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Browse in-depth TOC on "Refrigeration Coolers Market"
237 – Tables
63 – Figures
299 – Pages
Refrigeration Coolers Market Report Scope:
Report Coverage |
Details |
Market Revenue in 2024 |
$ 4.19 billion |
Estimated Value by 2029 |
$ 5.74 billion |
Growth Rate |
Poised to grow at a CAGR of 6.5% |
Market Size Available for |
2020–2029 |
Forecast Period |
2024–2029 |
Forecast Units |
Value (USD Million/Billion) |
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered |
By Offering, Mobility, Refrigerant Type and Region |
Geographies Covered |
North America, Europe, Asia Pacific, and Rest of World |
Key Market Challenge |
Setup issues associated with refrigeration coolers systems |
Key Market Opportunities |
Growing demand in emerging applications such as healthcare and logistics |
Key Market Drivers |
Growing need for transitioning to refrigerants with lower GWPs |
These solutions also ensure compliance with stringent quality and regulatory standards in applications such as commercial and industrial, enhancing product safety and regulatory adherence. Cost efficiency is achieved through better resource utilization and predictive maintenance strategies, contributing to overall cost savings.
The food & beverage segment to contribute significant share during the forecast period.
Food & Beverage applications include fruit and vegetable processing, beverage processing, dairy and ice-cream processing, meat, poultry, and fish processing, and special applications. The growth for refrigeration coolers is significant in the food & beverage segment, as consumers have increasingly become demanding for fresh and perishable foods. The requirements of refrigeration coolers are growing among food processors for long shelf life and food safety. These systems are used in fruit and vegetable processing facilities, beverage processing plants, and dairy and ice cream processing plants, among others. Another area of investment is the introduction of energy-efficient, green-friendly refrigeration technologies as well as rising demand for frozen and processed foods worldwide This way, a brisk expansion for the refrigeration coolers market in the food and beverage segments is expected due to issues concerning sustainability and quality.
The CO2 segment projected to grow significantly during the forecast period.
CO2 is a naturally occurring, non-toxic, non-flammable refrigerant with an ODP rating of zero and a GWP rating of one. This refrigerant boasts excellent thermodynamic properties and tremendous energy efficiency. These properties classify it for industrial heat extraction, chilled warehousing, marine refrigeration, and a number of other ice-making and commercial applications. Furthermore, substantial CO2-based refrigeration systems are more cost-effective to build than their glycol counterparts; thus, the initial and life cycle costs of CO2-based refrigeration systems are pretty low. All these advantages, along with increasing awareness regarding the thermodynamic properties of CO2 refrigerants, are set to propel the market for CO2-based refrigeration coolers. Furthermore, increasing the adoption of CO2 cascade refrigeration systems in various end-user industries would further propel market growth.
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North America is expected to grow significantly throughout the forecast period.
Different factors, such as the increased focus on food safety and the stringent regulatory requirements, are driving the refrigeration cooler industry in North America. With the vital food and beverage industry in this region through restaurants, supermarkets, and food processing centers, this side of the industry ensures that the quality of the products and their compliance with health standards can be maintained with appropriate support from refrigeration. The growth in online grocery shopping, along with pressure from environmental concerns, also intensifies the need for efficient cold storage and transportation solutions. Growth in refrigeration technology and the transition to more environmentally friendly refrigerants is leading to market growth. Businesses are cutting their carbon footprint and operational costs. With an already well-established infrastructure, not to mention frequent investment in innovative refrigeration systems, North America is expected to play a significant role in the refrigeration coolers market.
Key Players
The refrigeration coolers companies includes significant Tier I and II players such Johnsons Controls (Ireland), Lennox International (US), Lu-Ve Group(Italy), Rivacold (Italy),Kelvion Holding GmBH (Germany), Modine Manufacturing (US) and Copeland (US), among others.
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