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Refrigeration System Market Share

Report ID: GMI12518
Published Date: Dec 2024
Report Format: PDF

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Refrigeration System Market Share

In 2023, key companies like Carrier Corporation, Daikin Industries, Ltd., Lennox International Inc., Johnson Controls, Emerson Electric Co., and others held a combined market share of 10-15%. These companies are actively engaging in mergers, acquisitions, facility expansions, and collaborations to enhance their product portfolios, reach more customers, and strengthen their market positions.

Companies are making substantial investments in research and development to create advanced, sustainable refrigeration system that meet the evolving demands of the HVAC industry.

Refrigeration System Market Companies

Major players operating in the refrigeration system industry are:

BITZER Kühlmaschinenbau GmbH
Carrier Global Corporation
Daikin Industries Ltd.
Danfoss A/S
Dorin
Embraco (Nidec Corporation)
Emerson Electric Co.
Frick India Limited
GEA
Grundfos
Hitachi
Hussman Corporation
Ingersoll-Rand, Plc.
Johnson Controls
Lennox International
Tecumseh Products Company

Authors: Avinash Singh , Sunita Singh

Frequently Asked Questions (FAQ) :

The global market size for refrigeration system was valued at USD 41.5 billion in 2023 and is projected to reach USD 61.9 billion by 2032, driven by a CAGR of over 4.6% from 2024 to 2032.

Refrigeration system industry from conventional refrigeration systems held around 66% of the total market share in 2023 and are anticipated to reach a value of USD 40.4 billion by 2032.

North America market, led by the U.S., was valued at USD 8.5 billion in 2023 and is estimated to grow at a CAGR of over 4.6% from 2024 to 2032.

Major players in the industry include BITZER Kühlmaschinenbau GmbH, Carrier Global Corporation, Daikin Industries Ltd., Danfoss A/S, Dorin, Embraco (Nidec Corporation), Emerson Electric Co., Frick India Limited, GEA, and Grundfos.