CHICAGO, Nov. 25, 2019 /PRNewswire/ -- According to the new market research report "Industrial Refrigeration System Market by Component (Compressor, Condenser, Evaporator), Refrigerant Type (Ammonia, CO2), Application (Fruit & Vegetable Processing, Meat & Poultry, Refrigerated Warehouse), and Region - Global Forecast to 2025", published by MarketsandMarkets™, the Industrial Refrigeration System Market is expected to grow from USD 19.3 billion in 2019 to USD 24.8 billion by 2025, at a CAGR of 4.3%. The growing adoption of natural refrigerant-based systems owing to strict regulatory policies has resulted in the increased demand for industrial refrigeration systems. Other drivers for the industrial refrigeration system market growth include the increasing demand for innovative and compact refrigeration systems and ongoing government support to strengthen the cold chain infrastructure in developing countries.
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Compressors to hold largest share of industrial refrigeration system market during forecast period
Compressors are expected to account for the majority of the industrial refrigeration system market share during 2019–2025. In industrial refrigeration systems, compressors play a vital role by increasing refrigerant vapor pressure in a condenser to ensure suitable temperature for food storage and preservation applications. The rising number of refrigerated warehouses propels the industrial refrigeration compressor market growth.
CO2 refrigerant-based systems to witness highest CAGR in industrial refrigeration system market during forecast period
The market for CO2 refrigerant-based systems is expected to grow at the highest CAGR during 2019–2025. CO2 refrigerant has excellent thermodynamic properties and high energy efficiency, making it suitable for industrial refrigeration applications. Also, the initial and life cycle costs of CO2 -based refrigeration systems are lower than that of synthetic refrigerant-based systems. Moreover, the rising popularity of CO2 cascade refrigeration systems in various end-user industries would provide lucrative opportunities to the market for CO2 refrigerant-based systems.
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North America to hold largest share of industrial refrigeration system market during forecast period
North America is expected to hold the largest share of the industrial refrigeration system market in 2019, and a similar trend is likely to be observed during the forecast period. Ongoing growth in online grocery shopping across North America, coupled with continuously expanding application areas of natural refrigerant-based refrigeration systems, is expected to drive the industrial refrigeration system market in North America. Also, stringent regulations for the processing and supply of perishable food products, coupled with the rising number of refrigerated warehouses with advanced technologies in the region, are expected to facilitate the expansion in imports and exports of perishable products. This, in turn, is expected to propel the demand for industrial refrigeration systems in North America.
Browse in-depth TOC on "Industrial Refrigeration System Market"
107 – Tables
48 – Figures
197 – Pages
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Major players in the industrial refrigeration system market include Johnson Controls (Ireland), Emerson (US), Danfoss (Denmark), GEA (Germany), Mayekawa (Japan), Ingersoll-Rand (Ireland), Daikin (Japan), BITZER (Germany), United Technologies (US), and Evapco (US).
Please Explore Relevant Report:
Magnetic Refrigeration Market by Product (Refrigeration Systems, Air Conditioning Systems and Heat Pumps), Application (Domestic, Commercial, Transportation and Industrial), and Geography - Global Forecast to 2023
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About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Shelly Singh
MarketsandMarkets™ Inc.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/industrial-refrigeration-system-market.asp
Visit Our Web Site: https://www.marketsandmarkets.com
Content Source : https://www.marketsandmarkets.com/PressReleases/industrial-refrigeration-system.asp
SOURCE MarketsandMarkets
Download PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=245749288
Compressors to hold largest share of industrial refrigeration system market during forecast period
Compressors are expected to account for the majority of the industrial refrigeration system market share during 2019–2025. In industrial refrigeration systems, compressors play a vital role by increasing refrigerant vapor pressure in a condenser to ensure suitable temperature for food storage and preservation applications. The rising number of refrigerated warehouses propels the industrial refrigeration compressor market growth.
CO2 refrigerant-based systems to witness highest CAGR in industrial refrigeration system market during forecast period
The market for CO2 refrigerant-based systems is expected to grow at the highest CAGR during 2019–2025. CO2 refrigerant has excellent thermodynamic properties and high energy efficiency, making it suitable for industrial refrigeration applications. Also, the initial and life cycle costs of CO2 -based refrigeration systems are lower than that of synthetic refrigerant-based systems. Moreover, the rising popularity of CO2 cascade refrigeration systems in various end-user industries would provide lucrative opportunities to the market for CO2 refrigerant-based systems.
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North America to hold largest share of industrial refrigeration system market during forecast period
North America is expected to hold the largest share of the industrial refrigeration system market in 2019, and a similar trend is likely to be observed during the forecast period. Ongoing growth in online grocery shopping across North America, coupled with continuously expanding application areas of natural refrigerant-based refrigeration systems, is expected to drive the industrial refrigeration system market in North America. Also, stringent regulations for the processing and supply of perishable food products, coupled with the rising number of refrigerated warehouses with advanced technologies in the region, are expected to facilitate the expansion in imports and exports of perishable products. This, in turn, is expected to propel the demand for industrial refrigeration systems in North America.
Browse in-depth TOC on "Industrial Refrigeration System Market"
107 – Tables
48 – Figures
197 – Pages
Enquiry Before Buying:
https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=245749288
Major players in the industrial refrigeration system market include Johnson Controls (Ireland), Emerson (US), Danfoss (Denmark), GEA (Germany), Mayekawa (Japan), Ingersoll-Rand (Ireland), Daikin (Japan), BITZER (Germany), United Technologies (US), and Evapco (US).
Please Explore Relevant Report:
Magnetic Refrigeration Market by Product (Refrigeration Systems, Air Conditioning Systems and Heat Pumps), Application (Domestic, Commercial, Transportation and Industrial), and Geography - Global Forecast to 2023
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About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Shelly Singh
MarketsandMarkets™ Inc.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/industrial-refrigeration-system-market.asp
Visit Our Web Site: https://www.marketsandmarkets.com
Content Source : https://www.marketsandmarkets.com/PressReleases/industrial-refrigeration-system.asp
SOURCE MarketsandMarkets
Filed Under: Business
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