Industrial Refrigeration Equipment Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2024-2031

Description

Persistence Market Research has recently released a comprehensive report on the global Industrial Refrigeration Equipment Market, providing an in-depth analysis of key market dynamics, including driving forces, emerging trends, opportunities, and challenges. This report offers a detailed understanding of the market landscape, helping stakeholders make well-informed decisions.

Key Insights:

Industrial Refrigeration Equipment Market Size (2024E): US$30.8 Bn
Projected Market Value (2031F): US$45.2 Bn
Global Market Growth Rate (CAGR 2024 to 2031):5.6%

Industrial Refrigeration Equipment Market - Report Scope:

The global industrial refrigeration equipment market encompasses a variety of equipment used in industrial applications, including ammonia-based systems, compressors, condensers, evaporators, and controls. The market is driven by the rising demand for refrigeration in sectors such as food and beverage processing, cold storage, pharmaceuticals, and chemical industries. Technological advancements in energy-efficient refrigeration systems and the growing focus on reducing environmental impact further support market growth.

Market Growth Drivers:

The growth of the global industrial refrigeration equipment market is driven by several factors, including the increasing demand in the food and beverage industry due to a growing population and changing dietary preferences, the expansion of cold chain infrastructure in developing countries for safe transportation and storage of perishable goods, and stringent food safety regulations encouraging the adoption of advanced refrigeration systems. Additionally, the rising need for precise temperature control in pharmaceutical and chemical industries further fuels demand, while technological advancements like natural refrigerants, smart monitoring systems, and energy-efficient designs are shaping market trends.

Market Restraints:

Despite its strong growth potential, the industrial refrigeration equipment market faces several challenges, including high initial investment costs that pose a barrier for small and medium-sized enterprises, regular maintenance requirements and the technical complexity of advanced systems, environmental concerns over refrigerants with high global warming potential prompting a shift to eco-friendly alternatives, and the impact of fluctuating energy prices on affordability and operational efficiency.

Market Opportunities:

The industrial refrigeration equipment market presents significant growth opportunities, including the adoption of natural refrigerants like ammonia and CO2 to meet environmental regulations, expansion in emerging markets driven by industrialization and infrastructure investments in regions such as Asia-Pacific, Latin America, and Africa, the integration of IoT and automation for smarter and more efficient system monitoring, and a growing focus on energy efficiency to address rising energy costs and regulatory requirements, fostering the development of advanced, cost-effective refrigeration systems.

Key Questions Answered in the Report:

What are the primary factors driving the global growth of the industrial refrigeration equipment market?
Which equipment types are gaining the highest adoption across different industries?
How are technological innovations influencing the competitive landscape of the market?
Who are the key players in the industrial refrigeration equipment market?
what strategies are they employing to maintain their market positions?
What are the emerging trends and future outlooks for the global industrial refrigeration equipment market?

Competitive Intelligence and Business Strategy:

Leading companies in the global industrial refrigeration equipment market, such as Johnson Controls International, GEA Group AG, and Emerson Electric Co., are focusing on innovation and expansion strategies to strengthen their market presence. These companies are investing in R&D to develop energy-efficient and eco-friendly refrigeration systems. Partnerships with food and beverage manufacturers, pharmaceutical companies, and logistics providers enhance market penetration and customer loyalty.

Companies are also leveraging digital technologies such as IoT-enabled monitoring systems and predictive maintenance to improve the reliability and efficiency of their equipment. Sustainability initiatives, including the adoption of natural refrigerants and recyclable materials, further help companies align with global environmental goals.

Key Companies Profiled:

Emerson Electric Co.
United Technologies Corporation
Parker Hannifin Corp
Danfoss A/S
Ingersoll-Rand plc
Lennox International Inc.
Dover Corporation
GEA Group AG
Daikin Industries, Ltd.
Others.

Industrial Refrigeration Equipment Research by Category:

By Equipment

Compressor
Condenser
Evaporator
Controls

By Application

Food Processing
Beverage Production
Chemicals & Pharmaceuticals
Petrochemicals
Energy
Logistics

By Region

North America
Latin America
Europe
Japan
APEJ
MEA

Product Code: PMRREP17908

1. Global Economic Outlook

2. Global Industrial Refrigeration Equipment Market - Executive Summary

3. Global Industrial Refrigeration Equipment Market Overview

3.1. Introduction
- 3.1.1. Global Industrial Refrigeration Equipment Market Taxonomy
- 3.1.2. Global Industrial Refrigeration Equipment Market Definition
3.2. Global Industrial Refrigeration Equipment Market Size (US$ Bn) and Forecast, 2024 - 2031
- 3.2.1. Global Industrial Refrigeration Equipment Market Y-o-Y Growth
3.3. Global Industrial Refrigeration Equipment Market Dynamics
3.4. Supply Chain
3.5. Cost Structure
3.6. Porter Five Forces
3.7. Key Participants Market Presence (Intensity Map) By Region

4. Global Industrial Refrigeration Equipment Market Analysis and Forecast 2024 - 2031

4.1. Global Industrial Refrigeration Equipment Market Size and Forecast By Equipment, 2024 - 2031
- 4.1.1. Compressor Market Size and Forecast, 2024 - 2031
  - 4.1.1.1. Revenue (US$ Bn) Comparison, By Region
  - 4.1.1.2. Market Share Comparison, By Region
  - 4.1.1.3. Y-o-Y growth Comparison, By Region
- 4.1.2. Condenser Market Size and Forecast, 2024 - 2031
  - 4.1.2.1. Revenue (US$ Bn) Comparison, By Region
  - 4.1.2.2. Market Share Comparison, By Region
  - 4.1.2.3. Y-o-Y growth Comparison, By Region
- 4.1.3. Evaporator Market Size and Forecast, 2024 - 2031
  - 4.1.3.1. Revenue (US$ Bn) Comparison, By Region
  - 4.1.3.2. Market Share Comparison, By Region
  - 4.1.3.3. Y-o-Y growth Comparison, By Region
- 4.1.4. Controls Market Size and Forecast, 2024 - 2031
  - 4.1.4.1. Revenue (US$ Bn) Comparison, By Region
  - 4.1.4.2. Market Share Comparison, By Region
  - 4.1.4.3. Y-o-Y growth Comparison, By Region
4.2. Global Industrial Refrigeration Equipment Market Size and Forecast By Application, 2024 - 2031
- 4.2.1. Food Processing Market Size and Forecast, 2024 - 2031
  - 4.2.1.1. Revenue (US$ Bn) Comparison, By Region
  - 4.2.1.2. Market Share Comparison, By Region
  - 4.2.1.3. Y-o-Y growth Comparison, By Region
- 4.2.2. Beverage Production Market Size and Forecast, 2024 - 2031
  - 4.2.2.1. Revenue (US$ Bn) Comparison, By Region
  - 4.2.2.2. Market Share Comparison, By Region
  - 4.2.2.3. Y-o-Y growth Comparison, By Region
- 4.2.3. Chemicals & Pharmaceuticals Market Size and Forecast, 2024 - 2031
  - 4.2.3.1. Revenue (US$ Bn) Comparison, By Region
  - 4.2.3.2. Market Share Comparison, By Region
  - 4.2.3.3. Y-o-Y growth Comparison, By Region
- 4.2.4. Petro-chemicals Market Size and Forecast, 2024 - 2031
  - 4.2.4.1. Revenue (US$ Bn) Comparison, By Region
  - 4.2.4.2. Market Share Comparison, By Region
  - 4.2.4.2. Y-o-Y growth Comparison, By Region
- 4.2.5. Energy Market Size and Forecast, 2024 - 2031
  - 4.2.5.1. Revenue (US$ Bn) Comparison, By Region
  - 4.2.5.2. Market Share Comparison, By Region
  - 4.2.5.3. Y-o-Y growth Comparison, By Region
- 4.2.6. Logistics Market Size and Forecast, 2024 - 2031
  - 4.2.6.1. Revenue (US$ Bn) Comparison, By Region
  - 4.2.6.2. Market Share Comparison, By Region
  - 4.2.6.3. Y-o-Y growth Comparison, By Region

5. North America Industrial Refrigeration Equipment Market Size and Forecast, 2024 - 2031

5.1. North America Outlook
5.2. North America Parent Market Outlook
5.3. North America Target Market Outlook
5.4. Revenue (US$ Bn) Comparison, By Country
- 5.4.1. US Market Size and Forecast (US$ Bn), 2024 - 2031
- 5.4.2. Canada Market Size and Forecast (US$ Bn), 2024 - 2031
5.5. Revenue (US$ Bn) Comparison, By Equipment
5.6. Revenue (US$ Bn) Comparison, By Application

6. Latin America Industrial Refrigeration Equipment Market Size and Forecast, 2024 - 2031

6.1. Latin America Outlook
6.2. Latin America Parent Market Outlook
6.3. Latin America Target Market Outlook
6.4. Revenue (US$ Bn) Comparison, By Country
- 6.4.1. Brazil Market Size and Forecast (US$ Bn), 2024 - 2031
- 6.4.2. Mexico Market Size and Forecast (US$ Bn), 2024 - 2031
- 6.4.3. Rest of Latin America Market Size and Forecast (US$ Bn), 2024 - 2031
6.5. Revenue (US$ Bn) Comparison, By Equipment
6.6. Revenue (US$ Bn) Comparison, By Application

7. Europe Industrial Refrigeration Equipment Market Size and Forecast, 2024 - 2031

7.1. Europe Outlook
7.2. Europe Parent Market Outlook
7.3. Europe Target Market Outlook
7.4. Revenue (US$ Bn) Comparison, By Country
- 7.4.1. Germany Market Size and Forecast (US$ Bn), 2024 - 2031
- 7.4.2. France Market Size and Forecast (US$ Bn), 2024 - 2031
- 7.4.3. U.K. Market Size and Forecast (US$ Bn), 2024 - 2031
- 7.4.4. Italy Market Size and Forecast (US$ Bn), 2024 - 2031
- 7.4.5. Russia Market Size and Forecast (US$ Bn), 2024 - 2031
- 7.4.6. Rest of Europe Market Size and Forecast (US$ Bn), 2024 - 2031
7.5. Revenue (US$ Bn) Comparison, By Equipment
7.6. Revenue (US$ Bn) Comparison, By Application

8. Japan Industrial Refrigeration Equipment Market Size and Forecast, 2024 - 2031

8.1. Japan Outlook
8.2. Japan Parent Market Outlook
8.3. Japan Target Market Outlook
8.4. Revenue (US$ Bn) Comparison, By Country
- 8.4.1. Japan Market Size and Forecast (US$ Bn), 2024 - 2031
8.5. Revenue (US$ Bn) Comparison, By Equipment
8.6. Revenue (US$ Bn) Comparison, By Application

9. APEJ Industrial Refrigeration Equipment Market Size and Forecast, 2024 - 2031

9.1. APEJ Outlook
9.2. APEJ Parent Market Outlook
9.3. APEJ Target Market Outlook
9.4. Revenue (US$ Bn) Comparison, By Country
- 9.4.1. China Market Size and Forecast (US$ Bn), 2024 - 2031
- 9.4.2. India Market Size and Forecast (US$ Bn), 2024 - 2031
- 9.4.3. ASEAN Market Size and Forecast (US$ Bn), 2024 - 2031
- 9.4.4. ANZ Market Size and Forecast (US$ Bn), 2024 - 2031
- 9.4.5. Rest of APEJ Market Size and Forecast (US$ Bn), 2024 - 2031
9.5. Revenue (US$ Bn) Comparison, By Equipment
9.6. Revenue (US$ Bn) Comparison, By Application

10. MEA Industrial Refrigeration Equipment Market Size and Forecast, 2024 - 2031

10.1. MEA Outlook
10.2. MEA Parent Market Outlook
10.3. MEA Target Market Outlook
10.4. Revenue (US$ Bn) Comparison, By Country
- 10.4.1. GCC Countries Market Size and Forecast (US$ Bn), 2024 - 2031
- 10.4.2. Northern Africa Market Size and Forecast (US$ Bn), 2024 - 2031
- 10.4.3. Turkey Market Size and Forecast (US$ Bn), 2024 - 2031
- 10.4.4. South Africa Market Size and Forecast (US$ Bn), 2024 - 2031
- 10.4.5. Rest of MEA Market Size and Forecast (US$ Bn), 2024 - 2031
10.5. Revenue (US$ Bn) Comparison, By Equipment
10.6. Revenue (US$ Bn) Comparison, By Application

11. Global Industrial Refrigeration Equipment Market Company Share, Competition Landscape and Company Profiles

11.1. Company Share Analysis
11.2. Competition Landscape
11.3. Company Profiles
- 11.3.1. Johnson Controls Inc.
- 11.3.2. Emerson Electric Co.
- 11.3.3. United Technologies Corporation
- 11.3.4. Parker Hannifin Corp
- 11.3.5. Danfoss A/S
- 11.3.6. Ingersoll-Rand plc
- 11.3.7. Lennox International Inc.
- 11.3.8. Dover Corporation
- 11.3.9. GEA Group AG
- 11.3.10. Daikin Industries, Ltd.