Industrial Refrigeration Market Registering a CAGR of 5.4% by 2028

 Industrial Refrigeration Market Drivers:

Owing to growth in population and rise in trend of consumption of packaged food, the demand for industrial refrigeration has increased in the food & beverage industry. In addition, upgrading of old cold storages in developing countries is driving the industrial refrigeration market. Moreover, adoption of eco-friendly and energy efficient refrigerants is a major factor driving the industrial refrigeration market.

The industrial refrigeration market was valued at $19.3 billion in 2020, and is expected to reach $29.2 billion by 2028, registering a CAGR of 5.4% from 2021 to 2028.

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Top Leading Players:

The major players profiled in the industrial refrigeration market include Daikin Industries, Ltd., Emerson Electric Co., Evapco, Inc., GEA Group AG, Johnson Controls, Inc., Ingersoll Rand, LU-VE Group, Mayekawa Mfg. Co. Ltd., The Danfoss Group, and Carrier.

Major companies in the market have adopted strategies such as business expansion, partnership, acquisition, product development and product launch, to offer better products and services to customers in the industrial refrigeration market.

Industrial Refrigeration Segments:

  • By Application
    • Fresh fruits & vegetables
    • Meat, poultry & fish
    • Dairy & ice cream
    • Beverages
    • Chemicals
    • Pharmaceuticals
    • Others

  • By Type
    • Stationary Refrigeration
    • Transport Refrigeration

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Segments Outlook:

By region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Russia, Belarus, Croatia, Czech Republic, Hungary, Lithuania, Poland, Romania, Serbia and Montenegro, Bulgaria, Slovakia, Ukraine, Rest of Europe), Asia-Pacific (China, India, Japan. Australia and rest of Asia-Pacific), and LAMEA (Latin America, Africa, Turkey, Kazakhstan, rest of Middle East).

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