Europe Industrial Refrigeration Equipment Market Demand Analysis and Projected huge Growth by 2030

Growing Inclination Towards Eco-friendly Refrigerant-based Refrigeration System Fuels Europe Industrial Refrigeration Equipment Market

The growing importance of eco-friendly practices and sustainability is increasing the demand for refrigeration systems that use environmentally friendly refrigerants. This shift in end-user preferences drives the market players to develop and offer more energy-efficient and environmentally conscious solutions. There is a rise in environmental concerns and regulations aimed at reducing the impact of traditional refrigerants, such as hydrofluorocarbons (HFCs), on the ozone layer and climate. As regulations and awareness about climate change continue to become more stringent, businesses are adopting these systems to align with greener practices and reduce their carbon footprint. Hence, the adoption of natural refrigerants, such as hydrocarbons (propane and isobutane) and ammonia, is increasing across the globe. These substances have substantially lower Global Warming Potential (GWP) than HFCs. Industries are increasingly transitioning to these alternatives to adhere to environmental regulations and minimize their carbon footprint.

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Europe Industrial Refrigeration Equipment Market Overview
The European Federation of Pharmaceutical Industries and Associations estimated that companies in the EU, Norway, Switzerland, and the UK spent US$ 49.07 billion on R&D in 2021 compared to US$ 45.25 billion in 2020. The European pharmaceutical and process industries are responsible for developing products that simplify and improve human life, from manufacturing medicines to producing materials and chemicals. To do this, high-efficiency cooling, reliable, and heating systems are essential. In the pharmaceutical industry, refrigeration systems operate simultaneously for cooling, freezing, heat pumps, process and production, heating, hot water, and combinations. Various players are expanding their business in Europe in the pharmaceutical industry. In November 2022, Envirotainer, one of the market leaders in secure cold chain solutions for the shipment of pharmaceuticals, extensively expanded its production site in Rosersberg, Sweden.

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