Press release
Asia & MENA Industrial Refrigeration Market Expected to be the Fastest Growing Segment At a CAGR of 5.3% by 2030
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.Rise in consumption of FMCG products, development of cold storage infrastructure across emerging economies, and increase in adoption of energy-efficient and eco-friendly refrigerants drive the growth of the Asia & MENA industrial refrigeration market. However, use of IoT-enabled refrigeration solutions for equipment monitoring create new opportunities in the coming years.
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The report offers detailed segmentation of the Asia & MENA industrial refrigeration market based on component, refrigerant type, application, type and region.
Based on component, the compressors segment accounted for the largest share in 2020, contributing to nearly one-third of the total share, and is estimated to maintain its lead position during the forecast period. On the other hand, the Adiabatic Coolers segment is expected to manifest the largest CAGR of 7.3% from 2021 to 2030.
Based on refrigerant, the HFCs segment held the highest market share, contributing to more than half of the Asia & MENA industrial refrigeration market in 2020, and is projected to continue its leadership status throughout the forecast period. However, the carbon dioxide segment is expected to witness the highest CAGR of 7.1% from 2021 to 2030.
Based on type, the stationary refrigeration segment contributed to the largest share in 2020, accounting for more than two-third of the total market, and is estimated to continue its dominance in terms of revenue by 2030. However, the transport refrigeration is expected to portray the fastest CAGR of 5.8% during the forecast period.
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Leading Players:
Leading players of the Asia & MENA industrial refrigeration market analyzed in the research include Daikin Industries, Ltd., Emerson Electric Co., Evapco, Inc., GEA Group AG, Johnson Controls, Inc., Ingersoll Rand Plc, LU-VE Group, Mayekawa Mfg. Co. Ltd., The Danfoss Group, and Carrier.
Key Market Segments
By Component:
Compressor
Condenser
Evaporator
Control
Adiabatic Coolers
Others
By Refrigerant Type
Ammonia
Carbon Dioxide
Hydroflurocarbon (HFC)
Others
By Application
Food Processing
Dairy
Chemical & Pharmaceuticals
Steel
Cement
Cold storage
Brewery & Distillery
Hospitality
Automobile
Oil & Gas
Others
By Type
Stationary Refrigeration
Transport Refrigeration
Read Full Research Report:
https://www.alliedmarketresearch.com/asia-and-mena-industrial-refrigeration-market-A12232
Key Benefits For Stakeholders:
The report provides an extensive analysis of the current and emerging Asia & MENA industrial refrigeration market trends and dynamics.
In-depth Asia & MENA industrial refrigeration market analysis is conducted by estimations for the key segments between 2021 and 2028.
Extensive analysis of the market is conducted by following key product positioning and monitoring of top competitors within the market framework.
A comprehensive analysis of four major regions is provided to determine the prevailing opportunities.
The market forecast analysis from 2021 to 2030 is included in the report.
The key market players operating in the market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the market industry.
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