Industrial Refrigeration Market Updates

Global Industrial Refrigeration Market size was valued at USD 20.48 Billion in 2023 and is poised to grow from USD 21.38 Billion in 2025 to USD 28.90 Billion by 2032, growing at a CAGR of 4.4% in the forecast period (2025-2032).

'Daikin Industries', 'Emerson Electric', 'GEA Group', 'Ingersoll Rand', 'Carrier', 'Danfoss', 'Evapco', 'Johnson Controls', 'LU-VE Group and Mayekawa', 'BITZER', 'Mitsubishi Heavy Industries', 'Panasonic', 'Thermo King', 'Carlyle Compressors', 'Baltimore Air Coil', 'Frascold', 'Kuhnke', 'Sanden'

Increasing Adoption of Variable Speed Compressors

Introduction of Green Refrigeration Technologies: One of the key areas where industrial refrigeration compressor market is witnessing wide transformation is the emergence of environmentally sustainable refrigeration technology. Green technology includes energy recovery systems, waste heat use and sustainable design principles. It also encompasses environmentally friendly refrigerants. This industrial refrigeration market trend is in accordance with the global transition towards sustainable development to reduce the environmental burden being imparted by industrial refrigeration systems, while also promoting circular economy practices.

As per the industrial refrigeration market analysis, North America is dominating the global market. The contribution of different types of businesses and industries is one reason why North America is considered an important market globally for industrial refrigeration systems. They include food and beverage, pharmaceuticals, chemicals, and cold storage plants. Along with the strict regulations regarding food safety and quality, the robust infrastructure of the region significantly contributes to high demand for industrial refrigeration in this region. This is due to the contribution of industrial refrigeration systems to regional demand, supported by vibrant infrastructure in the region.