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Centralized Refrigeration Systems Market Growing At A CAGR Of 5.2% And Is Estimated To Reach $49.5 Billion By 2032
(MENAFN- EIN Presswire)
market is poised for significant expansion, driven by the increasing adoption of energy-efficient and eco-friendly solutions
Through precision, innovation, and resilience, the construction and manufacturing industries build the frameworks and tools that shape our modern world” - AMRWILMINGTON, DE, UNITED STATES, February 17, 2025 /EINPresswire / -- The centralized refrigeration market has witnessed significant growth due to the rising demand for food and beverages, Pharmaceutical products, and the modernization of refrigeration systems in developing economies. Additionally, the increasing need for eco-friendly refrigerants and rapid industrialization are key factors driving the expansion of the centralized refrigeration systems market. According to a report by Allied Market Research titled "Centralized Refrigeration Systems Market," the market was valued at $29.8 billion in 2022 and is expected to reach $49.5 billion by 2032, growing at a compound annual growth rate (CAGR) of 5.2% from 2023 to 2032. Furthermore, the market size in terms of units was 3,822,782 in 2022 and is projected to reach 4,989,771 units by 2032, with a CAGR of 2.7%.
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The demand for energy-efficient refrigeration systems has grown due to the integration of advanced technologies such as floating head pressure controls, variable-frequency drives in evaporator fans, and screw compressor VFD controls. The push toward eco-friendly solutions has also led to the adoption of natural refrigerants like ammonia, carbon dioxide, and water, reducing the reliance on conventional refrigerants that contribute to ozone depletion and global warming. However, the limited efficiency of eco-friendly refrigerants compared to traditional ones may hinder market growth during the forecast period.
The key components of centralized refrigeration systems include compressors, condensers, evaporators, and control systems. Among these, the compressors segment held the largest market share in 2022. However, the controls segment is anticipated to grow at the highest CAGR due to the rising demand for advanced control technologies that optimize refrigeration operations. Refrigeration control systems, including thermostat control, defrost control, and head pressure control, help regulate liquid refrigerant flow and maintain optimal temperature and pressure levels within refrigeration units.
In terms of refrigerant type, ammonia dominated the market in 2022 due to its widespread use in large industrial plants. However, the carbon dioxide segment is expected to register the highest CAGR in the coming years as industries seek alternatives that mitigate toxicity and flammability concerns.
The integration of IoT-enabled refrigeration solutions is creating new opportunities in the centralized refrigeration systems market, particularly in emerging economies. These solutions enable real-time monitoring and predictive maintenance of refrigeration equipment in food processing and storage facilities, ensuring efficiency and reducing operational costs.
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The market is segmented by end-user into commercial and industrial applications. The commercial segment, which includes hotels, restaurants, catering, and retail, accounted for the largest revenue share in 2022. The hospitality and food service industries rely heavily on centralized refrigeration to preserve perishable goods. The COVID-19 pandemic caused disruptions in this sector, leading to temporary closures. However, by the end of 2022, the hotel, restaurant, and catering industries had rebounded to pre-pandemic revenue levels. Changing consumer lifestyles have further fueled demand for refrigeration solutions in these sectors. For example, in May 2023, the Six Senses hotel at the Crans-Montana ski resort in Switzerland installed a transcritical CO2 (R744) booster system manufactured by Italian Enex, servicing multiple cold rooms and refrigerated cabinets.
The growth of the retail sector, particularly for perishable goods such as food and beverages, is expected to drive the centralized refrigeration market. According to Eurostat, poultry meat production in Europe increased from 10.5 million tonnes in 2010 to 13.2 million tonnes in 2021, while pig meat production grew from 21.5 million tonnes to 23.4 million tonnes during the same period. Furthermore, over 40% of food waste in the EU is attributed to inadequate refrigeration in food services and retail, highlighting the need for advanced refrigeration solutions.
Key Market Players
Johnson Controls, LU-VE S.p.A., Industrial Frigo S.R.L, Daikin Industries Ltd., GEA Group, Danfoss, Bitzer SE (Bitzer Kuhlmaschinenbau GmbH), EVAPCO, Inc., Emerson Electric Co., CARRIER GLOBAL CORPORATION
Update On Demand@
Key Findings of the Study
The condenser segment held the largest revenue share in 2022.
The ammonia refrigerant segment dominated the market in 2022.
The commercial segment accounted for the highest market share in 2022.
Asia-Pacific led the market in 2022 and is expected to witness the highest growth rate in the coming years.
The report provides an in-depth analysis of market trends, key segments, and regional opportunities from 2022 to 2032.
A comprehensive study of competitive strategies and market dynamics has been included to understand the outlook of the centralized refrigeration systems industry.
Download PDF Sample Copy@
The demand for energy-efficient refrigeration systems has grown due to the integration of advanced technologies such as floating head pressure controls, variable-frequency drives in evaporator fans, and screw compressor VFD controls. The push toward eco-friendly solutions has also led to the adoption of natural refrigerants like ammonia, carbon dioxide, and water, reducing the reliance on conventional refrigerants that contribute to ozone depletion and global warming. However, the limited efficiency of eco-friendly refrigerants compared to traditional ones may hinder market growth during the forecast period.
The key components of centralized refrigeration systems include compressors, condensers, evaporators, and control systems. Among these, the compressors segment held the largest market share in 2022. However, the controls segment is anticipated to grow at the highest CAGR due to the rising demand for advanced control technologies that optimize refrigeration operations. Refrigeration control systems, including thermostat control, defrost control, and head pressure control, help regulate liquid refrigerant flow and maintain optimal temperature and pressure levels within refrigeration units.
In terms of refrigerant type, ammonia dominated the market in 2022 due to its widespread use in large industrial plants. However, the carbon dioxide segment is expected to register the highest CAGR in the coming years as industries seek alternatives that mitigate toxicity and flammability concerns.
The integration of IoT-enabled refrigeration solutions is creating new opportunities in the centralized refrigeration systems market, particularly in emerging economies. These solutions enable real-time monitoring and predictive maintenance of refrigeration equipment in food processing and storage facilities, ensuring efficiency and reducing operational costs.
Enquire Before Buying@
The market is segmented by end-user into commercial and industrial applications. The commercial segment, which includes hotels, restaurants, catering, and retail, accounted for the largest revenue share in 2022. The hospitality and food service industries rely heavily on centralized refrigeration to preserve perishable goods. The COVID-19 pandemic caused disruptions in this sector, leading to temporary closures. However, by the end of 2022, the hotel, restaurant, and catering industries had rebounded to pre-pandemic revenue levels. Changing consumer lifestyles have further fueled demand for refrigeration solutions in these sectors. For example, in May 2023, the Six Senses hotel at the Crans-Montana ski resort in Switzerland installed a transcritical CO2 (R744) booster system manufactured by Italian Enex, servicing multiple cold rooms and refrigerated cabinets.
The growth of the retail sector, particularly for perishable goods such as food and beverages, is expected to drive the centralized refrigeration market. According to Eurostat, poultry meat production in Europe increased from 10.5 million tonnes in 2010 to 13.2 million tonnes in 2021, while pig meat production grew from 21.5 million tonnes to 23.4 million tonnes during the same period. Furthermore, over 40% of food waste in the EU is attributed to inadequate refrigeration in food services and retail, highlighting the need for advanced refrigeration solutions.
Key Market Players
Johnson Controls, LU-VE S.p.A., Industrial Frigo S.R.L, Daikin Industries Ltd., GEA Group, Danfoss, Bitzer SE (Bitzer Kuhlmaschinenbau GmbH), EVAPCO, Inc., Emerson Electric Co., CARRIER GLOBAL CORPORATION
Update On Demand@
Key Findings of the Study
The condenser segment held the largest revenue share in 2022.
The ammonia refrigerant segment dominated the market in 2022.
The commercial segment accounted for the highest market share in 2022.
Asia-Pacific led the market in 2022 and is expected to witness the highest growth rate in the coming years.
The report provides an in-depth analysis of market trends, key segments, and regional opportunities from 2022 to 2032.
A comprehensive study of competitive strategies and market dynamics has been included to understand the outlook of the centralized refrigeration systems industry.
David Correa
Allied Market Research
+ 1 800-792-5285
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