Press release
Industrial Cooling Systems Market - The Ultimate Guide to Choosing Business Hits a CAGR of 5.2% by 2032
industrial cooling systems market
According to a new report published by Allied Market Research, titled, "Industrial Cooling Systems Market," The industrial cooling systems market size was valued at $16.6 billion in 2020, and is estimated to reach $31.3 billion by 2032, growing at a CAGR of 5.2% from 2023 to 2032.
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Increasing in demand for industrial cooling systems from various industries such as pharmaceutical and oil and gas industries drives industrial cooling systems market growth. In addition, factors such as industrial growth, technological advancement, energy efficiency requirement and the need for sustainable cooling solution contribute to the growth of the market.
In addition, in developing nations such as India, China, Latin America, and the Middle East, there is a greater demand for industrial refrigeration and related equipment due to the rapid growth and modernization of cold storage facilities. Additionally, rapid expansion and upgrades in cold storage facilities have led to the higher demand for industrial refrigeration and related equipment in the developing countries such as India, China, Latin America, and the Middle East.
Furthermore, cold storage facilities and refrigerated warehouses offer characteristics for blast freezing, tempering, and modified atmosphere storage to a variety of processing sectors, including those in the food and beverage, dairy, ice cream, meat, poultry, and fish as well as the chemical and pharmaceutical industries. Therefore, the presence of cutting-edge cold storage facilities in emerging economies significantly aids in the expansion of the global industry.
The global industrial cooling system market can be categorized by type into water cooling, evaporative cooling, air cooling, and hybrid cooling. Water cooling is anticipated to dominate the market, with evaporative cooling emerging as the fastest-growing type during the forecast period. The air cooling system is also expected to witness significant growth due to the expansion of diverse industries worldwide.
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Top Players:
The major players profiled in the industrial cooling systems market include Airedale International Air Conditioning Ltd., Baltimore Aircoil Company Inc., Brentwood Industries, Inc., Emerson Electric Co., GEA Group Aktiengesellschaft, Hamon Group S.A., Johnson Controls International plc, Schneider Electric SE., SPX Corporation., and Star Cooling Tower Pvt Ltd.
Key Benefits For Stakeholders
• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the industrial cooling systems market analysis from 2020 to 2032 to identify the prevailing industrial cooling systems market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the industrial cooling systems market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global industrial cooling systems market trends, key players, market segments, application areas, and industrial cooling systems market strategies.
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About us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, DE. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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