Learn about the global industrial refrigeration equipment market through The Business Research Company, which provides information on industrial refrigeration equipment market size, industrial refrigeration equipment market drivers and restraints, industrial refrigeration equipment market players, the COVID-19 impact on the industrial refrigeration equipment market, and more.

The global industrial refrigeration equipment market size is expected to grow from $33.97 billion in 2021 to $35.91 billion in 2022 at a compound annual growth rate (CAGR) of 5.7%. The global industrial refrigeration equipment market size is expected to grow to $45.85 billion in 2026 at a compound annual growth rate (CAGR) of 6.3%.

The growth of the food and beverage processing industry especially in developing countries is expected to drive the industrial refrigeration equipment market.

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The industrial refrigeration equipment market consists of sales of industrial refrigeration equipment by entities (organizations, sole traders, and partnerships) that produce industrial refrigeration equipment such as chillers, refrigeration compressors, condensers, cooling towers, and others, which are used in food, distillery, dairy, and other industries. Only goods and services traded between entities or sold to end consumers are included.

Global Industrial Refrigeration Equipment Market Segments Include:

By Equipment Type: Condenser; Compressor; Evaporator; Controls

By Refrigerant Type: Ammonia; Carbon Dioxide; Hydrofluorocarbon

By End-User Industry: Food and Beverage; Refrigerated Warehouse; Chemical; Petrochemical; Pharmaceutical; Refrigerated Transportation; Other End-User Industries

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific was the largest region in the industrial refrigeration equipment market in 2021.

The trend of adoption of environment-friendly refrigerants is increasing within the industrial refrigeration equipment market, which is expected to fuel the growth of the market. A major contribution towards environmental concerns such as ozone layer depletion and global warming are contributed by refrigerants as they absorb infrared radiation and retain it in the atmosphere. The environment-friendly refrigerants do not deplete the ozone layer in the atmosphere, do not contribute to global warming, and have low Global Warming Potential (GWP). Halogen-based refrigerants face stringent regulations by governments of several countries and this is strengthening the use of environment-friendly refrigerants.

TBRC’s industrial refrigeration equipment market report covers:

Major Market Players: Johnson Controls Inc, Emerson Electric Co, United Technologies Corporation, Ingersoll-Rand plc, Lennox International Inc, Danfoss A/S, GEA Group AG, EVAPCO Inc, BITZER Kühlmaschinenbau GmbH, and Mayekawa Mfg. Co. Ltd.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)

The Industrial Refrigeration Equipment Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides industrial refrigeration equipment market overviews, analyzes and forecasts market size, share, industrial refrigeration equipment market players, industrial refrigeration equipment market segments and geographies, leading competitor revenues, profiles and market shares.

TBRC’s industrial refrigeration equipment market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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