Businesses across different industries are striving not only to reopen but also to grow. Business leaders are leveraging the rescue packages from the government to restructure themselves with digital conversions and agile organizational structures. They are taking swift actions to get ready for greater resilience and better productivity in a future where the usual business does not exist. The industry leaders are investing in future technologies to automate facilities and physical processes to comply with social distancing norms.
The industrial sector is transforming towards centralized and automated non-core tasks. The businesses are evaluating and re-aligning service capabilities and network models to adapt with the new normal. To overcome the impact of disrupted supply chain models, the businesses are creating transparent system with help of big data, connected ecosystem and intelligent system. Besides all the organizational level changes, the market players in industrial sector are increasing work safety precautions to fall in line with the social-distancing norms issued by the government.
Industrial Refrigeration Systems Market: Overview
The modern industrial processes in the various end-use sectors such as food and chemicals, are controlled by accurate process conditions and temperature is an important parameter in any process. The industrial refrigeration systems has a major role in maintain the stability of the overall industrial process and directly affects the quality of end product. The industrial refrigeration systems consists of three main components which includes compressors, condensing units and evaporators.
The automated systems consists of condenser control, compressor control, oil control, liquid level control and safety systems. Food processing industries has a major share in global industrial refrigeration market in terms of consumption. In food processing industry, it is used for processing of fruits, vegetables, poultry, fish, meat and dairy products. The temperature in industrial refrigeration systems are mentioned in terms of wet bulb and hot bulb temperatures. The dry bulb temperature does not consider the humidity and other properties of air, while wet bulb temperature considers these parameters.
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Industrial Refrigeration Systems Market: Drivers and Restraints
The wide applications of industrial refrigeration systems such as food processing, beverage production, chemical production etc. is the major driver for the growth of global industrial refrigeration systems market. The industrial refrigeration systems has a major role in maintaining the quality of the end product. The growing packed food industry in emerging clusters such as developing countries in APAC and Latin America is expected to drive the growth of industrial refrigeration systems market. The rising investments in improving the infrastructure related to cold chain is anticipated to boost the global industrial refrigeration systems market growth. The environmental regulations regarding maintenance, safe refrigerant use is expected to increasing demand for sustainable refrigeration systems.
Industrial Refrigeration Systems Market: Segmentation
On the basis of components, the global industrial refrigeration systems market can be segmented as follows:-
- Condensing Units
On the basis of refrigerant type, the global industrial refrigeration systems market can be segmented as follows:-
- Carbon Dioxide
- R-22 (HCFC-22 or Hydrochlorofluorocarbon-22)
On the basis of application, the global industrial refrigeration systems market can be segmented as follows:-
- Refrigerated Warehouses
- Fruit and Vegetable Processors
- Poultry, Fish and Meat Processors
- Wineries and Breweries
- Dairy Products Processors
- Explosion and Corrosion Protection
On the basis of end-use industry, the global industrial refrigeration systems market can be segmented as follows:-
- Food Processing
- Transport Logistics
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Industrial Refrigeration Systems Market: Region Wise Outlook
The global industrial refrigeration systems market can be divided into seven regions, namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and Middle East and Africa (MEA). North America accounts for significant share in global industrial refrigeration market. The demand of refrigeration systems in refrigerated warehouses is expected to grow during the forecast period in this region. North America is followed by Europe in terms in consumption in industrial refrigeration market. The rise in commercialisation of transport refrigeration and the mature market of frozen food and meat products in the region is expected to contribute significant share in growth of industrial refrigeration market in the region. APAC is anticipated to register high CAGR during the forecast period, owing to rising industrialisation and urbanisation in the region.
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Industrial Refrigeration Systems Market: Key Players
Some of the key players in the global industrial refrigeration systems market are as follows:
- Carnot Refrigeration
- Star Refrigeration
- Johnson Controls
- Ingersoll-Rand plc
- MAYEKAWA MFG. CO., LTD.
- Danfoss A/S
- DAIKIN INDUSTRIES, Ltd.
- Emerson Electric Co.
- BITZER Kuhlmaschinenbau GmbH
- Innovative Refrigeration Systems, Inc.