Johnson Controls has successfully acquired Hybrid Energy AS, a provider of high-temperature energy management solutions that focuses on heat pumps for district heating and industrial processes. The acquisition allows the company to bring new innovative solutions for consumers while addressing de-carbonization and sustainability.
Emerson Electric Co. has decided to donate its unique and sustainable refrigeration architecture that was developed at its Helix Innovation Center in Dayton, Ohio, to the city’s Gem City Market. This will ensure the delivery of safe, high-quality food to the consumers.
Author Credits: Abhishek Verma, Hetal Singh
Report ID: 4970
Published Date: Jun 02, 2023
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
The increasing food wastage across the globe along with the escalation in the demand for effective storage solutions is anticipated to drive market growth.
The market size of industrial refrigeration is anticipated to attain a CAGR of ~8.30% over the forecast period, i.e., 2023 â€“ 2035.
The major players in the market are Johnson Controls, Emerson Electric Co., GEA Group Aktiengesellschaft, Danfoss A/S, Mayekawa Group of Companies, Daikin Industries, Ltd., BITZER KÃ¼hlmaschinenbau GmbH, EVAPCO Inc., Guntner GmbH & Co. KG, LU-VE S.p.A, and other key players.
The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by component, refrigerant type, type, capacity, application, and by region.
The food & beverage segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
The lack of skilled professionals for operating industrial refrigeration along with the high cost of installation are estimated to be the growth hindering factors for the market expansion.
The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.