Press release
Industrial Cooling Systems Market Size, Trends, Growth Revenue By 2023-2032
Industrial Cooling Systems Market
The Business Research Company's Industrial Cooling Systems Global Market Report 2023 identifies Rise in usage of cooling systems as the major driver for the Industrial Cooling Systems market's growth in the forecast period. Cooling systems, also referred as air conditioning or refrigeration systems, are devices or systems that remove heat from an area or material, lowering its temperature.
The global industrial cooling systems market is expected to grow from $17.18 billion in 2022 to $18.63 billion in 2023 at a compound annual growth rate (CAGR) of 8.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. 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 industrial cooling systems market is expected to reach $24.69 billion in 2027 at a CAGR of 7.3%.
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Major competitors in the Industrial Cooling Systems market are Schneider Electric SE, ABB Ltd, DAIKIN Industries Ltd., Johnson Controls International plc, Carrier Corporation, Emerson Electric Co.
A key trend in the Industrial Cooling Systems market includes product innovation. Major companies operating in the industrial cooling systems market are focused on developing innovative products with advanced technologies to strengthen their position in the market. For instance, in February 2022, Honeywell, a US-based performance materials and technology company, launched Solstice E-Cooling, a ground-breaking platform of liquid heat transfer agents that efficiently and effectively cool high-performance electronics in comparison to conventional techniques that use air and water. The innovative cooling technology for electronics and data centers uses a two-phase liquid cooling technology to cool electrical applications while minimizing the impact on the environment.
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The Industrial Cooling Systems market is segmented -
• By Type: Water Cooling System, Evaporative Cooling Systems, Air Cooling System, Hybrid Cooling System, Other Types
• By Function: Transport Cooling, Stationary Cooling
• By End-User: Power Generation, Industrial Manufacturing, Petrochemical Processing, Food Processing And Storage, Petroleum And Natural Gas Refining, Pharmaceuticals, Data Center, Other End-Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Industrial Cooling Systems market.
The Business Research Company's "Global Industrial Cooling Systems 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 Cooling Systems Market Include:
1. Executive Summary
2. Industrial Cooling Systems Market Characteristics
3. Industrial Cooling Systems Market Trends And Strategies
4. Industrial Cooling Systems Market - Macro Economic Scenario
5. Global Industrial Cooling Systems Historic Market Size and Growth, 2017 - 2022, Value ($ Billion)
………………………………………………………………………..
32. Global Industrial Cooling Systems Market Competitive Benchmarking
33. Global Industrial Cooling Systems Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Industrial Cooling Systems Market
35. Industrial Cooling Systems Market Future Outlook and Potential Analysis
36. Appendix
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