Published Date: 30-Apr-22
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According to a new report, published by KBV research, The Global Refrigeration Coolers Market size is expected to reach $4.7 billion by 2027, rising at a market growth of 6.3% CAGR during the forecast period.
The HFC/HFO segment acquired maximum revenue share in the Global Refrigeration Coolers Market by Refrigerant Type 2020, thereby, achieving a market value of $1.4 billion by 2027. This is because refrigeration systems that use HFC/HFO as refrigerant are widely used in industry. In addition, their demand stems from their superior safety and efficiency, as well as their minimal installation costs.
The Industrial segment is showcasing a CAGR of 7.8% during (2021 - 2027). Further this segment is sub-divided into Refrigerated Warehouses, Fruit & Vegetable Processing, Beverage Processing, Dairy & Ice-cream Processing, Meat, Poultry, & Fish Processing, and Special Applications. In 2020, the Refrigerated Warehouses segment obtained the largest revenue share of the Refrigeration Coolers Market. This is because almost everything bought from the store and kept in the refrigerator has most likely come from a cold storage facility. Refrigerated warehouse storage is required for foods such as dairy goods, meat, vegetables, ice creams, and others.
Asia Pacific is the fastest growing region in the Global Refrigeration Coolers Market by Region 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $1.7 billion by 2027. The Europe market is estimated to witness a CAGR of 6.1% during (2021 - 2027). Additionally, The North America market would exhibit a CAGR of 5.9% during (2021 - 2027).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Johnson Controls International PLC, Emerson Electric Co., Carrier Global Corporation, Daikin Industries, Ltd., The Danfoss Group, Lennox International, Inc., Guntner GmbH & Co. KG, Evapco, Inc., Baltimore Aircoil Company Inc. (Amsted Industries), and Koxka.
By Refrigerant Type
By Commercial Type
By Industrial Type
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