Refrigeration Coolers Market

Market Leadership - Refrigeration Coolers Market

The global refrigeration coolers market size is projected to grow from USD 3.6 billion in 2022 to USD 4.8 billion by 2027, at a CAGR of 6.0%. The market slightly declined in 2020, mainly due to the impact of COVID-19. The supply chain disruption caused by the pandemic affected the market especially commercial as well as industrial and others significantly. Also, due to lockdown restrictions, companies were not able to source the required labor for their operations due to travel restrictions.

Though the market is expected to be impacted in 2020-2021, it is expected to fully recover by mid 2022. Increasing demand for 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 primarily in commercial and industrial applications will drive the demand for this technology in the near future.

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Some prominent players offering refrigeration coolers are Johnson Controls International plc (Ireland), Lu-Ve SPA (Italy), Lennox International (US), Kelvion Holding GmbH (Germany), Rivacold srl (Italy) H. Güntner 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).

The refrigeration coolers market is competitive, owing to the dominance of local as well as regional players with top players accounting to 40--50% of the entire global market. Key strategies adopted by these players to expand their product portfolio, increase their market share, and expand their presence in the market are partnerships, collaborations and product launches. Many market players adopted product launches and deals as their primary business strategies. For instance, 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 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.

Johnson Controls provides building products, energy solutions, integrated infrastructure, and next-generation transportation systems. Its technology and service capabilities include fire solutions, security solutions, HVAC solutions, power solutions, and energy storage solutions to serve various end markets, including large institutions, commercial buildings, retail, industrial, small businesses, and residential. Its products and solutions enable smart, energy-efficient, sustainable buildings that work seamlessly together to advance the safety, comfort, and intelligence of spaces. It conducts its business through four business segments: Building Solutions North America, Building Solutions EMEA/LA, Building Solutions Asia Pacific, and Global Products. The building products category includes HVAC, control, refrigeration, integrated electronic security, and integrated fire detection and suppression systems. The company serves the refrigeration cooler market through its different product portfolio of refrigeration systems such as FRICK Food and Beverage, YORK Process Systems, and other OEM systems which integrate a range of refrigeration components such as condensers, evaporators, and cooling units.

Lennox International provides climate-control solutions and engages in the design, manufacture, and sale of products for heating, ventilation, air conditioning, and refrigeration. The company manufactures and markets products for heating, ventilation, air conditioning, and refrigeration (HVACR) markets. It operates through the following business segments: Residential Heating & Cooling, Commercial Heating & Cooling, and Refrigeration. The Residential Heating & Cooling segment manufactures and markets furnaces, air conditioners, heat pumps, packaged heating and cooling systems, equipment, and accessories. The Refrigeration segment includes products such as condensing units, unit coolers, fluids, coolers, air-cooled condensers, supermarket display cases, and systems for the commercial refrigeration market. This segment manufactures and markets equipment under the Heatcraft Worldwide Refrigeration brand. These products are sold to distributors, installing contractors, engineering design firms, original equipment manufacturers (OEMs), and end users. Geographically, the company operates in North America, South America, Europe, and Asia Pacific. In international markets, Lennox manufactures and markets refrigeration products, including condensing units, unit coolers, air-cooled condensers, fluid coolers, compressor racks, and industrial process chillers.

Related Reports:

Refrigeration Coolers Market with COVID-19 Impact Analysis by Component (Evaporators and Air Coolers, Condensers), Refrigerant (HFC/HFO, NH3, CO2, Glycol, Others), Applications (Commercial, Industrial) and Geography - Global Forecast to 2027

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Report Code
SE 8040
RI Published ON
2/4/2022
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