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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
Who are the major players in the refrigeration system industry?
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.
How much is the North America refrigeration system market worth?
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.
What is the market share of conventional refrigeration systems in 2023?
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.
How big is the global refrigeration system market?
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.