The Europe Industrial Cooling Systems Market would witness market growth of 5.1% CAGR during the forecast period (2023-2030).
The industrial cooling systems are increasing in demand in the food and beverage industry. The use of packaged and processed foods and beverages is on the rise, and there is a greater need for industrial cooling systems due to these factors and the desire to avoid spoiling food and drink. The market is anticipated to be impacted during the projected period by the adoption of upgraded and upgraded cold chain systems.
Food and beverage production, storage, packaging, and distribution encompass a wide range of products. The industry is highly regulated, and it is required to use cutting-edge practices to maintain product quality and prevent product degradation. Systems for cooling industrial processes save energy and enhance productivity. The automotive industry's expanding need for cooling systems is driving industry growth.
Additionally, with the increasing demand for automobiles across the region will drive the manufacturing of more vehicles, resulting in the rising demand for industrial cooling systems. Systems for cooling industrial processes save energy and enhance productivity. The automotive industry's expanding need for cooling systems is driving industry growth.
The manufacturing of chemicals is one of the largest manufacturing sectors in Europe. The chemical industry produces polymers, fundamental inorganics, specialized chemicals, consumer chemicals, and petrochemicals. This industry provides solutions for other industries as well as for several societal issues. With sales of €565 billion in 2018—or about 17% of all chemical sales worldwide—it represents around 7.5% of the EU's manufacturing sector by turnover. Therefore, these factors will support the expansion of the chemical sector and boost the regional industrial cooling system market's revenue.
The Germany market dominated the Europe Industrial Cooling Systems Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,331.7 million by 2030. The UK market is exhibiting a CAGR of 4.2% during (2023 - 2030). Additionally, The France market would experience a CAGR of 5.9% during (2023 - 2030).
Based on End-user, the market is segmented into Chemical, Oil & Gas, Utility & Power, Pharmaceuticals, Food & Beverage, and Others. Based on Function, the market is segmented into Stationary Cooling, and Transport Cooling. Based on Product Type, the market is segmented into Evaporative Cooling, Air Cooling, Water Cooling, and Hybrid Cooling. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide Industrial Cooling Systems Market is Projected to reach USD 23.4 Billion by 2030, at a CAGR of 5.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Airedale International Air Conditioning Ltd. (Modine Manufacturing Company), Emerson Electric Co., GEA Group AG, Johnson Controls International PLC, Schneider Electric SE, SPX Technologies, Inc., Baltimore Aircoil Company, Inc. (Amsted Industries), Brentwood Industries, Inc., Star Cooling Tower Pvt Ltd. and Rittal GmbH & Co. KG (Friedhelm Loh Stiftung & Co. KG).
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