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Industrial Refrigeration System Market Trends, Strategies, And Opportunities, Future Technologies By 2023-2032
Industrial Refrigeration System Market
The Business Research Company's Industrial Refrigeration System Global Market Report 2023 identifies Growing demand for frozen and processed food as the major driver for the Industrial Refrigeration System market's growth in the forecast period. Frozen food refers to food that has been frozen quickly and is maintained frozen until it is used, whereas, processed food refers to a food item that has gone through several mechanical or chemical processes in order to change or preserve it.
The global industrial refrigeration system market size is expected to grow from $20.53 billion in 2022 to $21.99 billion in 2023 at a compound annual growth rate (CAGR) of 7.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global industrial refrigeration system market size is expected to reach $27.89 billion in 2027 at a CAGR of 6.1%.
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Major competitors in the Industrial Refrigeration System market are Johnson Control, GEA Group Aktiengesellschaft, Dan Foss, DAIKIN Industries Ltd, EVAPCO Inc., Bitzer SE.
A key trend in the Industrial Refrigeration System market includes product innovation. Major companies operating in the industrial refrigeration system market are focusing on including new environment-friendly refrigerants for their industrial refrigeration system offerings. For instance, in November 2022, the Chemours Company, a US-based chemical company partnered with Bohn de Mexico, a Mexico-based manufacturer of industrial refrigeration equipment technology and launched low global warming potential (GWP) industrial refrigeration solutions. With its new line of BOHN Ecoflex condensing units, Bohn de Mexico use the non-ozone depleting (ODP) and low global warming potential (GWP) refrigerants OpteonTM XL20 (R-454 C), OpteonTM XL40 (R-454A), and OpteonTM XL10 (R-1234yf).
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The Industrial Refrigeration System market is segmented -
• By Component: Compressors, Rotary Screw Compressors, Centrifugal Compressors, Reciprocating Compressors, Diaphragm Compressors, Evaporators, Condensers, Controls
• By Refrigerant: Ammonia, Carbon Dioxide
• By Application: Refrigerated Warehouse, Refrigerated Transportation, Beverage Processing, Dairy and Ice cream Processing
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Industrial Refrigeration System market.
The Business Research Company's "Global Industrial Refrigeration System Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Industrial Refrigeration System Market Include:
1. Executive Summary
2. Industrial Refrigeration System Market Characteristics
3. Industrial Refrigeration System Market Trends And Strategies
4. Industrial Refrigeration System Market - Macro Economic Scenario
5. Industrial Refrigeration System Market Size And Growth
…………………………………………………………………….
26. Africa Industrial Refrigeration System Market
27. Industrial Refrigeration System Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Industrial Refrigeration System Market
29. Industrial Refrigeration System Market Future Outlook and Potential Analysis
30. Appendix
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