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Centralized Refrigeration Systems Market Size, Share, Competitive Landscape and Trend Analysis Report by Components, by Refrigerant, by End-user Industry : Global Opportunity Analysis and Industry Forecast, 2024-2032

Centralized Refrigeration Systems Market Size, Share, Competitive Landscape and Trend...

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Centralized Refrigeration Systems Market Size, Share, Competitive Landscape and Trend Analysis Report by Components, by Refrigerant, by End-user Industry : Global Opportunity Analysis and Industry Forecast, 2024-2032
Centralized Refrigeration Systems Market Size,...
Report Code
RO4/128/1037

Publish Date
01/Apr/2024

Pages
200
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The global centralized refrigeration systems market revenue was around US$ 31.3 billion in 2023 and is estimated to reach US$ 49.5 billion by 2032, growing at a compound annual growth rate (CAGR) of 5.2% during the forecast period from 2024 to 2032.

A centralized refrigeration system mostly has components like a condenser, compressor, and evaporator, along with its control systems and other various components. These components cool the space or other procedures by spreading the refrigerant via a network of pipes to different evaporators placed in the location to be cooled. The refrigerant is then moved back to the compressor, cooled, and then circulated once more.

Factors Influencing Market Growth

- The rise in industrialization has positively influenced the growth of the centralized refrigeration systems market.

- These systems need constant monitoring to control the flow of refrigerant and come with huge maintenance costs. Thus, it is expected that these factors will hinder the growth of the market.

- The refrigeration systems are utilized for keeping a conducive environment for machines and workers, where machines naturally deliver high amounts of heat. Therefore, growth in industries is expected to have a positive influence on the growth of the market.

- The usage of IoT-enabled refrigeration solutions has acquired prominence for monitoring equipment in storage and processing industries. This can offer lucrative growth opportunities to the players in the market in appearing countries during the forecast period.

Impact of COVID-19

The demand for centralized refrigeration systems dropped during the COVID-19 pandemic. Also, the low requirements from different industries due to lockdowns charged by the governments of many countries. The pandemic led to the shutdown of the different end users of centralized refrigeration systems including hotels, restaurants, retail stores, and others, leading to a suspension in demand for centralized refrigeration systems. Also, the rise in the pharmaceuticals sector and food and beverages sector prevented the market from taking an abrupt negative dip.

Regional Analysis

In 2023, Asia-Pacific dominated the global centralized refrigeration systems market and is anticipated to maintain its dominance during the forecast period. This is due to the ongoing growth in online grocery shopping across the Asia Pacific region, with constantly developing application areas of natural refrigerant-based refrigeration systems to propel the growth of this region.

Leading Companies

The leading prominent companies profiled in the global centralized refrigeration systems market are: -

- Johnson Controls
- Carrier Global Corporation
- Emerson Electric Co.
- GEA Group
- Bitzer K?hlmaschinenbau GmbH
- LU-VE S.p.A.
- Danfoss
- EVAPCO Inc.
- Daikin
- Industrial Frigo Srl
- Other prominent key players

Segmentation Ouftline

The global centralized refrigeration systems market segmentation focuses on Components, Refrigerant, End-user Industry, and Region.

Segmentation based on Components

- Compressors
- Controls
- Condensers
- Evaporators
- Others

Segmentation based on Refrigerant

- F-Gas
- Carbon dioxide
- Ammonia
- Others

Segmentation based on End-user Industry

- Commercial
- Hotel, Restaurant, and Catering
- Retail
- Industrial
- Refrigerated Warehouse
- Food Processing
- Healthcare
- Others

Segmentation based on Region

- North America
- The U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Singapore
- Rest Of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa

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