The Industrial Refrigeration System market will grow at a CAGR of 11.17% from USD 25.194 billion in 2025 to USD 42.773 billion in 2030.
Industrial refrigeration systems are a crucial component in multiple industries, which are needed to maintain a certain temperature of multiple products and supplies that are traded on a global level. The systems comprise a combination of different equipment and accessories that enable the removal of heat from large-scale processes, thereby lowering the temperature to the desired level.
The increasing output of different processing industries and end users is anticipated to boost the market size of the industrial refrigeration systems market. For example, the growing global food processing industry, including dairy, fruit, and vegetable processing, is highly anticipated to boost the market demand and growth for industrial refrigeration in the coming years. Similarly, the Food Processing Machinery Market is expected to grow from USD 77.796 billion in 2025 to USD 101.715 billion in 2030, at a CAGR of 5.51%, a growth trend that significantly impacts the beverage market, where increased production of both alcoholic and non-alcoholic drinks also requires sophisticated refrigeration for preservation and quality control.
As reported by Grant Thornton, the food processing sector in India is increasing at a rapid rate, with the total market growing at a compound annual growth rate of 8% between 2017 and 2022. In another instance, as reported by the European Federation of Pharmaceutical Industries and Associations (EFPIA), the total production output of pharmaceuticals in the European Union increased from EUR 286.697 billion in 2020 to approximately EUR 300.000 billion by 2021. The increasing manufacturing in pharmaceuticals is directly anticipated to push the market demand and growth for industrial refrigeration systems on a global scale.
The increase in the application of industrial refrigeration in various industries drives the growth of the global refrigeration market and is expected to increase at a significant rate during the forecasted period. The global industrial refrigeration system market is projected to grow at a moderate rate. The industry is expected to be affected by changing technological, environmental, and governmental regulations, which are anticipated to challenge market growth as well.
In addition, the increasing technological advancements and market developments include product launches, collaborations, agreements, acquisitions, and other related factors. The market is poised to be dependent on certain industries, including logistics, food processing, chemicals, and pharmaceuticals. Regulations associated with the end-user verticals are also expected to affect the market trajectory. However, with projections of healthy growth rates of different end-user industries, the market is expected to rise steadily.
The Asia Pacific region is anticipated to grow at a significant rate in the forecast period, owing to the rising industrial footprint and investments, leading to an rise in industrial activities in the same region. Europe and North American regions are also expected to have subsequent market shares owing to the significant industrial output generated from both. Due to the significant increase in demand for optimized manufacturing, consumer goods companies are under pressure the produce improved technologies and machinery. This drives the growth of the industrial refrigeration market during the forecast period.
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Report Metric | Details |
| Market Size Value in 2025 | US$25.194 billion |
| Market Size Value in 2030 | US$42.773 billion |
| Growth Rate | CAGR of 11.17% from 2025 to 2030 |
| Base Year | 2024 |
| Forecast Period | 2025 – 2030 |
| Forecast Unit (Value) | USD Billion |
| Segments Covered |
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| Companies Covered |
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| Regions Covered | North America, South America, Europe, Middle East and Africa, Asia Pacific |
| Customization Scope | Free report customization with purchase |