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Surging Demand For Frozen And Processed Food Boosts Growth In The Industrial Refrigeration System Market: Strategic Insights Driving Industrial Refrigeration Systems Market Momentum in 2025
Industrial Refrigeration Systems Market
How Large Will the Industrial Refrigeration Systems Market Size By 2025?
The market size for industrial refrigeration systems has seen a consistent expansion in recent years. Its value is projected to escalate from $23.27 billion in 2024 to $24.3 billion in 2025, representing a compound annual growth rate (CAGR) of 4.4%. The historical growth of this market has been spurred by factors such as environmental regulatory standards, concerns about energy efficiency, the globalization of supply chains, market amalgamation, and shifting consumer behaviors.
How Big Is the Industrial Refrigeration Systems Market Size Expected to Grow by 2029?
The market for industrial refrigeration systems is projected to experience robust growth in the coming years, reaching a value of $31.05 billion in 2029 with a compound annual growth rate (CAGR) of 6.3%. This expected increase is largely due to several factors, which include the growing need for cold storage, the implementation of natural refrigerants, the integration of renewable energy, and an emphasis on strategic alliances and energy efficiency regulations. Key trends in this forecast period encompass the adoption of environmentally friendly refrigerants, improvements in energy efficiency, digitalization and IoT integration, customization and modularization, attention to regulatory compliance and safety, as well as a strong focus on cold chain logistics.
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Which Key Market Drivers Powering Industrial Refrigeration Systems Market Expansion and Growth?
The rise in the interest for frozen and packaged foods is anticipated to augment the expansion of the industrial refrigeration system sector onwards. Quick-frozen and constantly frozen until utilized foodstuff is what is considered as frozen food, whilst a processed food signifies a food commodity that has undergone multiple mechanical or chemical procedures to alter or conserve it. These industrial refrigeration instruments are employed in the process of food preparation for the chilling of vast quantities of water utilized. For example, in October 2023, frozen food sales skyrocketed to $74.2 billion, as reported by the American Frozen Food Institute, a national trade organization for the frozen food sector in the US, signalling durable consumer interest and market steadiness. More than 38% of buyers regularly buy frozen foods, appreciating the accessibility and nutritional advantages they offer. Moreover, a healthy 66% of primary consumers view the frozen food section as providing improved products, underlining the mounting focus on wellbeing among consumers. Consequently, the surging demand for frozen and processed foods is propelling the industrial refrigeration system market.
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What Are the Key Trends Driving Industrial Refrigeration Systems Market Growth?
Product innovation is becoming a trending aspect in the industrial refrigeration system market. Mainstream corporations in this market are designing their industrial refrigeration systems with newer, environmentally-friendly refrigerants. Concrete example, in November 2022, the Chemours Company, an American chemical establishment, partnered with Bohn de Mexico, a Mexican industrial refrigeration technology manufacturer, to launch low global warming potential (GWP) industrial refrigeration alternatives. Bohn de Mexico integrated non-ozone depleting (ODP) and low GWP refrigerants like Opteon XL20 (R-454 C), Opteon XL40 (R-454A), and Opteon XL10 (R-1234yf) in its BOHN Ecoflex condensing units. Utilizing the network of certified distributors set up by Chemours, that is already providing traditional fluids, the alliance between BOHN and Chemours will also ensure the availability of substitute products at the diverse venues where these systems will be installed.
What Are the Emerging Segments in the Industrial Refrigeration Systems Market?
The industrial refrigeration systemsmarket covered in this report is segmented -
1) By Component: Compressors, Rotary Screw Compressors, Centrifugal Compressors, Reciprocating Compressors, Diaphragm Compressors, Evaporators, Condensers, Controls
2) By Refrigerant: Ammonia, Carbon Dioxide
3) By Application: Refrigerated Warehouse, Refrigerated Transportation, Beverage Processing, Dairy And Ice Cream Processing
Subsegments:
1) By Compressors: Technology, Refrigerant Type, Capacity
2) By Rotary Screw Compressors: Oil-Flooded, Dry Screw
3) By Centrifugal Compressors: Radial Flow, Axial Flow
4) By Reciprocating Compressors: Open-Type Compressors, Hermetic Compressors, Semi-Hermetic Compressors
5) By Diaphragm Compressors: Single-Stage Diaphragm Compressors, Multi-Stage Diaphragm Compressors
6) By Evaporators: Direct Expansion Evaporators, Flooded Evaporators, Shell And Tube Evaporators
7) By Condensers: Air-Cooled Condensers, Water-Cooled Condensers, Evaporative Condensers
8) By Controls: Electronic Controllers, Mechanical Controllers, Pressure Controls, Temperature Controls
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Who Are the Global Leaders in the Industrial Refrigeration Systems Market?
Major companies operating in the industrial refrigeration systems market include Johnson Controls International PLC, GEA Group Aktiengesellschaft, Daikin Industries Ltd., EVAPCO Inc., Bitzer Kuhlmaschinenbau GmbH, LU-VE GROUP, Güntner GmbH & Co. KG., Star Refrigeration Ltd., Emerson Electric Co., Lennox International Inc., Mayekawa Manufacturing Co. Ltd., Dover Corporation, Ingersoll Rand plc, Linde, M&M Systems Inc., MAN Energy Solutions, Mark Refrigeration Equipment Company, MTI Micro-Tech International Inc., Parker Hannifin Corporation, Polycold Systems Inc., Enviro Tech International Inc., Refrigeration Engineering Corporation, Rivacold S.r.l., SCM Frigo Group S.r.l., Sterling Cryogenics BV., Trane Technologies plc, United Technologies Corporation, Vilter Manufacturing Corporation, Vogt Ice Machine Co., Weiss Umwelttechnik GmbH
Which are the Top Profitable Regional Markets for the Industrial Refrigeration Systems Industry?
North America was the largest region in the Industrial Refrigeration System in 2024. The regions covered in the industrial refrigeration systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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