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Industrial refrigeration is extensively used for an array of industrial applications, ranging from ice making to pharmaceutical, supply chain to food processing, and others. Industrial refrigeration stereotypically plays an important role among various manufacturing facilities in the chemicals, and oil & gas industry. The industrial refrigeration system is an efficient combination of different electrical and mechanical components including compressors, heat exchangers, evaporators, racks and others. The component used for the industrial refrigeration system may be in distinct parts from more than one manufacturer. The parts such as compressor, heat exchangers, and evaporator unit are assembled under a custom engineered system by the installation service providers. The industrial refrigeration systems are assembly of large sized refrigeration equipment that has been tested under design operating condition. However, the overall practical efficiency of the industrial refrigeration may vary from the estimated theoretical value, owing to the eccentricity between the on-site operating conditions to that of test conditions.

The energy efficiency of industrial refrigeration has improved considerably, during the last five years. The innovation in product design of the industrial compressors, in addition to improvement in overall energy consumption rating, has facilitated the introduction of innovative industrial refrigeration products. Apart from superior energy efficiency, modern industrial refrigeration products also feature better temperature stability under harsh working conditions.

Unlike the western countries, the Hydrofluorocarbons (HFCs) refrigerant regulation was not so stiff in the developing countries of Asia-Pacific. In the VI BRICS summit 2014, all the five nations agreed to India’s proposal of not accepting Montreal Protocol for HFCs, unless other cost-effective alternative technologies are provided by the developed countries to them. However, due to increasing international pressure to phase out HFCs in November 2014, India and China agreed for the planned phase out of the HFCs under Montreal Protocol. The joint statement issued by the governments of these two countries with the U.S. government shows an open-ended support to consider all issues regarding the phase-out of HFCs. The phase-out of HFCs in these countries is expected to lay new growth opportunities for the Industrial refrigeration market during the forecast period.

According to examined business-as-usual (BAU) scenario, the HFC emissions in China for 2013-2050 are likely to be 609 Gg. As of now, China's yearly HFC emissions are considerably higher than the other countries. China’s State Council reduced HFC consumption by 280 million tons, by the end of 2015. These developments are expected to boost the adoption of natural refrigerants based industrial refrigeration products in coming years, owing to the replacement of HFC-based refrigeration application in small industries.

The concern over ozone layer depletion has been taken up very seriously by the governments worldwide. Globally, the government has adopted stringent regulations towards the use of fluorochemicals, as a refrigerant. The technology has changed in recent years from ‘F’ gas to natural refrigerant. The developed countries of Europe and North America are using ammonia, as an industrial refrigerant from a long time. However, the small and medium-sized refrigerated warehouses and food processing industries in the developing countries of Asia-Pacific have started following F-gas regulations recently, due to increasing international pressure for the adoption of Montreal Protocol.

In 2014, the government of China announced the closure of five ‘F’ gases production plants, in order to phase-out of 58,864 tons of HCFC production by 2020. The Phase-out of ‘F’ gases, as a refrigerant for industrial refrigeration in developing countries, is expected to drive the replacement of existing industrial refrigeration setup, with ammonia-based refrigeration system. This in turn is expected to drive the growth of the global industrial refrigeration market.

The technological advancement in industrial refrigeration has led to superior energy efficiency. Atlas Copco is an industrial compressor manufacturer, which launched GA VSD+, a range of oil-injected and compact rotary screw compressors that consume 50% less power, as compared to a conventional load type compressor of the same capacity. The reduction in thermal resistance of the heat exchangers are increasing the throughput and power efficiency of industrial heat exchangers in the chemicals, and energy sector.

Asia-Pacific was the largest industrial refrigeration market in 2015 and it is expected to maintain its dominance during the forecast period. The major companies operating in the global industrial refrigeration market include Industrial Frigo S.R.L., GEA Group Aktiengesellschaft, Emerson Electric Company, BITZER Kuhlmaschinenbau GmbH, Danfoss A/S, United Technologies Corporation, Star Refrigeration Ltd., Hussman Corporation, Dover Corporation, and Johnson Controls Inc.

Table Of Contents

Global Industrial Refrigeration Market Size, Share, Development, Growth and Demand Forecast to 2022 - Industry Insights by Type
Chapter 1. Introduction

1.1 Market Definition

1.2 Market Scope

1.2.1 Global industrial refrigeration market breakdown by type

1.2.2 Global industrial refrigeration market breakdown by geography

1.3 Research Methodology and Sources

Chapter 2. Executive Summary

2.1 Key Findings

2.2 Research Summary

Chapter 3. Market Outlook

3.1 Introduction

3.2 Opportunities in the Market

3.2.1 Consensus of HFC refrigeration reductions under Montreal Protocol by India and China

3.3 Trends in the Market

3.3.1 Adoption of variable refrigerant flow systems

3.4 Factors Driving Growth of the Market and its Impact on Market Forecast

3.4.1 Increasing adoption of natural refrigerant and improvement in energy efficiency

3.4.2 Growth of food processing industry in developing countries

3.4.3 Growth in the global cold chain capacity

3.4.4 Impact analysis of drivers on market forecast

3.5 Factor Hindering Growth of the Market and its Impact on Market Forecast

3.5.1 Fragmented supply chain of food and beverages processing industries in developing countries

3.5.2 Impact analysis of restraint on market forecast

Chapter 4. Global Industrial Refrigeration Market Size and Forecast(2012-2022)

4.1 Global Industrial Refrigeration Market Breakdown by Geography

4.2 Global Industrial Refrigeration Market Breakdown by Type

4.2.1 Global industrial rack market breakdown by technology

4.2.2 Global industrial compressor market breakdown by technology

4.2.3 Global industrial heat exchanger market breakdown by technology

Chapter 5. Global Industrial Refrigeration Market Breakdown by Type

5.1 Industrial Evaporator Unit Market

5.2 Industrial Rack Market

5.2.1 Open reciprocating industrial rack market

5.2.2 Open screw industrial rack market

5.3 Industrial Compressor Market

5.3.1 Open reciprocating industrial compressor market

5.3.2 Screw open industrial compressor market

5.4 Industrial Heat Exchanger Market

5.4.1 Industrial brazed plate heat exchanger market

5.4.2 Shell and tube/coaxial heat exchanger market

5.5 Other Industrial Refrigeration Unit Market

Chapter 6. Global Industrial Refrigeration Market Breakdown by Geography

6.1 North America Industrial Refrigeration Market

6.2 Europe Industrial Refrigeration Market

6.3 Asia-Pacific Industrial Refrigeration Market

6.4 Rest of the World (RoW) Industrial Refrigeration Market

Chapter 7. Competitive Analysis

7.1 Porter's Five Forces of Competitive Position Analysis

7.1.1 Bargaining power of buyers

7.1.2 Bargaining power of suppliers

7.1.3 Threat of new entrants

7.1.4 Intensity of rivalry

7.1.5 Threat of substitutes

7.2 Competitive Positioning of Key Competitors

Chapter 8. Key Company Profiles and Strategic Developments

8.1 Key Company Profiles

8.1.1 Industrial Frigo S.R.L

8.1.1.1 Business overview

8.1.1.2 Products and services

8.1.2 GEA Group Aktiengesellschaft

8.1.2.1 Business overview

8.1.2.2 Products and services

8.1.3 Emerson Electric Co.

8.1.3.1 Business overview

8.1.3.2 Products and services

8.1.4 BITZER Kühlmaschinenbau GmbH

8.1.4.1 Business overview

8.1.4.2 Products and services

8.1.5 Danfoss A/S

8.1.5.1 Business overview

8.1.5.2 Products and services

8.1.6 United Technologies Corporation

8.1.6.1 Business overview

8.1.6.2 Products and services

8.1.7 Star Refrigeration Ltd.

8.1.7.1 Business overview

8.1.7.2 Products and services

8.1.8 Hussmann Corporation

8.1.8.1 Business overview

8.1.8.2 Products and services

8.1.9 Dover Corporation

8.1.9.1 Business overview

8.1.9.2 Products and services

8.1.10 Johnson Controls Inc.

8.1.10.1 Business overview

8.1.10.2 Products and services

8.2 Strategic Developments in the Global Industrial Refrigeration Market

8.2.1 Product launches and innovations

8.2.2 Partnerships

8.2.3 Merger and acquisition

8.2.4 Client wins

8.2.5 Others

Chapter 9. Appendix

9.1 List of Abbreviations





LIST OF TABLES

TABLE 1 MARKET DEFINITION FOR INDUSTRIAL REFRIGERATION

TABLE 2 SPECIFIC PRIMARY AND SECONDARY SOURCES USED FOR THIS PUBLICATION

TABLE 3 GLOBAL INDUSTRIAL REFRIGERATION MARKET SNAPSHOT

TABLE 4 COOLING CAPACITY ANALYSIS OF VRF HEAT PUMPS AND VCS HEAT PUMPS

TABLE 5 DRIVERS FOR THE MARKET: IMPACT ANALYSIS

TABLE 6 PER CAPITA FOOD WASTE AND LOSSES AT PRECONCEPTION STAGES BY REGION (2014)

TABLE 7 RESTRAINT FOR THE MARKET: IMPACT ANALYSIS

TABLE 8 GLOBAL INDUSTRIAL REFRIGERATION MARKET BREAKDOWN BY GEOGRAPHY, $M (2012 - 2015)

TABLE 9 GLOBAL INDUSTRIAL REFRIGERATION MARKET BREAKDOWN BY GEOGRAPHY, $M (2016 - 2022)

TABLE 10 GLOBAL INDUSTRIAL REFRIGERATION MARKET BREAKDOWN BY TYPE, $M (2012 - 2015)

TABLE 11 GLOBAL INDUSTRIAL REFRIGERATION MARKET BREAKDOWN BY TYPE, $M (2016 - 2022)

TABLE 12 GLOBAL INDUSTRIAL RACK MARKET BREAKDOWN BY TECHNOLOGY, $M (2012 - 2015)

TABLE 13 GLOBAL INDUSTRIAL RACK MARKET BREAKDOWN BY TECHNOLOGY, $M (2016 - 2022)

TABLE 14 GLOBAL INDUSTRIAL COMPRESSOR MARKET BREAKDOWN BY TECHNOLOGY, $M (2012 - 2015)

TABLE 15 GLOBAL INDUSTRIAL COMPRESSOR MARKET BREAKDOWN BY TECHNOLOGY, $M (2016 - 2022)

TABLE 16 GLOBAL INDUSTRIAL HEAT EXCHANGER MARKET BREAKDOWN BY TECHNOLOGY, $M (2012- 2015)

TABLE 17 GLOBAL INDUSTRIAL HEAT EXCHANGER MARKET BREAKDOWN BY TECHNOLOGY, $M (2016 - 2022)

TABLE 18 GLOBAL INDUSTRIAL EVAPORATOR UNIT MARKET BREAKDOWN BY GEOGRAPHY, $M(2012 - 2015)

TABLE 19 GLOBAL INDUSTRIAL EVAPORATOR UNIT MARKET BREAKDOWN BY GEOGRAPHY, $M(2016 - 2022)

TABLE 20 GLOBAL INDUSTRIAL RACK MARKET BREAKDOWN BY GEOGRAPHY, $M (2012 - 2015)

TABLE 21 GLOBAL INDUSTRIAL RACK MARKET BREAKDOWN BY GEOGRAPHY, $M (2016- 2022)

TABLE 22 GLOBAL OPEN RECIPROCATINGINDUSTRIAL RACK MARKET BREAKDOWN BY GEOGRAPHY, $M (2012 - 2015)

TABLE 23 GLOBAL OPEN RECIPROCATING INDUSTRIAL RACK MARKET BREAKDOWN BY GEOGRAPHY, $M (2016 - 2022)

TABLE 24 GLOBAL OPEN SCREW INDUSTRIAL RACK MARKET BREAKDOWN BY GEOGRAPHY, $M (2012- 2015)

TABLE 25 GLOBAL OPEN SCREW INDUSTRIAL RACK MARKET BREAKDOWN BY GEOGRAPHY, $M (2016 - 2022)

TABLE 26 GLOBAL INDUSTRIAL COMPRESSOR MARKET BREAKDOWN BY GEOGRAPHY, $M (2012 - 2015)

TABLE 27 GLOBAL INDUSTRIAL COMPRESSOR MARKET BREAKDOWN BY GEOGRAPHY, $M (2016 - 2022)

TABLE 28 GLOBAL OPEN RECIPROCATING INDUSTRIAL COMPRESSOR MARKET BREAKDOWN BY GEOGRAPHY, $M (2012 - 2015)

TABLE 29 GLOBAL OPEN RECIPROCATING INDUSTRIAL COMPRESSOR MARKET BREAKDOWN BY GEOGRAPHY, $M (2016 - 2022)

TABLE 30 GLOBAL SCREW OPEN INDUSTRIAL COMPRESSOR MARKET BREAKDOWN BY GEOGRAPHY, $M (2012 - 2015)

TABLE 31 GLOBAL SCREW OPEN INDUSTRIAL COMPRESSOR MARKET BREAKDOWN BY GEOGRAPHY, $M (2016 - 2022)

TABLE 32 GLOBAL INDUSTRIAL HEAT EXCHANGER MARKET BREAKDOWN BY GEOGRAPHY, $M (2012 - 2015)

TABLE 33 GLOBAL INDUSTRIAL HEAT EXCHANGER MARKET BREAKDOWN BY GEOGRAPHY, $M (2016 - 2022)

TABLE 34 GLOBAL INDUSTRIAL BRAZEDPLATE HEAT EXCHANGER MARKET BREAKDOWN BY GEOGRAPHY, $M (2012 - 2015)

TABLE 35 GLOBAL INDUSTRIAL BRAZED PLATE HEAT EXCHANGER MARKET BREAKDOWN BY GEOGRAPHY, $M (2016 - 2022)

TABLE 36 GLOBAL INDUSTRIAL SHELL and TUBE/COAXIAL HEAT EXCHANGER MARKET BREAKDOWN BY GEOGRAPHY, $M (2012 - 2015)

TABLE 37 GLOBAL INDUSTRIAL SHELL and TUBE/COAXIAL HEAT EXCHANGER MARKET BREAKDOWN BY GEOGRAPHY, $M (2016 - 2022)

TABLE 38 GLOBAL OTHER INDUSTRIAL REFRIGERATION UNIT MARKET BREAKDOWN BY GEOGRAPHY, $M (2012 - 2015)

TABLE 39 GLOBAL OTHER INDUSTRIAL REFRIGERATION UNIT MARKET BREAKDOWN BY GEOGRAPHY, $M (2016 - 2022)

TABLE 40 NORTH AMERICA INDUSTRIAL REFRIGERATION MARKET BREAKDOWN BY COUNTRY, $M(2012- 2015)

TABLE 41 NORTH AMERICA INDUSTRIAL REFRIGERATION MARKET BREAKDOWN BY COUNTRY, $M (2016 - 2022)

TABLE 42 EUROPE INDUSTRIAL REFRIGERATION MARKET BREAKDOWN BY COUNTRY, $M (2012 - 2015)

TABLE 43 EUROPE INDUSTRIAL REFRIGERATION MARKET BREAKDOWN BY COUNTRY, $M (2016 - 2022)

TABLE 44 ASIA-PACIFIC INDUSTRIAL REFRIGERATION MARKET BREAKDOWN BY COUNTRY, $M (2012 - 2015)

TABLE 45 ASIA-PACIFIC INDUSTRIAL REFRIGERATION MARKET BREAKDOWN BY COUNTRY, $M (2016 - 2022)

TABLE 46 REST OF THE WORLD INDUSTRIAL REFRIGERATION MARKET BREAKDOWN BY COUNTRY, $M (2012 - 2015)

TABLE 47 REST OF THE WORLD INDUSTRIAL REFRIGERATION MARKET BREAKDOWN BY COUNTRY, $M (2016 - 2022)

TABLE 48 INDUSTRIAL FRIGO S.R.L. - KEY FACTS

TABLE 49 PRODUCT CATALOGUE OF INDUSTRIAL FRIGO S.R.L.

TABLE 50 GEA GROUP AKTIENGESELLSCHAFT - KEY FACTS

TABLE 51 EMERSON ELECTRIC - KEY FACTS

TABLE 52 BITZER KÃœHLMASCHINENBAU GMBH - KEY FACTS

TABLE 53 DANFOSSA/S- KEY FACTS

TABLE 54 UNITED TECHNOLOGIES CORPORATION - KEY FACTS

TABLE 55 STAR REFRIGERATION LTD. - KEY FACTS

TABLE 56 PRODUCTS CATEGORY OF STAR REFRIGERATION LTD.

TABLE 57 HUSSMANN CORPORATION- KEY FACTS

TABLE 58 DOVER CORPORATION- KEY FACTS 87

TABLE 59 PRODUCT CATEGORY OF DOVER CORPORATION

TABLE 60 JOHNSON CONTROLS, INC. - KEY FACTS



LIST OF FIGURES

FIG 1 RESEARCH SCOPE OF THE GLOBAL INDUSTRIAL REFRIGERATION MARKET

FIG 2 RESEARCH METHODOLOGY

FIG 3 VALUE CHAIN ANALYSIS OF INDUSTRIAL REFRIGERATION MARKET

FIG 4 REFRIGERATED WAREHOUSE CAPACITY OF SELECTED COUNTRIES (2010 AND 2014)

FIG 5 GLOBAL INDUSTRIAL REFRIGERATION MARKET SIZEBY GEOGRAPHY,$M (2012 - 2022)

FIG 6 GLOBAL INDUSTRIAL REFRIGERATION MARKET SIZE BY TYPE, $M(2012 - 2022)

FIG 7 GLOBAL INDUSTRIAL RACK MARKET SIZE BY TECHNOLOGY, $M(2012 - 2022)

FIG 8 GLOBAL INDUSTRIAL COMPRESSOR MARKET SIZE BY TECHNOLOGY, $M(2012 - 2022)

FIG 9 GLOBAL INDUSTRIAL HEAT EXCHANGER MARKET SIZE BY TECHNOLOGY,$M (2012 - 2022)

FIG 10 GLOBAL INDUSTRIAL EVAPORATOR UNIT MARKET SHARE BY GEOGRAPHY (2015 AND 2022)

FIG 11 GLOBAL INDUSTRIAL RACK MARKET SHARE BY GEOGRAPHY (2015 AND 2022)

FIG 12 GLOBAL OPEN RECIPROCATING INDUSTRIAL RACK MARKET SHARE BY GEOGRAPHY (2015 AND 2022)

FIG 13 GLOBAL OPEN SCREW INDUSTRIAL RACK MARKET SHARE BY GEOGRAPHY (2015 AND 2022)

FIG 14 GLOBAL INDUSTRIAL COMPRESSOR MARKET SHARE BY GEOGRAPHY (2015 AND 2022)

FIG 15 GLOBAL OPEN RECIPROCATING INDUSTRIAL COMPRESSOR MARKET SHARE BY GEOGRAPHY (2015 AND 2022)

FIG 16 GLOBAL SCREW OPEN INDUSTRIAL COMPRESSOR MARKET SHARE BY GEOGRAPHY (2015 AND 2022)

FIG 17 GLOBAL INDUSTRIAL HEAT EXCHANGER MARKET SHARE BY GEOGRAPHY (2015 AND 2022)

FIG 18 GLOBAL INDUSTRIAL BRAZED PLATE HEAT EXCHANGER MARKET SHARE BY GEOGRAPHY (2015 AND 2022)

FIG 19 GLOBAL INDUSTRIAL SHELL and TUBE/COAXIAL HEAT EXCHANGER MARKET SHARE BY GEOGRAPHY (2015 AND 2022)

FIG 20 GLOBAL OTHER INDUSTRIAL REFRIGERATION UNIT MARKET SHARE BY GEOGRAPHY (2015 AND 2022)

FIG 21 GLOBAL INDUSTRIAL REFRIGERATION MARKET , BY COUNTRY (2022)

FIG 22 NORTH AMERICA INDUSTRIAL REFRIGERATION MARKET SIZEBY COUNTRY, $M (2012 -2022)

FIG 23 EUROPE INDUSTRIAL REFRIGERATION MARKET SIZE BY COUNTRY, $M (2012 - 2022)

FIG 24 ASIA-PACIFIC INDUSTRIAL REFRIGERATION MARKET SIZE BY COUNTRY,$M(2012 - 2022)

FIG 25 REST OF THE WORLD INDUSTRIAL REFRIGERATION MARKET SIZE BY COUNTRY, $M (2012 - 2022)

FIG 26 PORTER'S FIVE FORCES OF COMPETITIVE POSITION ANALYSIS

FIG 27 MARKET PRESENCE OF KEY INDUSTRIAL REFRIGERATION PLAYERS (2015)

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