Few Diverse Global Players Dominate the Market Holding ~45% of Revenue Share Despite the Presence of about ~150 Competitors Comprising of Country-Niche Players and Some Specialist Players, finds a recent market study on Global Industrial Refrigeration Market by Ken Research
Industrial refrigeration removes heat from large-scale processes or materials and drops the temperature to the desired level. The compressor, condenser, evaporator, and controls are the four essential components of a refrigerator. Large freezing and refrigeration plants use industrial refrigeration systems for application in various industrial applications, including food and beverage processing, cold storage, and others. The industrial refrigeration system uses cutting-edge, modern production techniques that contribute to increasing product life span and lowering energy costs.
Ken Research shares 3 key insights on the competitive landscape of this dynamic market from its latest research study
Global Players constitute about 15% of the Total Number of Competitors While Regional Companies Also Have a Strong Presence and Comprising ~35%
A comprehensive competitive analysis conducted during the Research Study found that the Global Industrial Refrigeration market is highly competitive with ~150 players which include globally diversified players, regional players as well as country-niche players having their own niche in refrigerators which serve multiple industries. The country-niche players dominate the market comprising about 50% in terms of total competitors by type followed by regional players which represent ~35% of competitors. Most of the country-niche players are equipment suppliers. Some of these who successfully evolve to create specific products often get acquired by large global players seeking to grow and diversify quickly.
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Leading Key Players Ongoing Efforts To Provide Industrial Refrigeration Solutions To Various End-User Are Driving Revenue Growth In the Market
Detailed comparative analysis of key competitors available within the Research Study shows that specialist players Bitzer, Mayekawa, and LU-VE Group are highly focused on providing a significant number of industrial refrigerator products and advanced techniques that can be used across food & beverage, chemical & petrochemical, pharmaceutical. Furthermore, several companies and organizations are heavily investing in R&D to provide users with refrigerant products and technology.
- In March 2022, Danfoss’s invested in research and development (R&D) of industrial refrigeration, which helped the company to increase its profit margin by 23%. The huge investment also allows the company for building new services, products, and processes of industrial refrigeration.
- Danfoss uses a simulation tool: electrical mechanical, 3D E CAD, and M-CAD which helps in minimizing the time of new product development and providing high-quality devices.
Increasing Government Initiatives and the Growing Need for Industrial Refrigeration among End-User Led to Major Industry-Wide Developments, Acquisitions, Partnerships, and Expansion.
- The USA Federal Government stated to implement cost-effective programs to minimize the procurement of materials and substances that contribute to the depletion of stratospheric ozone and/or result in the use, release, or emission of high global warming potential (GWP) hydrofluorocarbons.
- In March 2021, Emerson Electric, a cold chain solution provider partnered with Carrier as part of the Carrier Alliance Supplier Program. Emerson will provide software and technology in its air conditioning and cold chain business, such as sensors, valves, and compressors through a range of products for Carrier’s portfolio.
- In December 2020, Danfoss announced the release of the second version of the Evaporator Controller which comes with latest version of EKE 400 with the support of DX evaporator with or without hot gas defrost including CO2 and the new cooling helps in enabling DX direct expansion control.
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Key Topics Covered in the Report
- Snapshot of the Global Industrial Refrigeration Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of the Global Industrial Refrigeration Market
- Historic Growth of the Overall Global Industrial Refrigeration Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of the Global Industrial Refrigeration Industry
- Overview, Product Offerings, and Strength & Weakness of Key Competitors
- Covid 19 Impact on the Overall Global Industrial Refrigeration Market
- Future Market Forecast and Growth Rates of the Total Global Industrial Refrigeration Market and by Segments
- Market Size of Application / End User Segments with Historical CAGR and Future Forecasts
- Analysis of the Industrial Refrigeration Market in Major Global Countries
- Major Production/Supply and Consumption/Demand Hubs in Each Region
- Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Major Country
Notable Key Players Mentioned in the Report
- Emerson Electric Co.
- Baltimore Aircoil Company
- Bitzer
- Daikin Industries Ltd.
- Danfoss
- GEA Group AG
- Güntner GmbH & Co. KG
- Ingersoll Rand
- Johnson Controls
- Lennox International Inc.
- LU-VE Group
- Mayekawa
Notable Emerging Companies Mentioned in the Report
- Dynamic Air Cooling Technology
- Barocal Ltd
- CACHE DNA
- Ubiblue
- V-Chiller
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Industrial Refrigeration Companies
- Component Manufacturing Companies for Refrigeration Equipment
- Industrial Refrigerator Distributors
- Industrial Refrigeration Association
- Government And Research Organizations
- Investment Banks and PE Firms focused on Industrial Refrigeration Sector
- Refrigeration Compressor Manufacturers
- Providers of Industrial Refrigerant
- Government Ministries and Departments of Heavy Industries
- Environment Regulatory Authorities
- Industrial Equipment Regulatory Authorities
Period Captured in the Report
- Historical Period: 2017-2021
- Forecast Period: 2022E-2028F
For More Information on the Research Report, refer to below links: –
Global Industrial Refrigeration Market
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