PORTLAND, UNITED STATES, July 20, 2023/einpresswire.com / -- According to a new report published by Allied Market Research, titled,“europe centralized refrigeration system Market by Component, Refrigerant, End User, And Region: Opportunity Analysis and Industry Forecast, 2023–2032,”

The Europe centralized refrigeration systems market size was valued at $7.9 billion in 2022, and is expected to reach $12.7 billion by 2032, registering a CAGR of 4.8% from 2023 to 2032.

Download PDF Sample:

The need for energy-efficient refrigeration systems has grown in recent years as more systems are outfitted with floating head pressure controls, variable-frequency drives in evaporator fans, screw compressor VFD controls, and other energy-saving features. To combat environmental effects like ozone depletion and global warming, numerous sectors use natural refrigerants, including ammonia, carbon dioxide, water, and others. This has spurred the demand for eco-friendly refrigerants. Moreover, the availability of eco-friendly and natural refrigerants has further restricted the scope for adoption of other refrigerants with higher efficiencies. Subsequently, this is expected to negatively influence the market growth in the forecast period.

Furthermore, commonly used components for the refrigeration system are compressor, condenser, evaporator, control, and others. Among these, the compressors segment accounted for a higher market share in 2022. However, the controls segment is expected to grow with a higher CAGR during the forecast period, owing to growing demand for technologically advanced control systems. Furthermore, centralized refrigeration systems comprise various components such as compressors, condensers, and evaporators, which are connected via a pipe and tubing for allowing the refrigerant to pass through them. Refrigeration control systems, such as thermostat control, defrost control, and head pressure control are used to control the flow of liquid refrigerant and optimize the temperature & pressure within the refrigeration system. Moreover, other centralized refrigeration components, include valves, refrigerant tanks, doors, pumps, pipes, tubes, and OEM equipment.

Buy This Report:

In addition, a variety of refrigerants are used in refrigeration systems including ammonia, carbon dioxide, F gases, and others. Among these, the ammonia segment accounted for a higher market share in 2022, owing to the increased demand for natural refrigerants in large industrial plants. However, the carbon dioxide segment is expected to grow with a higher CAGR during the forecast period, as various industries prefer using carbon dioxide as a refrigerant where toxicity or flammability is a key concern.

Moreover, the use of IoT-enabled refrigeration solutions has gained prominence for monitoring equipment in processing and storage industries. This can provide lucrative growth opportunities to the players in the Europe centralized refrigeration systems market in emerging countries during the forecast period.

Furthermore, based on end-users of centralized refrigeration systems, the market is divided into commercial (hotel, restaurant, catering, and retail) and industrial (refrigerated warehouse, food processing, healthcare, and others). Out of these, the commercial segment accounted for a larger market share in terms of revenue in 2022, owing to the large-scale utilization of centralized refrigeration systems in places such as hotels, restaurants, catering, and retail stores.

Moreover, Europe centralized refrigeration systems market is segmented into components, refrigerant, end-user industry, and region. By component, it is segregated into compressor, condenser, evaporator, control, and others. Depending on the refrigerant, it is classified into ammonia, carbon dioxide, F-gases, and others. Based on end-user industry, the market is divided into commercial (hotel, restaurant, catering, and retail) and industrial (refrigerated warehouse, food processing, healthcare, and others).

However, various businesses in the Europe centralized refrigeration systems market had to stop their businesses in in the region during the pandemic. This break directly impacted the centralized refrigeration systems industry. In addition, the lack of manpower and constricted supply of raw materials negatively influenced the growth of the Europe centralized refrigeration systems market. However, owing to the introduction of vaccination, the severity of the pandemic significantly reduced and key players in the market recovered rapidly. Moreover, the quantitative easing of the economy done during COVID-19 by many countries across the globe led to inflation, which had a negative impact on the growth of all industrial sectors including the Europe centralized refrigeration systems market.

Inquire Before Buying:

Key findings of the study

The report provides an extensive analysis of the current and emerging Europe centralized refrigeration system market trends and dynamics.

Depending on the component, the compressor segment dominated the Europe centralized refrigeration system market, in terms of revenue in 2022. However, the controls segment is expected to grow with a higher CAGR.

Depending on the refrigerant, the ammonia segment dominated the Europe centralized refrigeration system market, in terms of revenue in 2022. On the other hand, the carbon dioxide segment is expected to grow with a higher CAGR.

By end user, the commercial segment accounted for the highest revenue share in 2022. However, the industrial segment is expected to grow with a higher CAGR.

LAMEA dominated the market in 2022 and is projected to register the highest growth rate in the coming years.

The key players within the Europe centralized refrigeration system market are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the Europe centralized refrigeration system industry.

The report provides an extensive analysis of the current trends and emerging opportunities in the market.

In-depth Europe centralized refrigeration system market analysis is conducted by constructing estimations for the key segments between 2023 and 2032.

David Correa
Allied Analytics LLP
+ 1 800-792-5285
email us here

MENAFN20072023003118003196ID1106635324