The global industrial refrigeration market is estimated to generate revenue of USD 41.5 billion by 2024 and is expected to witness 6.6% CAGR during the forecast period. Industrial refrigeration system utilizes cooling and refrigeration systems that enables cooling and eradicate heat from a platform of low temperature. These systems are installed at refrigeration plants for several industrial applications such as cold storage, food & beverage processing and others.

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On the basis of application the global industrial refrigeration market is segmented into oil & gas, food & beverage, chemicals & pharmaceuticals and others. Among all these segments food & beverage segment is expected to contribute largest revenue and is also expected to witness a CAGR of 5.8% during the forecast period. In food & beverage industry, the refrigeration systems are required for the processing, delivering and storing of products at desired cooling place.

Geographically, Asia-Pacific is the largest industrial refrigeration market and is also anticipated to grow at the fastest CAGR of 7.9% during the forecast period owing to rapid growth opportunities observed from developing cold-chain storage infrastructure. North America is the second largest market and is expected to witness considerable growth during the forecast period. Among all the countries in the region, the U.S. is the largest consumer in industrial refrigeration market due to extensive demand from food & beverage processing sector and refrigerated warehouses.

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Some of the major players in the global industrial refrigeration market include Johnson Controls, GEA Group, Industrial Frigo, Emerson Electric, Bitzer, Danfoss, United Technologies Corporation, Star Refrigeration, Hussmann Corporation, and Dover Corporation.

Global Industrial Refrigeration Market Coverage

Type Insight and Forecast 2014 - 2024

Industrial Racks
Open Screw
Open Reciprocating
Evaporator Units
Industrial Heat Exchangers
Brazed Plate
Shell & Tube
Others
Industrial Compressors
Open Screw
Open Reciprocating
Others
Others
Application Insight and Forecast 2014 - 2024

Oil & Gas
Food & Beverage
Chemicals & Pharmaceuticals
Others
Geographical Segmentation

Industrial Refrigeration Market by Region

North America

U.S.
Canada
Mexico
Europe

Germany
U.K.
France
Italy
Spain
Rest of Europe
Asia-Pacific

Japan
China
India
Australia
South Korea
Rest of Asia-Pacific
Rest of the World (RoW)

Brazil
Saudi Arabia
U.A.E
South Africa
Other

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