Global Industrial Refrigeration System Market to Grow at 4.46% During 2025-2033, Augmented by Improving Cold Chain Infrastructure

January 06, 2025 | Electronics and Semiconductors

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According to the latest report by IMARC Group, titled “Industrial Refrigeration System Market Report by Component (Compressor, Condenser, Evaporator, and Others), Refrigerant Type (Ammonia, Carbon Dioxide, Hydrofluorocarbon (HFC), and Others), Application (Fresh Fruits and Vegetables, Meat, Poultry and Fish, Dairy Products, Beverages, Chemicals, Pharmaceuticals, and Others), and Region 2025-2033,” the global industrial refrigeration system market reached a value of USD 21.3 Billion in 2024. Industrial refrigeration systems comprise large-scale freezing and refrigeration units that require liquid refrigerants. They assist in cooling and removing heat from a low-temperature medium. As a result, they find extensive application in food processing, cold storage, petrochemical, and liquified natural gas (LNG) liquefaction across the globe.

Global Industrial Refrigeration System Market Trends:

Due to hectic schedules and sedentary lifestyles, there is a significant rise in the demand for packaged, processed, and ready-to-eat (RTE) food items around the world. This, in confluence with the burgeoning food and beverage (F&B) industry, represents one of the key factors fueling the market growth. Apart from this, governing agencies of various countries are undertaking initiatives to improve the cold chain infrastructure, which, in turn, is acting as another growth-inducing factor. Moreover, the key players are focusing on utilizing natural refrigerant-based systems to reduce the greenhouse gas (GHG) emissions caused by conventional refrigerants. They are also developing units by employing the latest technologies, such as the Internet of Things (IoT)-enabled monitoring systems. Other factors, including industrialization and the escalating demand for compact and innovative refrigeration systems, are impelling the growth of the market. Looking forward, the market value is projected to reach USD 32.2 Billion by 2033, expanding at a CAGR of 4.46% during 2025-2033.

Market Summary:

Based on the component, the market has been classified into compressor, condenser, evaporator, and other segments.
On the basis of the refrigerant type, the market has been categorized into ammonia, carbon dioxide, hydrofluorocarbon (HFC), and others.
Based on the application, the market has been divided into fresh fruits and vegetables; meat, poultry and fish; dairy products; beverages; chemicals; pharmaceuticals; and others.
Region-wise, the market has been segmented into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (the United Kingdom, Germany, France, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and Middle East and Africa.
The competitive landscape of the market has been examined, with some of the key players being Baltimore Aircoil, Bitzer, Daikin, Danfoss, Evapco, GEA Group AG, Ingersoll-Rand, Johnson Controls, Lennox International, LU-VE Group, Mayekawa and United Technologies.

Report Scope:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Billion USD
Segment Coverage	Component, Refrigerant Type, Application, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Baltimore Aircoil, Bitzer, Daikin, Danfoss, Evapco, GEA Group AG, Ingersoll-Rand, Johnson Controls, Lennox International, LU-VE Group, Mayekawa and United Technologies
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Industrial Refrigeration System Market to Grow at 4.46% During 2025-2033, Augmented by Improving Cold Chain Infrastructure

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