Industrial Refrigeration Market Segmentation, Applications and Regional Types by 2026

According to a recent report published by Allied Market Research, titled, "Industrial Refrigeration Market by Offering, Component, Refrigerant type, Application, and type: Global Opportunity Analysis and Industry Forecast, 2019–2026," The global industrial refrigeration market accounted for $19,666 million in 2018 and is expected to reach $29,133 million by 2026, registering a CAGR of 4.9% from 2019 to 2026. In 2018, Asia-Pacific dominated the global market, in terms of revenue, accounting about 43.8% share of the global industry, followed by North America, Europe, and LAMEA.

Industrial refrigeration systems are used for cooling gigantic freezers and refrigeration plants that are used in food & beverage processing, cold storage, and others. They are also used in the production industry wherein they are used for cooling various industrial equipment. The demand for industrial refrigeration systems has increased in the food & beverage processing and storage industries, as these systems prevent spoilage of perishable semi-processed foods & drinks. In addition, these systems provide controlled temperature conditions for food & beverage products to retain their freshness, taste, and prevent microbial contamination. These factors fuel the demand for refrigeration systems in the market. However, high energy cost for operations and maintenance of industrial refrigeration systems restrict the global industrial refrigeration market growth.

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Leading Players:

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The industrial refrigerators segment secured the highest share of 54.8% in the global market in 2018 and is expected to grow at a CAGR of 4.6% during the forecast period. In terms of type, the stationary refrigeration segment is expected to contribute the highest market share in the coming years, as rapid expansion and upgrade of cold storage facilities fuel the demand for industrial refrigeration and related equipment in various developing countries such as India, China, Latin America, and the Middle East.

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Key Market Segments

By Offering
• Industrial Refrigerator
• Component
By Component
• Compressor
• Condenser
• Evaporator
• Control
• Others

By Application
• Fresh Fruits & Vegetables
• Meat, Poultry, & Fish
• Dairy & Ice Cream
• Beverages
• Chemicals
• Pharmaceuticals
• Others

Key Findings of the Study
• Based on offering, the industrial refrigerators segment generated the highest revenue in 2018.
• Based on component, the compressors segment was the highest revenue contributor in 2018.
• Based on refrigerant type, the HFCs segment was the highest revenue contributor in 2018.
• Based on application, the meat, poultry, & fish segment was the highest revenue contributor in 2018.
• Based on region, LAMEA is anticipated to exhibit the highest CAGR during the forecast period.
• Based on region, Asia-Pacific contributed the highest market revenue in 2018, followed by North America, Europe, and LAMEA.

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