation, particularly in small- and medium-scale enterprises.

Regionally, North America dominates the centralized refrigeration systems market, attributed to robust industrialization, strong regulatory frameworks, and the increasing adoption of sustainable refrigeration solutions. The U.S. and Canada are leading in technological advancements, with a high focus on reducing carbon footprints through government incentives for eco-friendly refrigerants. Europe is experiencing steady market growth, driven by the EU F-Gas Regulation and energy efficiency initiatives encouraging the adoption of natural refrigerants. Meanwhile, the Asia Pacific region is projected to register the fastest growth, primarily due to rapid urbanization, expanding retail and cold chain logistics, and increased governmental support for energy-efficient infrastructure in countries like China and India. Latin America and the Middle East & Africa are emerging markets, with increasing investments in industrial refrigeration infrastructure.

Major Market Players Included in This Report Are:

Danfoss A/S
Johnson Controls International plc
Emerson Electric Co.
Carrier Global Corporation
Bitzer SE
GEA Group AG
Daikin Industries, Ltd.
LU-VE S.p.A.
Mayekawa Mfg. Co., Ltd.
Hussmann Corporation
Baltimore Aircoil Company, Inc.
Blue Star Limited
Zanotti S.p.A.
Hillphoenix, Inc.
Star Refrigeration Ltd.

The Detailed Segments and Sub-Segment of the Market Are Explained Below:

By Components:

Compressors
Controls
Condensers
Evaporators
Others

By Refrigerant:

F-Gas
Carbon dioxide
Ammonia
Others

By End Use:

Commercial
Industrial

By Region:

North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
Rest of Europe
Asia Pacific
China
India
Japan
Australia
South Korea
Rest of Asia Pacific
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Years Considered for the Study Are As Follows:

Historical Year: 2022
Base Year: 2023
Forecast Period: 2024-2032

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional-level analysis for each market segment.
Detailed analysis of geographical landscape with country-level insights into major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approaches.
Analysis of competitive structure of the market.
Demand-side and supply-side analysis of the market.

Chapter 1. Global Centralized Refrigeration Systems Market Executive Summary

1.1. Global Centralized Refrigeration Systems Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Components & Refrigerant
- 1.3.2. By End Use
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Centralized Refrigeration Systems Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory Frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Centralized Refrigeration Systems Market Dynamics

3.1. Market Drivers
- 3.1.1. Surging demand for energy-efficient cooling solutions
- 3.1.2. Transition to low-GWP and eco-friendly refrigerants
- 3.1.3. Rapid expansion of e-commerce and cold chain industries
3.2. Market Challenges
- 3.2.1. High installation and maintenance costs
- 3.2.2. Complexity in adopting advanced refrigerant solutions
3.3. Market Opportunities
- 3.3.1. Emergence of IoT-enabled, remote-controlled refrigeration systems
- 3.3.2. Government incentives for sustainable refrigeration solutions
- 3.3.3. Growth potential in developing economies

Chapter 4. Global Centralized Refrigeration Systems Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top Investment Opportunity
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Centralized Refrigeration Systems Market Size & Forecasts by Components & Refrigerant 2022-2032

5.1. Segment Dashboard
5.2. Global Centralized Refrigeration Systems Market: Components Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 5.2.1. Compressors
- 5.2.2. Controls
- 5.2.3. Condensers
- 5.2.4. Evaporators
- 5.2.5. Others
5.3. Global Centralized Refrigeration Systems Market: Refrigerant Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 5.3.1. F-Gas
- 5.3.2. Carbon dioxide
- 5.3.3. Ammonia
- 5.3.4. Others

Chapter 6. Global Centralized Refrigeration Systems Market Size & Forecasts by End Use 2022-2032

6.1. Segment Dashboard
6.2. Global Centralized Refrigeration Systems Market: End Use Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 6.2.1. Commercial
- 6.2.2. Industrial

Chapter 7. Global Centralized Refrigeration Systems Market Size & Forecasts by Region 2022-2032

7.1. North America Centralized Refrigeration Systems Market
- 7.1.1. U.S. Centralized Refrigeration Systems Market
  - 7.1.1.1. By Components & Refrigerant breakdown size & forecasts, 2022-2032
  - 7.1.1.2. By End Use breakdown size & forecasts, 2022-2032
- 7.1.2. Canada Centralized Refrigeration Systems Market
7.2. Europe Centralized Refrigeration Systems Market
- 7.2.1. UK Centralized Refrigeration Systems Market
- 7.2.2. Germany Centralized Refrigeration Systems Market
- 7.2.3. France Centralized Refrigeration Systems Market
- 7.2.4. Spain Centralized Refrigeration Systems Market
- 7.2.5. Italy Centralized Refrigeration Systems Market
- 7.2.6. Rest of Europe Centralized Refrigeration Systems Market
7.3. Asia-Pacific Centralized Refrigeration Systems Market
- 7.3.1. China Centralized Refrigeration Systems Market
- 7.3.2. India Centralized Refrigeration Systems Market
- 7.3.3. Japan Centralized Refrigeration Systems Market
- 7.3.4. Australia Centralized Refrigeration Systems Market
- 7.3.5. South Korea Centralized Refrigeration Systems Market
- 7.3.6. Rest of Asia Pacific Centralized Refrigeration Systems Market
7.4. Latin America Centralized Refrigeration Systems Market
- 7.4.1. Brazil Centralized Refrigeration Systems Market
- 7.4.2. Mexico Centralized Refrigeration Systems Market
- 7.4.3. Rest of Latin America Centralized Refrigeration Systems Market
7.5. Middle East & Africa Centralized Refrigeration Systems Market
- 7.5.1. Saudi Arabia Centralized Refrigeration Systems Market
- 7.5.2. South Africa Centralized Refrigeration Systems Market
- 7.5.3. Rest of Middle East & Africa Centralized Refrigeration Systems Market

Chapter 8. Competitive Intelligence

8.1. Key Company SWOT Analysis
- 8.1.1. Danfoss A/S
- 8.1.2. Johnson Controls International plc
- 8.1.3. Emerson Electric Co.
8.2. Top Market Strategies
8.3. Company Profiles
- 8.3.1. Danfoss A/S
  - 8.3.1.1. Key Information
  - 8.3.1.2. Overview
  - 8.3.1.3. Financial (Subject to Data Availability)
  - 8.3.1.4. Product Summary
  - 8.3.1.5. Market Strategies
- 8.3.2. Johnson Controls International plc
- 8.3.3. Emerson Electric Co.
- 8.3.4. Carrier Global Corporation
- 8.3.5. Bitzer SE
- 8.3.6. GEA Group AG
- 8.3.7. Daikin Industries, Ltd.
- 8.3.8. LU-VE S.p.A.
- 8.3.9. Mayekawa Mfg. Co., Ltd.
- 8.3.10. Hussmann Corporation
- 8.3.11. Baltimore Aircoil Company, Inc.
- 8.3.12. Blue Star Limited
- 8.3.13. Zanotti S.p.A.
- 8.3.14. Hillphoenix, Inc.
- 8.3.15. Star Refrigeration Ltd.

Chapter 9. Research Process

9.1. Research Process
- 9.1.1. Data Mining
- 9.1.2. Analysis
- 9.1.3. Market Estimation
- 9.1.4. Validation
- 9.1.5. Publishing
9.2. Research Attributes