The global industrial refrigeration systems market size was US$ 2,051.1 million in 2021. The global industrial refrigeration systems market is forecast to grow to US$ 3,811.2 million by 2030 by registering a compound annual growth rate (CAGR) of 7.9% during the forecast period 2022-2030.

COVID-19 Impact Analysis
The COVID-19 disease outbreak has positively influenced the industrial refrigeration systems market. It is due to the significant rise in the requirement for huge quantities of vaccines, which required refrigeration systems. The United States Centers for Disease Control and Prevention (CDC) have published detailed recommendations for vaccine storage, advising the use of pharmaceutical-grade or custom-made freezers or refrigerators. As a result, it positively affected the industrial refrigeration systems market.

Regional Analysis
North America is forecast to hold dominance in the industrial refrigeration systems market due to the rising expansion of online grocery business operations. Apart from that, refrigerated storage systems are widely used in the region to keep perishable food materials fresh and save their nutritional value. Moreover, the growing number of clinical trials and research to slow the spread of the COVID-19 effect in the region is forecast to bring ample growth opportunities for the industrial refrigeration systems market during the study period. 
The Asia-Pacific industrial refrigeration systems market will also record potential growth due to the rising demand for cold storage infrastructure in countries like China, India, and Japan. Apart from that, growing initiatives by government bodies to support the expansion of cold storage infrastructure are expected to drive the growth of the industrial refrigeration systems market during the forecast period.

Factors Influencing the Market
The requirement for huge quantities of vaccine preservation in order to stop the virus's spread will lead to an increase in the deployment of refrigerated transportation systems. Apart from that, the rising pharmaceutical sector and the growing number of clinical trials are expected to bring untapped growth opportunities for the market.
The market may also witness lucrative growth opportunities due to the growing share of global online grocery sales. Moreover, cold chains are expected to play a crucial role in the post-harvest industry by aiding in the reduction of harvest spoilage and catering to the demands of the population. Thus, the use of technologies such as absorption refrigerators and passive/evaporator coolers are expected to escalate in the coming years.
Excessive heat and high temperatures will also upsurge the demand for industrial refrigeration systems. On the flip side, the high cost of refrigeration and negative environmental effects may limit the growth of the industrial refrigeration systems market during the study period.

Competitors in the Market
• Johnson Controls
• Emerson Electric Co.
• Danfoss
• Mayekawa Mfg. Co., Ltd
• Bitzer Kühlmaschinenbau GmbH
• Evapco, Inc
• Güntner GmbH & Co. KG
• LU-VE S.p.A
• Ingersoll Rand plc
• United Technologies Corporation
• GEA Group
• Daikin Industries Ltd
• Dover Corporation
• Baltimore Aircoil
• Lennox International
• Other Prominent Players

Market Segmentation
The global industrial refrigeration systems market segmentation focuses on Component, Capacity, Application, Refrigerant, and Region. 
By Component Outlook 
• Compressors
· Rotary Screw Compressors
· Centrifugal Compressors
· Reciprocating Compressors
• Other Compressors
· Condensers
· Evaporators
· Controls
· Others
By Capacity Outlook 
• Less than 100 kW
• 100-500 kW
• 500kW-1,000 kW
• 1,000kW-5,000 kW
• More than 5,000 kW
By Application Outlook 
• Refrigerated Warehouse
• Food & Beverage
• Chemical, Petrochemical, & Pharmaceutical
• Refrigerated Transportation
By Refrigerant Outlook 
• Ammonia
• CO2
• HFC
By Region
● North America
o The U.S.
o Canada
o Mexico
● Europe
▪ Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
▪ Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
● Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
● Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Brazil
o Argentina
o Rest of South America