Industry Background:
The packaged refrigeration systems provide various benefits including significant savings, automatic controls, space-saving, mobility, and others. This system ensures high standards of quality control and reduces the overall project timeline. According to the application, this system designs the refrigerants. This system works on the basis of petroleum and natural gas. These compact and efficient models of refrigerants are factory-built that support the highest regulatory and performance requirement across various industries.
According to AMA Research, the market for Packaged Refrigeration is expected to register a CAGR of 8.0% during the forecast period to 2030. This growth is primarily driven by Increasing Number of Warehouses and Logistics Services in Developed Regions
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | K Units |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Industrial Machinery sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as Carrier (United States), RenewAire (United States), Daikin Industries (Japan), Johnson Controls (Ireland), LG Electronics (South Korea), Samsung Electronics (South Korea), Whirlpool (United States), Emerson Electric (United States), Electrolux (Sweden) and Haier (China), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In December 2023, OEM Evapco has launched VersaSplit, a new condensing unit that the company deems the “world’s first” packaged low-charge ammonia (R717) mega-split refrigeration system, with up to six remote direct expansion (DX) evaporators operating at different temperatures.
In December 2023, PRO Refrigeration Inc, has recently launched their groundbreaking PROGreen Hybrid Packaged Chiller System. This new solution merges two independent refrigeration systems combined into a single packaged chiller system. What makes this pairing unique is one system utilizes all-natural CO2/R744 as a refrigerant while the other system utilizes R448, a synthetic refrigerant with a Global Warming Potential (GWP) under 1300.The global packaged refrigeration market is highly competitive and covers some major key players. In terms of market share, some of the key players are highly dominated in the global market share. These market players are focusing on strategic collaborative initiatives to enhance their market share and improve their revenue generation.
Influencing Trend:
Increase Investment in Research and Development and Rapid Advancement in Technology
Market Growth Drivers:
Increasing Number of Warehouses and Logistics Services in Developed Regions, The Rise in Requirement in the Pharmaceutical Industry and Growing Demand for the Low Cost and Safety Concern
Challenges:
High Cost Associated with Packaged Refrigerators and Fluctuation in the Prices of Raw Materials
Restraints:
The Slowdown in Economy Because of the Pandemic Situation
Opportunities:
Development in Food and Beverages Industry and Growing Demand for the Low Charge Packaged Refrigeration Systems that Ammonia
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Packaged Refrigeration Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Packaged Refrigeration Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Packaged Refrigeration players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Packaged Refrigeration Study Sheds Light on
The Packaged Refrigeration Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Packaged Refrigeration industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Packaged Refrigeration industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.