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Europe Industrial Refrigeration Market Size

Report ID: GMI7667
Published Date: Dec 2023
Report Format: PDF

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Europe Industrial Refrigeration Market Size

Europe Industrial Refrigeration Market was valued at USD 9.1 Billion in 2023 and is anticipated to register a CAGR of over 3.3% between 2024 and 2032. As consumer demand for diverse and high-quality food products continues to rise, food and beverage manufacturers are expanding their production capacities. This growth necessitates advanced and efficient refrigeration solutions to meet the industry's evolving needs. Industrial refrigeration systems play a critical role in maintaining optimal temperatures and preserving the freshness of raw materials, ingredients & finished products.

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The cost-effectiveness of below 500 KW systems makes them a preferable choice for businesses with more modest cooling needs. Investment costs play a crucial role in decision-making for businesses of all sizes. Below 500 KW systems generally involve lower upfront costs compared to their larger counterparts.

Europe Industrial Refrigeration Market Report Attributes
Report Attribute	Details
Base Year:	2023
Europe Industrial Refrigeration Market Size in 2023:	USD 9.1 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	3.3%
2032 Value Projection:	USD 12.6 Billion
Historical Data for:	2018 – 2023
No. of Pages:	250
Tables, Charts & Figures:	141
Segments covered:	Refrigeration Type, End-Use
Growth Drivers:	Food & beverage industry growth Cold chain logistics expansion
Pitfalls & Challenges:	Regulatory compliance and refrigerant transition

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The 0.5-1 MW will have highest growth in forecast timeframe owing to increasing numbers of medium-sized enterprises in the region. Industrial refrigeration systems are major energy consumers, accounting for up to 40% of the total energy usage in some industries.

Authors: Avinash Singh

Frequently Asked Questions (FAQ) :

Europe industrial refrigeration market size was USD 9.1 billion in 2023 and is expected to register over 3.3% CAGR from 2024-2032 due to the rising consumer demand for diverse and high-quality food products worldwide.

The food and beverage end-user segment in the Europe industrial refrigeration market recorded USD 3.7 billion in 2023 due to the highly perishable nature of food items requiring precise temperature control throughout the entire supply chain.

Germany held over 22% share of the industrial refrigeration industry in 2023 and is expected to register a significant CAGR from 2024-2032 owing to the presence of robust industrial base, particularly in the manufacturing sectors, including chemicals and pharmaceuticals in the country.

Johnson Controls International, Emerson Electric Co, Danfoss A/S, and Carrier Global Corporation, among others are some of the influential Europe industrial refrigeration players.