Press release
Industrial Refrigeration System Market Outlook to 2025 - United Technologies Corporation, Innovative Refrigeration Systems, Johnson Controls, International Plc, Evapco, GEA Group AG, Hussmann Corporation, and Dover Corporation
Industrial Refrigeration System Market
Rising demands for packaged food by the consumers is a major influencer in the industrial refrigeration system market which is anticipated to grow at a CAGR of 6.8%
The importance of refrigerant systems in industries such as food processing and storing, chemicals and pharmaceuticals, oil & gas and transportation industry has gained prominence over the years. This has led the manufacturers to continuously innovate and design technologically advanced refrigeration systems which marked a significant influence on the end users.
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The top companies operating in the field of industrial refrigeration systems in North America region include Emerson Electric Co., United Technologies Corporation, Johnson Controls Inc., Evapo, Inc., Danfoss, Hussmann Corporation, Dover Corporation, Ingersoll-Rand Plc., Carnot Refrigeration, and Innovative Refrigeration Systems, Inc. Various other companies are also operating in the market and are coming up with new technologies and offerings which is helping the North America market for industrial refrigeration systems to expand over the years in terms of volume as well as revenue.
Latest market study on Industrial Refrigeration System Market 2025 by Refrigerant Type (CO2, HFC, and Ammonia); Equipment (Compressor, Condenser, Evaporator, and Others); and Application (Food Processing, Chemicals & Pharmaceuticals and Refrigerated Logistics) - Global Analysis and Forecast, the industrial refrigeration system market is estimated to reach US$ 33.66 Bn by 2025 from US$ 20.02 Bn in 2017. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
In the current scenario, the players in the industrial refrigeration system market are using carbon dioxide CO2 individually as well as cascading CO2 and NH3 as the refrigerants. The CO2 is easily available and is much cheaper as compared to its counterparts, which helps the manufacturers to reduce the upfront cost of the final product and also increase the operational efficiency of the system.
The cascade of CO2 and NH3 possesses much more efficiency in refrigeration, and also saves huge amounts of energy, thereby helping the end user to reduce their operating costs. These trends are being observed among the industrial refrigeration system market players, which is heavily impacting on the growth of the system presently. A new opportunity has been created for other players in the industrial refrigeration system market with the development of such a solution.
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Reason to Buy:
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the industrial refrigeration system market, thereby allowing players to develop effective long term strategies.
- Develop/modify business expansion plans by using substantial growth offering in developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to segmentations like refrigerant type, equipment and application.
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