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Refrigeration System Market Trends

Report ID: GMI12518 Published Date: December 2024Report Format: PDF
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Refrigeration System Market Trends

The refrigeration industry is transitioning to low global warming potential (GWP) refrigerants due to strict environmental regulations and sustainability objectives. Hydrofluorocarbons (HFCs) once commonly used is replaced with alternatives such as carbon dioxide (CO?) and ammonia, which have lower environmental impact. The International Institute of Refrigeration reports a significant increase in CO? transcritical system adoption for commercial refrigeration, demonstrating the industry's efforts to reduce greenhouse gas emissions.

Moreover, the global expansion of cold chain infrastructure is a key trend in the refrigeration system market, driven by increasing demand for perishable goods and pharmaceuticals. Efficient cold chain systems are crucial for maintaining product quality and safety during transportation and storage. The International Institute of Refrigeration reports that approximately 70% of food products require refrigeration for operating their overall business.

Developing countries are investing in cold chain infrastructure to reduce food loss and support public health initiatives. The expansion of refrigerated transport and storage facilities is essential for vaccine distribution, as demonstrated during global health campaigns. Additionally, the growth of e-commerce and online grocery shopping accelerates the need for robust cold chain planning, ensuring timely and safe delivery of perishable items. This trend highlights the importance of refrigeration technology in supporting global food security and healthcare systems.

Author: Avinash Singh , Sunita Singh
Frequently Asked Question(FAQ) :

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.

Refrigeration System Market Scope

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