The Europe Centralized Refrigeration Systems Market would witness market growth of 5.2% CAGR during the forecast period (2023-2030). In the year 2020, the Europe market's volume surged to 6,21,384 Units showcasing a growth of 5.1% (2019-2022).
The food and beverage, pharmaceutical, and other industries are expanding rapidly. The growth of the food and beverage industry is primarily driven by a surge in disposable income and a shift in general lifestyle patterns that promote dining out and fast food. As a result, numerous businesses are increasing their production capacities. This is anticipated to attract foreign investment in both high-tech and labour-intensive businesses.
In most industries, refrigeration systems are essential for maintaining machines and procedures cool to prevent accidents caused by uncontrolled chain reactions, particularly in substances with low boiling points. In addition, refrigeration systems are used to maintain a comfortable environment for laborers and machines, which generate a great deal of heat. Therefore, it is projected that market growth will have a favourable effect on market growth.
The market in Europe is dynamic and evolving, driven by environmental concerns, regulatory changes, and the diverse needs of industries such as food retail, pharmaceuticals, and manufacturing. As sustainability and energy efficiency continue to be priorities, the market is likely to see ongoing innovation and growth.
The Germany market dominated the Europe Centralized Refrigeration Systems Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $2,641.9 million by 2030. The UK market is exhibiting a CAGR of 4.3% during (2023 - 2030). Additionally, The France market would experience a CAGR of 6% during (2023 - 2030).
Based on End-user, the market is segmented into Industrial (Refrigerated Warehouse, Food Processing, Healthcare, and Others), and Commercial (Hotel, Restaurant, & Catering, and Retail). Based on Refrigerant, the market is segmented into Ammonia, Carbon dioxide, F-Gas, and Others. Based on Component, the market is segmented into Condensers, Compressors, Controls, Evaporators, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Centralized Refrigeration Systems Market will Hit $43.6 Billion by 2030, at a CAGR of 5.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include The Danfoss Group, Daikin Industries Ltd., Evapco, Inc., Carrier Global Corporation, GEA Group AG, Emerson Electric Co., Bitzer SE, Johnson Controls International PLC, Frigo Group and LU-VE S.p.A. (Finami S.R.L.)
By End-user (Volume, Units, USD Million, 2019-2030)
By Refrigerant (Volume, Units, USD Million, 2019-2030)
By Component
By Country (Volume, Units, USD Million, 2019-2030)
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