Industrial Refrigeration System Market Share | Industry Analysis Report 2026

The industrial refrigeration system market has been expanding its horizons with the increasing global demand for sustainable food preservation techniques. Having realized the perks of following a healthy lifestyle, consumers worldwide have been depicting an interest to adopt healthy diets, thereby increasing the demand for frozen foods. In fact, reliable reports suggest that frozen fruits and veggies encompass the ability to retain nutrients better than fresh products that are consumed just a few hours post packaging. This trend has encouraged food retailing and e-commerce companies to invest heavily in the advanced industrial refrigeration equipment to preserve and maintain the quality of food items.

For instance, Walmart Inc, last year, announced plans to invest USD 1.2 billion to upgrade logistics in China. The company invested in food distribution center that can store or process 4,000 kinds of refrigerated, temperature-regulated or frozen goods simultaneously. Such investments are likely to impact the industrial refrigeration system market trends over the ensuing years.

A study conducted at Global Market Insights Inc. suggests that the industrial refrigeration system market is expected to exceed USD 19 billion by 2026.

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Despite the appreciable growth of this vertical, the ongoing COVID-19 pandemic has significantly impacted industrial refrigeration system market growth. Less production capabilities due to the unavailability of abundant and affordable raw materials and shortage of labors are key factors restraining industry growth. However, the silver lining for the industry comes with numerous underlying opportunities. Numerous sectors like pharmaceutical and e-commerce have been thriving during this challenging period, which in turn will accelerate industrial refrigeration system business outlook.

Apart from the food and beverage sector, refrigeration systems have gained significant prominence in chemical and petrochemical applications in recent years. Refrigeration systems are extensively used in oil refineries and chemical industries to control the heat dissipation that creates during the operations activities in chemical and oil refining plants. The ability of industrial refrigeration systems to ensure safe and reliable operation of critical processes in the petrochemical and chemical industry is likely to improve industrial refrigeration system business outlook over 2020-2026.

On the regional front, Asia Pacific is expected to offer lucrative growth opportunities to the industrial refrigeration system market. This growth can be attributed to the strong growth of the e-commerce industry and offline retail sector in nations including China, Japan, and India. The strong presence of e-commerce companies has led to increase in demand for refrigeration systems to store and process food items and beverages. Besides, supportive government initiatives toward the development of the manufacturing sector in APAC have further supported industrial system market growth over the forecast period.

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The increasing research and development initiatives by major industry participants in a bid to launch to quality products will ensure that industrial refrigeration system market share continues to soar in the years ahead. For instance, in July 2019, Ingersoll-Rand Plc. launched new compressors equipped with cutting-edge technology in market. The company introduced an air-cooled reciprocating compressor and rotary screw compressor and for industrial applications. Aided by developments like aforementioned, industrial refrigeration system industry is anticipated to depict commendable expansion.

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