Asia-Pacific Industrial Refrigeration Market Expected to Witness the Fastest Growth During 2016 - 2022: P&S Market Research

Jul 06, 2016, 09:30 ET from P&S Market Research

NEW YORK, July 6, 2016 /PRNewswire/ --

According to market research "Global Industrial Refrigeration Market Size, Share, Development, Growth and Demand Forecast to 2022 - Industry Insights by Type (Evaporator Unit, Industrial Racks, Compressors, Heat Exchangers, Other Industrial Refrigeration Units)" by P&S Market Research, the global industrial refrigeration market is expected to grow at a CAGR of 7.2% during 2016-2022. Among the various product types, the evaporation units segment held the largest share in the global industrial refrigeration market in 2015.

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The concern over ozone layer depletion has been taken up very seriously by the governments worldwide. Globally, the government has adopted stringent regulations towards the use of fluorochemicals, as a refrigerant. The technology has changed in recent years from 'F' gas to natural refrigerant. The developed countries of Europe and North America are using ammonia, as an industrial refrigerant from a long time. However, the small and medium sized refrigerated warehouses and food processing industries in the developing countries of Asia-Pacific have started following F-gas regulations recently, due to increasing international pressure for the adoption of Montreal Protocol.

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In 2014, the government of China announced the closure of five 'F' gases production plants, in order to phase-out of 58,864 tons of HCFC production by 2020. The Phase-out of 'F' gases, as a refrigerant for industrial refrigeration in developing countries, is expected to drive the replacement of existing industrial refrigeration setup, with ammonia-based refrigeration system. This in turn is expected to drive the growth of the global Industrial refrigeration market.

The technological advancement in industrial refrigeration facilitated superior energy efficiency. Atlas Copco is an industrial compressor manufacturer, which launched GA VSD+, a range of oil-injected and compact rotary screw compressors that consume 50% less power, as compared to a conventional load type compressor of the same capacity. The reduction in thermal resistance of the heat exchangers are increasing the throughput and power efficiency of industrial heat exchangers in the chemicals, and energy sector.  

Food and beverages processing is one of the largest industry in the world. The annual production of food and beverages accounted for about $7 trillion, as of January 2015. The processed and ready to eat food and beverages are consumed in all countries. On an average, the developed countries including the U.S. processes 90% of their foods produce. The food processing rate in developing countries is however quite low. China processes 40% of its food produce. Other developing countries, such as Thailand, Philippines, and Brazil are processing, as high as 30%, 78%, and 70% of their food produce respectively.

The major companies operating in the global industrial refrigeration market include Industrial Frigo S.R.L., GEA Group Aktiengesellschaft, Emerson Electric Company, BITZER Kuhlmaschinenbau GmbH, Danfoss A/S, United Technologies Corporation, Star Refrigeration Ltd., Hussman Corporation, Dover Corporation and Johnson Controls Inc.

Global Industrial Refrigeration Market Segmentation 

By Type 

> Evaporator Unit

> Industrial Racks

- Open Reciprocating

- Open Screw

> Compressors

- Open Reciprocating

- Screw Open

- Others

> Heat Exchangers

- Blazed Plate

- Shell & Tube/Coaxial

- Others

> Other Industrial refrigeration(I.R.) Units


By Region 

> North America

- U.S.

- Canada

- Rest of North America

> Europe

- Germany

- U.K.

- France

- Italy

- Russia

- Spain

- Rest of Europe

> Asia-Pacific

- China

- Japan

- India

- Thailand

- Australia

- Indonesia

- Rest of Asia-Pacific

> Rest of the World (RoW)

- Brazil

- Mexico

- Turkey

- Iran

- Saudi Arabia

- Oman

- U.A.E

- Rest of RoW

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