Industrial refrigeration systems find application mainly in the food processing, oil and gas, and chemicals and pharmaceuticals industries. Though industrial refrigeration systems are very similar to commercial and residential refrigeration systems, certain parameters are defined, which qualifies them for industrial use. The parameters are – size, Refrigerant, System types and Load temperature. The analysts forecast the global industrial refrigeration market to grow at a CAGR of 6.72% during the period 2016-2020. Covered in this report
The report covers the present scenario and the growth prospects of the global industrial refrigeration systems market for 2016-2020. To calculate the market size, the report considers the revenue generated by the sale of industrial refrigeration systems offered by market vendors.
The market is divided into the following segments based on end-user:
- Food processing industry
- Oil and gas industry
- Chemical/pharmaceutical industry
The author of the report recognizes the following companies as the key players in the Global Industrial Refrigeration Systems Market: Daikin, Danfoss, GEA Group, Johnson Controls and Trane
Other Prominent Vendors in the market are: Dover, AHT Cooling Systems, Star Refrigeration, BITZER Kühlmaschinenbau, Industrial Frigo, and CIMCO Refrigeration.
Commenting on the report, an analyst from the research team said: “One of the major trends of the market is increased safety and environmental requirements.”
According to the report, in the last decade, the industrial refrigeration market has undergone considerable change. Mergers have played a big part in this transformation, with several larger companies acquiring refrigeration contracting companies. This has led to the creation of several global refrigeration companies.
Further, the report states that factors such as increasing safety and environmental regulations and capital intensiveness of refrigeration systems will pose a challenge to the growth of the market.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Source: researchandmarkets