Industrial Refrigeration Market by Offering, Component, Refrigerant Type, and Others), and Application - Global Opportunity Analysis and Industry Forecast, 2017-2024

  • ID: 4580635
  • Report
  • Region: Global
  • 277 pages
  • Allied Analytics LLP
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The global industrial refrigeration market is expected to reach $14,525.69 million in 2024, from $10,127.57 million in 2017, growing at a CAGR of 5.40% from 2018 to 2024. Industrial refrigeration systems are used for massive freezing and refrigeration plants that are involved in food & beverage processing, cold storage, and others. These systems remove the heat from a low-temperature medium and transferring it to a high-temperature medium.

The growth in demand for industrial refrigeration systems in the FMCG industry majorly drives the growth of the market, owing to the increased use of packaged & processed food & beverages in the developing countries and preventing spoilage of semi-processed foods and drinks. Furthermore, increase in trend of upgrading cold storage infrastructures across emerging economies drives the growth of the market. However, high energy consumption for operation and high investment in maintenance of industrial refrigeration systems hamper the growth of the industrial refrigeration market.

The application segment is divided into fruit & vegetable processing, beverage, refrigerated warehouse, chemical & pharmaceutical, dairy & ice-cream processing, meat, poultry & fish processing, refrigerated transportation, and others. In 2017, the refrigerated warehouse segment accounted for the highest market share due to increased demand for cold storage infrastructures in emerging economies and is expected to dominate the industrial refrigeration market during the forecast period. The global industrial refrigeration market is analyzed across North America (U.S., Canada & Mexico), Europe (UK, Germany, France, Russia, & others), Asia-Pacific (China, India, Japan, Australia, and others), and LAMEA (Latin America, Middle East & Africa). In 2017, Europe contributed the highest share in the industrial refrigeration market and is anticipated to secure the leading position during the forecast period, due to extensive demand in food & beverage industry.

The key players profiled in this report are Daikin Industries, Ltd., Emerson Electric Co.,
Evapco, Inc., GEA Group AG, Johnson Controls, Inc., Ingersoll Rand Plc, LU-VE Group,
Mayekawa Mfg. Co. Ltd., The Danfoss Group, and United Technologies Corporation.

KEY MARKET SEGMENTS

BY OFFERING
  • Industrial Refrigerator
  • Component
BY COMPONENT
  • Compressor
  • Condenser
  • Evaporator
  • Control
  • Others
BY REFRIGERANT TYPE
  • Ammonia
  • Carbon Dioxide
  • Hydrofluorocarbon (HFC)
  • Others
BY APPLICATION
  • Fruit & Vegetable Processing
  • Beverage
  • Refrigerated Warehouse
  • Chemical & Pharmaceutical
  • Dairy & Ice Cream Processing
  • Meat, Poultry, & Fish Processing
  • Refrigerated Transportation
  • Others
BY REGION
  • North America
  • U.S.
  • Mexico
  • Canada
  • Europe
  • UK
  • Germany
  • France
  • Russia
  • Rest of Europe
  • Asia-Pacific
  • China
  • Japan
  • India
  • Australia
  • Rest of Asia-Pacific
  • LAMEA
  • Latin America
  • Middle East
  • Africa
KEY PLAYERS
  • Daikin Industries, Ltd.
  • Emerson Electric Co.
  • Evapco, Inc.
  • GEA Group AG
  • Johnson Controls, Inc.
  • Ingersoll Rand Plc
  • LU-VE Group
  • Mayekawa Mfg. Co. Ltd.
  • The Danfoss Group
  • United Technologies Corporation
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Note: Product cover images may vary from those shown
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CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key benefits for stakeholders
1.3. Key market segments
1.4. Research methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools & models

CHAPTER 2: EXECUTIVE SUMMARY
2.1. CXO perspective

CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.2.2. Top winning strategies
3.3. Porter's five forces analysis
3.4. Key player positioning, 2016
3.5. Market dynamics
3.5.1. Drivers
3.5.1.1. Increase in consumption of FMCG products
3.5.1.2. Upgrading of cold storage infrastructure across emerging economies
3.5.1.3. Rise in adoption of energy-efficient & eco-friendly refrigerants
3.5.2. Restraint
3.5.2.1. High energy costs for operation and maintenance of industrial refrigeration units
3.5.2.2. Stringent regulations related to usage of refrigerants
3.5.3. Opportunity
3.5.3.1. Use of IoT-enabled refrigeration solutions for equipment monitoring

CHAPTER 4: INDUSTRIAL REFRIGERATION MARKET, BY OFFERING
4.1. Market overview
4.1.1. Market size and forecast, by offering
4.2. Industrial refrigerators
4.2.1. Key market trends, growth factors, and opportunities
4.2.2. Market size and forecast, by region
4.2.3. Market analysis, by country
4.3. Components
4.3.1. Key market trends, growth factors, and opportunities
4.3.2. Market size and forecast, by region
4.3.3. Market analysis, by country

CHAPTER 5: INDUSTRIAL REFRIGERATION MARKET, BY COMPONENT
5.1. Market overview
5.1.1. Market size and forecast, by component
5.2. Compressors
5.2.1. Key market trends, growth factors, and opportunities
5.2.2. Market size and forecast, by region
5.2.3. Market analysis, by country
5.3. Condensers
5.3.1. Key market trends, growth factors, and opportunities
5.3.2. Market size and forecast, by region
5.3.3. Market analysis, by country
5.4. Evaporators
5.4.1. Key market trends, growth factors, and opportunities
5.4.2. Market size and forecast, by region
5.4.3. Market analysis, by country
5.5. Controls
5.5.1. Key market trends, growth factors, and opportunities
5.5.2. Market size and forecast, by region
5.5.3. Market analysis, by country
5.6. Others
5.6.1. Key market trends, growth factors, and opportunities
5.6.2. Market size and forecast, by region
5.6.3. Market analysis, by country

CHAPTER 6: INDUSTRIAL REFRIGERATION MARKET, BY REFRIGERANT TYPE
6.1. Market overview
6.1.1. Market size and forecast, by refrigerant type
6.2. Ammonia
6.2.1. Key market trends, growth factors, and opportunities
6.2.2. Market size and forecast, by region
6.2.3. Market analysis, by country
6.3. Carbon dioxide
6.3.1. Key market trends, growth factors, and opportunities
6.3.2. Market size and forecast, by region
6.3.3. Market analysis, by country
6.4. HFC
6.4.1. Key market trends, growth factors, and opportunities
6.4.2. Market size and forecast, by region
6.4.3. Market analysis, by country
6.5. Others
6.5.1. Key market trends, growth factors, and opportunities
6.5.2. Market size and forecast, by region
6.5.3. Market analysis, by country

CHAPTER 7: INDUSTRIAL REFRIGERATION MARKET, BY APPLICATION
7.1. Market overview
7.1.1. Market size and forecast, by application
7.2. Fruits & vegetable processing
7.2.1. Key market trends, growth factors, and opportunities
7.2.2. Market size and forecast, by region
7.2.3. Market analysis, by country
7.3. Beverages
7.3.1. Key market trends, growth factors, and opportunities
7.3.2. Market size and forecast, by region
7.3.3. Market analysis, by country
7.4. Refrigerated warehouse
7.4.1. Key market trends, growth factors, and opportunities
7.4.2. Market size and forecast, by region
7.4.3. Market analysis, by country
7.5. Chemicals & pharmaceutical
7.5.1. Key market trends, growth factors, and opportunities
7.5.2. Market size and forecast, by region
7.5.3. Market analysis, by country
7.6. Dairy & ice cream processing
7.6.1. Key market trends, growth factors, and opportunities
7.6.2. Market size and forecast, by region
7.6.3. Market analysis, by country
7.7. Meat, poultry, & fish processing
7.7.1. Key market trends, growth factors, and opportunities
7.7.2. Market size and forecast, by region
7.7.3. Market analysis, by country
7.8. Refrigerated transportation
7.8.1. Key market trends, growth factors, and opportunities
7.8.2. Market size and forecast, by region
7.8.3. Market analysis, by country
7.9. Others
7.9.1. Key market trends, growth factors, and opportunities
7.9.2. Market size and forecast, by region
7.9.3. Market analysis, by country

CHAPTER 8: INDUSTRIAL REFRIGERATION MARKET, BY REGION
8.1. Market overview
8.2. North America
8.2.1. Key market trends, growth factors, and opportunities
8.2.2. Market size and forecast, by offering
8.2.3. Market size and forecast, by component
8.2.4. Market size and forecast, by refrigerant type
8.2.5. Market size and forecast, by application
8.2.6. Market size and forecast, by country
8.2.6.1. U.S.
8.2.6.1.1. Market size and forecast, by offering
8.2.6.1.2. Market size and forecast, by component
8.2.6.1.3. Market size and forecast, by refrigerant type
8.2.6.1.4. Market size and forecast, by application
8.2.6.2. Canada
8.2.6.2.1. Market size and forecast, by offering
8.2.6.2.2. Market size and forecast, by component
8.2.6.2.3. Market size and forecast, by refrigerant type
8.2.6.2.4. Market size and forecast, by application
8.2.6.3. Mexico
8.2.6.3.1. Market size and forecast, by offering
8.2.6.3.2. Market size and forecast, by component
8.2.6.3.3. Market size and forecast, by refrigerant type
8.2.6.3.4. Market size and forecast, by application
8.3. Europe
8.3.1. Key market trends, growth factors, and opportunities
8.3.2. Market size and forecast, by offering
8.3.3. Market size and forecast, by component
8.3.4. Market size and forecast, by refrigerant type
8.3.5. Market size and forecast, by application
8.3.6. Market size and forecast, by country
8.3.6.1. UK
8.3.6.1.1. Market size and forecast, by offering
8.3.6.1.2. Market size and forecast, by component
8.3.6.1.3. Market size and forecast, by refrigerant type
8.3.6.1.4. Market size and forecast, by application
8.3.6.2. Germany
8.3.6.2.1. Market size and forecast, by offering
8.3.6.2.2. Market size and forecast, by component
8.3.6.2.3. Market size and forecast, by refrigerant type
8.3.6.2.4. Market size and forecast, by application
8.3.6.3. France
8.3.6.3.1. Market size and forecast, by offering
8.3.6.3.2. Market size and forecast, by component
8.3.6.3.3. Market size and forecast, by refrigerant type
8.3.6.3.4. Market size and forecast, by application
8.3.6.4. Russia
8.3.6.4.1. Market size and forecast, by offering
8.3.6.4.2. Market size and forecast, by component
8.3.6.4.3. Market size and forecast, by refrigerant type
8.3.6.4.4. Market size and forecast, by application
8.3.6.5. Rest of Europe
8.3.6.5.1. Market size and forecast, by offering
8.3.6.5.2. Market size and forecast, by component
8.3.6.5.3. Market size and forecast, by refrigerant type
8.3.6.5.4. Market size and forecast, by application
8.4. Asia-Pacific
8.4.1. Key market trends, growth factors, and opportunities
8.4.2. Market size and forecast, by offering
8.4.3. Market size and forecast, by component
8.4.4. Market size and forecast, by refrigerant type
8.4.5. Market size and forecast, by application
8.4.6. Market size and forecast, by country
8.4.6.1. China
8.4.6.1.1. Market size and forecast, by offering
8.4.6.1.2. Market size and forecast, by component
8.4.6.1.3. Market size and forecast, by refrigerant type
8.4.6.1.4. Market size and forecast, by application
8.4.6.2. India
8.4.6.2.1. Market size and forecast, by offering
8.4.6.2.2. Market size and forecast, by component
8.4.6.2.3. Market size and forecast, by refrigerant type
8.4.6.2.4. Market size and forecast, by application
8.4.6.3. Japan
8.4.6.3.1. Market size and forecast, by offering
8.4.6.3.2. Market size and forecast, by component
8.4.6.3.3. Market size and forecast, by refrigerant type
8.4.6.3.4. Market size and forecast, by application
8.4.6.4. Australia
8.4.6.4.1. Market size and forecast, by offering
8.4.6.4.2. Market size and forecast, by component
8.4.6.4.3. Market size and forecast, by refrigerant type
8.4.6.4.4. Market size and forecast, by application
8.4.6.5. Rest of Asia-Pacific
8.4.6.5.1. Market size and forecast, by offering
8.4.6.5.2. Market size and forecast, by component
8.4.6.5.3. Market size and forecast, by refrigerant type
8.4.6.5.4. Market size and forecast, by application
8.5. LAMEA
8.5.1. Key market trends, growth factors, and opportunities
8.5.2. Market size and forecast, by offering
8.5.3. Market size and forecast, by component
8.5.4. Market size and forecast, by refrigerant type
8.5.5. Market size and forecast, by application
8.5.6. Market size and forecast, by country
8.5.6.1. Latin America
8.5.6.1.1. Market size and forecast, by offering
8.5.6.1.2. Market size and forecast, by component
8.5.6.1.3. Market size and forecast, by refrigerant type
8.5.6.1.4. Market size and forecast, by application
8.5.6.2. Middle East
8.5.6.2.1. Market size and forecast, by offering
8.5.6.2.2. Market size and forecast, by component
8.5.6.2.3. Market size and forecast, by refrigerant type
8.5.6.2.4. Market size and forecast, by application
8.5.6.3. Africa
8.5.6.3.1. Market size and forecast, by offering
8.5.6.3.2. Market size and forecast, by component
8.5.6.3.3. Market size and forecast, by refrigerant type
8.5.6.3.4. Market size and forecast, by application

CHAPTER 9: COMPANY PROFILES
9.1. Daikin Industries, Ltd.
9.1.1. Company overview
9.1.2. Company snapshot
9.1.3. Operating business segments
9.1.4. Product portfolio
9.1.5. Business performance
9.1.6. Key strategic moves and developments
9.2. Emerson Electric Co.
9.2.1. Company overview
9.2.2. Company snapshot
9.2.3. Operating business segments
9.2.4. Product portfolio
9.2.5. Business performance
9.2.6. Key strategic moves and developments
9.3. Evapco, Inc.
9.3.1. Company overview
9.3.2. Company snapshot
9.3.3. Operating business segments
9.3.4. Product portfolio
9.3.5. Key strategic moves and developments
9.4. GEA Group Aktiengesellschaft
9.4.1. Company overview
9.4.2. Company snapshot
9.4.3. Operating business segments
9.4.4. Product portfolio
9.4.5. Business performance
9.4.6. Key strategic moves and developments
9.5. Ingersoll-Rand plc
9.5.1. Company overview
9.5.2. Company snapshot
9.5.3. Operating business segments
9.5.4. Product portfolio
9.5.5. Business performance
9.5.6. Key strategic moves and developments
9.6. Johnson Controls International Plc
9.6.1. Company overview
9.6.2. Company snapshot
9.6.3. Operating business segments
9.6.4. Product portfolio
9.6.5. Business performance
9.7. LU-VE S.p.A.
9.7.1. Company overview
9.7.2. Company snapshot
9.7.3. Operating business segments
9.7.4. Product portfolio
9.7.5. Business performance
9.8. Mayekawa Mfg. Co., Ltd.
9.8.1. Company overview
9.8.2. Company snapshot
9.8.3. Operating business segments
9.8.4. Product portfolio
9.9. Danfoss A/S
9.9.1. Company overview
9.9.2. Company snapshot
9.9.3. Operating business segments
9.9.4. Product portfolio
9.9.5. Business performance
9.9.6. Key strategic moves and developments
9.10. United Technologies Corporation
9.10.1. Company overview
9.10.2. Company snapshot
9.10.3. Operating business segments
9.10.4. Product portfolio
9.10.5. Business performance
9.10.6. Key strategic moves and developments
Note: Product cover images may vary from those shown
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According to a new report titled, Industrial Refrigeration Market by Offering, Components, Refrigerant Type, and Application: Global Opportunity Analysis and Industry Forecast, 2017-2024, the global industrial refrigeration market accounted for $10,127.6 million in 2017 and is expected to reach $14,525.7 million by 2024, registering a CAGR of 5.4% from 2018 to 2024. In 2017, Europe dominated the global market, in terms of revenue, accounting about 34.5% share of the global industry, followed by North America.

Industrial refrigeration systems are used for cooling gigantic freezers and refrigeration plants that are used in food & beverage processing, cold storage, and others. The demand for industrial refrigeration systems has increased in the food & beverage processing and storage industries, as these systems prevent spoilage of perishable semi-processed foods & drinks. In addition, these systems provide controlled temperature conditions for food & beverage products to retain their freshness, taste, and prevent microbial contamination. These factors fuel the demand for refrigeration systems in the market. However, high energy cost for operations and maintenance of industrial refrigeration systems restrict the market growth.

The industrial refrigerators segment secured the highest share of 56.0% in the global market in 2017 and is expected to grow at a CAGR of 4.9% during the forecast period. In terms of application, the refrigerated warehouse segment is expected to contribute the highest market share in the coming years, as rapid expansion and upgrade of cold storage facilities fuel the demand for industrial refrigeration and related equipment in various developing countries such as India, China, Latin America, and the Middle East. There is high demand for ammonia-based refrigeration systems, as these systems prevent the release of ozone depletion substances (ODS) and maximizes the recycling ability of refrigerants. The compressors segment accounted for the highest share of 33.3% in the component market.

The refrigerated warehouse segment is anticipated to dominate the industrial refrigeration market during the forecast period, owing to rapid expansion of refrigerated warehouses and increase in demand for industrial refrigeration and related equipment across various developing countries such as India, China, Latin America, and the Middle East. Moreover, the fruits & vegetable processing and dairy & ice cream processing segments are expected to witness moderate growth in the industrial refrigeration market during the study period.

Key Findings of the Industrial Refrigeration Market

In 2017, the refrigerated warehouse segment dominated the global industrial refrigeration market, in terms of revenue, and is projected to grow at a CAGR of 6.3% during the forecast period
The ammonia-based refrigerant segment is projected to grow at a CAGR of 4.9% during the forecast period
Europe is expected to exhibit the highest CAGR during the forecast period. Countries such as UK, Germany, Russia, France, Italy, and others are expected to drive the industrial refrigeration market in the coming years.

The major players, such as Daikin Industries, Ltd., Emerson Electric Co., Evapco, Inc., GEA Group AG, Johnson Controls, Inc., Ingersoll Rand Plc, LU-VE Group, Mayekawa Mfg. Co. Ltd., The Danfoss Group, and United Technologies Corporation, have adopted new product launch and business expansion as their key strategies to expand their market foothold.
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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