Industrial Refrigeration Market Analysis

Component (Compressors, Condensers, Evaporators, Controls, Others)

The industrial refrigeration market from compressors segment is poised to grow at a significant rate and hold the largest value of 32% in 2037. Compressors have an important role to play in increasing refrigerant vapor pressure in a condenser that ensures suitable temperature and pressure. The rising focus on manufacturing innovative compressor solutions to meet the efficiency of the industrial refrigeration system is expected to create a positive outlook for segment expansion.

Application (Refrigerated Warehouse, Food & Beverage, Chemical & Petrochemical, Pharmaceutical, Refrigerated Transportation)

The food & beverage segment is estimated to grow the highest and hold the largest market share of 34% by the end of the forecast timeline. The increasing working population around the world has increased the demand for ready-to-eat food items and beverages which requires proper industrial refrigerant systems for protection.

Our in-depth analysis of the market includes the following segments:

Component	Compressors Condensers Evaporators Controls Others
Capacity	Less than 100Kw 100-500Kw 500-1000Kw 1000-500Kw More than 5000Kw
Refrigerant Type	Ammonia Carbon Dioxide Hydrofluorocarbon Others
Type	Stationary Transport
Application	Refrigerated Warehouse Food & Beverage Chemical & Petrochemical Pharmaceutical Refrigerated Transportation

Frequently Asked Questions (FAQ)

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The industrial refrigeration market size was valued at USD 23.18 billion in 2024 and is set to exceed USD 44.25 billion by 2037, registering over 5.1% CAGR during the forecast period i.e., between 2025-2037. The increasing food wastage across the globe along with the escalation in the demand for effective storage solutions will drive the market growth.

North America industry is expected to hold largest revenue share of 35% by 2037, backed by rising government initiatives such as the Significant New Alternatives Policy and American Innovation and Manufacturing Act encourage food manufacturers to use natural industrial refrigerant solutions to avoid food wastage.

The major players in the market are Johnson ControlsEmerson Electric Co.GEA Group AktiengesellschaftDanfoss A/SMayekawa Group of CompaniesDaikin Industries, Ltd.BITZER Kühlmaschinenbau GmbHEVAPCO Inc.Guntner GmbH & Co. KGLU-VE S.p.A

Industrial Refrigeration Market Analysis