Refrigeration Coolers Market by Component Type (Evaporators and Air coolers, and Condenser), Refrigerant Type (HFC/HFO, NH3, CO2, Glycol, and Others), Application (Commercial and Industrial): Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00026756 | Pages: 100 | Industry: Chemicals and Materials | Date: Oct 2022 | Type: Global

The market crossed the US$ 4 billion mark in 2022 and is expected to hit US$ 7 billion by 2030, recording a CAGR of 5.9% during the forecast period.

The refrigeration coolers market is significantly increasing with rising use in refrigerated warehouses and cold storage 

Rising investment in refrigerated warehouses and cold storage facilities, increasing demand for frozen and processed food, and rising demand to shift to lower GWP refrigerants are some of the major factors driving the growth of the market. The evaporator and air cooler segment is expected to pace up owing to its rising demand for advanced refrigeration systems in commercial and industrial applications.  Evaporators and air coolers components are widely used in various applications, resulting in the availability of different shapes and sizes as per specific requirements. Condenser segments is also anticipated to hold a sustainable share in the market.

Within the report, the market is segmented into component type, refrigerant type, application, and geography. By component type, the market is further segmented into evaporators and air coolers, and condensers. On basis of refrigerant type, the market is segmented into HFC/HFO, NH3, CO2, glycol, and others.  By application, the market is categorized into commercial and industrial. Geographically, the market is sub-segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

Rising investment in warehouses and cold storage facilities has empowered the growth of market

Rising demand for frozen and processed food has surged the demand for warehouse and cold storage facilities. Developed and developing economies are deploying cold storage facilities to meet the growing demand of consumer. In addition, limited availability of land in metropolitan areas are encouraging cold storage companies to set up their facilities in proximity to these areas. These factors have surged the demand for refrigerated coolers during the forecast period.

Rising adoption in various commercial applications is one of the major factors accelerating the market growth.

Refrigeration coolers are most commonly uses for commercial and industrial applications. Within these industries, commercial application is one such industry, wherein the use of refrigeration coolers is increasing owing to wide range of applications from small cafes to supermarkets and refrigeration requirements from frozen to chilled produce in different areas, including hypermarkets, mini stores, convenience stores, grocery stores, hospitality centers, and small retail stores. The industrial application has also witnessed extensive use of refrigeration coolers.  

Recent strategic developments in the refrigeration coolers market

The refrigeration cooler market has undergone several significant developments, and a few of these have been mentioned below:

  • In February 2020, Emerson announced the launch of tow foodservice equipment: the Copeland Indoor Modular Solution and the Copeland Scroll Digital Outdoor Refrigeration Unit X-Line Series. This product launch was aimed to expand the refrigeration portfolio of the company

The refrigeration cooler market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Johnson Controls International plc, Lu-Ve SPA, Lennox International, Kelvion Holding GmbH, and Rivacold srl are among the prominent players operating in the market.

Target audience for the report:

  • Raw material providers
  • Refrigeration cooler related associations, organizations, forums, and alliances
  • Government bodies, such as regulating authorities and policy makers
  • Venture capitalists, private equity firms, and start-up companies
  • Application industry of refrigeration cooler industry
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the market has been segmented on the basis of:

  • Type:
    • Evaporators and Air coolers
    • Condenser
  • Refrigerant Type:
    • HFC/HFO
    • NH3
    • CO2
    • Glycol
    • Others
  • Application:
    • Commercial
    • Industrial
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
    • Johnson Controls International plc
    • Lu-Ve SPA
    • Lennox International
    • Kelvion Holding GmbH
    • Rivacold srl

The List of Companies
- Johnson Controls International plc
- Lu-Ve SPA
- Lennox International
- Kelvion Holding GmbH
- Rivacold srl

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