Infiniti’s latest competitive intelligence study evaluates the competition in the industrial refrigeration market across the supply chain, pharmaceutical, food processing, chemicals, and oil and gas industries.
Trends and growth drivers for industrial refrigeration
The increasing demand for cooling systems with better temperature stability, improved energy efficiency, and agility in functioning is driving the growth of the industrial refrigeration market. The most widely available industrial refrigeration systems consist of electrical and mechanical components such as heat exchangers, compressors, evaporators, and racks. The manufacturers are focusing on developing products that meet the increasing safety and environmental regulations. The drastic progress of the food and beverage industry in emerging nations such as BRIC (Brazil, Russia, India, and China), Latin America, parts of APAC, and the Middle East will have a positive impact on the growth of this market. The advent of product innovations, favorable government regulations, and demand for energy-efficient machinery will drive development in this market. The recent competitive intelligence study by Infiniti offers a deep-dive assessment of the industrial refrigeration and energy market in terms of the growth potential, segmentation, and the challenges. The study also provides valuable insights on market structure, growth drivers, key competitors, channels, vendors, and customer segments.
The significant growth in the pharmaceutical industry will drive the demand for industrial refrigeration systems. Unceasing development in the pharmaceutical manufacturing sector in countries such as China and India is aiding to the high requirement for these products. The vendors are manufacturing precise temperature and humidity control systems to comply with FDA regulations and expand their consumer base.
Introduction of new refrigerants
The launch of new refrigerants such as CO2 and hydrocarbons increases the efficiency of refrigeration systems. The introduction of ammonia refrigerant systems helps reduce safety precautions, and its low density makes it less attractive for low-temperature applications. The usage of ammonia or brine system can also reduce the ammonia charge and offers high efficiency and minimal environmental impact. The introduction of such innovative systems will reduce the operational costs of industries and promote sustainable industrial development.
Demand for components for high-pressure applications
The demand for high-pressure components helps facilitate the use of higher efficiency systems such as the Transcritical CO2 systems. The manufacturers in the industry are focusing on developing higher pressure components that cater to specific industrial applications. The use of high-pressure systems eliminates the need for backup systems and provides better operational efficiency. Moreover, these systems are designed to offer substantial cost, space, and time advantages for different industries.
Solutions and recommendations
The competitive intelligence study by Infiniti Research helps companies across different industries to assess and enter new markets and enhance their offerings. Some of the solutions offered are listed below:
- Provide an in-depth understanding of the market size and the key competitors
- Identify the competitors in the market and make strategic decisions to increase the product portfolio across the target region
- Deliver valuable information on the figures, facts, and forecasts, covering the major and niche players in the market
- Offer a better understanding of the market segmentations in terms of distributor, wholesale, and DIY
- Develop a robust and defendable prototype market sizing model
Read our comprehensive case study on market research and competitive intelligence study helps a global engineering company
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