The global industrial refrigeration market size is expected to be valued at $30,250.6 million by 2028, surging from $20,117.9 million in 2020, at a noteworthy CAGR of 5.3%. Global Industrial Refrigeration Market Analysis The global industrial refrigeration market is expected to witness exponential growth, during the forecast years, mainly because, government authorities across are taking initiatives in order to attract investment in the cold chain industry along with strengthen the cold chain infrastructure. For example, in July 2021, Japan government announced to provide almost $9.3 million aid to government of India for building cold-chain infrastructure, during the COVID-19 pandemic. Such factors may propel the demand for industrial refrigeration worldwide, during the analysis period. However, high installation cost of industrial refrigeration is one of the major reasons hampering the global industrial refrigeration industry, during the analysis period. In addition to this, lack of skilled personnel in the global refrigeration industry is also restraining the market growth. Grab an Access to the PDF Sample of Industrial Refrigeration Market@ https://www.researchdive.com/download-sample/8427 Global Industrial Refrigeration Market, Segmentation The global industrial refrigeration market is segmented based on product, application, and region. Component: The component segment is further classified into compressors, condensers, evaporators, controls, and others. Among these, the compressors sub-segment is predicted to have the largest share and cross $11,966.9 million by 2028, with the rise from $7,803.9 million in 2020. The capability of compressors to regularly maintain a low temperature in industrial refrigeration systems is one of the major factors contributing to their notable penetration. Also, the technological advancements and growing R&D investments across the companies namely Danfoss, Johnson Controls, and GEA have also created positive impact on the sub segment’s growth. Application The application segment is further classified into refrigerated warehouse, food & beverage, chemical, petrochemical & pharmaceutical, and refrigerated transportation. Among these, the food & beverage sub-segment is expected to have the dominating share and surpass $16,653.6 million by 2028, with the increase from $11,006.4 million in 2020. Refrigeration system ensures that the meat, seafood, dairy, and poultry products remain safe and fresh for consumption, which is getting crucial for both health-conscious consumers as well as business reputation. Also, these systems play a vital role in retaining the quality of food products and maintaining energy efficiency as well as cost efficiency. Such key elements are likely to upsurge the demand for industrial refrigeration systems specifically in the food & beverage applications, over the analysis period. Region: The industrial refrigeration market for the Asia-Pacific region is anticipated to have a lucrative growth. Asia-Pacific industrial refrigeration market accounted $6,598.7 million in 2020 and is expected to register a revenue of $10,557.5 million by 2028. The extensively increasing need for innovative and compact industrial refrigeration systems is one of the key elements boosting the development of the industry. One of the major reasons behind this growth can be the lack of expertise and the poor cold chain infrastructure. For instance, as per data published by FnBnews.com, India-based notable online food and beverage news platform, in August 2021, Indian agriculture sector loses almost $8-15 billion every year, owing to the nascent cold chain. Triangulate with your own data of Industrial Refrigeration Market@ https://www.researchdive.com/request-for-customization/8427 Key Players in the Global Industrial Refrigeration Market Some of the leading global industrial refrigeration market players Danfoss A/S, Rivacold srl, Clauger, Güntner GmbH & Co. KG, BITZER, DAIKIN INDUSTRIES, Ltd., Johnson Controls International Plc, Ingersoll Rand, Carrier Global Corporation, and EVAPCO, Inc. Along with the company profiles of the key players in the market, the report includes the Porter’s five forces model that gives deep insights into the competitive environment of the market. Connect with Analyst to Reveal How COVID-19 Impacting On Industrial Refrigeration Market@ https://www.researchdive.com/connect-to-analyst/8427