PUNE, India, October 27, 2016 /PRNewswire/ --
According to the market research report "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", published by MarketsandMarkets, the market is expected to reach USD 23.22 Billion by 2022, at a CAGR of 5.24% between 2016 and 2022.
Browse 65 market data Tables and 53 Figures spread through 154 Pages and in-depth TOC on "Industrial Refrigeration Systems Market"
Early buyers will receive 10% customization on this report.
The growth in the industrial refrigeration systems market is expected to be driven by stringent laws and standards supporting environmentally-friendly substitutes and growing focus in developing economies for strengthening the cold-chain infrastructure.
The market for CO2-based refrigeration systems expected to grow at the highest rate during the forecast period
The market for CO2-based Industrial Refrigeration Systems are expected to grow at the highest rate during the forecast period owing to the benefits it offers, such as excellent thermodynamic properties, high energy-efficiency, zero-toxicity, and non-flammability. Many food and beverage industrial players, especially across developed economies in the North America and Europe region have shifted towards the usage of CO2 as a preferred refrigerant type, especially as a secondary refrigerant and also in the cascade systems.
Refrigerated warehouses application held the largest share of the industrial refrigeration systems market in 2015
Industrial refrigeration systems are most widely used in the refrigerated warehouses industry, which is further expected to hold the dominance in the near future as well, closely followed by fruits and vegetables processing application. Many industrial refrigeration systems manufacturers have started offering natural refrigerants compatible products and equipment, and low- global warming potential (GWP) and low- ozone depleting potential (ODP) refrigerants, which are being developed for replacing their comparatively high-GWP and high-ODP refrigerants counterparts, to follow strict adherence to the regional and international regulatory standards.
North America held the largest market share in 2015
North America held the largest market in 2015, followed by Europe and Asia-Pacific for industrial refrigeration systems. The U.S. held the largest share of the North American industrial refrigeration systems market owing to strong demand from refrigerated warehouses, and food and beverage processing applications. Rapid commercialization of CO2-based transport refrigeration and growing installation base of NH3/CO2 cascade refrigeration systems (especially across food processing industry) are further adding to the future growth of industrial refrigeration systems across the U.S., Canada, and Mexico. Asia-Pacific offers potential growth opportunities owing to the strengthening of cold-chain infrastructure across developing countries in this region.
Inquiry Before Buying: http://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=245749288
Major players in this 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.), LU-VE Group (Italy), Lennox International Inc. (U.S.), BITZER Kuhlmaschinenbau GmbH (Germany), and Baltimore Aircoil Company (U.S.).
Browse Related Reports
Magnetic Refrigeration Market by Product (Refrigeration, Air conditioning, Heat pumps), Application (Domestic, Commercial, Transportation & Industrial) & Geography - Global forecast to 2022
Scroll & Absorption Chillers Market by Product (Scroll Chiller & Absorption Chiller), Capacity (<100 kW, 101 kW-300 kW, 301 kW-700 kW, & >701 kW), Vertical, and Geography - Global Forecast to 2022
Subscribe Reports from Semiconductor Domain @ http://www.marketsandmarkets.com/Knowledgestore.asp
MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical info graphics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
701 Pike Street
Suite 2175, Seattle,
WA 98101, United States
Tel : 1-888-600-6441
Visit MarketsandMarkets Blog@ http://www.marketsandmarketsblog.com/market-reports/electronics-and-semiconductors