Industrial Refrigeration Systems Market
Industrial Refrigeration Systems Market Size, Share & Trends Analysis Report by Component (Compressors, Condensers, Evaporators, Controls, and Others), by Capacity (Less than 100kW, 100-500kW, 500-1000kW, 1000-5000kW and More than 5000kW), by Application (Refrigerated Warehouse, Food & Beverage, Chemical Petrochemical & Pharmaceuticals and Refrigerated Transportation) and by Refrigerant Type (Ammonia (NH3), Carbon Dioxide (CO2), Hydrofluorocarbons (HFCs), Hydro chlorofluorocarbons (HCFCs)) Forecast Period (2025-2035)
Industry Overview
Industrial refrigeration systems market is projected to reach $36.5 billion in 2035 from $23.3 billion in 2024, is growing at a CAGR of 4.2% during the forecast period (2025-2035). The industrial refrigeration market is experiencing significant growth, driven by the increasing demand for cold storage solutions in sectors such as food and beverage, pharmaceuticals, and chemicals. The growing need for efficient storage and transportation of perishable goods is a key factor, especially with the continued expansion of global food supply chains. In addition, stringent regulations on food safety and energy efficiency are pushing industries to adopt more advanced refrigeration technologies. For instance, as of August 2024, India had approximately 8,698 cold storage units with a combined capacity of 395.96 lakh metric tons (MT). Over the past decade, 1,793 new cold storage were established, adding 71.54 lakh MT to the national capacity.
Market Dynamics
Magnetic Refrigeration Technology: An Advanced Cooling Technology
Magnetic refrigeration is an advanced cooling technology that utilizes the magnetocaloric effect (MCE) to achieve refrigeration without traditional gas-based refrigerants. The adoption of magnetic refrigeration technology is gaining momentum due to its numerous advantages over conventional vapor-compression refrigeration systems. One of the primary reasons for this shift is its energy efficiency—magnetic refrigeration can reduce energy consumption by 20-30% compared to traditional methods. Additionally, this technology eliminates the use of hydrofluorocarbon (HFC) and hydrofluoroolefin (HFO) refrigerants, which contribute to global warming and are subject to stringent environmental regulations. Haier Co., Ltd has integrated magnetic refrigeration technology into its high-end refrigerator models. This initiative aims to enhance energy efficiency and provide sustainable cooling solutions to consumers. Haier's commitment to eco-friendly technologies has solidified its position in the market.
Impact of Digital Transformation and Artificial Intelligence (AI) in Refrigeration
The growing adoption of the Internet of Things (IoT), Big Data, and automation technologies is transforming the industrial refrigeration sector, enabling smarter and more efficient cooling solutions. Companies are increasingly integrating Artificial Intelligence (AI) and Machine Learning (ML) to optimize energy consumption, enhance predictive maintenance, and improve system reliability. One of the primary drivers of this transition is the need to reduce operational costs while ensuring optimal performance of refrigeration assets. AI-powered predictive maintenance systems use ML algorithms to analyze sensor data, detect anomalies, and predict potential failures before they occur. This approach minimizes downtime, prevents costly repairs, and extends equipment lifespan. Additionally, digital connectivity and real-time monitoring enable businesses to track refrigeration systems remotely, ensuring continuous optimization and compliance with stringent energy regulations. Leading companies such as Johnson Controls, Danfoss, Emerson, and Trane Technologies are actively investing in AI-driven refrigeration solutions. These technologies help industries like food & beverage, pharmaceuticals, and cold chain logistics automate operations, reduce energy consumption, and improve sustainability.
Market Segmentation
- Based on the components, the market is segmented into compressors, condensers, evaporators, controls, and others (capillary tubes, condenser coils).
- Based on the capacity, the market is segmented into less than 100kw, 100-500kw, 500-1000kw, 1000-5000kw, and More than 5000kw.
- Based on the Application, the market is segmented into refrigerated warehouses, food & beverage, chemical petrochemical & pharmaceuticals, and refrigerated transportation.
- Based on the Refrigerant Type the market is segmented into ammonia (NH3), carbon dioxide (CO2), hydrofluorocarbons (HFCS), and hydrochlorofluorocarbons (HCFCS).
Compressors segment Lead the Market with the Largest Share
In 2024, the compressors segment held a substantial 23% market share in the industrial refrigeration sector. The industry's growing emphasis on energy efficiency has led to a shift toward advanced compressor technologies designed to lower operational costs and reduce carbon footprints. To optimize energy consumption, businesses are increasingly integrating variable speed drives (VSD) and two-stage compression systems into their refrigeration infrastructure. These innovations enhance cooling efficiency while significantly minimizing power wastage. Additionally, regulatory policies focused on energy conservation are accelerating the adoption of high-efficiency compressors across industrial applications. As sustainability continues to be a top priority, manufacturers are actively investing in the development of next-generation compressors to meet evolving market demands and environmental standards. For instance, the MSME ministry implements the Technology and Quality Upgradation Support to Micro, Small, and Medium Enterprises (TEQUP) scheme. This initiative encourages MSMEs to adopt energy-efficient technologies by providing a capital subsidy of 25% of the project cost, up to a maximum of ?10 lakh. The scheme aims to enhance competitiveness through energy efficiency and product quality certification.
Global Industrial Refrigeration Systems Market Share by Capacity, 2024 (%)
Demand for Medium-Capacity Industrial Refrigeration Systems
In the industrial refrigeration systems market, medium-capacity systems typically ranging from 100 to 500 kW of refrigeration are witnessing the highest demand. This trend is primarily driven by their versatility and efficiency, making them ideal for industries requiring large-scale yet energy-efficient cooling solutions. The food and beverage industry is the largest consumer of these systems, utilizing them for cold storage, freezing, and chilling to maintain product quality and safety. Other key industries, including pharmaceuticals and chemical processing, also rely on medium-capacity refrigeration to store temperature-sensitive products and regulate processing temperatures.
Regional Outlook
The global industrial refrigeration systems market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, Australia, Indonesia, Thailand, Vietnam and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America. Among these regions, North America is expected to command a significant share of the global market, driven by emerging trends such as the adoption of variable capacity compressors and increased use of natural refrigerants.
The Asia-Pacific Region is expected to grow at a Significant CAGR
Among all regions, the Asia-Pacific region is expected to grow at a considerable CAGR over the forecast period. Regional growth is attributed to the expansion of the e-commerce platform. E-commerce has impacted consumer buying behavior as online groceries have become a lifestyle requirement. Furthermore, retailers must store perishables at a standard temperature set by HACCP thus increasing the need for suitable refrigerated storage systems. Additionally, India is a major center for vaccine manufacturing, and vaccines need to be stored at specific temperatures to maintain their effectiveness. This has led to a rise in demand for reliable refrigeration and cold storage systems. Various governments are implementing initiatives to expand cold storage infrastructure and improve refrigerated warehouse management in their countries.
Additionally, the presence of key food & beverage companies and expansion in the hospitality sector particularly in China and India drives the market growth in Asia-Pacific Region. These companies are investing heavily in industrial refrigeration equipment that helps maintain the quality and freshness of frozen foods. Major restaurants in the region are also relying on this equipment to preserve enormous quantities of food products.
Market Players Outlook
The major companies serving the industrial refrigeration systems market include Daikin Industries, Ltd., Emerson Electric Co., Ingersoll Rand Plc., Johnson Controls International Plc. and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market.
Recent Development
- In March 2024, CMPX Tecumseh introduced the RG and HG compressors compatible with R-454B refrigerant, addressing the industry's shift towards lower Global Warming Potential (GWP) standards. The company also plans to expand its offerings to include R-32 models by late 2024.
The Report Covers
- Market value data analysis for 2024 and forecast to 2035.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global industrial refrigeration systems market. Based on the availability of data, information related to new products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
• Global Industrial Refrigeration Systems Market Sales Analysis – Component | Capacity | |Application | Refrigerant Type ($ Million)
• Industrial Refrigeration Systems Market Sales Performance of Top Countries
1.1. Research Methodology
• Primary Research Approach
• Secondary Research Approach
1.2. Market Snapshot
2. Market Overview and Insights
2.1. Scope of the Study
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Industrial Refrigeration Systems Industry Trends
2.2.2. Market Recommendations
2.3. Porter's Five Forces Analysis for the Industrial Refrigeration Systems Market
2.3.1. Competitive Rivalry
2.3.2. Threat of New Entrants
2.3.3. Bargaining Power of Suppliers
2.3.4. Bargaining Power of Buyers
2.3.5. Threat of Substitutes
3. Market Determinants
3.1. Market Drivers
3.1.1. Drivers For Global Industrial Refrigeration Systems Market: Impact Analysis
3.2. Market Pain Points and Challenges
3.2.1. Restraints For Global Industrial Refrigeration Systems Market: Impact Analysis
3.3. Market Opportunities
4. Competitive Landscape
4.1. Competitive Dashboard – Industrial Refrigeration Systems Market Revenue and Share by Manufacturers
• Industrial Refrigeration Systems Product Comparison Analysis
• Top Market Player Ranking Matrix
4.2. Key Company Analysis
4.2.1. Daikin Industries, Ltd.
4.2.1.1. Overview
4.2.1.2. Product Portfolio
4.2.1.3. Financial Analysis (Subject to Data Availability)
4.2.1.4. SWOT Analysis
4.2.1.5. Business Strategy
4.2.2. Emerson Electric Co.
4.2.2.1. Overview
4.2.2.2. Product Portfolio
4.2.2.3. Financial Analysis (Subject to Data Availability)
4.2.2.4. SWOT Analysis
4.2.2.5. Business Strategy
4.2.3. Johnson Controls International Plc
4.2.3.1. Overview
4.2.3.2. Product Portfolio
4.2.3.3. Financial Analysis (Subject to Data Availability)
4.2.3.4. SWOT Analysis
4.2.3.5. Business Strategy
4.2.4. Carrier Global Corporation
4.2.4.1. Overview
4.2.4.2. Product Portfolio
4.2.4.3. Financial Analysis (Subject to Data Availability)
4.2.4.4. SWOT Analysis
4.2.4.5. Business Strategy
4.3. Top Winning Strategies by Market Players
4.3.1. Merger and Acquisition
4.3.2. Product Launch
4.3.3. Partnership And Collaboration
5. Global Industrial Refrigeration Systems Market Sales Analysis by Component ($ Million)
5.1. Compressors
5.2. Condensers
5.3. Evaporators
5.4. Controls
5.5. Others (Capillary tube, Condensers coils)
6. Global Industrial Refrigeration Systems Market Sales Analysis by Capacity ($ Million)
6.1. Less than 100kW
6.2. 100-500kW
6.3. 500-1000kW
6.4. 1000-5000kW
6.5. More than 5000kW
7. Global Industrial Refrigeration Systems Market Sales Analysis by Application ($ Million)
7.1. Refrigerated Warehouse
7.2. Food & Beverage
7.3. Chemical Petrochemical & Pharmaceuticals
7.4. Refrigerated Transportation
8. Global Industrial Refrigeration Systems Market Sales Analysis by Refrigerant Type ($ Million)
8.1. Ammonia (NH3)
8.2. Carbon Dioxide (CO2)
8.3. Hydrofluorocarbons (HFCs)
8.4. Hydrochlorofluorocarbons (HCFCs)
9. Regional Analysis
9.1. North American Industrial Refrigeration Systems Market Sales Analysis – Component | Capacity | Application | Refrigerant Type |Country ($ Million)
• Macroeconomic Factors for North America
9.1.1. United States
9.1.2. Canada
9.2. European Industrial Refrigeration Systems Market Sales Analysis – Component | Capacity| Application | Refrigerant Type | Country ($ Million)
• Macroeconomic Factors for Europe
9.2.1. UK
9.2.2. Germany
9.2.3. Italy
9.2.4. Spain
9.2.5. France
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Asia-Pacific Industrial Refrigeration Systems Market Sales Analysis – Component | Capacity | Application | Refrigerant Type | Country ($ Million)
• Macroeconomic Factors for Asia-Pacific
9.3.1. China
9.3.2. Japan
9.3.3. South Korea
9.3.4. India
9.3.5. Australia & New Zealand
9.3.6. ASEAN Countries (Thailand, Indonesia, Vietnam, Singapore, And Others)
9.3.7. Rest of Asia-Pacific
9.4. Rest of the World Industrial Refrigeration Systems Market Sales Analysis – Component | Capacity | Application | Refrigerant Type | Country ($ Million)
• Macroeconomic Factors for the Rest of the World
9.4.1. Latin America
9.4.2. Middle East and Africa
10. Company Profiles
10.1. ALTA Refrigeration
10.1.1. Quick Facts
10.1.2. Company Overview
10.1.3. Product Portfolio
10.1.4. Business Strategies
10.2. Carrier Global Corporation
10.2.1. Quick Facts
10.2.2. Company Overview
10.2.3. Product Portfolio
10.2.4. Business Strategies
10.3. Daikin Industries, Ltd.
10.3.1. Quick Facts
10.3.2. Company Overview
10.3.3. Product Portfolio
10.3.4. Business Strategies
10.4. Danfoss A/S
10.4.1. Quick Facts
10.4.2. Company Overview
10.4.3. Product Portfolio
10.4.4. Business Strategies
10.5. Emerson Electric Co.
10.5.1. Quick Facts
10.5.2. Company Overview
10.5.3. Product Portfolio
10.5.4. Business Strategies
10.6. EVAPCO, Inc.
10.6.1. Quick Facts
10.6.2. Company Overview
10.6.3. Product Portfolio
10.6.4. Business Strategies
10.7. Frick Industrial Refrigeration
10.7.1. Quick Facts
10.7.2. Company Overview
10.7.3. Product Portfolio
10.7.4. Business Strategies
10.8. GEA Group AG
10.8.1. Quick Facts
10.8.2. Company Overview
10.8.3. Product Portfolio
10.8.4. Business Strategies
10.9. Ingersoll Rand PLC
10.9.1. Quick Facts
10.9.2. Company Overview
10.9.3. Product Portfolio
10.9.4. Business Strategies
10.10. Innovative Refrigeration Systems, Inc.
10.10.1. Quick Facts
10.10.2. Company Overview
10.10.3. Product Portfolio
10.10.4. Business Strategies
10.11. Johnson Controls International Plc
10.11.1. Quick Facts
10.11.2. Company Overview
10.11.3. Product Portfolio
10.11.4. Business Strategies
10.12. Lennox International Inc.
10.12.1. Quick Facts
10.12.2. Company Overview
10.12.3. Product Portfolio
10.12.4. Business Strategies
10.13. LU-VE S.p.A
10.13.1. Quick Facts
10.13.2. Company Overview
10.13.3. Product Portfolio
10.13.4. Business Strategies
10.14. Phillips Refrigeration
10.14.1. Quick Facts
10.14.2. Company Overview
10.14.3. Product Portfolio
10.14.4. Business Strategies
10.15. Star Refrigeration Ltd.
10.15.1. Quick Facts
10.15.2. Company Overview
10.15.3. Product Portfolio
10.15.4. Business Strategies
1. Global Industrial Refrigeration Systems Market Research And Analysis By Component, 2024-2035 ($ Million)
2. Global Industrial Refrigeration Compressors Market Research And Analysis By Region, 2024-2035 ($ Million)
3. Global Industrial Refrigeration Condensers Market Research And Analysis By Region, 2024-2035 ($ Million)
4. Global Industrial Refrigeration Evaporators Market Research And Analysis By Region, 2024-2035 ($ Million)
5. Global Industrial Refrigeration Controls Market Research And Analysis By Region, 2024-2035 ($ Million)
6. Global Others Industrial Refrigeration Components Market Research And Analysis By Region, 2024-2035 ($ Million)
7. Global Industrial Refrigeration Systems Market Research And Analysis By Capacity, 2024-2035 ($ Million)
8. Global Less Than 100kw Industrial Refrigeration Systems Market Research And Analysis By Region, 2024-2035 ($ Million)
9. Global 100-500kw Industrial Refrigeration Systems Market Research And Analysis By Region, 2024-2035 ($ Million)
10. Global 500-1000kw Industrial Refrigeration Systems Market Research And Analysis By Region, 2024-2035 ($ Million)
11. Global 1000-5000kw Industrial Refrigeration Systems Market Research And Analysis By Region, 2024-2035 ($ Million)
12. Global More Than 5000kw Industrial Refrigeration Systems By Market Research And Analysis By Region, 2024-2035 ($ Million)
13. Global Industrial Refrigeration Systems Market Research And Analysis By Application, 2024-2035 ($ Million)
14. Global Industrial Refrigeration Systems For Warehouse Market Research And Analysis By Region, 2024-2035 ($ Million)
15. Global Industrial Refrigeration Systems For Food & Beverage Market Research And Analysis By Region, 2024-2035 ($ Million)
16. Global Industrial Refrigeration Systems For Chemical Petrochemical & Pharmaceuticals Market Research And Analysis By Region, 2024-2035 ($ Million)
17. Global Industrial Refrigeration Systems For Transportation Market Research And Analysis By Region, 2024-2035 ($ Million)
18. Global Industrial Refrigeration Systems Market Research And Analysis By Refrigerant Type, 2024-2035 ($ Million)
19. Global Ammonia (NH3) Based Industrial Refrigeration Systems Market Research And Analysis By Region, 2024-2035 ($ Million)
20. Global Carbon Dioxide (CO2) Based Industrial Refrigeration Systems Market Research And Analysis By Region, 2024-2035 ($ Million)
21. Global Hydrofluorocarbons (HFCS) Based Industrial Refrigeration Systems Market Research And Analysis By Region, 2024-2035 ($ Million)
22. Global Hydro Chlorofluorocarbons (HCFCS) Based Industrial Refrigeration Systems Market Research And Analysis By Region, 2024-2035 ($ Million)
23. Global Industrial Refrigeration Systems Market Research And Analysis By Region, 2024-2035 ($ Million)
24. North American Industrial Refrigeration Systems Market Research And Analysis By Country, 2024-2035 ($ Million)
25. North American Industrial Refrigeration Systems Market Research And Analysis By Component, 2024-2035 ($ Million)
26. North American Industrial Refrigeration Systems Market Research And Analysis By Capacity, 2024-2035 ($ Million)
27. North American Industrial Refrigeration Systems Market Research And Analysis By Application, 2024-2035 ($ Million)
28. North American Industrial Refrigeration Systems Market Research And Analysis By Refrigerant Type, 2024-2035 ($ Million)
29. European Industrial Refrigeration Systems Market Research And Analysis By Country, 2024-2035 ($ Million)
30. European Industrial Refrigeration Systems Market Research And Analysis By Component, 2024-2035 ($ Million)
31. European Industrial Refrigeration Systems Market Research And Analysis By Capacity, 2024-2035 ($ Million)
32. European Industrial Refrigeration Systems Market Research And Analysis By Application, 2024-2035 ($ Million)
33. European Industrial Refrigeration Systems Market Research And Analysis By Refrigerant Type, 2024-2035 ($ Million)
34. Asia-Pacific Industrial Refrigeration Systems Market Research And Analysis By Country, 2024-2035 ($ Million)
35. Asia-Pacific Industrial Refrigeration Systems Market Research And Analysis By Component, 2024-2035 ($ Million)
36. Asia-Pacific Industrial Refrigeration Systems Market Research And Analysis By Capacity, 2024-2035 ($ Million)
37. Asia-Pacific Industrial Refrigeration Systems Market Research And Analysis By Application, 2024-2035 ($ Million)
38. Asia-Pacific Industrial Refrigeration Systems Market Research And Analysis By Refrigerant Type, 2024-2035 ($ Million)
39. Rest Of The World Industrial Refrigeration Systems Market Research And Analysis By Country, 2024-2035 ($ Million)
40. Rest Of The World Industrial Refrigeration Systems Market Research And Analysis By Component, 2024-2035 ($ Million)
41. Rest Of The World Industrial Refrigeration Systems Market Research And Analysis By Capacity, 2024-2035 ($ Million)
42. Rest Of The World Industrial Refrigeration Systems Market Research And Analysis By Application, 2024-2035 ($ Million)
43. Rest Of The World Industrial Refrigeration Systems Market Research And Analysis By Refrigerant Type, 2024-2035 ($ Million)
1. Global Industrial Refrigeration Systems Market Research And Analysis By Component, 2024 Vs 2035 (%)
2. Global Industrial Refrigeration Compressors Market Research And Analysis By Region, 2024 Vs 2035 (%)
3. Global Industrial Refrigeration Condensers Market Research And Analysis By Region, 2024 Vs 2035 (%)
4. Global Industrial Refrigeration Evaporators Market Research And Analysis By Region, 2024 Vs 2035 (%)
5. Global Industrial Refrigeration Controls Market Research And Analysis By Region, 2024 Vs 2035 (%)
6. Global Others Industrial Refrigeration Components Market Research And Analysis By Region, 2024 Vs 2035 (%)
7. Global Industrial Refrigeration Systems Market Research And Analysis By Capacity, 2024 Vs 2035 (%)
8. Global Less Than 100kw Industrial Refrigeration Systems Market Research And Analysis By Region, 2024 Vs 2035 (%)
9. Global 100-500kw Industrial Refrigeration Systems Market Research And Analysis By Region, 2024 Vs 2035 (%)
10. Global 500-1000kw Industrial Refrigeration Systems Market Research And Analysis By Region, 2024 Vs 2035 (%)
11. Global 1000-5000kw Industrial Refrigeration Systems Market Research And Analysis By Region, 2024 Vs 2035 (%)
12. Global More Than 5000kw Industrial Refrigeration Systems By Market Research And Analysis By Region, 2024 Vs 2035 (%)
13. Global Industrial Refrigeration Systems Market Research And Analysis By Application, 2024 Vs 2035 (%)
14. Global Industrial Refrigeration Systems For Warehouse Market Research And Analysis By Refrigerant Type, 2024 Vs 2035 (%)
15. Global Industrial Refrigeration Systems For Food & Beverage Market Research And Analysis By Refrigerant Type, 2024 Vs 2035 (%)
16. Global Industrial Refrigeration Systems For Chemical Petrochemical & Pharmaceuticals Market Research And Analysis By Refrigerant Type, 2024 Vs 2035 (%)
17. Global Industrial Refrigeration Systems For Transportation Market Research And Analysis By Refrigerant Type, 2024 Vs 2035 (%)
18. Global Industrial Refrigeration Systems Market Research And Analysis By Refrigerant Type, 2024 Vs 2035 (%)
19. Global Ammonia (NH3) Based Industrial Refrigeration Systems Research And Analysis By Region, 2024 Vs 2035 (%)
20. Global Carbon Dioxide (CO2) Based Industrial Refrigeration Systems Research And Analysis By Region, 2024 Vs 2035 (%)
21. Global Hydrofluorocarbons (HFCS) Based Industrial Refrigeration Systems Research And Analysis By Region, 2024 Vs 2035 (%)
22. Global Hydro Chlorofluorocarbons (HCFCS) Based Industrial Refrigeration Systems Research And Analysis By Region, 2024 Vs 2035 (%)
23. Global Industrial Refrigeration Systems Market Research And Analysis By Region, 2024 Vs 2035 (%)
24. Global Industrial Refrigeration Systems Market Share By Region, 2024 Vs 2035 (%)
25. US Industrial Refrigeration Systems Market Size, 2024-2035 ($ Million)
26. Canada Industrial Refrigeration Systems Market Size, 2024-2035 ($ Million)
27. UK Industrial Refrigeration Systems Market Size, 2024-2035 ($ Million)
28. France Industrial Refrigeration Systems Market Size, 2024-2035 ($ Million)
29. Germany Industrial Refrigeration Systems Market Size, 2024-2035 ($ Million)
30. Italy Industrial Refrigeration Systems Market Size, 2024-2035 ($ Million)
31. Spain Industrial Refrigeration Systems Market Size, 2024-2035 ($ Million)
32. Rest Of Europe Industrial Refrigeration Systems Market Size, 2024-2035 ($ Million)
33. India Industrial Refrigeration Systems Market Size, 2024-2035 ($ Million)
34. China Industrial Refrigeration Systems Market Size, 2024-2035 ($ Million)
35. Japan Industrial Refrigeration Systems Market Size, 2024-2035 ($ Million)
36. South Korea Industrial Refrigeration Systems Market Size, 2024-2035 ($ Million)
37. Rest Of Asia-Pacific Industrial Refrigeration Systems Market Size, 2024-2035 ($ Million)
38. Rest Of The World Industrial Refrigeration Systems Market Size, 2024-2035 ($ Million)
FAQS
The size of the Industrial Refrigeration Systems market in 2024 is estimated to be around $23.3 billion.
Asia-Pacific holds the largest share in the Industrial Refrigeration Systems market.
Leading players in the Industrial Refrigeration Systems market include Daikin Industries, Ltd., Emerson Electric Co., Ingersoll Rand Plc., Johnson Controls International Plc. and others.
Industrial Refrigeration Systems market is expected to grow at a CAGR of 4.2% from 2025 to 2035.
The Industrial Refrigeration Systems Market is growing due to rising demand for cold storage, stringent food safety regulations, and advancements in energy-efficient technologies.