ShareThe global industrial refrigeration market
The global industrial refrigeration market is expected to grow from USD 22,571 million in 2014, and reach USD 33,904 million in 2020, with a Compound annual growth rate (CAGR) of 7.1%.
The global industrial refrigeration market is expected to grow from USD 22,571 million in 2014, and reach USD 33,904 million in 2020, with a Compound annual growth rate (CAGR) of 7.1%.
Evaporator units, industrial racks and compressors combined, accounted for about a 64% share of the global industrial refrigeration market in 2014. The growth of food processing industries, in addition to the expansion of refrigerated warehouses in developing countries, such as India, China, and Brazil, is expected to boost the demand of industrial refrigeration during the forecast period. The growth in outsourcing of pharmaceutical manufacturing facilities by developed countries has increased the demand of pharmaceuticals cold chain supplies and logistics in recent years.
The market in Asia–Pacific, Latin America and emerging countries of the Middle-East have shown promising growth during the past few years. The European market is heading towards maturity, and it is expected to witness a below average growth during the forecast period. The growth of the industrial refrigeration equipment market in European countries is mainly anticipated due to the replacement of existing industrial refrigeration parts.
Source: https://www.psmarketresearch.com
Evaporator units, industrial racks and compressors combined, accounted for about a 64% share of the global industrial refrigeration market in 2014. The growth of food processing industries, in addition to the expansion of refrigerated warehouses in developing countries, such as India, China, and Brazil, is expected to boost the demand of industrial refrigeration during the forecast period. The growth in outsourcing of pharmaceutical manufacturing facilities by developed countries has increased the demand of pharmaceuticals cold chain supplies and logistics in recent years.
The market in Asia–Pacific, Latin America and emerging countries of the Middle-East have shown promising growth during the past few years. The European market is heading towards maturity, and it is expected to witness a below average growth during the forecast period. The growth of the industrial refrigeration equipment market in European countries is mainly anticipated due to the replacement of existing industrial refrigeration parts.
Source: https://www.psmarketresearch.com