MEA Industrial Refrigeration Systems Market Projected to Have a Stable Growth for the Next Few Years

Posted on 2019-07-22 by P&S Intelligence in Semiconductors, Technology, Telecommunications // 0 Comments

The Middle East & Africa (MEA) industrial refrigeration systems market is expected to reach $2,406.8 Million by the end of 2023. Countries, predominantly Gulf Cooperation Council (GCC) in the MEA region are poised for growth in industrial refrigeration systems market owing to rapid commercialization of cold-chain logistics as well as increasing adoption of environment friendly refrigerants.

Based on equipment type, the MEA industrial refrigeration systems market has been classified into compressors, condensers, evaporators, controls and others, wherein others include pumps, valves, vessels and auxiliary equipment. The market for controls category is expected to exhibit the fastest CAGR of over 8% during the forecast period.

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The market for CO2-based industrial refrigeration systems is expected to register the fastest CAGR during the forecast period. CO2 provides significant efficiency advantages over other refrigerants while being less hazardous to the environment along with being potentially safer to operate.

Based on refrigerant type, the MEA industrial refrigeration systems market has been categorized into ammonia, carbon dioxide (CO2), hydrofluorocarbons (HFC) and others, wherein others include chlorofluorocarbon (CFC), hydrochlorofluorocarbon (HCFC), fluorocarbon (FC), hydrocarbon (HC), Air and Water (H2O).

Chemicals and pharmaceutical industry is the second largest adopter of industrial refrigeration systems in MEA. The chemical, petrochemical and oil refining industries needs refrigeration for condensation of gases, dehumidification of air, and preservation of compounds.

The food and beverage industry is one of the most important manufacturing sectors in UAE. The country’s domestic food and beverage consumer market is witnessing continuous expansion driven by growing purchasing power and increasing expats.

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Some of the major players operating in the MEA industrial refrigeration systems market include Adearest, Carel Industries SpA, Ingersoll Rand plc, United Technologies Corporation, Emerson Electric Co., Danfoss A/S, Star Refrigeration Ltd., Daikin Industries Ltd, Dover Corporation, Hussmann Corporation, and Johnson Controls International plc.

MEA Industrial Refrigeration Systems Market Segmentation

Market Segmentation by Equipment Type

Compressors
Condensers
Evaporators
Controls
Others (include pumps, valves, vessels and auxiliary equipment)

Market Segmentation by Refrigerant Type

Ammonia
Carbon Dioxide (CO2)
Hydrofluorocarbon (HFC)
Others (include CFC, HCFC, FC, HC, Air and H2O)

Market Segmentation by Application

Food & Beverages
Chemical & Pharmaceuticals
Oil & Gas
Others (include manufacturing and construction)

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