The industrial refrigeration market is expected to grow at a compound annual growth rate (CAGR) of 5.3% from 2023 to 2032, from an estimated size of USD 20.3 billion in 2022 to USD 34 billion by 2032. Since refrigeration inhibits bacterial growth, the major goals of industrial refrigeration are to preserve the quality of perishable items and avoid spoiling them in cold storage facilities. The market is in line with the chemical, petrochemical, food & beverage, and pharmaceutical sectors.
Large industrial processes and equipment freezing and cooling is the focus of the specialist field of industrial refrigeration. Industrial freezers with precise temperature ranges are frequently equipped with advanced temperature control systems. They are made to resist harsh industrial settings and are frequently used to store huge quantities of temperature-sensitive items.

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GROWTH DRIVERS
Because of increased worries about spoiling and the need to maintain product freshness and quality, cold chain systems are becoming more and more in demand, which is driving the growth of the industrial refrigeration industry. Many developing countries have implemented advanced refrigeration systems in their cold storage and cold chain infrastructure to provide continuous temperature control during the transit and storage of perishable goods like food, drinks, chemicals, medicines, and pharmaceuticals.
The market for industrial refrigeration is expanding as a result of this. The pharmaceutical sector needs industrial refrigeration equipment to store samples during research and development projects in order to create new medications. Consequently, there is a growing need for industrial refrigeration.
MARKET SEGMENTATION:
By Components -
· Compressors:
o Reciprocating Compressors - Hermetic Type, Semi-Hermetic Type, Open Type
o Screw Compressors - Single Screw Compressors, Twin-Screw Compressors
o Centrifugal Compressors
· Evaporators:
o Air-Cooled Evaporators
o Water-Cooled Evaporators
· Condensers:
· Air-Cooled Condensers
· Water-Cooled Condensers
· Evaporative Condensers
· Controls
o Compressor Controls
o Condenser Controls
o Evaporator Controls
· Vessels
· Pumps
· Valves
· Auxiliary Equipment
By Refrigerant Type -
· Ammonia
· CO2
· Others
By Application -
· Refrigerated Transport
o Trucks & Trailers
o Marine Transport
o Rail Transport
o Air Transport
· Refrigerated Warehousing
o Cold Storage Warehouses
o Distribution Centers
o Others
· Fruits & Vegetable Processing
· Beverage Processing
· Meat, Poultry & Fish Processing
· Dairy & Ice Cream Processing
· Chemical, Petrochemicals, & Pharmaceuticals
By Region -
· North America
· Europe
· Asia Pacific
· Latin America
· Middle East & Africa

Global Key Players:
· M&M Systems, Inc.
· Johnson Controls.
· Ingersoll-Rand.
· United Technologies Corporation.
· EVAPCO, Inc.
· Bitzer.
· Industrial Frigo SRL.
· Emersion.
· Frick India Limited
· GEA
· Daikin Industries Ltd
· Dorin
· Howden Group
· Danfoss
· Kirloskar Group

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