Global Industrial Refrigeration Equipment Market is Expected to Grow at 7% CAGR
The global industrial refrigeration market is expected to grow from $22,571 million in 2014, and reach $33,904 million in 2020.
The global industrial refrigeration market is expected to grow from $22,571 million in 2014, and reach $33,904 million in 2020, with a CAGR of 7.1%. Evaporator unit, industrial racks, and compressor together accounted about 64% share of the global industrial refrigeration market in 2014. The growth of food processing industries, in addition to the expansion of refrigerated warehouses in developing countries, such as India, China, and Brazil, is expected to boost the demand of industrial refrigeration during the forecast period. The growth in outsourcing of pharmaceutical manufacturing facility by developed countries has lifted up the demand of pharmaceuticals cold chain supply and logistic in recent years.
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Industrial refrigeration stereotypically plays an important role among various manufacturing facilities in chemicals, and oil & gas industry. The industrial refrigeration system is an efficient combination of different electrical and mechanical components including compressors, heat exchangers, evaporators, racks and others; while the component used for the system may be in distinct parts, from more than one manufacturer. The parts such as compressor, heat exchangers, and evaporator unit are assembled under a custom engineered system by the installation service providers.
The information and data in the publication “Global Industrial Refrigeration Market Size, Share, Development, Growth and Demand Forecast to 2020 – Industry Insights by Type (Evaporator Unit, Industrial Racks, Compressor, Heat Exchangers, Other Industrial Refrigeration Units)” represent the research and analysis of data from various primary and secondary sources. Both, Top-down and Bottom-up approach has been used to calculate the global Industrial Refrigeration market by type and by technology. The market numbers for countries are obtained through bottom-up approach. P&S Market Research analysts and consultants interact with leading companies of the concerned domain to substantiate every value of data presented in this report. The company bases its primary research on discussions with prominent professionals and analysts in the industry, which is aided by informed and detailed, online and offline research.
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The major companies operating in the global industrial refrigeration market include. Johnson Controls Inc., Dover Corporation, Hussmann Corporation, Star Refrigeration Ltd., United Technologies Corporation, Danfoss A/S, BITZER Kühlmaschinenbau GmbH, Emerson Electric Co., GEA Group Aktiengesellschaft, and Industrial Frigo S.R.L.
INDUSTRIAL REFRIGERATION MARKET SEGMENTATION
Industrial racks market breakdown by technology
Compressor market breakdown by technology
Heat exchangers market breakdown by technology
Shell & Tube/Coaxial
Other Industrial Refrigeration Units
Rest of Europe
Rest of Asia-Pacific
Rest of the World (ROW)
Rest of RoW
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Nov 07, 2016