Refrigeration Coolers Market

Refrigeration Coolers Market by Component (Evaporators and Air Coolers, Condensers), Refrigerant (HFC/HFO, NH3, CO2, Glycol, Others), Applications (Commercial, Industrial) and Geography (2022-2027)

Report Code: SE 8040 Feb, 2022, by marketsandmarkets.com

[263 Pages Report] The global Refrigeration coolers market is expected to grow from USD 3.6 billion in 2022 to USD 4.8 billion by 2027, at a CAGR of 6.0%.

Growing investments in refrigerated warehouses/cold storage, rising demand for frozen and processed foods worldwide, rising demand for innovative and compact refrigeration coolers, and growing adoption of natural refrigerant-based systems in various commercial and industrial applications will drive the demand for this market in the near future.

Refrigeration Coolers Market

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COVID-19 Impact on the Global Refrigeration Coolers Market

COVID-19 had a significant impact on the refrigeration industry due to the severe impact on the manufacturing sector in different regions due to the pandemic lockdown. Indoor climate control, process cooling, and food cold chain technology areas had to face a severe downturn due to abruptions in manufacturing, production, and demand and supply in refrigeration components due to the sudden lockdown in 2020.

Process cooling areas cover different cooling processes, essential in many industrial and commercial sectors. These cooling processes require different refrigeration process equipment, for instance, refrigeration coolers being used to cool, refrigerate, extract heat, or maintain temperature during manufacturing or production or storage in different industries. But the sudden lockdown halted various manufacturing and production processes in the refrigeration coolers market. Various component manufacturing players had to deal with issues leading to the production of state-of-the-art process cooling technologies. This includes, for instance, chillers (e.g., industry, process, and water-cooled), evaporative cooling equipment (e.g., cooling towers, evaporative condensers), as well as dry and fluid coolers. All these components had to face a reduction in sales due to challenged demand and supply conditions.

The cold food chain mainly includes cooling technologies used to process, preserve, transport, and display foodstuff. Food processing industries, food warehouses (chilled and frozen), refrigerated vehicles, and supermarkets are thus elements of the same chain. Due to the lockdown, demand for cold food requirements was drastically reduced, resulting in the demand for refrigerated coolers along with other components to also be reduced.

However, with ease in lockdown in countries such as China, India, the US, and Germany, and vaccines being rolled out by numerous countries since December 2020, the manufacturing sector is expected to pick up the pace gradually in the coming months, and the refrigeration coolers market is expected to recover by mid 2022.

Refrigeration coolers Market Dynamics

Driver: Rising investments in refrigerated warehouses/cold storage facilities

Increasing demand for online grocery shopping and frozen food in the purview of the COVID-19 pandemic has encouraged e-commerce companies to invest in refrigerated warehouses and cold storage. The US has started deploying cold storage facilities in port-centric and coastal markets as well as in proximity to highly populated metro areas. Factors such as the limited availability of land in metropolitan areas are encouraging cold storage companies to set up their facilities in proximity to these areas. Lineage Logistics acquired several cold storage companies of North America, such as Southern Cold Storage, Allied Cold Storage, and Western Distribution Services, in 2020. On the other hand, Americold invested USD 2 billion (approximately) in cold storage acquisitions in 2020. The company’s strategy also involves an investment of USD 400-500 million in the new construction of refrigerated warehouses.

Restraint: High installation costs and other expenses

The installation cost of industrial refrigeration systems is high as the cost of components such as compressors, condensers, and evaporators is high. Control systems used in these refrigeration systems are expensive, and this increases the total cost of installation. Refrigerants such as ammonia and certain hydrocarbons are flammable and corrosive. Similarly, exposure to high concentrations of ammonia is toxic and life-threatening if inhaled. Therefore, safety equipment are required when working with ammonia-based refrigeration systems. Ammonia-based refrigeration systems should be made up of high-cost materials such as steel and aluminum as ammonia reacts with and corrodes copper, which increases the overall initial cost of the system. Safety equipment should be installed to avoid leakage while working on CO2-based refrigeration systems as this leakage may cause serious health hazards and suffocation. Other expenses such as regular maintenance, staff training, and the high cost of energy also increase the overall operational costs, thereby restraining the market growth.

Opportunity: Increasing demand for FMCG products

The rising demand for fast-moving consumer goods (FMCG) has propelled the demand for smart refrigeration, cold storage chain logistics, and transportation. Increasing online shopping and e-grocery has increased the demand for refrigeration units for the storage and cooling of these products. Since some foods are highly perishable, refrigerated logistics has narrow time windows to deliver these products. Transporting food from a warehouse or retail outlet to a consumer location also has become expensive and complicated. For example, there has been a spike in demand for meal kits delivery and e-grocery items in the US. This sudden increase in perishable food products and groceries has increased the demand for cold-storage spaces. The COVID-19 has also impacted the lifestyle and eating habits of consumers. Consumers have opted for cooking in their homes than ordering food during the pandemic. These factors have increased the demand for refrigeration coolers.

Challenge: Lack of skilled personnel along with high safety concerns

As natural refrigerant-based systems have gained traction, the demand for ammonia and carbon dioxide as refrigerants has gone up significantly. This increase in demand is due to the fact that these refrigerants have zero ODP and low GWP. For example, ammonia is a standard refrigerant used in industrial refrigeration facilities worldwide, and it is environmentally friendly and complies with the low-GWP standard. However, ammonia is also regarded as a poisonous gas, and its accidental leakage in facilities can lead to severe industrial accidents. Exposure to lower concentrations of ammonia can lead to temporary blindness, eye damage, skin diseases, or other pulmonary diseases, while exposure to higher concentrations can be fatal. The inner system leakage of such gases can even contaminate food items kept inside the refrigeration system. Hence, the lack of skilled personnel, along with growing safety concerns, is acting as a major challenge for the growth of the refrigeration cooler market.

Evaporator and air cooler component type is expected to witness the highest market share during the forecast period

Evaporator and air cooler component types are expected to contribute a major share in the refrigeration coolers market during the forecast period. Refrigeration is driving massive growth in commercial and industrial applications with advanced refrigeration systems. These components are widely used in several applications, resulting in the availability of different shapes and sizes as per specific requirements. For instance, a line of large capacity coolers is available for industrial and commercial cold storage, especially where food safety, efficiency, and reliability are paramount. Furthermore, these coolers provide versatility for commercial cold storage applications and major retail environments such as restaurants, supermarkets, convenience stores, beverage storage, and more.

Commercial application is expected to have the largest market share during the forecast period

Commercial application is expected to contribute a major share in the refrigeration coolers market during the forecast period. The commercial applications cover a wide range of premises from small cafes to supermarkets and refrigeration requirements from frozen to chilled produce in different areas, including hypermarkets, mini stores, convenience stores, grocery stores, hospitality centers, and small retail stores. For larger supermarkets, energy use is typically considered as a whole, including the building HVAC, water use, lighting, and commercial refrigeration, with heat recovery being a key contributor to minimizing energy consumption, particularly where space heating is a seasonal requirement. Hence, here the usage of refrigeration cooling equipment plays a key role. For smaller stores, heat rejection from display cases can contribute to additional air-conditioning load or provide useful heat in cooler climatic conditions. All these factors are expected to drive the market for refrigeration coolers in commercial applications.

Asia Pacific is the leading Refrigeration coolers market in terms of market size as well as CAGR, globally, by value, in 2021

APAC is expected to contribute to the highest CAGR during the forecast period in the refrigerated cooler market. The highest CAGR of the market in APAC is attributed to the increasing demand for refrigeration cooling units from the commercial and industrial applications in this region. APAC comprises countries such as China, India, and Japan, which are leading countries globally in terms of having higher refrigerated warehouse capacity, and the global market players are experiencing strong demand from countries such as China, India, Japan, and South Korea. Growth is mainly driven by the refrigerated warehouse, food & beverages processing, and meat and poultry processing applications. The growing population in APAC creates a high demand for food, thereby creating opportunities for food processing facilities in this market. Furthermore, government subsidies in setting up cold chain networks are strengthening the cold chain infrastructure across the region.

Refrigeration Coolers Market by Region

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Key Market Players

The Refrigeration coolers market is dominated by players such as Johnson Controls (Ireland), Lu-Ve (Italy), Lennox International (US), Kelvion (Germany) and Rivacold (Italy).

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Scope of the Report

Report Metric

Details

Market size available for years

2017-2027

Base year considered

2021

Forecast period

2022-2027

Forecast units

Value (USD Million),

Segments covered

By component, By refrigerant, By application

Geographies covered

North America, Europe, APAC, Rest of the World

Companies covered

Johnson Controls International plc (Ireland), Lu-Ve SPA (Italy), Lennox International (US), Kelvion Holding GmbH (Germany), Rivacold srl (Italy) H. Gόntner Limited (Italy), Evapco, Inc. (US), Thermofin (Canada), Emerson Electric Co (US), and Modine Manufacturing Co (US). Other players include Refrion Srl (Italy), Stefani SpA (Italy), Onda SpA (Italy), Roen Est Group (Italy), KFL srl (Italy), Walter Roller (Germany), CABERO (Germany), Thermokey Spa (Italy), Koxka (Spain), Centauro International (Portugal), Baltimore Aircoil Company (US), Daikin Industries, Ltd (Japan), Friterm A S (Turkey), Carrier Global Corporation (US), and Danfoss A/S (Denmark) are the key players in the refrigeration coolers market. (Total 25 companies)

The study categorizes the refrigeration coolers market based on value, by By component, By refrigerant, By application at the regional and global levels.

By Component type

  • Evaporators and Air coolers
    • Air Units
    • Dry Coolers
    • Brine Coolers
    • Blast/Tunnel Unit cooler
  • Condenser
    • Evaporative
    • Air-Cooled & Water-cooled

By Refrigerant Type

  • HFC/HFO
  • NH3
  • CO2
  • Glycol
  • Others

By Application

  • Commercial
    • Supermarkets and Hypermarkets
    • Convenience Stores and Mini Markets
    • Hospitality
  • Industrial
    • Refrigerated Warehouses
    • Fruit & Vegetable Processing
    • Beverage Processing
    • Dairy & Ice-cream Processing
    • Meat, Poultry, & Fish Processing
    • Special Applications

By Region

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Rest of Europe
  • APAC
    • China
    • Japan
    • India
    • South Korea
    • Rest of APAC
  • Rest of the World
    • Middle East & Africa
    • South America

Recent Developments

  • In May 2021, Johnson Controls acquired Silent-Aire, a Canada-based company that provides mission-critical custom air handlers and modular data centers for hyperscale cloud and colocation providers. Silent-Aire's portfolio of data center solutions would allow for rapid deployment of critical infrastructure in flexible configurations, with a focus on quality, scalability, and speed to market.
  • In May 2021, LU-VE entered into a strategic long-term agreement with Carrier Global Corporation, a global provider of healthy, safe, and sustainable building and cold chain solutions. As part of this agreement, LU-VE would supply engineered components, including heat exchangers, glass doors, and aftermarket solutions across Carrier’s Commercial HVAC and Refrigeration portfolios.
  • In February 2021, Emerson launched the Lumity supervisory control platform, a next-generation control platform for complete refrigeration and facility management. The new platform provides visual store management and robust control of refrigeration systems and buildings.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 28)
    1.1 STUDY OBJECTIVES
    1.2 MARKET DEFINITION
    1.3 STUDY SCOPE
           1.3.1 MARKET SEGMENTATION
                    FIGURE 1 REFRIGERATION COOLERS MARKET SEGMENTATION
           1.3.2 GEOGRAPHIC SCOPE
           1.3.3 INCLUSIONS AND EXCLUSIONS
           1.3.4 YEARS CONSIDERED FOR STUDY
    1.4 CURRENCY
    1.5 STAKEHOLDERS

2 RESEARCH METHODOLOGY (Page No. - 32)
    2.1 RESEARCH DATA
          FIGURE 2 REFRIGERATION COOLERS MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY DATA
                    2.1.1.1 Secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Primary interviews with experts
                    2.1.2.2 Breakdown of primary interviews
                    2.1.2.3 Key data from primary sources
                    2.1.2.4 Key industry insights
    2.2 MARKET SIZE ESTIMATION
          FIGURE 3 REFRIGERATION COOLERS MARKET: PROCESS FLOW OF MARKET SIZE ESTIMATION
           2.2.1 TOP-DOWN APPROACH
                    2.2.1.1 Approach for capturing market size by top-down analysis (supply side)
                                FIGURE 4 TOP-DOWN APPROACH: MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 1 - SUPPLY SIDE
                                FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 2 - SUPPLY SIDE
           2.2.2 BOTTOM-UP APPROACH
                    2.2.2.1 Approach for capturing market share by bottom-up analysis (demand side)
    2.3 MARKET PROJECTIONS
    2.4 MARKET BREAKDOWN AND DATA TRIANGULATION
          FIGURE 6 DATA TRIANGULATION
    2.5 RESEARCH ASSUMPTIONS
          TABLE 1 ASSUMPTIONS FOR RESEARCH STUDY
    2.6 LIMITATIONS
    2.7 RISK FACTORS

3 EXECUTIVE SUMMARY (Page No. - 44)
    FIGURE 7 EVAPORATORS AND AIR COOLERS EXPECTED TO BE FASTEST-GROWING SEGMENT IN MARKET DURING FORECAST PERIOD
    FIGURE 8 CO2 SEGMENT TO GROW AT HIGHEST CAGR IN REFRIGERATION COOLERS MARKET DURING FORECAST PERIOD
    FIGURE 9 SUPERMARKETS AND HYPERMARKETS SEGMENT OF COMMERCIAL APPLICATION TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD
    FIGURE 10 REFRIGERATION COOLERS MARKET IN APAC TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
    TABLE 2 SCENARIOS IN TERMS OF RECOVERY OF GLOBAL ECONOMY
    3.1 REALISTIC SCENARIO
    3.2 OPTIMISTIC SCENARIO
    3.3 PESSIMISTIC SCENARIO
          FIGURE 11 GROWTH PROJECTIONS OF REFRIGERATION COOLERS MARKET IN REALISTIC, OPTIMISTIC, AND PESSIMISTIC SCENARIOS
          TABLE 3 REFRIGERATION COOLERS MARKET: COVID-19 IMPACT ANALYSIS

4 PREMIUM INSIGHTS (Page No. - 51)
    4.1 ATTRACTIVE OPPORTUNITIES IN REFRIGERATION COOLERS MARKET
          FIGURE 12 RISING DEMAND FOR REFRIGERATION IN COMMERCIAL APPLICATIONS EXPECTED TO DRIVE MARKET
    4.2 REFRIGERATION COOLERS MARKET, BY REFRIGERANT TYPE
          FIGURE 13 NH3 REFRIGERANT TYPE EXPECTED TO HOLD LARGEST MARKET SHARE IN REFRIGERATION COOLERS MARKET IN 2027
    4.3 APAC: REFRIGERATION COOLERS MARKET, BY COUNTRY AND APPLICATION
          FIGURE 14 COMMERCIAL APPLICATIONS AND CHINA TO HOLD MAJOR SHARES OF REFRIGERATION COOLERS MARKET IN 2022
    4.4 REFRIGERATION COOLERS MARKET, BY COUNTRY
          FIGURE 15 REFRIGERATION COOLERS MARKET IN CHINA EXPECTED TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD

5 MARKET OVERVIEW (Page No. - 53)
    5.1 INTRODUCTION
    5.2 MARKET DYNAMICS
          FIGURE 16 IMPACT OF DRIVERS AND OPPORTUNITIES ON MARKET
          FIGURE 17 IMPACT OF RESTRAINTS AND CHALLENGES ON REFRIGERATION COOLERS MARKET
          FIGURE 18 RISING INVESTMENTS IN REFRIGERATED WAREHOUSES/COLD HOUSES TO PROPEL GROWTH OF REFRIGERATION COOLERS MARKET
           5.2.1 DRIVERS
                    5.2.1.1 Rising investments in refrigerated warehouses/cold storage facilities
                    5.2.1.2 Rising demand for frozen and processed foods worldwide
                    5.2.1.3 Rising demand to shift to lower-GWP refrigerants
           5.2.2 RESTRAINTS
                    5.2.2.1 High installation costs and other expenses
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Increasing demand for FMCG products
                    5.2.3.2 Influx of IoT fueling automation in refrigeration technologies
                    5.2.3.3 Rising trend of walk-in coolers
           5.2.4 CHALLENGES
                    5.2.4.1 Lack of skilled personnel along with high safety concerns
    5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMER’S BUSINESS (YC-YCC SHIFT)
          FIGURE 19 TRENDS/DISRUPTIONS IMPACTING CUSTOMER’S BUSINESS (YC-YCC SHIFT): REFRIGERATION COOLERS MARKET
    5.4 STANDARDS & REGULATIONS
           5.4.1 EUROPE
           5.4.2 NORTH AMERICA
           5.4.3 APAC
           5.4.4 GLOBAL
    5.5 ASP ANALYSI2S
          TABLE 4 AVERAGE SELLING PRICE OF REFRIGERANTS, BY TYPE (USD/KG)
    5.6 CASE STUDIES
           5.6.1 INDOSPACE AND KOOL-EX TO DESIGN AND SET UP THREE TEMPERATURE-CONTROLLED WAREHOUSING SPACES
           5.6.2 INNOVATE UK, IMS EVOLVE, AND TESCO STORES TO INVESTIGATE DEMAND-SIDE RESPONSE IN REFRIGERATION SYSTEMS
           5.6.3 BUDDERFLY AND KE2 THERM TO PARTNER FOR REFRIGERATION MONITORING AND SUSTAINABILITY
           5.6.4 ZERO ZONE AND EMERSON PARTNER ON DEMONSTRATION OF SYSTEM EFFICACY OF TRANSCRITICAL CO2 IN US
           5.6.5 METRO AG TO INSTALL PLUG-IN COMMERCIAL DISPLAY CASES
    5.7 VALUE CHAIN ANALYSIS
          FIGURE 20 VALUE CHAIN ANALYSIS OF REFRIGERATION COOLER ECOSYSTEM: R&D AND MANUFACTURING PHASES CONTRIBUTE MAXIMUM VALUE
           5.7.1 RESEARCH AND DEVELOPMENT (R&D):
           5.7.2 COMPONENT MANUFACTURERS:
           5.7.3 DISTRIBUTION/RESELLERS:
           5.7.4 ASSEMBLERS/INSTALLERS/INTEGRATORS:
           5.7.5 END USERS:
           5.7.6 AFTER-SALES SERVICES:
    5.8 ECOSYSTEM/MARKET MAP
          FIGURE 21 MARKET ECOSYSTEM
          FIGURE 22 MARKET PLAYER ECOSYSTEM
           5.8.1 R&D INSTITUTES
           5.8.2 REFRIGERATION COOLER PROVIDERS
           5.8.3 INSTALLERS/INTEGRATORS
           5.8.4 END USERS
    5.9 REFRIGERATION COOLERS MARKET: SUPPLY CHAIN
    5.10 TECHNOLOGY ANALYSIS
           5.10.1 KEY ADJACENT TECHNOLOGIES
                    5.10.1.1 Shell and tube heat exchanger
                    5.10.1.2 Spiral heat exchanger
                    5.10.1.3 Plate heat exchanger
                    5.10.1.4 Plate-fin heat exchanger
    5.11 PATENT ANALYSIS
           FIGURE 23 NUMBER OF PATENTS GRANTED FOR REFRIGERATION COOLERS, 2010-2020
           5.11.1 LIST OF MAJOR PATENTS
                     TABLE 5 LIST OF MAJOR PATENTS GRANTED FOR REFRIGERATION COOLERS, 2021
    5.12 TRADE DATA
           5.12.1 IMPORTS DATA
                     FIGURE 24 IMPORTS DATA FOR HS CODE 8418, BY COUNTRY, 2016–2020
                     TABLE 6 IMPORTS DATA FOR HS CODE 8542, BY COUNTRY, 2016–2020 (USD BILLION)
           5.12.2 EXPORTS DATA
                     FIGURE 25 EXPORTS DATA FOR HS CODE 8542, BY COUNTRY, 2016–2020
                     TABLE 7 EXPORTS DATA FOR HS CODE 8542, BY COUNTRY, 2016–2020 (USD BILLION)
    5.13 PORTER’S FIVE FORCES ANALYSIS
           TABLE 8 PORTER’S FIVE FORCES IMPACT ON MARKET
           FIGURE 26 PORTER’S FIVE FORCES ANALYSIS: MARKET
           5.13.1 THREAT OF NEW ENTRANTS
           5.13.2 THREAT OF SUBSTITUTES
           5.13.3 BARGAINING POWER OF SUPPLIERS
           5.13.4 BARGAINING POWER OF BUYERS
           5.13.5 INTENSITY OF COMPETITIVE RIVALRY

6 REFRIGERATION COOLERS MARKET, BY COMPONENT (Page No. - 86)
    6.1 INTRODUCTION
          FIGURE 27 MARKET FOR EVAPORATORS AND AIR COOLERS TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
          TABLE 9 REFRIGERATION COOLERS MARKET, BY COMPONENT, 2017–2021 (USD MILLION)
          TABLE 10 REFRIGERATION COOLERS MARKET, BY COMPONENT, 2022–2027 (USD MILLION)
    6.2 CONDENSERS
           6.2.1 AIR-COOLED
                    6.2.1.1 Increasing demand for condensers for refrigeration propelling growth of air-cooled condensers
           6.2.2 WATER-COOLED
                    6.2.2.1 Rising demand for less compact condensers fueling growth of water-cooled condensers
           6.2.3 EVAPORATIVE
                    6.2.3.1 Stringent regulations limiting physical size of cooling systems limit use of evaporative condensers
                                FIGURE 28 MARKET FOR EVAPORATIVE CONDENSERS TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
                                TABLE 11 MARKET FOR CONDENSERS, BY TYPE, 2017–2021 (USD MILLION)
                                TABLE 12 MARKET FOR CONDENSERS, BY TYPE, 2022–2027 (USD MILLION)
                                TABLE 13 MARKET FOR CONDENSERS, BY APPLICATION, 2017–2021 (USD MILLION)
                                TABLE 14 MARKET FOR CONDENSERS, BY APPLICATION, 2022–2027 (USD MILLION))
                                TABLE 15 MARKET FOR CONDENSERS, BY COMMERCIAL APPLICATIONS, 2017–2021 (USD MILLION)
                                TABLE 16 MARKET FOR CONDENSERS, BY COMMERCIAL APPLICATIONS, 2022–2027 (USD MILLION)
                                TABLE 17 MARKET FOR CONDENSERS, BY INDUSTRIAL APPLICATIONS, 2017–2021 (USD MILLION)
                                TABLE 18 MARKET FOR CONDENSERS, BY INDUSTRIAL APPLICATIONS, 2022–2027 (USD MILLION)
    6.3 EVAPORATORS AND AIR COOLERS
           6.3.1 RISING DEMAND FOR REFRIGERATION SYSTEMS IN LARGE REFRIGERATION PLANTS AND CENTRAL AIR CONDITIONING PLANTS FUELING GROWTH OF EVAPORATORS
           6.3.2 AIR UNITS
                    6.3.2.1 By design type
                               6.3.2.1.1 Horizontal
                                             6.3.2.1.1.1 Rising demand for refrigeration in attics or crawl spaces fueling growth of horizontal air coolers
                               6.3.2.1.2 Vertical
                                             6.3.2.1.2.1 Inclination toward compact design of air coolers increasing adoption of vertical air coolers
                               6.3.2.1.3 V-Shaped and angled designs
                                             6.3.2.1.3.1 Demand for coolers with reduced plan dimensions driving growth of V-shaped air coolers
                    6.3.2.2 By implementation type
                               6.3.2.2.1 Ceiling/wall
                                             6.3.2.2.1.1 Increasing space crunch in buildings has propelled adoption of ceiling/wall-mounted air coolers
                               6.3.2.2.2 Floor
                                             6.3.2.2.2.1 Demand for air cooling in large rooms driving growth of floor air coolers
                               6.3.2.2.3 Counter/Cabinets
                                             6.3.2.2.3.1 Rising need for air coolers in harsh environments fueling growth of counter/cabinet coolers
           6.3.3 DRY COOLERS
                    6.3.3.1 Demand for efficient heat transfer has contributed to growth of dry coolers
           6.3.4 BRINE COOLERS
                    6.3.4.1 Rising installation of air coolers in commercial and industrial refrigeration fueling growth of brine coolers
           6.3.5 BLAST/TUNNEL UNIT COOLER
                    6.3.5.1 Demand for cold storage has propelled demand for blast unit coolers
                                FIGURE 29 REFRIGERATION COOLERS MARKET FOR AIR UNIT TYPE TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD
                                TABLE 19 MARKET FOR EVAPORATORS AND AIR COOLERS, BY TYPE, 2017–2021 (USD MILLION)
                                TABLE 20 MARKET FOR EVAPORATORS AND AIR COOLERS, BY TYPE, 2022–2027 (USD MILLION)
                                TABLE 21 MARKET FOR EVAPORATORS AND AIR COOLERS, BY DESIGN TYPE, 2017–2021 (USD MILLION)
                                TABLE 22 MARKET FOR EVAPORATORS AND AIR COOLERS, BY DESIGN TYPE, 2022–2027 (USD MILLION)
                                TABLE 23 MARKET FOR EVAPORATORS AND AIR COOLERS, BY IMPLEMENTATION TYPE, 2017–2021 (USD MILLION)
                                TABLE 24 MARKET FOR EVAPORATORS AND AIR COOLERS, BY IMPLEMENTATION TYPE, 2022–2027 (USD MILLION)
                                TABLE 25 MARKET FOR EVAPORATORS AND AIR COOLERS, BY APPLICATION, 2017–2021 (USD MILLION)
                                TABLE 26 MARKET FOR EVAPORATORS AND AIR COOLERS, BY APPLICATION, 2022–2027 (USD MILLION)
                                TABLE 27 MARKET FOR EVAPORATORS AND AIR COOLERS, BY COMMERCIAL APPLICATIONS, 2017–2021 (USD MILLION)
                                TABLE 28 MARKET FOR EVAPORATORS AND AIR COOLERS, BY COMMERCIAL APPLICATIONS, 2022–2027 (USD MILLION)
                                TABLE 29 MARKET FOR EVAPORATORS AND AIR COOLERS, BY INDUSTRIAL APPLICATIONS, 2017–2021 (USD MILLION)
                                TABLE 30  MARKET FOR EVAPORATORS AND AIR COOLERS, BY INDUSTRIAL APPLICATIONS, 2022–2027 (USD MILLION)
    6.4 IMPACT OF COVID-19

7 REFRIGERATION COOLERS MARKET, BY REFRIGERANT TYPE (Page No. - 100)
    7.1 INTRODUCTION
          FIGURE 30 REFRIGERATION COOLERS MARKET FOR CO2 REFRIGERANT TYPE TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
          TABLE 31 REFRIGERATION COOLERS MARKET, BY REFRIGERANT, 2017–2021 (USD MILLION)
          TABLE 32 REFRIGERATION COOLERS MARKET, BY REFRIGERANT, 2022–2027 (USD MILLION)
    7.2 HFC/HFO
           7.2.1 INCREASING ADOPTION OF HFCS CONTRIBUTED TO OZONE DEPLETION
                    TABLE 33 MARKET FOR HFC/HFO REFRIGERANTS, BY APPLICATION, 2017–2021(USD MILLION)
                    TABLE 34 MARKET FOR HFC/HFO REFRIGERANTS, BY APPLICATION, 2022–2027 (USD MILLION)
    7.3 CO2
           7.3.1 INCREASED DEMAND FOR HEAT RECOVERY RESULTED IN ADOPTION OF CO2 REFRIGERANTS
                    TABLE 35  MARKET FOR CO2 REFRIGERANTS, BY APPLICATION, 2017–2021 (USD MILLION)
                    TABLE 36  MARKET FOR CO2 REFRIGERANTS, BY APPLICATION, 2022–2027 (USD MILLION)
    7.4 NH3
           7.4.1 NEED FOR EFFICIENT COOLING IN INDUSTRIAL APPLICATIONS CONTRIBUTING TO GROWTH OF NH3 REFRIGERANTS
                    TABLE 37  MARKET FOR NH3 REFRIGERANTS, BY APPLICATION, 2017–2021 (USD MILLION)
                    TABLE 38 MARKET FOR NH3 REFRIGERANTS, BY APPLICATION, 2022–2027 (USD MILLION)
    7.5 GLYCOL
           7.5.1 DEMAND FOR HIGHLY CHILLED COOLING SYSTEMS PROPELLING ADOPTION OF GLYCOL IN REFRIGERATION
                    TABLE 39 MARKET FOR GLYCOL REFRIGERANTS, BY APPLICATION, 2017–2021 (USD MILLION)
                    TABLE 40 MARKET FOR GLYCOL REFRIGERANTS, BY APPLICATION, 2022–2027 (USD MILLION)
    7.6 OTHERS
           7.6.1 DEMAND FOR ADDITIONAL SAFETY TO ENSURE SAFE OPERATIONS HAS INCREASED DEMAND FOR A2L REFRIGERANTS
                    TABLE 41 MARKET FOR OTHER REFRIGERANTS, BY APPLICATION, 2017–2021 (USD MILLION)
                    TABLE 42 MARKET FOR OTHER REFRIGERANTS, BY APPLICATION, 2022–2027 (USD MILLION)

8 REFRIGERATION COOLERS MARKET, BY APPLICATION (Page No. - 108)
    8.1 INTRODUCTION
          FIGURE 31 REFRIGERATION COOLERS MARKET FOR COMMERCIAL APPLICATIONS TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
          TABLE 43 REFRIGERATION COOLERS MARKET, BY APPLICATION, 2017–2021 (USD MILLION)
          TABLE 44 REFRIGERATION COOLERS MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
    8.2 COMMERCIAL
           8.2.1 SUPERMARKETS
                    8.2.1.1 Need for continuous refrigeration propelling demand for refrigeration units in supermarkets
           8.2.2 HYPERMARKETS
                    8.2.2.1 Demand for better visibility of food on racks increased adoption of refrigeration coolers in hypermarkets
           8.2.3 CONVENIENCE STORES & MINI MARKETS
                    8.2.3.1 Need for walk-in freezers in convenience stores accelerating demand for refrigeration coolers
           8.2.4 HOSPITALITY
                    8.2.4.1 Demand for cold storage of food and beverages in hotels propelled adoption of refrigeration coolers
                                FIGURE 32 REFRIGERATION COOLERS MARKET FOR SUPERMARKETS AND HYPERMARKETS SEGMENT OF COMMERCIAL APPLICATIONS TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
                                TABLE 45 MARKET FOR COMMERCIAL, BY APPLICATION, 2017–2021 (USD MILLION)
                                TABLE 46 MARKET FOR COMMERCIAL, BY APPLICATION, 2022–2027 (USD MILLION)
                                TABLE 47 MARKET FOR COMMERCIAL APPLICATIONS, BY REGION, 2017–2021 (USD MILLION)
                                TABLE 48 MARKET FOR COMMERCIAL APPLICATIONS, BY REGION, 2022–2027 (USD MILLION)
                                TABLE 49 MARKET FOR SUPERMARKET AND HYPERMARKET APPLICATIONS, BY REGION, 2017–2021 (USD MILLION)
                                TABLE 50 MARKET FOR SUPERMARKET AND HYPERMARKET APPLICATIONS, BY REGION, 2022–2027 (USD MILLION)
                                TABLE 51 MARKET FOR CONVENIENCE STORES AND MINI MARKETS APPLICATIONS, BY REGION, 2017–2021 (USD MILLION)
                                TABLE 52 MARKET FOR CONVENIENCE STORES AND MINI MARKETS APPLICATIONS, BY REGION, 2022–2027 (USD MILLION)
                                TABLE 53 MARKET FOR HOSPITALITY APPLICATIONS, BY REGION, 2017–2021 (USD MILLION)
                                TABLE 54 MARKET FOR HOSPITALITY APPLICATIONS, BY REGION, 2022–2027 (USD MILLION)
                                TABLE 55 MARKET FOR COMMERCIAL APPLICATIONS, BY REFRIGERANT, 2017–2021 (USD MILLION)
                                TABLE 56 MARKET FOR COMMERCIAL APPLICATIONS, BY REFRIGERANT, 2022–2027 (USD MILLION)
    8.3 INDUSTRIAL
           8.3.1 REFRIGERATED WAREHOUSES
                    8.3.1.1 Large, refrigerated warehouses/cold storage
                               8.3.1.1.1 Need for extra surveillance and maintenance of perishable items accelerating demand for refrigeration systems in large warehouses
                    8.3.1.2 Small storage rooms (including ripening room) and logistics warehouse
                               8.3.1.2.1 Demand for timely ripening of fruits and vegetables accelerating adoption of small storage rooms for refrigeration
           8.3.2 FRUIT & VEGETABLE PROCESSING
                    8.3.2.1 Preservation of fruits & vegetables for longer periods fueling growth of refrigeration coolers
           8.3.3 BEVERAGE PROCESSING
                    8.3.3.1 Demand for fresh beverages worldwide accelerating market for refrigeration coolers
           8.3.4 DAIRY & ICE-CREAM PROCESSING
                    8.3.4.1 Rising demand to reduce spoilage of dairy products has aggravated need for refrigeration coolers
           8.3.5 MEAT, POULTRY, & FISH PROCESSING
                    8.3.5.1 Transportation of frozen meat, poultry, and seafood contributed to adoption of refrigeration coolers
           8.3.6 SPECIAL APPLICATIONS
                    8.3.6.1 Increasing indoor, snow-based recreational activities contributed to adoption of refrigeration coolers
                                FIGURE 33 REFRIGERATION COOLERS MARKET FOR REFRIGERATED WAREHOUSES SEGMENT OF INDUSTRIAL APPLICATIONS TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
                                TABLE 57  MARKET FOR INDUSTRIAL, BY APPLICATION, 2017–2021 (USD MILLION)
                                TABLE 58  MARKET FOR INDUSTRIAL, BY APPLICATION, 2022–2027 (USD MILLION)
                                TABLE 59 MARKET FOR INDUSTRIAL APPLICATIONS, BY REGION, 2017–2021 (USD MILLION)
                                TABLE 60 MARKET FOR INDUSTRIAL APPLICATIONS, BY REGION, 2022–2027 (USD MILLION)
                                TABLE 61 MARKET FOR REFRIGERATED WAREHOUSE APPLICATIONS, BY REGION, 2017–2021 (USD MILLION)
                                TABLE 62 MARKET FOR REFRIGERATED WAREHOUSE APPLICATIONS, BY REGION, 2022–2027 (USD MILLION)
                                TABLE 63 MARKET FOR FRUIT & VEGETABLE PROCESSING APPLICATIONS, BY REGION, 2017–2021 (USD MILLION)
                                TABLE 64 MARKET FOR FRUIT & VEGETABLE PROCESSING APPLICATIONS, BY REGION, 2022–2027 (USD MILLION)
                                TABLE 65 MARKET FOR BEVERAGE PROCESSING APPLICATIONS, BY REGION, 2017–2021 (USD MILLION)
                                TABLE 66 MARKET FOR BEVERAGE PROCESSING APPLICATIONS, BY REGION, 2022–2027 (USD MILLION)
                                TABLE 67 MARKET FOR DAIRY & ICE-CREAM PROCESSING APPLICATIONS, BY REGION, 2017–2021 (USD MILLION)
                                TABLE 68 MARKET FOR DAIRY & ICE-CREAM PROCESSING APPLICATIONS, BY REGION, 2022–2027 (USD MILLION)
                                TABLE 69 MARKET FOR MEAT, POULTRY, & FISH PROCESSING APPLICATIONS, BY REGION, 2017–2021 (USD MILLION)
                                TABLE 70 MARKET FOR MEAT, POULTRY, & FISH PROCESSING APPLICATIONS, BY REGION, 2022–2027 (USD MILLION)
                                TABLE 71 MARKET FOR SPECIAL APPLICATIONS, BY REGION, 2017–2021 (USD MILLION)
                                TABLE 72 MARKET FOR SPECIAL APPLICATIONS, BY REGION, 2022–2027 (USD MILLION)
                                TABLE 73 MARKET FOR INDUSTRIAL APPLICATIONS, BY REFRIGERANT, 2017–2021 (USD MILLION)
                                TABLE 74 MARKET FOR INDUSTRIAL APPLICATIONS, BY REFRIGERANT, 2022–2027 (USD MILLION)
    8.4 IMPACT OF COVID-19

9 GEOGRAPHIC ANALYSIS OF REFRIGERATION COOLERS MARKET (Page No. - 127)
    9.1 INTRODUCTION
          FIGURE 34 MARKET IN APAC EXPECTED TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
          TABLE 75 R MARKET, BY REGION, 2017–2021 (USD MILLION)
          TABLE 76 MARKET, BY REGION, 2022–2027 (USD MILLION)
    9.2 NORTH AMERICA
          FIGURE 35 SNAPSHOT: REFRIGERATION COOLERS MARKET IN NORTH AMERICA
          TABLE 77 MARKET IN NORTH AMERICA, BY COUNTRY, 2017–2021 (USD MILLION)
          TABLE 78 MARKET IN NORTH AMERICA, BY COUNTRY, 2022–2027 (USD MILLION)
          TABLE 79 MARKET IN NORTH AMERICA, BY APPLICATION, 2017–2021 (USD MILLION)
          TABLE 80 MARKET IN NORTH AMERICA, BY APPLICATION, 2022–2027 (USD MILLION)
          TABLE 81 MARKET IN NORTH AMERICA FOR COMMERCIAL, BY APPLICATION, 2017–2021 (USD MILLION)
          TABLE 82 MARKET IN NORTH AMERICA FOR COMMERCIAL, BY APPLICATION, 2022–2027 (USD MILLION)
          TABLE 83 MARKET IN NORTH AMERICA FOR INDUSTRIAL, BY APPLICATION, 2017–2021 (USD MILLION)
          TABLE 84 MARKET IN NORTH AMERICA FOR INDUSTRIAL, BY APPLICATION, 2022–2027 (USD MILLION)
           9.2.1 US
                    9.2.1.1 Storage of frozen meat and beverages in commercial applications has increased demand for refrigeration coolers in US
           9.2.2 CANADA
                    9.2.2.1 Rising demand for CO2 refrigerant due to increased environmental concerns in Canada
           9.2.3 MEXICO
                    9.2.3.1 Need to minimize emissions and energy consumptions to drive said market in Mexico
    9.3 EUROPE
          FIGURE 36 SNAPSHOT: REFRIGERATION COOLERS MARKET IN EUROPE
          TABLE 85 MARKET IN EUROPE, BY COUNTRY, 2017–2021 (USD MILLION)
          TABLE 86 MARKET IN EUROPE, BY COUNTRY, 2022–2027 (USD MILLION)
          TABLE 87 MARKET IN EUROPE, BY APPLICATION, 2017–2021 (USD MILLION)
          TABLE 88 MARKET IN EUROPE, BY APPLICATION, 2022–2027 (USD MILLION)
          TABLE 89 MARKET IN EUROPE FOR COMMERCIAL, BY APPLICATION, 2017–2021 (USD MILLION)
          TABLE 90 MARKET IN EUROPE FOR COMMERCIAL, BY APPLICATION, 2022–2027 (USD MILLION)
          TABLE 91 MARKET IN EUROPE FOR INDUSTRIAL, BY APPLICATION, 2017–2021 (USD MILLION)
          TABLE 92 MARKET IN EUROPE FOR INDUSTRIAL, BY APPLICATION, 2022–2027 (USD MILLION)
           9.3.1 GERMANY
                    9.3.1.1 Rising need for natural refrigerants to drive market for refrigeration coolers in Germany
           9.3.2 UK
                    9.3.2.1 Growth in refrigeration coolers market due to rising demand for cold storage industry in UK
           9.3.3 FRANCE
                    9.3.3.1 Increasing adoption of refrigeration coolers in development of artificial ice-skating rinks to fuel market in France
           9.3.4 ITALY
                    9.3.4.1 Increasing adoption of natural refrigerant-based refrigeration systems to accelerate market growth in Italy
           9.3.5 REST OF EUROPE
    9.4 ASIA PACIFIC (APAC)
          FIGURE 37 SNAPSHOT: REFRIGERATION COOLERS MARKET IN APAC
          TABLE 93 MARKET IN APAC, BY COUNTRY, 2017–2021 (USD MILLION)
          TABLE 94 MARKET IN APAC, BY COUNTRY, 2022–2027 (USD MILLION)
          TABLE 95 MARKET IN APAC, BY APPLICATION,  2017–2021 (USD MILLION)
          TABLE 96 MARKET IN APAC, BY APPLICATION, 2022–2027 (USD MILLION)
          TABLE 97 MARKET IN APAC FOR COMMERCIAL, BY APPLICATION, 2017–2021 (USD MILLION)
          TABLE 98 MARKET IN APAC FOR COMMERCIAL, BY APPLICATION, 2022–2027 (USD MILLION)
          TABLE 99 MARKET IN APAC FOR INDUSTRIAL, BY APPLICATION, 2017–2021 (USD MILLION)
          TABLE 100 MARKET IN APAC FOR INDUSTRIAL, BY APPLICATION, 2022–2027 (USD MILLION)
           9.4.1 CHINA
                    9.4.1.1 Significant increase in demand for food, drugs and cosmetics, and cold chain logistics to drive the said market in China
           9.4.2 JAPAN
                    9.4.2.1 Shifting focus toward implementation of natural refrigerant-based systems to propel market growth in Japan
           9.4.3 INDIA
                    9.4.3.1 Government initiatives for setting up cold chain networks across the country to augment market growth in India
           9.4.4 SOUTH KOREA
                    9.4.4.1 Largest refrigerated warehousing capacity to propel market growth in Korea
           9.4.5 REST OF APAC
    9.5 REST OF THE WORLD (ROW)
          TABLE 101  MARKET IN ROW, BY REGION, 2017–2021 (USD MILLION)
          TABLE 102 MARKET IN ROW, BY REGION, 2022–2027 (USD MILLION)
          TABLE 103 MARKET IN ROW, BY APPLICATION, 2017–2021 (USD MILLION)
          TABLE 104 MARKET IN ROW, BY APPLICATION, 2022–2027 (USD MILLION)
          TABLE 105 MARKET IN ROW FOR COMMERCIAL, BY APPLICATION, 2017–2021 (USD MILLION)
          TABLE 106 MARKET IN ROW FOR COMMERCIAL, BY APPLICATION, 2022–2027 (USD MILLION)
          TABLE 107 MARKET IN ROW FOR INDUSTRIAL, BY APPLICATION, 2017–2021 (USD MILLION)
          TABLE 108 MARKET IN ROW FOR INDUSTRIAL, BY APPLICATION, 2022–2027 (USD MILLION)
           9.5.1 SOUTH AMERICA
                    9.5.1.1 Increasing demand for refrigeration coolers in commercial applications, especially supermarkets, to fuel market growth in South America
           9.5.2 MIDDLE EAST & AFRICA
                    9.5.2.1 Increasing investments in warehouses and cold storage facilities to fuel demand for refrigeration coolers in Middle East & Africa
    9.6 IMPACT OF COVID-19

10 COMPETITIVE LANDSCAPE (Page No. - 148)
     10.1 OVERVIEW
     10.2 KEY PLAYER STRATEGIES/MARKET EVALUATION FRAMEWORK
             TABLE 109 OVERVIEW OF STRATEGIES DEPLOYED BY KEY MANUFACTURERS OF REFRIGERATION COOLERS
             10.2.1 PRODUCT PORTFOLIO
             10.2.2 REGIONAL FOCUS
             10.2.3 MANUFACTURING FOOTPRINT
             10.2.4 ORGANIC/INORGANIC GROWTH STRATEGIES
     10.3 MARKET SHARE ANALYSIS: REFRIGERATION COOLERS MARKET, 2021
             FIGURE 38 MARKET SHARE ANALYSIS: REFRIGERATION COOLERS MARKET, 2021
             TABLE 110 REFRIGERATION COOLERS MARKET: DEGREE OF COMPETITION, 2021
     10.4 REVENUE ANALYSIS
             FIGURE 39 FIVE-YEAR SEGMENTAL REVENUE ANALYSIS OF TOP FIVE PLAYERS IN REFRIGERATION COOLERS MARKET
     10.5 COMPANY EVALUATION QUADRANT
             10.5.1 STAR
             10.5.2 EMERGING LEADER
             10.5.3 PERVASIVE
             10.5.4 PARTICIPANT
                       FIGURE 40 REFRIGERATION COOLERS MARKET: COMPANY EVALUATION QUADRANT, 2021
     10.6 COMPETITIVE BENCHMARKING
             FIGURE 41 OVERALL COMPANY FOOTPRINT
             TABLE 111 PRODUCT FOOTPRINT OF COMPANIES
             TABLE 112 APPLICATION FOOTPRINT OF COMPANIES
             TABLE 113 REGIONAL FOOTPRINT OF COMPANIES
     10.7 COMPETITIVE SCENARIO AND TRENDS
             10.7.1 PRODUCT LAUNCHES
                        TABLE 114 REFRIGERATION COOLERS MARKET: PRODUCT LAUNCHES, 2019–2021
             10.7.2 DEALS
                        TABLE 115 REFRIGERATION COOLERS MARKET: DEALS, 2018–2021
             10.7.3 OTHERS
                        TABLE 116 REFRIGERATION COOLERS MARKET: OTHERS

11 COMPANY PROFILES (Page No. - 160)
(Business Overview, Products/solutions/services Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
     11.1 KEY COMPANIES
             11.1.1 JOHNSON CONTROLS
                        TABLE 117 JOHNSON CONTROLS: BUSINESS OVERVIEW
                        FIGURE 42 JOHNSON CONTROLS: COMPANY SNAPSHOT
                        TABLE 118 JOHNSON CONTROLS: PRODUCT OFFERINGS
                        TABLE 119 JOHNSON CONTROLS: PRODUCT LAUNCHES
                        TABLE 120 JOHNSON CONTROLS: DEALS
             11.1.2 LENNOX INTERNATIONAL.
                        TABLE 121 LENNOX INTERNATIONAL.: BUSINESS OVERVIEW
                        FIGURE 43 LENNOX INTERNATIONAL.: COMPANY SNAPSHOT
                        TABLE 122 LENNOX INTERNATIONAL.: PRODUCT OFFERINGS
             11.1.3 LU-VE
                        TABLE 123 LU-VE: BUSINESS OVERVIEW
                        FIGURE 44 LU-VE: COMPANY SNAPSHOT
                        TABLE 124 LU-VE: PRODUCT OFFERINGS
                        TABLE 125 LU-VE: OTHERS
             11.1.4 KELVION
                        TABLE 126 KELVION: BUSINESS OVERVIEW
                        TABLE 127 KELVION: PRODUCT OFFERINGS
                        TABLE 128 KELVION: PRODUCT LAUNCHES
                        TABLE 129 KELVION: DEALS
             11.1.5 RIVACOLD
                        TABLE 130 RIVACOLD: BUSINESS OVERVIEW
                        TABLE 131 RIVACOLD: PRODUCT OFFERINGS
             11.1.6 GUNTNER
                        TABLE 132 GUNTNER: BUSINESS OVERVIEW
                        TABLE 133 GUNTNER: PRODUCTS/SERVICE OFFERINGS
             11.1.7 EVAPCO
                        TABLE 134 EVAPCO: BUSINESS OVERVIEW
                        TABLE 135 EVAPCO: PRODUCT
                        TABLE 136 EVAPCO: PRODUCT LAUNCHES
             11.1.8 THERMOFIN
                        TABLE 137 THERMOFIN: BUSINESS OVERVIEW
                        TABLE 138 THERMOFIN: PRODUCT OFFERINGS
             11.1.9 EMERSON ELECTRIC
                        TABLE 139 EMERSON ELECTRIC: BUSINESS OVERVIEW
                        FIGURE 45 EMERSON ELECTRIC CO.: COMPANY SNAPSHOT
                        TABLE 140 EMERSON ELECTRIC: PRODUCT OFFERINGS
                        TABLE 141 EMERSON ELECTRIC: PRODUCT LAUNCHES
             11.1.10 MODINE MANUFACTURING
                        TABLE 142 MODINE MANUFACTURING: BUSINESS OVERVIEW
                        FIGURE 46 MODINE MANUFACTURING CO.: COMPANY SNAPSHOT
                        TABLE 143 MODINE MANUFACTURING: PRODUCTS/SERVICE OFFERINGS
                        TABLE 144 MODINE MANUFACTURING: DEALS
     11.2 OTHER PLAYERS
             11.2.1 REFRION
                        TABLE 145 REFRION: COMPANY OVERVIEW
             11.2.2 STEFANI
                        TABLE 146 STEFANI: COMPANY OVERVIEW
             11.2.3 ONDA
                        TABLE 147 ONDA: COMPANY OVERVIEW
             11.2.4 ROEN EST
                        TABLE 148 ROEN EST: COMPANY OVERVIEW
             11.2.5 KFL
                        TABLE 149 KFL: COMPANY OVERVIEW
             11.2.6 WALTER ROLLER
                        TABLE 150 WALTER ROLLER: COMPANY OVERVIEW
             11.2.7 CABERO
                        TABLE 151 CABERO: COMPANY OVERVIEW
             11.2.8 THERMOKEY
                        TABLE 152 THERMOKEY: COMPANY OVERVIEW
             11.2.9 KOXKA
                        TABLE 153 KOXKA: COMPANY OVERVIEW
             11.2.10 CENTAURO INTERNACIONAL
                        TABLE 154 CENTAURO INTERNACIONAL: COMPANY OVERVIEW
             11.2.11 BALTIMORE AIRCOIL COMPANY
                        TABLE 155 BALTIMORE AIRCOIL COMPANY: COMPANY OVERVIEW
             11.2.12 DAIKIN
                        TABLE 156 DAIKIN: COMPANY OVERVIEW
             11.2.13 FRITERM
                        TABLE 157 FRITERM: COMPANY OVERVIEW
             11.2.14 CARRIER GLOBAL
                        TABLE 158 CARRIER GLOBAL: COMPANY OVERVIEW
             11.2.15 DANFOSS
                        TABLE 159 DANFOSS: COMPANY OVERVIEW

*Details on Business Overview, Products/solutions/services Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.

12 APPENDIX (Page No. - 256)
     12.1 DISCUSSION GUIDE
     12.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
     12.3 AVAILABLE CUSTOMIZATIONS
     12.4 RELATED REPORTS
     12.5 AUTHOR DETAILS

The study involved four major activities in estimating the current size of the global refrigeration coolers market. Exhaustive secondary research has been done to collect information about the market, the peer market, and the parent market. Validating findings, assumptions, and sizing with industry experts across the value chain through primary research has been the next step. Both top-down and bottom-up approaches have been employed to estimate the complete market size. After that, market breakdown and data triangulation methods have been used to estimate the market size of segments and subsegments.

Secondary Research

The secondary sources referred to for this research study include company websites, magazines, industry news, associations, and databases (OneSource, Factiva, and Bloomberg), Refrigerating and Air-Conditioning Engineers (ASHRAE), Institute of Refrigeration (IoR), International Association of Refrigerated Warehouses (IARW), Sheet Metal and Air Conditioning Contractors' National Association (SMACNA), and corporate filings (such as annual reports, investor presentations, and financial statements). Secondary data has been collected and analyzed to arrive at the overall market size, further validated by primary research.

Primary Research

Extensive primary research has been conducted after acquiring an understanding of the refrigeration coolers market scenario through secondary research. Several primary interviews have been conducted with market experts from both the demand-and supply-side players across four major regions, namely, North America, Europe, Asia Pacific, and the Rest of the World (the Middle East & Africa and South America). Approximately 30% and 70% of primary interviews have been conducted from the demand and supply side, respectively. Primary data has been collected through questionnaires, emails, and telephonic interviews. In the canvassing of primaries, various departments within organizations, such as sales, operations, and administration, were covered to provide a holistic viewpoint in our report.

After interacting with industry experts, brief sessions were conducted with highly experienced independent consultants to reinforce the findings from our primaries. This, along with the in-house subject matter experts’ opinions, has led us to the findings as described in the remainder of this report.

Refrigeration Coolers Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

The top-down and bottom-up approaches have been used to estimate and validate the overall size of the refrigeration coolers market . These methods have also been used extensively to estimate the size of various market subsegments.

The research methodology used to estimate the market size by top-down approach includes the following:

  • Focusing initially on top-line investments and expenditures being made in the refrigeration coolers market ecosystem
  • Calculating the market size considering the revenues generated by players through the sales of different types of refrigerants, such as HFC/HFO, CO2, NH3,  and Glycol
  • Further segmentation based on R&D activities and key developments in key market areas
  • Further segmenting based on mapping usage of refrigeration coolers for different functions and industries
  • Building and developing the information related to the revenues generated by players through different offerings
  • Conducting multiple on-field discussions with key opinion leaders across major companies involved in the development of refrigeration coolers
  • Estimating the geographic split using secondary sources based on various factors, such as the number of players in a specific country and region, the role of major players in the market for the development of innovative products, adoption, and penetration rates in particular countries for various applications, government support, investments, and other factors

The research methodology used to estimate the market size by bottom-up approach includes the following:

  • Identifying the entities in the refrigeration coolers market influencing the entire market, along with the related players, including different types of refrigeration cooler providers
  • Analyzing major manufacturers of refrigeration coolers, studying their portfolios, and understanding different types of refrigerants, such as HFC/ HFO, CO2, NH3, A2L, and W (Glycol)
  • Analyzing trends pertaining to the use of different types of refrigeration coolers for different kinds of applications and end-user industries
  • Tracking the ongoing and upcoming developments in the market, such as investments made, R&D activities, government support, product launches, collaborations, and partnerships, and forecasting the market based on these developments and other critical parameters
  • Carrying out multiple discussions with key opinion leaders to understand the different types of refrigeration coolers, applications, and recent trends in the market, thereby analyzing the breakup of the scope of work carried out by major companies
  • Arriving at the market estimates by analyzing revenues of the companies generated from each type of refrigeration cooler and then combining the same to get the market estimates
  • Segmenting the overall market into various other market segments
  • Verifying and cross-checking the estimate at every level from the discussion with key opinion leaders, such as CXOs, directors, and operations managers, and finally with the domain experts in MarketsandMarkets
  • Studying various paid and unpaid sources of information, such as annual reports, press releases, white papers, and databases

Data Triangulation

After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. In order to complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.

Report Objectives

  • To describe and forecast the refrigeration coolers market, in terms of value, by component, by refrigerant type, and application.
  • To describe and forecast the market, in terms of value, by region—North America, Europe,
    Asia Pacific (APAC), and Rest of the World (RoW)
  • To provide detailed information regarding major factors influencing the market growth (drivers, restraints, opportunities, and challenges)
  • To strategically analyze micromarkets with regard to individual growth trends, prospects,
    and contributions to the total market
  • To strategically profile key players and comprehensively analyze their market position
    in terms of ranking and core competencies, along with detailing the competitive landscape for market leaders
  • To analyze strategic approaches such as product launches, contracts, agreements, and partnerships in the refrigeration coolers market.

Available Customizations

MarketsandMarkets offers the following customizations for this market report:

  • Detailed analysis and profiling of additional market players
Report Code
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