North America Industrial Refrigeration Equipment Market
No. of Pages: 80 | Report Code: BMIRE00029438 | Category: Electronics and Semiconductor
No. of Pages: 80 | Report Code: BMIRE00029438 | Category: Electronics and Semiconductor
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.
The North America industrial refrigeration equipment market is segmented into the US, Canada, and Mexico. In North America, various industries are using natural refrigerants with a low global warming potential, such as Opteon XL20 (R-454 C), Opteon XL40 (R-454A), and Opteon XL10 (R-1234yf). In November 2022, The Chemours Company—a global chemical company with a market-leading position in titanium technologies, thermal and specialized solutions, and advanced performance materials—announced a partnership with Bohn de Mexico, an industrial and commercial refrigeration manufacturing company with a presence in South America. As per this partnership, Bohn de Mexico will use Opteon XL20 (R-454 C), Opteon XL40 (R-454A), and Opteon XL10 (R-1234yf) for its new range of BOHN Ecoflex condensing units. These refrigerants are non-ozone depleting (ODP) and have low global warming potential (GWP)..
In the North America food & beverages sector, various companies use CO2 industrial refrigeration systems. In February 2023, Frigus Bohn de Mexico, a manufacturer of industrial refrigeration equipment and systems in Mexico, supplied a large custom combined ammonia (R717) and CO2 (R744) HVAC&R system to a food production facility in Mexico. The R744 system serves the site's cold store and its "rapid chilling tunnels" to chill food to an operating temperature of approximately -24°C (-11°F) after baking.
The North America industrial refrigeration equipment market is segmented into type, refrigerant type, application, and country.
Based on type, the North America industrial refrigeration equipment market is segmented into mechanical-compression refrigeration systems, evaporative cooling, absorption, thermoelectric. The mechanical-compression refrigeration systems segment registered the largest North America industrial refrigeration equipment market share in 2022.
Based on refrigerant type, the North America industrial refrigeration equipment market is segmented into ammonia – R717, carbon dioxide (CO2) – R744, and hydrocarbons – HCs. The ammonia – R717 segment held the largest North America industrial refrigeration equipment market share in 2022.
Based on application, the North America 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 the largest North America industrial refrigeration equipment market share in 2022.
Based on country, the North America industrial refrigeration equipment market has been categorized into the US, Canada, and Mexico. The US dominated the North America industrial refrigeration equipment market in 2022.
Johnson Controls International Plc, Danfoss AS, Honeywell International Inc, Copeland LP, Evapco Inc, BITZER Kuhlmaschinenbau GmbH, and Carrier Global Corp. are some of the leading companies operating in the industrial refrigeration equipment market in the region.
Strategic insights for the North America Industrial Refrigeration Equipment provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 5,611.33 Million |
| Market Size by 2030 | US$ 10,959.87 Million |
| Global CAGR (2022 - 2030) | 8.7% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2030 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The geographic scope of the North America Industrial Refrigeration Equipment refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The North America Industrial Refrigeration Equipment Market is valued at US$ 5,611.33 Million in 2022, it is projected to reach US$ 10,959.87 Million by 2030.
As per our report North America Industrial Refrigeration Equipment Market, the market size is valued at US$ 5,611.33 Million in 2022, projecting it to reach US$ 10,959.87 Million by 2030. This translates to a CAGR of approximately 8.7% during the forecast period.
The North America Industrial Refrigeration Equipment Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Industrial Refrigeration Equipment Market report:
The North America Industrial Refrigeration Equipment Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Industrial Refrigeration Equipment Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Industrial Refrigeration Equipment Market value chain can benefit from the information contained in a comprehensive market report.
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