Industrial Refrigeration Units Market size was valued at USD 36.02 Billion in 2024 and is forecasted to grow at a CAGR of 5% from 2026 to 2033, reaching USD 54.03 Billion by 2033.
The global Industrial Refrigeration Units Market was valued at approximately USD 28.6 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 6.5% from 2023 to 2030. The increasing demand for efficient and energy-saving refrigeration solutions across various industries, including food and beverage, pharmaceuticals, and chemicals, has significantly contributed to this growth. Additionally, the rise in global trade and the expansion of the cold chain industry are expected to drive the demand for industrial refrigeration units in the coming years. The market size is anticipated to reach around USD 52.1 billion by 2030, demonstrating robust growth potential driven by technological advancements and the adoption of sustainable practices. The global industrial refrigeration units market is largely influenced by the evolving regulations regarding refrigerant gases and environmental concerns, which are shaping the adoption of eco-friendly and energy-efficient systems.
Regionally, North America and Europe dominate the industrial refrigeration units market, accounting for a significant share of the market in 2022. North America, with its well-established infrastructure and growing demand for refrigeration in food processing and pharmaceutical sectors, holds a substantial market share. Europe follows closely with a focus on sustainability and stricter environmental regulations pushing the demand for advanced refrigeration technologies. The Asia Pacific region is expected to witness the highest growth rate during the forecast period due to rapid industrialization, expanding cold chain logistics, and increasing consumer demand for processed and perishable goods. In terms of market share, the Asia Pacific region is projected to grow at a CAGR of 8% from 2023 to 2030, making it a key opportunity area for manufacturers and stakeholders in the industrial refrigeration units market.
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Carrier Corporation
Trane
Daikin Industries
Johnson Controls International
Mitsubishi Electric Corporation
LG Electronics Inc.
Fujitsu General
Haier Group Corporation
Gree Electric Appliances Inc.
Panasonic Corporation
Midea Group Co. Ltd.
Samsung Electronics Co. Ltd.
Emerson Electric Co.
Danfoss A/S
Lennox International Inc.
Bitzer SE
Hitachi Ltd.
Toshiba Carrier Corporation
Honeywell International Inc.
Rheem Manufacturing Company
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Industrial Refrigeration Units Market
Reciprocating Refrigeration Units
Screw Refrigeration Units
Centrifugal Refrigeration Units
Scroll Refrigeration Units
Absorption Refrigeration Units
Hydrochlorofluorocarbons (HCFCs)
Hydrofluorocarbons (HFCs)
Ammonia (NH3)
Carbon Dioxide (CO2)
Natural Refrigerants
Food and Beverage Industry
Pharmaceutical Industry
Chemical Industry
HVAC Systems
Industrial Manufacturing
Cold Storage Facilities
Supermarkets and Hypermarkets
Food Processing Plants
Distribution Centers
Pharmaceutical Companies
Vapor Compression Technology
Vapor Absorption Technology
Thermal Energy Storage Technology
Magnetic Refrigeration Technology
Evaporative Cooling Technology
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Industrial Refrigeration Units Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Industrial Refrigeration Units Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Industrial Refrigeration Units Market, By Type
6. Global Industrial Refrigeration Units Market, By Application
7. Global Industrial Refrigeration Units Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Industrial Refrigeration Units Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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