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Call to Preserve Foodstuff to drive the Industrial Refrigeration Equipment Market

With governments across the globe pressing for strengthening cold chain infrastructure, especially in the developing economies, the industrial refrigeration equipment market is all set to grow on an irresistible note in the forecast period. This is also in wake of a realization to avoid food wastage herein, as the ugly fact that not the entire population in these countries is privileged enough to have full-course meals even once a day can’t be sidelined.

Though the installation costs are bound to prove costly, the long-term advantage is something to go for. At the same time, careful handling of this equipment is needed as exposure to ammonia’s higher concentration could prove to be fatal if inhaled. Persistence Market Research has mentioned these findings along with prospects in its latest market study entitled “Industrial Refrigeration Equipment Market”.

How is the Industrial Refrigeration Equipment Market classified?

The global industrial refrigeration equipment market, by equipment, spans condenser, compressor, evaporator, and controls. By application, it’s food processing, beverage production, chemicals & pharmaceuticals, petrochemicals, energy, and logistics. Out of these, compressor holds the largest market share, followed by food processing by the application. Persistence Market Research has etched these facts with probable calls to action in its latest market study called “Industrial Refrigeration Equipment Market”.

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Region-wise Analysis

North America holds more than 30% of the market share and the status quo is expected to remain unchanged even in the forecast period. This could be attributed to fast-moving online grocery business operations. This has, in turn, compelled the key players to have large-scale refrigerated storage systems for preserving perishable food items. Europe is second-seeded in this regard.

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However, the Asia-Pacific is expected to grow at the fastest rate in the industrial refrigeration equipment market due to the upcoming demand for cold storage infrastructure in Japan, India, and China. Also, the fact that India comes across as the second-largest manufacturer of vegetables and fruits can’t be ignored. Persistence Market Research has given a detailed analysis of these facts along with insights in its latest market study entitled “Industrial Refrigeration Equipment Market”.

Competitive Equipment

Persistence Market Research has enlisted the key participants in the industrial refrigeration equipment market as Johnson Controls Inc., Emerson Electric Co., United Technologies Corporation, Parker Hannifin Corp., Danfoss A/S, Ingersoll-Rand plc, Lennox International Inc., Dover Corporation, GEA Group AG, Daikin Industries, Ltd., and likewise.

Persistence Market Research has also mentioned the key developments in this regard. For instance – John Controls, Inc., in June 2021, did add Quantech QWC4 water-cooled screw chiller to its products available. It makes use of variable speed drive technology for reducing carbon emissions and rendering flexibility in getting through high-lift applications. GEA Group Aktiengesellschaft, in June 2021, did ink an agreement for selling its refrigeration contracting operations to Clauger in Italy and Spain. The latter does specialize in industrial air-conditioning and refrigeration systems.

Furthermore, the oil & gas team of GEA Refrigeration Technologies, in February 2021, did get selected by none other than Honeywell UOP for supplying engineered compression packages for Azerbaijan-based tail gas application. Mayekawa, in October 2020, entered into a partnership with Refrigeration Technology Solutions, LLC for expanding its portfolio regarding sales of the former’s reciprocating compressor and screw for the east coast.

Emerson Electric Co., in January 2020, did introduce Copeland scroll digital outdoor refrigeration unit termed as “X-Line Series”. It paves the way for reliable refrigeration for walk-in, medium-temperature coolers, and also display cases found in restaurants, small-format stores, and c-stores. Danfoss, in July 2020, did launch EKE 2U backup power module for catering to heat pumps, chillers, CRAC, cold rooms, and food retail.

The Road Ahead

The global industrial refrigeration equipment market is bound to grow notably in the next 10 years – Persistence Market Research

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