Industrial Cooling Systems Market Size, Share, Growth, Key Trends at a CAGR of 5.2% Forecast To 2032

Industrial Cooling Systems Market Growth 2032

Industrial Cooling Systems Market Expected to Reach $31.3 Billion by 2032

WILMINGTON, DELAWARE, January 17, 2024 / -- An industrial cooling systems is a vast network of machinery and procedures intended to control and remove surplus heat from an industrial facility or processors. This system is essential for preserving working conditions, safeguarding machinery, and guaranteeing effective operation in sectors like manufacturing, power generation, and data centers. They use a variety of cooling technologies, including heat exchangers, ventilation systems, and chiller towers, to effectively control temperature and dissipate heat in this region.

The industrial cooling systems market size was valued at $16.6 billion in 2020, and is estimated to reach $31.3 billion by 2032, growing at a CAGR of 5.2% from 2023 to 2032.

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Increasing in demand for industrial cooling systems from various industries such as pharmaceutical and oil and gas industries drives industrial cooling systems market growth. In addition, factors such as industrial growth, technological advancement, energy efficiency requirement and the need for sustainable cooling solution contribute to the growth of the market.

In addition, in developing nations such as India, China, Latin America, and the Middle East, there is a greater demand for industrial refrigeration and related equipment due to the rapid growth and modernization of cold storage facilities.

Additionally, rapid expansion and upgrades in cold storage facilities have led to the higher demand for industrial refrigeration and related equipment in the developing countries such as India, China, Latin America, and the Middle East.

Furthermore, cold storage facilities and refrigerated warehouses offer characteristics for blast freezing, tempering, and modified atmosphere storage to a variety of processing sectors, including those in the food and beverage, dairy, ice cream, meat, poultry, and fish as well as the chemical and pharmaceutical industries. Therefore, the presence of cutting-edge cold storage facilities in emerging economies significantly aids in the expansion of the global industry.

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Top Runners:
The major players profiled in the industrial cooling systems market include Airedale International Air Conditioning Ltd., Baltimore Aircoil Company Inc., Brentwood Industries, Inc., Emerson Electric Co., GEA Group Aktiengesellschaft, Hamon Group S.A., Johnson Controls International plc, Schneider Electric SE., SPX Corporation., and Star Cooling Tower Pvt Ltd.

Key Segments Based On:

By End-user Industry -
Food and Beverage
Utility and Power
Oil and Gas

By Product Type -
Air Cooling
Evaporative Cooling
Water Cooling
Hybrid Cooling

By Function -
Stationary Cooling
Transport Cooling

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David Correa
Allied Analytics LLP
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