Global Industrial Refrigeration System Market 2019-2025 - Growing Popularity of Carbon Dioxide/Ammonia (CO2/NH3)-Based Cascade Refrigeration Systems
DUBLIN, Dec. 9, 2019 /PRNewswire/ -- The "Industrial Refrigeration System Market by Component (Compressor, Condenser, Evaporator), Refrigerant Type (Ammonia, CO2), Application (Fruit & Vegetable Processing, Meat & Poultry, Refrigerated Warehouse), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global industrial refrigeration system market is expected to grow from USD 19.3 billion in 2019 to USD 24.8 billion by 2025, at a CAGR of 4.3%.
One of the major driving factors for the industrial refrigeration system market is the increasing demand for innovative and compact refrigeration systems. Also, due to the growing adoption of natural refrigerant-based systems, owing to strict regulatory policies, the demand for industrial refrigeration systems is increasing.
Moreover, increasing government support to strengthen the cold chain infrastructure in developing countries is driving the growth of the industrial refrigeration system market. However, the high installation cost and other expenses restrain market growth.
Based on component, industrial refrigeration system market for compressors to grow at highest CAGR during forecast period
The industrial refrigeration system market for compressors is expected to grow at the highest CAGR during the forecast period. Many companies are focusing on cost reduction in the manufacturing of industrial refrigeration compressors. With the increase in the application areas of industrial refrigeration systems, companies are developing new compressors to meet the diverse needs of customers and explore the untapped market, which is expected to increase the demand for compressors during the forecast period.
Based on application, refrigerated warehouse application to hold significant share from 2019 to 2025
Refrigerated warehouses, also known as cold storage facilities, store food after production and before it is transported and distributed to supermarkets or catering establishments. The ever-growing population and rising demand for frozen and processed food have increased the number of refrigerated warehouses globally with improved capacities in the last few years.
The strengthening of cold chain infrastructure in developing countries to meet the rising demand for convenience food, along with government support in various countries to expand refrigerated warehouse capacity, is expected to be the key driver for the industrial refrigeration system market for refrigerated warehouse applications during the forecast period.
Market in APAC to grow at significant CAGR during forecast period
The industrial refrigeration system market in APAC is expected to grow at the highest CAGR during the forecast period. Increasing disposable income and the ever-growing population is propelling the demand for processed food products and beverages in APAC. As a result, there is an increase in the number of food processing facilities in the region, which, in turn, is expected to drive the market for industrial refrigeration systems. Government initiatives to further strengthen cold chain management systems are expected to surge the demand for industrial refrigeration systems across APAC.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Market
4.2 Market in APAC, By Component and Application
4.3 Market, By Refrigerant Type
4.4 Country-Wise Industrial Refrigeration System Market Growth Rate
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rising Demand for Innovative and Compact Refrigeration Systems
5.2.1.2 Increasing Government Support to Strengthen Cold Chain Infrastructure in Developing Countries
5.2.1.3 Growing Adoption of Natural Refrigerant-Based Refrigeration Systems Due to Stringent Regulatory Policies
5.2.2 Restraints
5.2.2.1 High Installation Cost and Other Expenses
5.2.3 Opportunities
5.2.3.1 Growing Popularity of Carbon Dioxide/Ammonia (CO2/NH3)-Based Cascade Refrigeration Systems
5.2.3.2 Rising Demand for Frozen and Processed Food Across the World
5.2.4 Challenges
5.2.4.1 Lack of Skilled Personnel, Along With High Safety Concerns
5.3 Value Chain Analysis
5.4 Policies and Regulations
6 Industrial Refrigeration System Market, By Component
6.1 Introduction
6.2 Compressors
6.2.1 Reciprocating Compressors
6.2.1.1 Wide Use of Reciprocating Compressors Owing to Their High Efficiency and Low Cost
6.2.1.1.1 Semi-Hermetic Type
6.2.1.1.2 Hermetic Type
6.2.1.1.3 Open Type
6.2.2 Screw Compressors
6.2.2.1 Screw Compressors to Command Industrial Refrigeration Compressor Market During Forecast Period
6.2.2.1.1 Single-Screw Compressors
6.2.2.1.2 Twin-Screw Compressors
6.3 Condensers
6.3.1 Air-Cooled Condensers
6.3.1.1 Low Maintenance Cost of Air-Cooled Condensers to Accelerate Their Demand During Forecast Period
6.3.2 Water-Cooled Condensers
6.3.2.1 Higher Efficiency and Greater Reliability of Water-Cooled Condensers to Propel Market Growth During Forecast Period
6.3.3 Evaporative Condensers
6.3.3.1 Evaporative Condensers to Continue to Dominate Industrial Refrigeration Condenser Market During Forecast Period
6.4 Evaporators
6.4.1 Market for Evaporators to Grow at Second-Highest CAGR During Forecast Period
6.4.1.1 By Cooling Type
6.4.1.1.1 Air-Cooled Evaporators
6.4.1.2 By Design Type
6.4.1.2.1 Bare Tube Evaporators
6.4.1.2.2 Plate Type Evaporators
6.4.1.2.3 Finned Evaporators
6.4.1.2.4 Shell and Tube Type Evaporators
6.5 Controls
6.5.1 Controls are Used to Automate Defrost Cycles, Thereby Saving Energy
6.5.1.1 Compressor Controls
6.5.1.2 Condenser Controls
6.5.1.3 Evaporator Controls
6.6 Vessels, Pumps, Valves, and Auxiliary Equipment
6.6.1 Vessels, Pumps, Valves, and Auxiliary Equipment Drastically Improve Performance of Industrial Refrigeration Systems
7 Industrial Refrigeration System Market, By Refrigerant Type
7.1 Introduction
7.2 Ammonia
7.2.1 Ammonia to Be Preferred Refrigerant in Various Refrigeration Systems Owing to Its Cost-Effectiveness and Energy Efficiency
7.2.1.1 Ammonia Refrigeration System
7.2.1.2 Low-Charge Ammonia Refrigeration System
7.3 CO2
7.3.1 Various Government Initiatives to Phase Out Environmentally Harmful Refrigerants Provide Opportunities for CO2-Based Refrigeration Systems
7.3.1.1 CO2 Refrigeration System
7.3.1.2 CO2 Cascade Refrigeration System
7.4 Others
7.4.1 HFC
7.4.2 HCFC
7.4.3 HC
7.4.4 HFO
8 Industrial Refrigeration System Market, By Application
8.1 Introduction
8.2 Refrigerated Warehouse
8.2.1 Increasing Investments and Growing Number of Refrigerated Warehouses Propel Market Growth
8.3 Fruit & Vegetable Processing
8.3.1 Strict Government Regulations for Fruit & Vegetable Processing Industry Provide Opportunities for Market Players
8.4 Beverage
8.4.1 Adoption of Ammonia-Based Refrigeration Systems to Accelerate Demand for Industrial Refrigeration Systems in Beverage Applications
8.5 Meat, Poultry, & Fish Processing
8.5.1 Increasing Worldwide Consumption of Meat and Poultry Products Creates Market Opportunities
8.6 Dairy & Ice Cream Processing
8.6.1 Rising Demand for Processed Dairy Products Such as Cheese, Yoghurt, and Fermented Milk to Drive Market
8.7 Chemical, Petrochemical, & Pharmaceutical
8.7.1 Requirement for Temperature-Controlled Environments to Preserve Chemical and Pharmaceutical Products to Augment Market Growth
8.8 Refrigerated Transportation
8.8.1 Increasing Demand for Frozen and Fresh Commodities Drives Growth of Market
9 Geographic Analysis
10 Competitive Landscape
10.1 Overview
10.2 Competitive Leadership Mapping
10.2.1 Visionary Leaders
10.2.2 Dynamic Differentiators
10.2.3 Innovators
10.2.4 Emerging Companies
10.3 Market Share Analysis: Industrial Refrigeration System Market, 2018
10.3.1 Product Launches
10.3.2 Partnerships, Collaborations, and Joint Ventures
10.3.3 Expansions
10.3.4 Agreements and Contracts
10.3.5 Acquisitions
11 Company Profiles
Key Players
- Johnson Controls
- Emerson
- Danfoss
- GEA
- Mayekawa
- Baltimore Aircoil
- Bitzer
- Daikin
- Evapco
- Guentner
- Ingersoll-Rand
- Lennox International
- LU-VE
- United Technologies
Other Players
- Clauger
- Dorin
- Kobelco
- Parker Hannifin
- Rivacold
- Star Refrigeration
For more information about this report visit https://www.researchandmarkets.com/r/xdulc5
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