Industrial Refrigeration Market Global Industry to Witness 7.2% CAGR During 2016 – 2022

The global industrial refrigeration market is expected to grow at a CAGR of 7.2% during 2016-2022. Among the various product types, the evaporation units segment held the largest share in the global industrial refrigeration market in 2015.

The concern over ozone layer depletion has been taken up very seriously by the governments worldwide. Globally, the government has adopted stringent regulations towards the use of fluorochemicals, as a refrigerant. The technology has changed in recent years from ‘F’ gas to natural refrigerant. The developed countries of Europe and North America are using ammonia, as an industrial refrigerant from a long time. However, the small and medium sized refrigerated warehouses and food processing industries in the developing countries of Asia-Pacific have started following F-gas regulations recently, due to increasing international pressure for the adoption of Montreal Protocol.

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In 2014, the government of China announced the closure of five ‘F’ gases production plants, in order to phase-out of 58,864 tons of HCFC production by 2020. The Phase-out of ‘F’ gases, as a refrigerant for industrial refrigeration in developing countries, is expected to drive the replacement of existing industrial refrigeration setup, with ammonia-based refrigeration system. This in turn is expected to drive the growth of the global Industrial refrigeration market.

The technological advancement in industrial refrigeration facilitated superior energy efficiency. Atlas Copco is an industrial compressor manufacturer, which launched GA VSD+, a range of oil-injected and compact rotary screw compressors that consume 50% less power, as compared to a conventional load type compressor of the same capacity. The reduction in thermal resistance of the heat exchangers are increasing the throughput and power efficiency of industrial heat exchangers in the chemicals, and energy sector.

The information and data in the publication “Global Industrial Refrigeration Market Size, Share, Development, Growth and Demand Forecast to 2022” represent the research and analysis of data from various primary and secondary sources. Top down approach has been used to calculate the global industrial refrigeration market by type. P&S Market Research analysts and consultants interact with leading companies of the concerned domain to substantiate every value of data presented in the report. The company bases its primary research on discussions with prominent professionals and analysts in the industry, which is followed by informed and detailed, online and offline research.

Food and beverages processing is one of the largest industry in the world. The annual production of food and beverages accounted for about $7 trillion, as of January 2015. The processed and ready to eat food and beverages are consumed in all countries. On an average, the developed countries including the U.S. processes 90% of their foods produce. The food processing rate in developing countries is however quite low. China processes 40% of its food produce. Other developing countries, such as Thailand, Philippines, and Brazil are processing, as high as 30%, 78%, and 70% of their food produce respectively.

The Indian food processing sector ranks fifth in the world in exports. The production and consumption of processed food in developing region is driving the growth of the refrigeration market in the food processing industries. In India, the food processing industries are getting considerable government support, as recently the government of India included food processing sector in its ambitious “Make in India” initiative. Currently, the food processing sector in India contributes 9-10% of the country’s GDP. During the 11th and 12th five year plan, the government of India sanctioned 40 mega food park projects in the country. Similarly in 2012, the government of South Africa allocated $764 million to support and stabilize the industrial output, due to which, the food processing industry is expected to be a major contributor to the growth of the Industrial refrigeration market.

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Global Industrial Refrigeration Market Segmentation

By Type

Evaporator Unit
Industrial Racks
Open Reciprocating
Open Screw
Compressors
Open Reciprocating
Screw Open
Others

Heat Exchangers
Blazed Plate
Shell & Tube/Coaxial
Others
Other Industrial refrigeration(I.R.) Units


GEOGRAPHICAL SEGMENTATION

By Region

North America
U.S.
Canada
Rest of North America

Europe
Germany
U.K.
France
Italy
Russia
Spain
Rest of Europe

Asia-Pacific
China
Japan
India
Thailand
Australia
Indonesia
Rest of Asia-Pacific
Rest of the World (RoW)
Brazil
Mexico
Turkey
Iran
Saudi Arabia
Oman
U.A.E
Rest of RoW

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