Industrial Refrigeration Market Size

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. In the year 2025, the industry size of immunoglobulin replacement therapy is evaluated at USD 24.13 billion. The rising demand for processed and packaged food items is surging the use of industrial refrigeration to prevent food from spoiling. The revenue generated from the global sales of packaged food amounted to more than USD 2 trillion in 2019.

Industrial refrigeration is the process of cooling using large-scale cooling systems to remove the extra heat from the materials and lowers the temperature to achieve a desired temperature value. The surge in natural refrigerants owing to the rising need for environmental protection along with the recent shift towards energy-efficient facility designs are predicted to create positive opportunities for revenue generation.