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Market Leadership - Industrial Refrigeration Systems Market

The Industrial refrigeration systems market is highly competitive with a number of global and local players offering Industrial refrigeration system products and services in various applications across regions. The global industrial refrigeration systems market is expected to grow at a CAGR of 5.24% between 2016 and 2022. Since the past few years, the market has been growing at a steady rate and is expected to continue to grow at a significant rate owing to the changing regulatory standards towards adoption of natural refrigerants and growing focus from developing countries towards strengthening cold chain infrastructure of their respective regions. Johnson Controls, Inc. (U.S.) and Emerson Electric Co. (U.S.), Ingersoll Rand Plc (Ireland), GEA Group AG (Germany), The Danfoss Group (Denmark), Daikin Industries, Ltd. (Japan), United Technologies Corporation (U.S.), Mayekawa Mfg. Co. Ltd. (Japan), Evapco, Inc. (U.S.), BITZER Kuhlmaschinenbau GmbH (Germany), Baltimore Aircoil Company (U.S.), Lennox International Inc. (U.S.), and LU-VE Group (Italy) are some of the key players in this market.

The major players adopted the strategy of new product launches and business expansions to increase their market presence across the globe. For example, in August 2016, Carrier Transicold, a business unit of United Technologies Corporation (U.S.), introduced customizable telematics solution to provide remote refrigeration unit monitoring, control and diagnostics, other value-added capabilities for its transport refrigeration units (TRUs). Also in July 2016, Mayekawa Mfg. Co. Ltd. (Japan) expanded its presence in North America by opening its office in Panama City.

Johnson Controls, Inc. (U.S.) and Emerson Electric Co. (U.S.) are two of the key players in the industrial refrigeration systems market. Johnson Controls, Inc. offers air handlers, compressors, condensers, evaporators, controls, plate heat exchangers, and others for catering to the needs of industrial refrigeration systems market. The company’s sales, marketing, and distribution channels are spread over 150 countries, with major focus on North American and European regions for revenue generation. The company recently upgraded its hydrofluorocarbon (HFC) product lines, in June 2016, to be fully compatible with the non-flammable, low-GWP refrigerant – Opteon XP10 (R-513A), manufactured by The Chemours Company (U.S.).

Emerson Electric Co., under its climate technologies business segment, offers a range of compressors, condensers, heat exchangers, and related equipment for meeting diversified industrial refrigeration requirements, while its industrial automation business segment provides drives and motors for the said market. Some of the end-user industrial segments utilizing the industrial refrigeration products and related support services of Emerson are food and beverage, cold storage facilities and warehouse, plastic transformation, chemicals and pharmaceuticals, and oil and gas.

Related Reports:

Industrial Refrigeration Systems Market by Equipment (Compressors, Condensers, Evaporators), Refrigerant Type (Ammonia, CO2, HFCS), Application (Fruits & Vegetables Processing, Beverages, Refrigerated Warehouses), & Geography - Global Forecast to 2022

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