Press release
Asia & MENA Industrial Refrigeration Market Dynamic Business Environment Estimated to Reach $16.35 bn by 2030
Asia & MENA industrial refrigeration market
The Asia & MENA industrial refrigeration market garnered $9.74 billion in 2020, and is estimated to reach $16.35 billion by 2030, witnessing a CAGR of 5.3% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, key segments, value chain, regional scenario, top investment pockets, and competitive landscape.
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Growth Factors:
The industrial refrigeration market includes revenue generated by sales of industrial refrigerators and its components used in fresh fruits & vegetables; meat, poultry, & fish; dairy & ice cream; beverages; chemicals; pharmaceuticals, and others industries.
There is an increase in the demand for industrial refrigeration in the food & beverage industry owing to growth in population and rise in trend of consumption of packaged food.
In addition, upgrading old cold storages in developing countries is driving the growth of the Asia & MENA industrial refrigeration market. Moreover, adoption of eco-friendly and energy efficient refrigerants is a major factor fostering the growth of the industrial refrigeration market.
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Key Findings Of The Study
• By component, the industrial compressors segment was the highest revenue contributor in 2020.
• By refrigerant type, the HFC segment was the highest revenue contributor in 2020.
• By application, the food processing segment was the highest revenue contributor in 2020.
• By type, the stationary refrigeration sales segment generated the highest revenue in 2020.
• By country, the rest of Asia segment generated the highest revenue in 2020.
Top Players:
The major players profiled in the Asia & MENA industrial refrigeration market include Daikin Industries, Ltd., Emerson Electric Co., Evapco, Inc., GEA Group AG, Johnson Controls, Inc., Ingersoll Rand, LU-VE Group, Mayekawa Mfg. Co. Ltd., The Danfoss Group, and Carrier. Major companies in the market have adopted strategies such as business expansion, partnership, acquisition, product development and product launch, to offer better products and services to customers in the Asia & MENA industrial refrigeration market.
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