Global Industrial Refrigeration Market Trends, Applications, Analysis, Growth, and Forecast: 2017 to 2026

MarketResearch.biz delivers in-depth insights on the global industrial refrigeration market in its upcoming report titled, “Global Industrial Refrigeration Market Trends, Applications, Analysis, Growth, and Forecast: 2017 to 2026”. The global industrial refrigeration market is estimated to register a CAGR of X.X% in terms of value during forecast period 2017–2026. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2026. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global industrial refrigeration market report has been segmented on the basis of component, refrigeration type, application, and region.

Refrigerator is an electronic appliance which is generally used to cool food items and also used to store of beverage or vaccines in healthcare sector. A refrigerator (or fridge), can be powered by electricity, propane, gas or kerosene. Refrigerators help lower the temperature, and even evaporative coolers can be considered as refrigerators. Many refrigerators also include freezers, and are often referred to as fridges or freezers.

Increasing demand from various end-use industries such as chemical, pharmaceutical, food and beverage, etc. is a major factor driving growth of the global industrial refrigeration market. In addition, rising preference for FMCG among general population is another factor expected to support growth of the global industrial refrigeration market. Moreover, increasing use of refrigerators in transportation such as to deliver milk and dairy products, fish and bakery products is expected to support growth of the global industrial refrigeration market.

However, high cost of refrigeration is a major factor restraining growth of the global industrial refrigeration market. In addition, high electricity consumption and rising environmental concern, emission of CFC form some of the refrigerators is expected to limit growth of the global industrial refrigeration market to certain extent.

Increasing R&D activities by manufacturers and technological advancements such as development cost effective system that consumes less electricity and provide maximum cooling is expected to create new opportunities in terms of revenue to players operating in the global industrial refrigeration market over the forecast period.

North America market is expected to dominate in the global industrial refrigeration market with higher revenue share as compared to that of the other regional markets, and is expected to continue its dominance during the forecast period. This can be attributed to increasing demand from food and beverage industry, chemical and pharmaceutical industry, and presence of prominent players operating in countries in this region. Europe market accounts for significant revenue share in the global industrial refrigeration market followed by markets in Asia Pacific, Latin America and Middle East & Africa respectively. The market in Asia Pacific is projected to register fastest growth in terms of revenue, owing increasing government expenditure for upgradation of present cold storage infrastructure in emerging economies in this region.

Global Industrial Refrigeration Market Segmentation:

By Component:

• Compressor
• Condenser
• Evaporator
• Control

By Refrigerant Type:

• Ammonia
• Carbon Dioxide
• Hydrofluorocarbon (HFC)
• Others (HCFC and HC)

By Application:

• Fruit & Vegetable Processing
• Beverage
• Refrigerated Warehouse
• Chemical & Pharmaceutical
• Dairy & Ice Cream Processing
• Meat, Poultry, & Fish Processing
• Refrigerated Transportation

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa