Industrial Refrigeration Systems Market by Equipment, Refrigerant Type, Application, & Geography - Global Forecast to 2022

  • ID: 3945402
  • Report
  • Region: Global
  • 157 Pages
  • Markets and Markets
1 of 5
The Global Industrial Refrigeration Systems Market is Expected to Reach USD 23.22 Billion by 2022, at a CAGR of 5.24% Between 2016 and 2022

FEATURED COMPANIES

  • Daikin Industries, Ltd.
  • Emerson Electric Co.
  • Evapco, Inc.
  • GEA Group AG
  • Ingersoll-Rand PLC
  • Johnson Controls, Inc.
  • MORE

"Industrial Refrigeration Systems Market by Equipment (Compressors, Condensers, Evaporators), Refrigerant Type (Ammonia, CO2, HFCS), Application (Fruits & Vegetables Processing, Beverages, Refrigerated Warehouses), & Geography - Global Forecast to 2022"

"Global industrial refrigeration systems market expected to grow at a significant rate"

The global industrial refrigeration systems market is expected to grow at a CAGR of 5.24% between 2016 and 2022 to reach USD 23.22 billion by 2022. Changing international regulations towards adopting environmentally-friendly refrigerants and strengthening of the cold-chain infrastructure by developing countries are some of the major factors driving the growth of the industrial refrigeration systems market worldwide. However, the market is expected to be hindered by high initial costs and other operating expenses associated with natural refrigerant-based alternatives to the existing refrigeration systems.

"Ammonia-based industrial refrigeration systems held the largest market share in 2015"

Ammonia-based industrial refrigeration systems are currently most widely used across various applications, including refrigerated warehouses, fruits and vegetables processing, and beverages industries. However, ammonia still faces issues due to its toxicity levels and possible health risks associated with its accidental leakage. Considering various properties such as excellent thermodynamic properties, high energy efficiency, non-toxicity, and non-flammability; CO2 refrigerant-based industrial refrigeration systems are expected to grow at the highest rate during the forecast period.

"North America and Asia-Pacific to hold the major markets for industrial refrigeration systems"

North America is among the most favorable market for many leading industrial refrigeration systems’ manufacturers. The refrigerated warehouses application holds a considerable demand for industrial refrigeration systems across North American region. In APAC, developing nations such as China and India hold strong potential for the growth of industrial refrigeration systems, owing to the rising demand from refrigerated transportation and refrigerated warehouses applications.

In the process of determining and verifying the market size for several segments and subsegments gathered through the secondary research, extensive primary interviews have been conducted with key people in the industrial refrigeration systems market space.

The break-up of primary participants for the report has been shown below:

  • By Company Type: Tier 1- 47%, Tier 2 - 35%, and Tier 3 - 18%
  • By Designation: C-level Executives - 30%, Directors - 54%, and Others - 16%
  • By Region: Americas - 35%, Europe - 50%, Asia-Pacific - 10%, and RoW - 5%

The report profiles the key players in the industrial refrigeration systems market with their respective market share analysis. The prominent players profiled in this report are Johnson Controls, Inc. (U.S.), Emerson Electric Co. (U.S.), Ingersoll Rand Plc (Ireland), GEA Group AG (Germany), The Danfoss Group (Denmark), Daikin Industries, Ltd. (Japan), United Technologies Corporation (U.S.), Mayekawa Mfg. Co. Ltd. (Japan), Evapco, Inc. (U.S.), Lennox International Inc. (U.S.), BITZER Kuhlmaschinenbau GmbH (Germany), Baltimore Aircoil Company (U.S.), and LU-VE Group (Italy).

Study Coverage:

This research report categorizes the global industrial refrigeration systems market on the basis of equipment, refrigerant type, application, and region. The report describes market dynamics that include key drivers, restraints, challenges, and opportunities with respect to industrial refrigeration systems market and forecast the same till 2022. The Porter’s five forces analysis has also been included in the report with a description of each of its forces and its respective impact on the industrial refrigeration systems market.

The report would help leaders/new entrants in this market in the following ways:

1. This report segments the industrial refrigeration systems market comprehensively and provides the closest market size projection for all subsegments across different regions.

2. The report helps stakeholders understand the pulse of the market and provides them with the information on key drivers, restraints, challenges, and opportunities for market growth.

3. This report would help stakeholders understand their competitors better and gain more insights to improve their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers and acquisitions.

READ MORE
Note: Product cover images may vary from those shown
2 of 5

FEATURED COMPANIES

  • Daikin Industries, Ltd.
  • Emerson Electric Co.
  • Evapco, Inc.
  • GEA Group AG
  • Ingersoll-Rand PLC
  • Johnson Controls, Inc.
  • MORE
1 Introduction

    1.1 Objectives of the Study

    1.2 Market Definition

    1.3 Market Scope

           1.3.1 Markets Covered

           1.3.2 Years Considered for the Study

    1.4 Currency

    1.5 Limitation

    1.6 Stakeholders

2 Research Methodology

    2.1 Research Data

           2.1.1 Secondary Data

                     2.1.1.1 Key Data From Secondary Sources

           2.1.2 Primary Data

                     2.1.2.1 Key Data From Primary Sources

                     2.1.2.2 Key Industry Insights

                     2.1.2.3 Breakdown of Primaries

    2.2 Market Size Estimation

           2.2.1 Bottom-Up Approach

           2.2.2 Top-Down Approach

    2.3 Market Breakdown and Data Triangulation

    2.4 Assumptions

3 Executive Summary

4 Premium Insights

    4.1 Lucrative Growth Opportunities in the Industrial Refrigeration Systems Market

    4.2 Market- Top Applications

    4.3 Market, By Application and Geography

    4.4 North America Expected to Dominate the Market

    4.5 Market, By Refrigerant Type, (2015, 2016, and 2022)

5 Market Overview

    5.1 Introduction

    5.2 Market Segmentation

           5.2.1 By Equipment

           5.2.2 By Refrigerant Type

           5.2.3 By Application

           5.2.4 By Geography

    5.3 Market Dynamics

           5.3.1 Drivers

                     5.3.1.1 Firm Regulations for Adopting Environmentally-Friendly Refrigerants and Energy-Efficient Refrigeration Systems

                     5.3.1.2 Strengthening of the Cold-Chain Infrastructure in Developing Countries

           5.3.2 Restraints

                     5.3.2.1 High Initial Costs and Other Expenses

           5.3.3 Opportunities

                     5.3.3.1 Potential Demand for Carbon Dioxide/Ammonia (CO2/NH3) Cascade Refrigeration Systems

                     5.3.3.2 Further Improvements in Efficiency and Lifetime of Refrigeration Systems By the Use of Natural Refrigerants

           5.3.4 Challenges

                     5.3.4.1 Lack of Skilled Personnel and Growing Concerns of Safety

6 Industry Trends

    6.1 Introduction

    6.2 Value Chain Analysis for Industrial Refrigeration Systems Market

    6.3 Porter’s Five Forces Analysis

           6.3.1 Intensity of Competitive Rivalry

           6.3.2 Threat of Substitutes

           6.3.3 Bargaining Power of Buyers

           6.3.4 Bargaining Power of Suppliers

           6.3.5 Threat of New Entrants

    6.4 Policies and Regulations

           6.4.1 Europe

                     6.4.1.1 Eu F-Gas Regulations

                     6.4.1.2 Montreal Protocol

           6.4.2 North America

                     6.4.2.1 Significant New Alternatives Policy (Snap) By EPA

           6.4.3 Asia-Pacific

                     6.4.3.1 Japan: Revised F-Gas Law

                     6.4.3.1 Australia

7 Industrial Refrigeration Systems Market, By Equipment

    7.1 Introduction

    7.2 Compressors

           7.2.1 Screw Compressors

           7.2.2 Reciprocating Compressors

    7.3 Condensers

           7.3.1 Evaporative Condensers

           7.3.2 Water-Cooled Condensers

           7.3.3 Air-Cooled Condensers

    7.4 Evaporators

           7.4.1 Air Cooling Evaporators

           7.4.2 Liquid Cooling Evaporators

    7.5 Controls

    7.6 Vessels, Pumps, Valves, and Auxiliary Equipment

8 Industrial Refrigeration Systems Market, By Refrigerant Type

    8.1 Introduction

    8.2 Ammonia

    8.3 CO2 Refrigerant

    8.4 HFC Refrigerant

    8.5 Other Refrigerants

           8.5.1 HCFC

           8.5.2 HC

9 Industrial Refrigeration Systems Market, By Application

    9.1 Introduction

    9.2 Fruits & Vegetables Processing Application

    9.3 Beverage Application

    9.4 Refrigerated Warehouse Application

    9.5 Chemicals & Pharmaceuticals Application

    9.6 Dairy & Ice-Cream Processing Application

    9.7 Meat, Poultry, & Fish Processing Application

    9.8 Refrigerated Transportation Application

10 Industrial Refrigeration Systems Market, By Geography

     10.1 Introduction

     10.2 North America

     10.3 Europe

     10.4 Asia-Pacific

     10.5 Rest of the World

11 Competitive Landscape

     11.1 Introduction

     11.2 Industrial Refrigeration Systems Market: Market Share Analysis

     11.3 Competitive Situations and Trends

               11.3.1 New Product Launches

               11.3.2 Expansions

               11.3.3 Mergers & Acquisitions

               11.3.4 Agreements, Partnerships and Collaborations

     11.4 Prominent Companies in Market

12 Company Profiles

     12.1 Introduction
(Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, Ratio Analysis, View)*

     12.2 Johnson Controls, Inc.

     12.3 Emerson Electric Co.

     12.4 Ingersoll-Rand PLC

     12.5 GEA Group AG

     12.6 The Danfoss Group

     12.7 Daikin Industries, Ltd.

     12.8 Bitzer Kuhlmaschinenbau GmbH

     12.9 United Technologies Corporation

     12.10 Mayekawa Mfg. Co. Ltd.

     12.11 LU-VE S.P.A.

     12.12 Lennox International Inc.

     12.13 Evapco, Inc.

     12.14 Baltimore Aircoil Company, Inc.

*Details on Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, View Might Not Be Captured in Case of Unlisted Companies.

13 Appendix

     13.1 Insights of Industry Experts

     13.2 Discussion Guide

List of Tables

Table 1 Industrial Refrigeration Systems Market, By Equipment, 2014-2022 (USD Billion)
Table 2 Market for Compressors, By Type, 2014-2022 (USD Billion)
Table 3 Market for Reciprocating Compressors, By Type, 2014-2022 (USD Million)
Table 4 Industrial Refrigeration Systems Market for Condensers, By Type, 2014-2022 (USD Million)
Table 5 Market for Evaporators, By Type, 2014-2022 (USD Million)
Table 6 Market, By Refrigerant Type, 2014-2022 (USD Billion)
Table 7 Market for Ammonia Refrigerant, By Application, 2014-2022 (USD Million)
Table 8 Market for Ammonia Refrigerant, By Region, 2014-2022 (USD Million)
Table 9 Market for CO2 Refrigerant, By Application, 2014-2022 (USD Million)
Table 10 Market for CO2 Refrigerant, By Region, 2014-2022 (USD Million)
Table 11 Market for HFC Refrigerant, By Application, 2014-2022 (USD Million)
Table 12 Market for HFC Refrigerant, By Region, 2014-2022 (USD Million)
Table 13 Market for Other Refrigerants, By Application, 2014-2022 (USD Million)
Table 14 Market for Other Refrigerants, By Region, 2014-2022 (USD Million)
Table 15 Market, By Application, 2014-2022 (USD Billion)
Table 16 Market for Fruits & Vegetables Processing Application, By Refrigerant Type, 2014-2022 (USD Million)
Table 17 Market for Fruits & Vegetables Processing Application, By Region, 2014-2022 (USD Million)
Table 18 Market for Beverage Application, By Refrigerant Type, 2014-2022 (USD Million)
Table 19 Market for Beverage Application, By Region, 2014-2022 (USD Million)
Table 20 Market for Refrigerated Warehouse Application, By Refrigerant Type, 2014-2022 (USD Million)
Table 21 Market for Refrigerated Warehouse Application, By Region, 2014-2022 (USD Million)
Table 22 Market for Chemicals & Pharmaceuticals Application, By Refrigerant Type, 2014-2022 (USD Million)
Table 23 Market for Chemicals & Pharmaceuticals Application, By Region, 2014-2022 (USD Million)
Table 24 Market for Dairy & Ice Cream Processing Application, By Refrigerant Type, 2014-2022 (USD Million)
Table 25 Industrial Refrigeration Systems Market for Dairy & Ice Cream Processing Application, By Region, 2014-2022 (USD Million)
Table 26 Market for Meat, Poultry, & Fish Processing Application, By Refrigerant Type, 2014-2022 (USD Million)
Table 27 Market for Meat, Poultry, & Fish Processing Application, By Region, 2014-2022 (USD Million)
Table 28 Market for Refrigerated Transportation Application, By Refrigerant Type, 2014-2022 (USD Million)
Table 29 Market for Refrigerated Transportation Application, By Region, 2014-2022 (USD Million)
Table 30 Market, By Region, 2014-2022 (USD Billion)
Table 31 Market in North America, By Country, 2014-2022 (USD Million)
Table 32 Market in North America, By Application, 2014-2022 (USD Million)
Table 33 Industrial Refrigeration Systems Market in North America, By Refrigerant Type, 2014-2022 (USD Million)
Table 34 Market in U.S., By Refrigerant Type, 2014-2022 (USD Million)
Table 35 Market in U.S., By Application, 2014-2022 (USD Million)
Table 36 Industrial Refrigeration Systems Market in Canada, By Refrigerant Type, 2014-2022 (USD Million)
Table 37 Market in Mexico, By Refrigerant Type, 2014-2022 (USD Million)
Table 38 Market in Europe, By Country, 2014-2022 (USD Million)
Table 39 Market in Europe, By Application, 2014-2022 (USD Million)
Table 40 Market in Europe, By Refrigerant Type, 2014-2022 (USD Million)
Table 41 Market in Germany, By Refrigerant Type, 2014-2022 (USD Million)
Table 42 Market in Germany, By Application, 2014-2022 (USD Million)
Table 43 Industrial Refrigeration Systems Market in U.K., By Refrigerant Type, 2014-2022 (USD Million)
Table 44 Market in U.K., By Application, 2014-2022 (USD Million)
Table 45 Market in France, By Refrigerant Type, 2014-2022 (USD Million)
Table 46 Market in France, By Application, 2014-2022 (USD Million)
Table 47 Market in Rest of Europe, By Refrigerant Type, 2014-2022 (USD Million)
Table 48 Market in Rest of Europe, By Application, 2014-2022 (USD Million)
Table 49 Market in Asia-Pacific, By Country, 2014-2022 (USD Million)
Table 50 Market in Asia-Pacific, By Application, 2014-2022 (USD Million)
Table 51 Market in Asia-Pacific, By Refrigerant Type, 2014-2022 (USD Million)
Table 52 Market in China, By Refrigerant Type, 2014-2022 (USD Million)
Table 53 Market in China, By Application, 2014-2022 (USD Million)
Table 54 Market in Japan, By Refrigerant Type, 2014-2022 (USD Million)
Table 55 Market in Japan, By Application, 2014-2022 (USD Million)
Table 56 Market in India, By Refrigerant Type, 2014-2022 (USD Million)
Table 57 Market in Rest of APAC, By Refrigerant Type, 2014-2022 (USD Million)
Table 58 Market in RoW, By Country, 2014-2022 (USD Million)
Table 59 Market in RoW, By Application, 2014-2022 (USD Million)
Table 60 Market in RoW, By Refrigerant Type, 2014-2022 (USD Million)
Table 61 New Product Launches, 2014-2016
Table 62 Expansions, 2014-2016
Table 63 Acquisitions, 2014-2016
Table 64 Agreements, Partnerships and Collaborations, 2014-2016
Table 65 Ingersoll-Rand PLC  : Product Portfolio

List of Figures

Figure 1 Industrial Refrigeration Systems Market Segmentation
Figure 2 Market: Research Design
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Market: Data Triangulation Model
Figure 6 Industrial Refrigeration System Market, 2014-2022 (USD Billion)
Figure 7 CO2 Refrigerant to Witness the Highest Growth During the Forecast Period
Figure 8 Industrial Refrigeration System Market, By Equipment, 2014-2022 (USD Million)
Figure 9 Refrigerated Transportation Sector to Be Potential Market During the Forecast Period
Figure 10 Industrial Refrigeration System Market, By Region, 2015
Figure 11 Strong Demand From Countries in APAC Region Expected to Drive the Industrial Refrigeration Systems Market Between 2016 and 2022
Figure 12 Refrigerated Transportation Application Expected to Witness the Highest Growth Rate During the Forecast Period
Figure 13 North America Held the Largest Share of the Market in 2015
Figure 14 Market in India Expected to Grow at the Highest Rate Between 2016 and 2022
Figure 15 Ammonia Refrigerant Market Continue to Lead the Global Market During the Forecast Period
Figure 16 Drivers, Restraints, Opportunities, and Challenges for the Market
Figure 17 Market: Value Chain Analysis
Figure 18 Porter’s Five Forces Analysis , 2015
Figure 19 Porter’s Five Forces Analysis for Industrial Refrigeration Systems Market
Figure 20 Market: Intensity of Competitive Rivalry
Figure 21 Industrial Refrigeration Systems Market: Threat of Substitutes
Figure 22 Market: Bargaining Power of Buyers
Figure 23 Market: Bargaining Power of Suppliers
Figure 24 Market: Threat of New Entrants
Figure 25 Compressors Expected to Be the Largest Market Between 2016 & 2022
Figure 26 Market, By Refrigerant Type
Figure 27 CO2-Based Industrial Refrigeration Systems Estimated to Grow at the Highest Rate During the Forecast Period
Figure 28 Market, By Application
Figure 29 Refrigerated Transportation Expected to Grow at the Highest Rate Between 2016 & 2022
Figure 30 Market: By Geography
Figure 31 Geographical Snapshot of the Market, 2015
Figure 32 North America: Market Snapshot, 2015
Figure 33 Germany Accounted for the Largest Share in the European Industrial Refrigeration Systems Market in 2015
Figure 34 Asia-Pacific: Market Snapshot
Figure 35 South America Expected to Hold the Major Market Between 2016 and 2022
Figure 36 Companies Majorly Adopted New Product Launch as the Key Growth Strategy Over the Last Three Years (2014-2016)
Figure 37 Global Market Share, By Key Player, 2015
Figure 38 Market Evolution Framework-New Product Launched Fueled the Market Growth in 2015
Figure 39 Battle for Market Share: New Product Launches Were the Key Strategies (2014-2016)
Figure 40 Geographic Revenue Mix of Top Three Market Players
Figure 41 Johnson Controls, Inc.: Company Snapshot
Figure 42 Johnson Controls Inc. : SWOT Analysis
Figure 43 Emerson Electric Co.: Company Snapshot
Figure 44 Emerson Electric Co. : SWOT Analysis
Figure 45 Ingersoll-Rand PLC.: Company Snapshot
Figure 46 Ingersoll-Rand PLC  : SWOT Analysis
Figure 47 GEA Group AG: Company Snapshot
Figure 48 GEA Group AG : SWOT Analysis
Figure 49 The Danfoss Group: Company Snapshot
Figure 50 The Danfoss Group : SWOT Analysis
Figure 51 Daikin Industries, Ltd. : Company Snapshot
Figure 52 United Technologies Corporation : Company Snapshot
Figure 53 Lennox International Inc.: Company Snapshot
Note: Product cover images may vary from those shown
3 of 5

Loading
LOADING...

4 of 5

FEATURED COMPANIES

  • Daikin Industries, Ltd.
  • Emerson Electric Co.
  • Evapco, Inc.
  • GEA Group AG
  • Ingersoll-Rand PLC
  • Johnson Controls, Inc.
  • MORE

The global industrial refrigeration systems market is expected to reach USD 23.22 Billion by 2022, at a CAGR of 5.24% between 2016 and 2022. The market is expected to grow substantially owing to factors such as the stringent regulatory standards towards the adoption of environmentally-friendly or natural refrigerants and strengthening of cold-chain infrastructure in developing countries.

The equipment market of industrial refrigeration systems has been segmented into compressors, condensers, evaporators, controls, vessels, pumps, valves, and auxiliary equipment. The compressors market has been further classified into screw and reciprocating compressors. The Condensers market has been segmented into evaporative, and air-cooled and water-cooled. Air-cooled and liquid chillers are different types of evaporators available. Among the overall equipment market of industrial refrigeration systems, the market for controls is expected to grow at a higher rate because of the increasing significance of controls and software in the future, especially in improving the energy efficiency of existing refrigeration systems.

The market for the CO2 refrigerant-based industrial refrigeration systems is expected to grow at the highest rate by 2022. Many end users in the food and beverage application are focused on using of CO2 as a preferred refrigerant type, especially as a secondary refrigerant and also in NH3/CO2 cascade systems. Such trend is more prominent among developed countries across North America and Europe region, which is expected to drive the market for CO2 refrigerant type at the highest rate during the forecast period.

In 2015, North America led the industrial refrigeration systems market, followed by Europe and Asia-Pacific. The U.S. held the largest share of the North American industrial refrigeration systems market, owing to the presence of wide end-user base in the U.S., followed by Canada and Mexico.

Industrial Refrigeration Systems Market

However, the industrial refrigeration systems market faces some challenges associated with growing concerns about safety issues and lack of skilled personnel for handling certain refrigerant-based systems. The high initial costs and other expenses, such as long-term maintenance costs, acts as one of the restraints in the industrial refrigeration systems market growth. This report describes drivers, restraints, opportunities, and challenges pertaining to the market. Furthermore, it analyzes the current scenario and forecasts the market till 2022, including the market segmentation based on equipment, refrigerant type, application, and region.

Some of the major companies in the industrial refrigeration system market include Johnson Controls, Inc. (U.S.), Emerson Electric Co. (U.S.), Ingersoll Rand Plc (Ireland), GEA Group AG (Germany), The Danfoss Group (Denmark), Daikin Industries, Ltd. (Japan), United Technologies Corporation (U.S.), Mayekawa Mfg. Co. Ltd. (Japan), Evapco, Inc. (U.S.), Lennox International Inc. (U.S.), BITZER Kuhlmaschinenbau GmbH (Germany), Baltimore Aircoil Company (U.S.), and LU-VE Group (Italy).

Note: Product cover images may vary from those shown
5 of 5
  • Baltimore Aircoil Company, Inc.
  • Bitzer Kuhlmaschinenbau GmbH
  • Daikin Industries, Ltd.
  • Emerson Electric Co.
  • Evapco, Inc.
  • GEA Group AG
  • Ingersoll-Rand PLC
  • Johnson Controls, Inc.
  • LU-VE S.P.A.
  • Lennox International Inc.
  • Mayekawa Mfg. Co. Ltd.
  • The Danfoss Group
  • United Technologies Corporation
Note: Product cover images may vary from those shown
6 of 5
Note: Product cover images may vary from those shown
Adroll
adroll