May 05, 2022 05:26 ET | Source: ReportLinker ReportLinker

New York, May 05, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Refrigeration Coolers Market Size, Share & Industry Trends Analysis Report By Component, By Refrigerant Type, By Application, By Commercial Type, By Industrial Type, By Regional Outlook and Forecast, 2021 - 2027" - https://www.reportlinker.com/p06273375/?utm_source=GNW In addition, fast growth in the organized retail sector, such as the expansion of hypermarkets and supermarkets, enhances overall sales of refrigeration coolers. Additionally, technological developments and an increase in the number of fast service restaurants, particularly in developing nations, are likely to create significant prospects for market expansion. Some of the key trends of the refrigeration coolers market are higher investments in cold storage, global demand for frozen and processed foods, and the need for novel refrigeration coolers. In addition, natural refrigerant-based systems are being used in a wide range of commercial and industrial applications, which is a positive sign for the industry. The refrigeration cooler market benefits from producing energy-efficient systems since it gives a more profitable solution to enterprises’ needs while also addressing the need for a more environmentally responsible business approach. As improved storage systems extend across emerging economies, the industry is projected to grow. Moreover, companies are working to develop ecologically friendly and efficient refrigeration because it minimizes the quantity of energy wasted, efficiency is linked to sustainability. As the adoption of refrigeration coolers grows, so does energy consumption, pushing business owners to look for more cost-effective solutions. Because of changing lifestyles and expanding urbanization, consumer demand for frozen and chilled commodities has increased, necessitating the use of commercial refrigeration coolers. In addition, rapid growth in the organized retail sector, such as the construction of hypermarkets and supermarkets, boosts global commercial refrigerator sales, hence supporting economic growth. On the other hand, the requirement for regular maintenance, as well as the likelihood of technical concerns arising from a lack of effective maintenance would be the obstacles to the growth of the market. COVID-19 Impact COVID-19 had a tremendous impact on the refrigeration industry due to the lockdown’s devastating impact on the manufacturing sector in several places. Due to the abrupt shutdown in 2020, the indoor climate control, process cooling, and food cold chain technology industries had a significant decline because of disruptions in manufacturing, production, and demand and supply in refrigeration components. Process cooling encompasses a variety of cooling techniques that are critical in a variety of industrial and commercial settings. Additionally, different refrigeration process equipment is required for these cooling operations, such as refrigeration coolers, which are used to chill, refrigerate, extract heat, or maintain temperature during manufacturing, production, or storage in many sectors. However, several manufacturing and production activities in the refrigerated coolers sector were suspended as a result of the unexpected lockdown. Various component manufacturers had to deal with problems that led to the development of cutting-edge process cooling solutions. Market Growth Factors Investments in refrigerated warehouses and cold storage facilities are increasing In the wake of the COVID-19 pandemic, increased demand for online grocery shopping and frozen food has prompted e-commerce businesses to put investment in refrigerated warehouses and cold storage. In addition, cold storage facilities have begun to be deployed in port-centric and coastal markets, as well as in close proximity to densely populated metro areas, in the United States. Factors such as the scarcity of land in metropolitan regions are driving cold storage companies to locate their operations near these places. In the year 2020, Lineage Logistics purchased many North American cold storage companies, including Allied Cold Storage, Southern Cold Storage, and Western Distribution Services. On 2020, Americold, on the other hand, invested a significant amount in cold storage purchases. Rising demand for fast-moving consumer goods (FMCG) The demand for smart refrigeration, cold storage chain logistics, and transportation is directly proportional to the demand for fast-moving consumer goods (FMCG). The demand for refrigeration units to store and cool these products has increased as internet shopping and e-grocery have grown in popularity. Because some commodities are delicate, refrigerated logistics has limited time periods in which to distribute them. Food transportation from a warehouse or retail outlet to a customer location has also gotten more costly and difficult. In many countries, there has been a surge in demand for meal packages and e-grocery items. The need for cold-storage space has surged as a result of the abrupt increase in perishable food goods and consumables. Market Restraining Factors Absence of qualified employees and serious safety concerns The demand for ammonia and carbon dioxide as refrigerants has increased dramatically as natural refrigerant-based systems have gained acceptance. The fact that these refrigerants have zero ODP and a low GWP has resulted in a rise in demand. Ammonia, for example, is a common refrigerant in industrial refrigeration facilities around the world, and it is environmentally safe and meets the low-GWP criteria. Ammonia, on the other hand, is considered a hazardous gas, and its inadvertent leaking in facilities can result in serious industrial mishaps. Lower ammonia concentrations can cause temporary blindness, eye damage, skin illnesses, and other respiratory diseases, whilst greater quantities can be lethal. Component Outlook Based on Component, the market is segmented into Evaporators & Air coolers and Condenser. In 2020, the Evaporators & Air coolers segment acquired the highest revenue share of the Refrigeration Coolers Market. With sophisticated refrigeration systems, refrigeration is driving significant expansion in commercial and industrial applications. Because these components are broadly utilized in a variety of applications, they are available in a variety of forms and sizes to meet individual needs. For industrial and commercial cold storage, for example, a series of big capacity coolers are offered, especially when food safety, efficiency, and reliability are critical. Refrigerant Type Outlook Based on Refrigerant Type, the market is segmented into HFC/HFO, NH3, CO2, Glycol, and Others. The NH3 segment held a significant revenue share of the Refrigeration Coolers Market in 2020. This is because concentrated ammonia is substantially colder than room temperature, it’s a great choice for keeping things cool. In addition, ammonia is a substance that absorbs heat from one place and transports it to another for dissipation. Moreover, most people are familiar with CFC-based refrigeration systems, as well as older Freon-based systems. Application Outlook Based on Application, the market is segmented into Commercial and Industrial. Based on Commercial Type, the market is segmented into Supermarkets & Hypermarkets, Convenience Stores & Mini Markets and Hospitality. Based on Industrial Type, the market is segmented into Refrigerated Warehouses, Beverage Processing, Fruit & Vegetable Processing, Dairy & Ice-cream Processing, Meat, Poultry, & Fish Processing and Others. In 2020, the Commercial segment obtained the largest revenue share of the Refrigeration Coolers Market. Heat recovery is a key contributor to minimizing energy consumption, particularly where space heating is a seasonal requirement, for larger supermarkets, energy use is generally deemed as a whole, including the building HVAC, water use, lighting, and commercial refrigeration. Regional Outlook Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. In 2020, the APAC emerged as the leading region in the overall Refrigeration Coolers Market. This is because of the increasing demand for refrigerated cooling units from commercial and industrial applications. In addition, APAC includes countries like China, India, and Japan, which are among the world’s leading countries in terms of refrigerated warehouse capacity, and worldwide market players are seeing strong demand from China, India, Japan, and South Korea. The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Johnson Controls International PLC, Emerson Electric Co., Carrier Global Corporation, Daikin Industries, Ltd., The Danfoss Group, Lennox International, Inc., Guntner GmbH & Co. KG, Evapco, Inc., Baltimore Aircoil Company Inc. (Amsted Industries), and Koxka. Strategies Deployed in Refrigeration Coolers Market Partnerships, Collaborations and Agreements: Dec-2021: 75F came into a partnership with Daikin Applied Americas, a corporation that designs, manufacturers, and sells heating, ventilation, and air conditioning products, systems, parts, and services for commercial buildings. Following the partnership, the two companies aimed to develop and implement advanced wireless controls and sensing technology. Moreover, the new offerings of cloud-based products are developed to work out-of-the-box with preset profiles and sequences particular to Daikin Applied HVAC equipment. Mar-2021: Carrier Transicold formed a partnership with AddVolt, an engine-agnostic technology company that develops sustainable transport refrigeration solutions for European customers. Under this partnership, the two companies would work towards the wide-scale adoption of electric trailer refrigeration systems across Europe, which eventually assists develop a viable pathway for customers to shift from diesel-powered units to more sustainable solutions. Product Launches and Product Expansions: Feb-2022: Evapco introduced its first industrial/commercial CO2 gas cooler, in air-cooled as well as adiabatic versions, under its eco-Air Series. Through this launch, the company strengthened its vision to provide quality and eco-friendly products. Dec-2021: Daikin rolled out ATMOSPHERA with R-32 Refrigerant. The new system has an R-32 refrigerant from Daikin North America and is an excellent, new single-zone system that has a lower GWP, is more efficient, and may assist reduce end-user electric bills compared to R-410A models. Feb-2020: Carrier Transicold introduced More Powerful Supra Truck Refrigeration Units-next-generation Supra series of diesel-powered truck refrigeration units, offering more powerful cooling choices for small to large boxes. In addition, the latest Supra series easily embeds with eSolutions telematics portfolio of Carrier Transicold, allowing remote monitoring and control of the refrigeration system, geofencing, GPS location data, and other capabilities. Feb-2020: Emerson Electric unveiled the Copeland Indoor Modular Solution and the Copeland Scroll Digital Outdoor Refrigeration Unit X-Line Series, two new pieces of foodservice equipment. These systems are developed for display cases and other foodservice applications that utilize distributed architectures. Moreover, they also combine refrigeration equipment with facility controls so operators can manage their data. Acquisitions and Mergers: Jul-2021: Baltimore Aircoil Company completed the acquisition of Eurocoil, the Italy-based manufacturer of finned coil heat exchangers. This acquisition would expand the manufacturing capacity of Baltimore Aircoil in the region while including additional heat exchanger capabilities utilized for BAC’s current evaporative hybrid and adiabatic cooling products. Mar-2021: Johnson Controls took over Cool Solution, a prominent service provider of air conditioning and refrigeration with offices in Cardiff and Tewksbury. Through this acquisition, the company would expand its HVAC offering across various customer segments. Moreover, the company would also benefit from the design and project management capabilities of Cool Solution. Geographical Expansions: Sep-2021: Danfoss established a center of excellence for green refrigerants at its facility in Chennai, India. Through this, the company aimed to bolster the development and usage of low-GWP refrigerants in India, including CO2 (R744) and other natural refrigerants. Scope of the Study Market Segments covered in the Report: By Component • Evaporators & Air coolers and • Condenser By Refrigerant Type • HFC/HFO • NH3 • CO2 • Glycol, and • Others By Application • Commercial and • Industrial By Commercial Type • Supermarkets & Hypermarkets • Convenience Stores & Mini Markets and • Hospitality By Industrial Type • Refrigerated Warehouses • Beverage Processing • Fruit & Vegetable Processing • Dairy & Ice-cream Processing • Meat • Poultry, & Fish Processing and • Others By Geography • North America o US o Canada o Mexico o Rest of North America • Europe o Germany o UK o France o Russia o Spain o Italy o Rest of Europe • Asia Pacific o China o Japan o India o South Korea o Singapore o Malaysia o Rest of Asia Pacific • LAMEA o Brazil o Argentina o UAE o Saudi Arabia o South Africa o Nigeria o Rest of LAMEA Companies Profiled • Johnson Controls International PLC • Emerson Electric Co. • Carrier Global Corporation • Daikin Industries, Ltd. • The Danfoss Group • Lennox International, Inc. • Guntner GmbH & Co. KG • Evapco, Inc. • Baltimore Aircoil Company Inc. (Amsted Industries) • Koxka Unique Offerings • Exhaustive coverage • Highest number of market tables and figures • Subscription based model available • Guaranteed best price • Assured post sales research support with 10% customization free Read the full report: https://www.reportlinker.com/p06273375/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________