The Industrial Refrigeration Systems Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the Industrial Refrigeration Systems Market?
The market for industrial refrigeration systems has seen substantial growth recently. Its size was $23.27 billion in 2024 and it is projected to reach $24.78 billion in 2025, with a compound annual growth rate (CAGR) of 6.5%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Industrial Refrigeration Systems Industry?
The Industrial Refrigeration Systems market is predicted to grow to $32.36 billion by the year 2029, with a compound annual growth rate (CAGR) of 6.9%.
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What are the Key Growth Drivers Fueling the Industrial Refrigeration Systems Market?
The key drivers in the industrial refrigeration systems market are:
• Rising demand for cold storage
• Adoption of natural refrigerants and renewable energy integration
• Strategic partnerships and alliances in the industry
• Regulatory emphasis on energy efficiency
Global Market Segmentation: Identifying Major Industrial Refrigeration Systems Industry Segments
The industrial refrigeration systems market covered in this report is segmented –
1) By Component: Compressors, Rotary Screw Compressors, Centrifugal Compressors, Reciprocating Compressors, Diaphragm Compressors, Evaporators, Condensers, Controls
2) By Refrigerant: Ammonia, Carbon Dioxide
3) By Application: Refrigerated Warehouse, Refrigerated Transportation, Beverage Processing, Dairy And Ice Cream Processing
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What are the Emerging Trends Shaping the Future of the Industrial Refrigeration Systems Market?
The key trends in the industrial refrigeration systems market are:
• The market is experiencing a trend towards the adoption of green refrigerants.
• Energy efficiency is becoming increasingly important in industrial refrigeration systems.
• The sector is seeing advancements through digitalization and IoT integration.
• There's a rising trend of customization and modularization in the industry.
Who Are the Top Competitors & Leading Players in the Industrial Refrigeration Systems Market?
Major companies in the industrial refrigeration systems market are:
• Johnson Controls International PLC
• GEA Group Aktiengesellschaft
• Daikin Industries Ltd.
• EVAPCO Inc.
• Bitzer Kuhlmaschinenbau GmbH
• LU-VE GROUP
• Güntner GmbH & Co. KG.
• Star Refrigeration Ltd.
• Emerson Electric Co.
• Lennox International Inc.
• Mayekawa Manufacturing Co. Ltd.
• Dover Corporation
• Ingersoll Rand plc
• Linde
• M&M Systems Inc.
• MAN Energy Solutions
• Mark Refrigeration Equipment Company
• MTI Micro
•Tech International Inc.
• Parker Hannifin Corporation
• Polycold Systems Inc.
• Enviro Tech International Inc.
• Refrigeration Engineering Corporation
• Rivacold S.r.l.
• SCM Frigo Group S.r.l.
• Sterling Cryogenics BV.
• Trane Technologies plc
• United Technologies Corporation
• Vilter Manufacturing Corporation
• Vogt Ice Machine Co.
• Weiss Umwelttechnik GmbH
Regional Dominance: Which Area Leads the Global Template Market?
North America was the largest region in the Industrial Refrigeration System in 2024
