Freezing Device Market was valued at USD 5.3 Billion in 2022 and is projected to reach USD 8.2 Billion by 2030, growing at a CAGR of 5.6% from 2024 to 2030.
The Freezing Device Market has seen dynamic shifts from 2018 to 2022, driven by advancements in technology, increasing demand across various sectors, and evolving consumer preferences. Throughout this period, industries ranging from food preservation to pharmaceuticals experienced a surge in demand for efficient and reliable freezing solutions. The market witnessed significant technological innovations, particularly in cryogenic freezing, which revolutionized the way perishable goods are stored and transported. The adoption of environmentally friendly refrigerants and energy-efficient freezing systems also contributed to the growth of the market, as companies sought to reduce their carbon footprint and operational costs. Notably, the demand for commercial freezing devices soared, driven by the expanding global food service industry and the rise of online grocery delivery services.
During the 2018 to 2022 period, the Freezing Device Market also saw increased competition, with established players competing to provide cutting-edge solutions for various industries. The demand for industrial freezing devices rose as manufacturing sectors, such as meat processing and pharmaceuticals, required more advanced freezing technologies for quality control and preservation. Additionally, significant growth was observed in the use of freezing devices in healthcare, especially for the preservation of biological samples and vaccines. Countries with expanding healthcare infrastructure, particularly in developing regions, contributed to the surge in market demand. By 2022, the market had evolved to meet the growing challenges posed by climate change, necessitating more robust and energy-efficient freezing solutions.
The forecast for the Freezing Device Market from 2023 to 2033 shows a continued upward trend, with growing demand driven by the rise of automation and the need for more sustainable freezing methods. The food and beverage sector is expected to maintain its position as the largest consumer of freezing devices, as both consumer preferences for fresh frozen foods and the rise in food exportation continue to fuel demand. Moreover, the healthcare sector’s requirement for cryogenic freezing devices is set to increase significantly, spurred by ongoing advancements in biotechnology and the need to preserve sensitive materials such as stem cells and vaccines. Additionally, as consumers and companies alike become more eco-conscious, the demand for energy-efficient and environmentally sustainable freezing devices is anticipated to rise.
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GE
Twin Guard
PHC Corporation Singapore Pte. Ltd.
Carrier
Johnson Controls
Dongin Thermo
Gram BioLine
Tekop Refrigeration
MOON-TECH
Tecumseh Products Company LLC
DAWOXI
Rigid Chill
Green Temp Tech Machinery Co.
Ltd
Lixi Refrigeration Equipment Co.
Ltd
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. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. 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 Freezing Device Market
Industrial
Food
Medical
Based on Types the Market is categorized into Below types that held the largest Freezing Device market share In 2023.
Direct Cooling
Indirect Cooling
Global (United States, Global 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 Freezing Device 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 Freezing Device Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Freezing Device Market, By Type
6. Global Freezing Device Market, By Application
7. Global Freezing Device Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Freezing Device Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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