Surging Food & Beverage Industry Driving Industrial Refrigeration Systems Market

The global industrial refrigeration systems market revenue stood at $26.8 billion in 2019, and it is predicted to surge to $41.1 billion by 2030. According to the estimates of the market research company, P&S Intelligence, the market will progress at a CAGR of 5.0% from 2020 to 2030 (forecast period). The market is being propelled by the growing utilization of refrigerators in the pharmaceutical and chemical industries and booming food processing and cold chain sectors across the world.

Another major industrial refrigeration systems market growth driver is soaring sales of biologic products and biotech drugs all over the world. Many logistics solutions are extensively adopted for maintaining the temperature which is necessary for maintaining the quality of these products, as they are transported from manufacturers to hospitals, clinics, pharmacies, and patients.


Hence, the growing consumption of these products in both developing and developed countries is propelling the advancement of the market. Furthermore, the expansion of petrochemical, oil refining, and chemical industries is also positively impacting the worldwide sales of industrial refrigeration systems. This is because these systems are required in these industries for dehumidifying the air, preserving compounds, and condensing gases.

Refrigeration systems are widely used by pharmaceutical organizations for the cold sterilization of biologics, medical devices, and tissue samples. Additionally, advanced refrigeration is required in the chemical industry for maintaining the temperature of raw materials and semi-finished and finished goods.

 Thus, the demand for industrial refrigeration systems will surge sharply in the forthcoming years, primarily because of the expanding food and beverage and pharmaceutical industries all over the world.

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