Though the refrigeration coolers market growth was disrupted to a certain extent by COVID-19 in the last couple of years, the manufacturing sector is expected to pick up the pace gradually in the coming months. The refrigeration coolers market is predicted to move forward at a moderate pace with a CAGR of 5.6% from 2023 to 2033, following the refrigeration coolers market analysis by Future Market Insights (FMI).
The refrigeration coolers market is anticipated to garner a revenue of about US$ 5 Billion by 2027, with the factors mentioned above holding sway over the market.
Customized walk-in refrigerator installation has grown in popularity in recent years, emphasizing the importance of efficient refrigeration in commercial applications. The use of safety equipment is required when working with ammonia-based refrigeration systems.
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Ammonia, when combined with certain hydrocarbons, is a flammable and corrosive refrigerant that has been shown to be lethal when inhaled. As a result, the demand for refrigeration coolers is reduced.
In the wake of the COVID-19 pandemic, increased demand for online grocery shopping and frozen food has prompted e-commerce companies to invest in refrigerated warehouses and cold storage, thereby facilitating the adoption of refrigeration coolers.
Key Takeaways From the Refrigeration Coolers Market Study:
- Based on product type, medical refrigeration is likely to gain traction, thereby influencing the emerging trends in the refrigeration coolers market trends, given the rising graph of commercial refrigerators for sale in hospitals and other medical facilities, particularly in emerging economies.
- By application, the refrigeration coolers market is projected to be dominated by commercial applications owing to its wide array of applications. These coolers are helpful concerning commercial fridges, such as beverage fridges
- By refrigerant type, ammonia is expected to lead the industrial refrigeration market as it is a common refrigerant in industrial refrigeration systems around the world and meets the low-GWP standard.
- As per the refrigeration coolers market outlook, the supermarket segment is estimated to account for the largest share of the global refrigeration market by end-use.
- The refrigerator coolers market is forecasted to reach US$ 3.6 Billion by mid-2022.
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“The refrigerated cooler market in Asia-Pacific is expected to grow at the fastest rate where A.P.A.C. includes countries like China, India, and Japan, which are global leaders in terms of refrigerated warehouse capacity, and global market players are seeing strong demand from countries like China, India, Japan, and South Korea, where a high demand for food primarily drives population growth, and in turn broadening the refrigeration coolers market opportunities.” says an F.M.I. researcher.
Competitive Landscape:
Key Companies Profiled:
- Johnson Controls International plc. (Ireland)
- Lu-Ve SPA (Italy)
- Lennox International (United States)
- Kelvion Holding GmbH (Germany)
- Rivacold SRL (Italy)
- H. Güntner Limited (Italy)
- Refrion SRL (Italy)
- Evapco, Inc. (United States)
- Stefani SPA (Italy)
- Onda SPA (Italy)
- Emerson Electric Co (United States)
- Roen Est. Group (Italy)
- KFL SRL (Italy)
- Walter Roller (Germany)
- CABERO (Germany)
- Thermofin (Canada)
- Thermokey SPA (Italy)
- Koxka (Spain)
- Modine Manufacturing Co. (United States)
- Centauro International (Portugal)
- Daikin Industries, Ltd (Japan)
- Friterm A S (Turkey)
- Carrier and Danfoss A/S (Denmark)
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Key Segments Covered by Refrigeration Coolers Industry Survey Report
By Product Type:
- Deep Freezers
- Bottle Coolers
- Display Showcases
- Storage Water Coolers
- Commercial Kitchen Refrigeration
- Transportation Refrigeration Equipment
- Ice Merchandisers & Ice Vending Equipment
- Medical Refrigeration
- Chest Refrigeration
- Other Product Types
By Application:
- Commercial Refrigeration
- Food & Beverage Distribution and Retail Stores
- Convenience Stores and Mini Markets
- Supermarket and Hypermarkets
- Hospitals and Drug Stores
- Other Retail Stores
- Industrial Refrigeration
- Refrigerated Warehouses
- Fruit & Vegetable Processing
- Beverage Processing
- Dairy & Ice-cream Processing
- Meat, Poultry, & Fish Processing
- Other Special Applications
By Component Type:
- Evaporators & Air Coolers
- Air Units
- Dry Coolers
- Brine Coolers
- Blast or Tunnel Unit coolers
- Condensers
- Evaporative Condensers
- Air-Cooled & Water-cooled Condensers
By System Type:
- Self-contained Refrigerator
- Remotely Operated Refrigerator
By Capacity:
- Less than 50 cu. Ft
- 50 cu. Ft to 100 cu. Ft
- More than 100 cu. Ft
By Refrigeration Coolant Type:
- Hydro Fluorocarbon (HFC) or Hydro Fluoroolefin (HFO)
- Ammonia (NH3) Refrigerant
- Carbon Dioxide (CO2) Refrigerant
- Glycol Refrigerant
- Other Coolants or Refrigerants
By Regional Markets:
- North America
- Europe
- Latin America
- East Asia
- South Asia & Pacific
- The Middle East and Africa
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Refrigeration Coolers Market:
About Future Market Insights (FMI)
Future Market Insights (ESOMAR-certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
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