Some of the factors driving the growth of the Milk Tank Cooling System market in industrial automation are the increased use of machinery and the demand for high quality products in various industries, as well as the installation of smart devices.
According to Future Market Insights (FMI) the Global Milk Tank Cooling System Market is expected to grow with a year-on-year growth of 3.2% in 2022 reaching a value of about US$ 656.7 Mn by 2022 end.
Automation is being implemented in industries to increase efficiency and reduce labour costs. The global Milk Tank Cooling System Market is expected to grow at a significant CAGR of 3.3 percent between 2022 and 2029.
Europe has been identified as one of the most important markets by FMI. Because of its significant share of the dairy sector, Europe dominates the global market for milk tank cooling systems, followed by North America. North America and Europe are estimated to hold a collective revenue share of 54.6 % in the global market, by the end of 2029.
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Key Takeaways – Milk Tank Cooling System Market Study
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Milk Tank Cooling System Market: Competition Overview
The global milk tank cooling system market is highly competitive, with the presence of large number of small- and medium-sized players actively operating in the global market. Danfoss, GEA Group AG, Paul Mueller, Denso, and Packo Cooling are identified as prominent players in the global milk tank cooling system market. Adoption of automated milk tank cooling systems and association of local milk farms with dairy co-operatives are key growth strategies adopted by market participants.
What Is Covered in the Report?
The research scope of the global milk tank cooling system market has been primarily bifurcated into three segments: application, configuration and capacity. The study provides an in-depth analysis of market sizing, forecasting, and market share analysis for milk tank cooling system. The report delivers a comprehensive assessment of the important dynamics of the milk tank cooling system market. The scope of the research includes milk tank cooling systems installed in milk farms and milk processing plants.
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Jul 19, 2022