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December 2, 2015

AC Wholesaler

Demand for refrigeration units will increase significantly between 2015 and 2020. The food processing industry is growing and in countries that are still in the development phase, refrigerated warehouses are needed. In 2014, the refrigeration market was worth 22.7 billion, and by 2020, it is anticipated that it will reach upwards of 33.90 billion. It is a 7.1 compound annual growth rate (according to P&S Market Research)! The biggest shares of the market were compressors, evaporator units, and industrial racks. They accounted for 64% of sales. In recent years, developed countries have been outsourcing their pharmaceutical business that increases the need for refrigeration in the countries chosen for production.

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Industrial refrigeration systems are made up of multiple mechanisms, electrical and mechanical in nature. They are brought together by the service provider to create a engineered customer system based on particular needs. Heat exchangers, compressors, racks, evaporators, and other specific items are fused together to form the units.

Markets in Latin America, Asia-Pacific, and underdeveloped countries beginning to get into the field have shown increased growth in the past few years. The European market is going to start to plateau and is predicted to have below average growth in the upcoming years. Most of their business will be coming from repair and replacement of units that have already been installed.

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There are a few major companies that monopolize the global industrial refrigeration market. These include: United Technologies Corp., Johnson Controls Inc., Bitzer Kuhlmaschinebau GmbH, Industrial Frigo S.R.L., Star Refrigeration LTD, Husmann Corp., Emerson Electric Co., Dover Corp., GEA Group, Aktiengesellschaft, Danfoss A/S, and Bitzer Kuhlmaschinebau GmbH.

It is a fascinating market to keep an eye on.

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