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Industrial Refrigeration Equipment Market Research Reports Global Industry Size, InDepth Qualitative Insights, Explosive Growth Opportunity, Regional Analysis
The Industrial Refrigeration Equipment Market size is expected to reach US$ 36.8 billion by 2030 from 19.1 billion in 2022, at an estimated CAGR of 8.5% from 2022 to 2030.Natural refrigerants are being adopted for their environmental benefits, energy efficiency, and regulatory compliance. CO2 (carbon dioxide) and NH3 (ammonia)-based systems are considered natural refrigerants with low Global Warming Potential (GWP) compared to synthetic refrigerants such as HFCs. As environmental regulations become strict, industries are adopting more environmentally friendly solutions to reduce their carbon footprint and comply with regulations such as the Montreal Protocol. CO2 and NH3-based systems are known for their excellent thermodynamic properties, thereby offering high energy efficiency.
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Analysis of the Top Market Players:
Samifi France SAS
Johnson Controls International Plc
Jean Paumier et Fils Ets
Danfoss AS
Honeywell International Inc
Copeland LP
Evapco Inc
Mayekawa Australia Pty Ltd
BITZER Kuhlmaschinenbau GmbH
Carrier Global Corp
In this report, the market has been segmented on the basis of:
Type
Mechanical-Compression Refrigeration Systems
Evaporative Cooling
Absorption
Thermoelectric
Refrigerant Type
Ammonia-R717
Carbon Dioxide (CO2)-R744
Hydrocarbons-HCs
Application
Food And Beverages
Pharmaceutical
Chemical And Petrochemical
District Cooling
Data Centres
Electricity Production
These systems can operate effectively across a wide range of temperatures, making them suitable for various industrial applications, such as cold storage, food processing, and petrochemical industries. Also, CO2 and NH3 have good heat transfer properties, enabling them to achieve effective cooling and freezing processes. The use of properly designed and maintained systems with these refrigerants can offer safe operation.
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The North American industrial refrigeration equipment market is segmented into the US, Canada, and Mexico. The US is estimated to hold the largest industrial refrigeration equipment market share during the forecast period. In North America, various industries are using natural refrigerants with a low global warming potential, such as Opteon XL20 (R-454 C), Opteon XL40 (R-454A), and Opteon XL10 (R-1234yf). In November 2022, The Chemours Company-a global chemical company with a market-leading position in titanium technologies, thermal and specialized solutions, and advanced performance materials-announced a partnership with Bohn de Mexico, an industrial and commercial refrigeration manufacturing company with a presence in South America.
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