Centralized Refrigeration Systems Market By Components (Compressors, Condensers, Evaporators, Controls, Others), By Refrigerant (F-Gas, Carbon dioxide, Ammonia, Others), By End-user Industry (Commercial, Industrial): Global Opportunity Analysis and Industry Forecast, 2023-2032
The centralized refrigeration systems market was valued for $29,817.70 million in 2022 and is estimated to reach $49,502.80 million by 2032, exhibiting a CAGR of 5.2% from 2023 to 2032. The centralized refrigeration systems market was 3,822,782 units in 2022 and is estimated to reach 4,989,771 units by 2032, exhibiting a CAGR of 2.7% from 2023 to 2032.Centralized refrigeration system is a cooling system that is installed in industrial and commercial venues to refrigerate a particular facility in food & beverages, pharmaceuticals, bakeries, and other industries. In this system, the refrigerant is circulated through a network of pipes and distributed to multiple evaporators, which cool the air in different areas or rooms. The refrigerant is then returned to the central location, where it is compressed and cooled before being circulated again. It helps minimize power consumption and allows easy management of equipment and service.
The need for centralized refrigeration systems and related equipment has increased in several developing countries, including India, China, Brazil, etc., because of the quick growth and modernization of cold storage facilities. Cold storage facilities proved to be conducive atmosphere for the storage of food and beverage, dairy, ice cream, meat, poultry, and fish, as well as the products from chemical and pharmaceutical industries. Moreover, centralized refrigeration systems provide controlled temperature condition for storing perishable products, which helps in retaining freshness and maintain the taste of processed food products in hotels, restaurants, retail, and other commercial venues. However, centralized refrigeration systems, which are widely utilized in a variety of industrial applications such as food processing, product preservation, and others, demand a tremendous amount of energy to regulate the temperature in a facility.
Additionally, these systems require ongoing monitoring to regulate the flow of refrigerant and come with greater maintenance costs. Consequently, it is anticipated that these issues will restrain the centralized refrigeration systems market expansion. Additionally, modernizing cold storage and refrigerated facilities necessitates continual refrigerant flow monitoring and leak detection. As a result, IoT-enabled refrigeration solutions have become increasingly popular for monitoring machinery in the processing and storage industries. The players in the centralized refrigeration systems market in developing nations may benefit from lucrative opportunities for development as a result during the estimated period.
The centralized refrigeration systems market is segmented into components, refrigerant, end-user industry, and region. By components, it is segregated into compressors, condenser, evaporators, controls, and others. Depending on the refrigerant, it is classified into ammonia, carbon dioxide, F-gases, and others. Based on end-user industry, the market is divided into commercial (hotel, restaurant, catering, and retail) and industrial (refrigerated warehouse, food processing, healthcare, and others). Region wise, it is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, Italy, UK, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
Competition analysis
The major players profiled in the centralized refrigeration systems market include Daikin Industries, Ltd., Emerson Electric Co., Evapco, Inc., GEA Group AG, Johnson Controls, Inc., Ingersoll Rand, LU-VE Group, Mayekawa Mfg. Co. Ltd., The Danfoss Group, and Carrier. Major companies in the market have adopted strategies such as business expansion, partnership, acquisition, product development, and product launch to offer better products and services to customers in the centralized refrigeration system market.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the centralized refrigeration systems market analysis from 2022 to 2032 to identify the prevailing centralized refrigeration systems market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the centralized refrigeration systems market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global centralized refrigeration systems market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy ComponentsCompressors
Controls
Condensers
Evaporators
Others
By RefrigerantF-Gas
Carbon dioxide
Ammonia
Others
By End-user IndustryCommercial
Commercial
Hotel, Restaurant, and Catering
Retail
Industrial
Industrial
Refrigerated Warehouse
Food Processing
Healthcare
Others
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
Frace
UK
Italy
Spain
Netherlands
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Danfoss
Johnson Controls
LU-VE S.p.A.
GEA Group
EVAPCO, Inc.
CARRIER GLOBAL CORPORATION
Daikin Industries Ltd.
Bitzer SE (Bitzer Kuhlmaschinenbau GmbH)
Emerson Electric Co.
Industrial Frigo S.R.L
Please Note: It will take 7-10 business days to complete the report upon order confirmation.