At 5.9% CAGR, the Middle East & Africa Industrial Refrigeration Equipment Market is Projected to be Worth US$ 2,009.63 million by 2030, says The Business Market Insights

According to the Business Market Insights’ research, the Middle East & Africa industrial refrigeration equipment market was valued at US$ 1,269.69 million in 2022 and is expected to reach US$ 2,009.63 million by 2030, registering a CAGR of 5.9% from 2022 to 2030. Increasing demand for cold chain infrastructure and growing inclination towards eco-friendly refrigerant-based refrigeration system are among the critical factors attributed to the Middle East & Africa industrial refrigeration equipment market expansion.        

The expansion of online grocery and e-commerce delivery services is driving the need for efficient cold chain logistics. Companies such as Amazon Fresh and Instacart rely on refrigerated warehouses, delivery vans, and last-mile refrigeration solutions to ensure that products are delivered to customers in optimal condition. Hence, several companies with cold-chain logistics are increasing their capabilities.

In addition, consumers increasingly seek fresher and healthier food products, which is boosting the demand for perishable items such as fruits, vegetables, dairy, and seafood. To meet these preferences, retailers and producers invest in cold chain infrastructure to maintain product integrity. Various types of equipment are used to maintain temperature-controlled environments, from refrigerated trucks to cold storage warehouses. Thus, the demand for fresh produce and frozen goods across various regions in the food industry necessitates a robust cold chain infrastructure. Cold storage warehouses equipped with temperature control systems enable these businesses to store larger quantities of goods for longer periods, reducing wastage and meeting consumer demands.

Therefore, the demand for cold chain infrastructure is growing due to the increasing international trade of perishable goods, expanding food industry, and rising consumer expectations for fresh products, which is driving the industrial refrigeration equipment market.  

On the contrary, high initial investment hurdles the growth of Middle East & Africa industrial refrigeration equipment market. 

Based on type, the Middle East & Africa industrial refrigeration equipment market is segmented into mechanical-compression refrigeration systems, evaporative cooling, absorption, thermoelectric. The mechanical-compression refrigeration systems segment held 39.4% share of Middle East & Africa industrial refrigeration equipment market in 2022, amassing US$ 500.11 million. It is projected to garner US$ 844.56 million by 2030 to expand at 6.8% CAGR during 2022–2030.

Based on refrigerant type, the Middle East & Africa industrial refrigeration equipment market is segmented into ammonia – R717, carbon dioxide (CO2) – R744, and hydrocarbons – HCs. The ammonia – R717 segment held 66.0% share of Middle East & Africa industrial refrigeration equipment market in 2022, amassing US$ 838.48 million. It is projected to garner US$ 1,293.49 million by 2030 to expand at 5.6% CAGR during 2022–2030.  

Based on application, the Middle East & Africa industrial refrigeration equipment market is segmented into food and beverages, pharmaceutical, chemical and petrochemical, district cooling, data centres, electricity production, and others. The food and beverages segment held 36.2% share of Middle East & Africa industrial refrigeration equipment market in 2022, amassing US$ 459.24 million. It is projected to garner US$ 793.74 million by 2030 to expand at 7.1% CAGR during 2022–2030. 

Based on country, the Middle East & Africa industrial refrigeration equipment market has been categorized into Saudi Arabia, the UAE, South Africa, and the Rest of Middle East & Africa.  Our regional analysis states that Saudi Arabia captured 39.6% share of Middle East & Africa industrial refrigeration equipment market in 2022. It was assessed at US$ 502.36 million in 2022 and is likely to hit US$ 849.99 million by 2030, exhibiting a CAGR of 6.8% during 2022–2030.      

Key players operating in the Middle East & Africa industrial refrigeration equipment market are Johnson Controls International Plc, Danfoss AS, Honeywell International Inc, Evapco Inc, BITZER Kuhlmaschinenbau GmbH, and Carrier Global Corp, among others.   

• In Feb 2023, Honeywell announced that Food City has installed Honeywell’s Solstice N71 (R-471A) refrigerant in its Kodak, Tennessee, store. The solution cools the store’s beverage line-up while helping increase energy efficiency and reduce environmental impact.  
• In June 2023, Johnson Controls, the global leader for smart, healthy and sustainable buildings, introduced its new FRICK Freezer Penthouse Evaporator-Retrofit (FPHE-R) model that includes design updates on proven technology to improve ease of installation and service for contractors while maintaining product efficiency.

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