Industrial Refrigeration Systems Market strengthened by automation

The global industrial refrigeration systems market size was estimated at USD 21.32 billion in 2024 and is projected to reach USD 28.11 billion by 2030, registering a CAGR of 4.8% from 2025 to 2030. The market continues to experience solid growth, primarily driven by the rising demand for cold storage infrastructure across food & beverage, pharmaceuticals, and chemical industries.

Key Market Trends & Insights

  • The Asia Pacific region dominated the market with a 32.62% revenue share in 2024.
  • By component, the compressors segment accounted for nearly 23% market share in 2024.
  • By capacity, the 500kW–1000kW segment held the highest share in 2024.
  • By refrigerant, the HCFC segment led the market in 2024.
  • By application, the food & beverage industry captured the largest market share in 2024.

Market Size & Forecast

  • 2024 Market Size: USD 21.32 Billion
  • 2030 Projected Market Size: USD 28.11 Billion
  • CAGR (2025–2030): 4.8%
  • Asia Pacific: Largest market in 2024

The growing need for safe and efficient storage and transportation of perishable goods continues to be a major growth driver. Expanding global food supply chains and strict regulations related to food safety and energy efficiency are pushing industries to adopt modern refrigeration systems. The increasing use of IoT and automation enhances energy efficiency, supports predictive maintenance, and lowers operating costs. Moreover, a shift toward natural refrigerants like CO₂ and ammonia—driven by environmental and regulatory considerations—is influencing industry dynamics. The rapid growth of e-commerce and online grocery platforms is further accelerating demand for large-scale refrigerated warehouses. With strong emphasis on digitalization, sustainability, and energy optimization, the industrial refrigeration systems market is set for stable long-term growth.

The industry is also rapidly integrating IoT-enabled solutions and smart monitoring systems to improve operational efficiency. Modern refrigeration systems now incorporate AI-based analytics, real-time temperature control, and automated maintenance features. Cloud-based insights are enabling companies to achieve higher system uptime and reduce energy consumption. Remote monitoring has become a critical capability for large cold storage facilities, logistics providers, and food processing plants. As industries continue transitioning toward digital ecosystems, IoT-driven refrigeration systems are becoming a standard across industrial operations.

Order a free sample PDF of the Industrial Refrigeration Systems Market Intelligence Study, published by Grand View Research.

Key Industrial Refrigeration Systems Company Insights

A leading player offering advanced cooling solutions across healthcare, retail, and data center applications. The company prioritizes smart, IoT-enabled refrigeration systems and is expanding its portfolio of low-GWP refrigerants to support global sustainability initiatives.

Widely recognized for its Copeland compressors and automation expertise, Emerson integrates AI and IoT to enhance refrigeration efficiency and reduce costs. The company is actively developing environmentally friendly cooling systems using CO₂ and low-GWP refrigerants, reinforcing its strong global footprint.

An emerging company focused on energy-efficient evaporative, hybrid, and dry cooling technologies. EVAPCO’s investment in natural refrigerants and sustainable solutions positions it as a rising competitor with strong innovation capabilities.

A fast-growing provider of high-performance heat exchangers and cooling solutions. With a strong emphasis on digitalization and eco-friendly refrigerants such as CO₂ and ammonia, Guntner continues to expand its global presence through advanced and customizable technologies.

Key Industrial Refrigeration Systems Companies

  • Johnson Controls
  • Emerson Electric Co.
  • Danfoss
  • GEA Group Aktiengesellschaft
  • MAYEKAWA MFG Co. Ltd.
  • BITZER Kuhlmaschinenbau GmbH
  • DAIKIN Industries Ltd.
  • EVAPCO Inc.
  • Guntner GmbH & Co. KG
  • LU-VE S.p.A

Conclusion

The industrial refrigeration systems market is progressing steadily, propelled by the growing need for efficient cold storage across multiple industries, advancements in IoT and automation, and the global shift toward sustainable refrigerants. With rising emphasis on energy efficiency and digital transformation, the market is expected to maintain its upward trajectory, offering significant opportunities for innovation, modernization, and capacity expansion.

Explore Horizon Databook – The world’s most expansive market intelligence platform developed by Grand View Research.

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