Press release
Sustainable Refrigeration Technology Market to Grow at 7.5 Percent CAGR from 2025 to 2034 as Demand for CO2 and Ammonia-Based Cooling Systems Surges
Sustainable Refrigeration Technology Market
According to the latest research by InsightAce Analytic, the Sustainable Refrigeration Technology Market is valued at USD 62.1 Bn in 2024, and it is expected to reach USD 124.8 Bn by the year 2034, with a CAGR of 7.5% during the forecast period of 2025-2034.
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Solutions and systems intended to chill or preserve products with the minimum possible negative impact on the environment are referred to as sustainable refrigeration technology. These technologies place a high priority on decreased carbon emissions, low global warming potential (GWP) refrigerants, and energy efficiency over the course of their lifetime. Typical methods involve the use of natural refrigerants, such as hydrocarbons, carbon dioxide (CO2), or ammonia, which have a much smaller environmental impact than conventional manufactured refrigerants, like hydrofluorocarbons (HFCs). The pressing need to improve energy efficiency and lessen the impact on the environment is propelling the global sustainable refrigeration technology market to the forefront of revolutionary transformation. In addition, due to continuous technological breakthroughs, regulatory pressure to reduce emissions, and rising consumer demand for environmentally friendly refrigeration systems, the market for sustainable refrigeration technologies is anticipated to grow significantly throughout this projection period.
List of Prominent Players in the Sustainable Refrigeration Technology Market:
• Hussmann Corporation
• INTARCON S.L.
• Carrier Commercial Refrigeration, Inc. (a part of Carrier Global Corporation)
• Enerflex Ltd.
• GEA Group Aktiengesellschaft (GEA Group AG)
• Greencold Refrigeration Services Ltd.
• MAGNOTHERM Solutions GmbH
• SCM Frigo S.p.A
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Market Dynamics:
Drivers-
Growing environmental consciousness, stricter laws governing fluorinated gases, and improvements in refrigerant technology are all factors contributing to the sustainable refrigeration technology market's expansion. The adoption of sustainable refrigeration technologies has been significantly accelerated by government legislation, including the Kigali Amendment and the EU Green Deal. The need for energy-efficient refrigeration systems with minimal environmental impact is also being driven by consumers' and businesses' growing environmental consciousness. Furthermore, technical developments like the combination of AI and IoT are driving the sustainable refrigeration technology market's expansion.
Challenges:
The potential high costs of switching to sustainable refrigeration technology are one of the main obstacles to market growth over the forecast period. Furthermore, certain refrigerants-such as ammonia-require specific handling and equipment due to their toxicity or flammability, which can increase operating costs and complexity. These elements may make adoption difficult, especially for resource-constrained small and medium-sized businesses. Thus, this is anticipated to limit the sustainable refrigeration technology market growth.
Regional Trends:
The North American Sustainable Refrigeration Technology market is anticipated to register a major market share in terms of revenue reinforced by strong business and industrial sectors. Further driving up demand for sustainable refrigeration technology is the growing emphasis on sustainability & energy efficiency. Additionally, it is anticipated that the North American market will continue to expand steadily due to regulations and technological developments. Besides, over the projection period, Asia Pacific is expected to increase at the fastest rate. In countries like China & India, rapid industrialization, urbanization, and economic growth are increasing the need for refrigeration and air conditioning systems. This industry is also growing as a result of stringent environmental regulations and growing knowledge of the benefits of sustainable refrigeration technology.
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Segmentation of Sustainable Refrigeration Technology Market-
By Component-
• Equipment
• Services
By Equipment-
• Chillers
• Cascades
• Condensing Units
• Display Cabinets
• Others
By Technology-
• CO2 Refrigeration Technology
• Propane Refrigeration Technology
• Ammonia Refrigeration Technology
• Others
By Application-
• Commercial
• Industrial
• Others
By End-User-
• Cold Storage
• Pharmaceutical and Biotechnology Companies
• Food and Beverage
• Others
By Region-
North America-
• The US
• Canada
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Mexico
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa
Read Overview Report- https://www.insightaceanalytic.com/report/sustainable-refrigeration-technology-market-/3097
About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
Contact us:
InsightAce Analytic Pvt. Ltd.
Visit: www.insightaceanalytic.com
Tel : +1 607 400-7072
Asia: +91 79 72967118
info@insightaceanalytic.com
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