Product Code: A188569
According to a new report published by Allied Market Research, titled, "Industrial Refrigeration Service Market," The industrial refrigeration service market was valued at $3.8 billion in 2020, and is estimated to reach $7.1 billion by 2032, growing at a CAGR of 4.9% from 2023 to 2032. Industrial refrigeration services are all the services that are related to industrial refrigeration systems. Refrigeration systems in industries are among the crucial components as they are responsible for maintaining a cooler temperature for the storage of temperature-sensitive goods in food and beverages and chemical industries. Refrigeration systems are also used for cooling down machinery. These refrigeration systems are subject to recurrent breakdown due to over-use, and inefficient design, and also due to improper installation. Thus, services such as designing, and installation, as well as maintenance and repair are the common services provided by service providers.

The first step for setting up any industrial refrigeration system is its effective and regulations-compliant design. Design is also crucial as the installation of the system and its lifetime operation costs are dependent on how the system has been designed. The installation service comprises the installation of refrigeration systems strictly as per the designed layout to achieve higher efficiency of the system. In addition, a well-installed refrigeration system tends to be more robust and requires less maintenance. Moreover, refrigeration systems are a set of electrical and mechanical components, which are susceptible to break-downs. Thus, maintenance & repair services become essential to keep the refrigeration system always working and reduce any possible downtimes.
Food and drinks are in great demand, including meat and poultry products, dairy products, fruits and vegetables, and a variety of other items. For example, the agri-food industry contributed roughly $143 billion to the UK's national Gross Value Added in 2020. Because food items deteriorate at high temperatures, the food and beverage sector makes extensive use of refrigeration equipment. In addition, the potential of bacterial and pathogen invasion is quite significant. To keep food and drinks fresh throughout production, storage, and transportation, a well built and strong refrigeration system is required. Furthermore, Europe accounts for a sizable portion of global chemical and pharmaceutical output. For example, between 2011 and 2021, the total sold production of chemicals in the European Union increased from $746.7 billion in terms of value, reaching a peak of $909 billion in 2021. In the chemical and pharmaceutical sectors, a refrigeration system is essential to maintain a cooler temperature so that temperature-sensitive chemicals do not destabilize at elevated temperatures. In addition, cold-storage warehouses, which are among the largest users of industrial refrigeration systems are also increasing in number in the region.
Growth in food & beverage processing , pharmaceuticals , cold storage warehouses, chemical manufacturing , and other industries , is considered to be a major driver for the growth of the industrial refrigeration services market. Thus, various companies in the market are adopting acquisition as their key growth strategy in the Europe industrial refrigeration services market. For example, in June 2021, Blue Pearl Energy, a major provider of design, installation, and maintenance services for industrial refrigeration systems acquired REFRECO. REFRECO is one of Belgium's leaders in industrial, commercial, and HVAC refrigeration services from design to realization.
The industrial refrigeration services market is segmented on the basis of services, end-user industry, and region. By service, the market is divided into design, installation, and maintenance and repair. Depending upon the end user, the market is categorized into fresh fruits and vegetables, meat, poultry, and fish, dairy and ice cream, beverages, chemical and pharmaceutical, petrochemicals, and others. Region-wise, it is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, Italy, UK, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
Competition Analysis
Key companies profiled in the industrial refrigeration services market report include ACE Services, Carrier Corporation, COOLSYS, Daikin Industries, Ltd., Emerson Electric Co., Newman Refrigeration Ltd., Nimlas Group, Seward Refrigeration Limited, Star Refrigeration, and Stellar. The major players that operate in the global market have adopted key strategies such as acquisition, business expansion, agreement, and others to strengthen their market outreach and sustain the stiff competition in the market.
Key benefits for stakeholders
- The report provides an extensive analysis of the current and emerging industrial refrigeration services market trends and dynamics.
- In-depth market analysis is conducted by constructing market estimations for the key market segments between 2022 and 2032.
- Extensive analysis of the industrial refrigeration services market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
- A comprehensive analysis of all regions is provided to determine the prevailing opportunities.
- The global industrial refrigeration services market forecast analysis from 2023 to 2032 is included in the report.
- Key market players within the industrial refrigeration services market are profiled in this report and their strategies are analyzed thoroughly,, which helps understand the competitive outlook of the industrial refrigeration services industry.
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- Go To Market Strategy
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- Additional company profiles with specific to client's interest
- Additional country or region analysis- market size and forecast
- Average Selling Price Analysis / Price Point Analysis
- Brands Share Analysis
- Criss-cross segment analysis- market size and forecast
- Expanded list for Company Profiles
- Historic market data
- Market share analysis of players at global/region/country level
- SWOT Analysis
Key Market Segments
By Services
- Design
- Installation
- Maintenance and Repair
By End-user Industry
- Fresh fruits and vegetables
- Meat, poultry, and fish
- Dairy and ice cream
- Beverages
- Chemical and Pharmaceutical
- Petrochemicals
- Others
By Region
- North America
- Europe
- Germany
- France
- Italy
- UK
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players:
- ACE Service
- Stellar
- Nimlas Group
- Seward Refrigeration Limited
- Superchill
- Newman Refrigeration Ltd.
- CoolSys
- KG Refrigeration and Air Conditioning
- Daikin Industries, Ltd.
- Star Refrigeration
TABLE OF CONTENTS
CHAPTER 1: INTRODUCTION
- 1.1. Report description
- 1.2. Key market segments
- 1.3. Key benefits to the stakeholders
- 1.4. Research Methodology
- 1.4.1. Primary research
- 1.4.2. Secondary research
- 1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
- 3.1. Market definition and scope
- 3.2. Key findings
- 3.2.1. Top impacting factors
- 3.2.2. Top investment pockets
- 3.3. Porter's five forces analysis
- 3.3.1. Low bargaining power of suppliers
- 3.3.2. Low threat of new entrants
- 3.3.3. Low threat of substitutes
- 3.3.4. Low intensity of rivalry
- 3.3.5. Low bargaining power of buyers
- 3.4. Market dynamics
- 3.4.1. Drivers
- 3.4.1.1. Importance of refrigeration in food & beverage industry
- 3.4.1.2. Necessity of periodic maintenance of refrigeration systems
- 3.4.1.3. Advantages of third-party industrial refrigeration services
- 3.4.2. Restraints
- 3.4.2.1. High cost of services from skilled workforce
- 3.4.3. Opportunities
- 3.4.3.1. Expansion of supply chains in developing economies
CHAPTER 4: INDUSTRIAL REFRIGERATION SERVICE MARKET, BY SERVICES
- 4.1. Overview
- 4.1.1. Market size and forecast
- 4.2. Design
- 4.2.1. Key market trends, growth factors and opportunities
- 4.2.2. Market size and forecast, by region
- 4.2.3. Market share analysis by country
- 4.3. Installation
- 4.3.1. Key market trends, growth factors and opportunities
- 4.3.2. Market size and forecast, by region
- 4.3.3. Market share analysis by country
- 4.4. Maintenance and Repair
- 4.4.1. Key market trends, growth factors and opportunities
- 4.4.2. Market size and forecast, by region
- 4.4.3. Market share analysis by country
CHAPTER 5: INDUSTRIAL REFRIGERATION SERVICE MARKET, BY END-USER INDUSTRY
- 5.1. Overview
- 5.1.1. Market size and forecast
- 5.2. Fresh fruits and vegetables
- 5.2.1. Key market trends, growth factors and opportunities
- 5.2.2. Market size and forecast, by region
- 5.2.3. Market share analysis by country
- 5.3. Meat, poultry, and fish
- 5.3.1. Key market trends, growth factors and opportunities
- 5.3.2. Market size and forecast, by region
- 5.3.3. Market share analysis by country
- 5.4. Dairy and ice cream
- 5.4.1. Key market trends, growth factors and opportunities
- 5.4.2. Market size and forecast, by region
- 5.4.3. Market share analysis by country
- 5.5. Beverages
- 5.5.1. Key market trends, growth factors and opportunities
- 5.5.2. Market size and forecast, by region
- 5.5.3. Market share analysis by country
- 5.6. Chemical and Pharmaceutical
- 5.6.1. Key market trends, growth factors and opportunities
- 5.6.2. Market size and forecast, by region
- 5.6.3. Market share analysis by country
- 5.7. Petrochemicals
- 5.7.1. Key market trends, growth factors and opportunities
- 5.7.2. Market size and forecast, by region
- 5.7.3. Market share analysis by country
- 5.8. Others
- 5.8.1. Key market trends, growth factors and opportunities
- 5.8.2. Market size and forecast, by region
- 5.8.3. Market share analysis by country
CHAPTER 6: INDUSTRIAL REFRIGERATION SERVICE MARKET, BY REGION
- 6.1. Overview
- 6.1.1. Market size and forecast By Region
- 6.2. North America
- 6.2.1. Key market trends, growth factors and opportunities
- 6.2.2. Market size and forecast, by Services
- 6.2.3. Market size and forecast, by End-user Industry
- 6.2.4. Market size and forecast, by country
- 6.2.4.1. U.S.
- 6.2.4.1.1. Market size and forecast, by Services
- 6.2.4.1.2. Market size and forecast, by End-user Industry
- 6.2.4.2. Canada
- 6.2.4.2.1. Market size and forecast, by Services
- 6.2.4.2.2. Market size and forecast, by End-user Industry
- 6.2.4.3. Mexico
- 6.2.4.3.1. Market size and forecast, by Services
- 6.2.4.3.2. Market size and forecast, by End-user Industry
- 6.3. Europe
- 6.3.1. Key market trends, growth factors and opportunities
- 6.3.2. Market size and forecast, by Services
- 6.3.3. Market size and forecast, by End-user Industry
- 6.3.4. Market size and forecast, by country
- 6.3.4.1. Germany
- 6.3.4.1.1. Market size and forecast, by Services
- 6.3.4.1.2. Market size and forecast, by End-user Industry
- 6.3.4.2. France
- 6.3.4.2.1. Market size and forecast, by Services
- 6.3.4.2.2. Market size and forecast, by End-user Industry
- 6.3.4.3. Italy
- 6.3.4.3.1. Market size and forecast, by Services
- 6.3.4.3.2. Market size and forecast, by End-user Industry
- 6.3.4.4. UK
- 6.3.4.4.1. Market size and forecast, by Services
- 6.3.4.4.2. Market size and forecast, by End-user Industry
- 6.3.4.5. Rest of Europe
- 6.3.4.5.1. Market size and forecast, by Services
- 6.3.4.5.2. Market size and forecast, by End-user Industry
- 6.4. Asia-Pacific
- 6.4.1. Key market trends, growth factors and opportunities
- 6.4.2. Market size and forecast, by Services
- 6.4.3. Market size and forecast, by End-user Industry
- 6.4.4. Market size and forecast, by country
- 6.4.4.1. China
- 6.4.4.1.1. Market size and forecast, by Services
- 6.4.4.1.2. Market size and forecast, by End-user Industry
- 6.4.4.2. Japan
- 6.4.4.2.1. Market size and forecast, by Services
- 6.4.4.2.2. Market size and forecast, by End-user Industry
- 6.4.4.3. India
- 6.4.4.3.1. Market size and forecast, by Services
- 6.4.4.3.2. Market size and forecast, by End-user Industry
- 6.4.4.4. South Korea
- 6.4.4.4.1. Market size and forecast, by Services
- 6.4.4.4.2. Market size and forecast, by End-user Industry
- 6.4.4.5. Rest of Asia-Pacific
- 6.4.4.5.1. Market size and forecast, by Services
- 6.4.4.5.2. Market size and forecast, by End-user Industry
- 6.5. LAMEA
- 6.5.1. Key market trends, growth factors and opportunities
- 6.5.2. Market size and forecast, by Services
- 6.5.3. Market size and forecast, by End-user Industry
- 6.5.4. Market size and forecast, by country
- 6.5.4.1. Latin America
- 6.5.4.1.1. Market size and forecast, by Services
- 6.5.4.1.2. Market size and forecast, by End-user Industry
- 6.5.4.2. Middle East
- 6.5.4.2.1. Market size and forecast, by Services
- 6.5.4.2.2. Market size and forecast, by End-user Industry
- 6.5.4.3. Africa
- 6.5.4.3.1. Market size and forecast, by Services
- 6.5.4.3.2. Market size and forecast, by End-user Industry
CHAPTER 7: COMPETITIVE LANDSCAPE
- 7.1. Introduction
- 7.2. Top winning strategies
- 7.3. Product Mapping of Top 10 Player
- 7.4. Competitive Dashboard
- 7.5. Competitive Heatmap
- 7.6. Top player positioning, 2020
CHAPTER 8: COMPANY PROFILES
- 8.1. ACE Service
- 8.1.1. Company overview
- 8.1.2. Key Executives
- 8.1.3. Company snapshot
- 8.1.4. Operating business segments
- 8.1.5. Product portfolio
- 8.2. CoolSys
- 8.2.1. Company overview
- 8.2.2. Key Executives
- 8.2.3. Company snapshot
- 8.2.4. Operating business segments
- 8.2.5. Product portfolio
- 8.2.6. Key strategic moves and developments
- 8.3. Daikin Industries, Ltd.
- 8.3.1. Company overview
- 8.3.2. Key Executives
- 8.3.3. Company snapshot
- 8.3.4. Operating business segments
- 8.3.5. Product portfolio
- 8.3.6. Business performance
- 8.4. Newman Refrigeration Ltd.
- 8.4.1. Company overview
- 8.4.2. Key Executives
- 8.4.3. Company snapshot
- 8.4.4. Operating business segments
- 8.4.5. Product portfolio
- 8.5. Nimlas Group
- 8.5.1. Company overview
- 8.5.2. Key Executives
- 8.5.3. Company snapshot
- 8.5.4. Operating business segments
- 8.5.5. Product portfolio
- 8.5.6. Business performance
- 8.6. Seward Refrigeration Limited
- 8.6.1. Company overview
- 8.6.2. Key Executives
- 8.6.3. Company snapshot
- 8.6.4. Operating business segments
- 8.6.5. Product portfolio
- 8.7. Star Refrigeration
- 8.7.1. Company overview
- 8.7.2. Key Executives
- 8.7.3. Company snapshot
- 8.7.4. Operating business segments
- 8.7.5. Product portfolio
- 8.8. Stellar
- 8.8.1. Company overview
- 8.8.2. Key Executives
- 8.8.3. Company snapshot
- 8.8.4. Operating business segments
- 8.8.5. Product portfolio
- 8.9. KG Refrigeration and Air Conditioning
- 8.9.1. Company overview
- 8.9.2. Key Executives
- 8.9.3. Company snapshot
- 8.9.4. Operating business segments
- 8.9.5. Product portfolio
- 8.10. Superchill
- 8.10.1. Company overview
- 8.10.2. Key Executives
- 8.10.3. Company snapshot
- 8.10.4. Operating business segments
- 8.10.5. Product portfolio