Industrial Refrigeration Market Trends

Drivers

• Increasing Adoption of Variable Speed Compressors

One of the primary market drivers is the increasing use of variable speed compressors, which help improve energy efficiency and match the suction generators with different cooling demands. Typically, the conventional industrial fixed-speed compressors will continue to function at a constant speed all through causing energy wastage during low-demand periods. In contrast, variable speed compressors respond dynamically to the system load/actual cooling needs leading to superior energy savings, bottom-line temperature control, and better reliability.

• Shift towards Eco-Friendly Refrigerants

Another crucial driver in the industrial refrigeration market is the speedier shift towards environmentally-friendly refrigerants. With regulatory changes and consumer pressures forcing a re-evaluation of traditional synthetic refrigerants with high-GWP used by industrial refrigeration systems, industrial refrigeration is in the cusp of change. Natural refrigerants like ammonia, carbon dioxide and hydrocarbons are gaining more importance providing environmental benefits and compliance with stringent regulations.

Restraints

• High Energy Consumption and Operating Expense

The high capital and operational cost associated with industrial refrigerators acts as a major restraint in the growth of industrial refrigeration market. Adoption of comprehensive refrigeration requires substantial capital outlay, which includes costs of the machinery, installation, and synchronization with existing processes. In addition, these systems cost a lot to operate, mostly because they consume a lot of energy. The maintenance and repairing cost is also high, increasing operational expenses. These costs can be especially daunting for small and medium sized enterprises (SMEs), restricting access to modern, more efficient refrigeration systems.

• Lack of Accessibility

Purchasing and installing the refrigeration systems can be expensive and these costs will vary depending on the size, type, and complexity of your equipment. A small walk-in cooler may be less expensive compared to an industrial refrigeration system. Small businesses are especially discouraged by the upfront cost, which they might not be able to support without having to buy all of the equipment necessary for the refrigerator to run smoothly.