Global Industrial Refrigeration Equipment Market projected to reach $70.05 billion by 2033
From GlobeNewswire: 2024-12-05 01:30:00
The global Industrial Refrigeration Equipment Market size & share was USD 42.23 Billion in 2023, expected to reach USD 44.35 Billion in 2024 and projected to reach USD 70.05 Billion by 2033, with a CAGR of 5.21% during 2024-2033. Factors driving growth include demand for efficient cooling solutions, frozen foods, tech advancements, cold chain logistics expansion, pharmaceutical sector growth, and health regulations compliance.
In March 2024, Hillphoenix Industrial partnered with Cool Refrigeration Systems & Solutions to represent industrial CO2 refrigeration systems in the Eastern U.S. and Canada. In November 2023, Daikin unveiled a new transport refrigeration lineup. Emerson introduced modular refrigeration units with CO2 compressors, while Mitsubishi launched electric-driven transport refrigeration units for small and mid-size trucks in September 2023. RCC introduces TEJ35GAM refrigeration unit in Japan, expanding its product line for hybrid and electric transport. Market size projected to reach USD 70.05 billion by 2033, with a 5.21% CAGR. Report covers key segments, regions, and buying options for tailored research needs. COVID-19 impact analysis included in updated report.
Industrial Refrigeration Equipment Market affected by COVID-19, with disruptions in international trade, demand fluctuations, regulatory changes, and operational challenges. Companies adapt with innovative strategies, technological advancements, automation push, and focus on sustainability to meet evolving industry needs. Ongoing developments aim to improve user experience and operational efficiency. The Industrial Refrigeration Equipment Market is experiencing a shift towards environmentally responsible products, influenced by the COVID-19 pandemic. Key questions answered in the report include market size, growth rate, top companies, and fastest-growing segments. Regional analysis highlights growth drivers and trends in North America, Europe, Asia-Pacific, and LAMEA. Major players in the market include Johnson Controls, Ingersoll Rand, and Carrier Global Corporation. For more information, visit the provided link. The global industrial refrigeration equipment market includes key players such as Lennox International Inc., Mitsubishi Electric Corporation, Baltimore Aircoil Company, and more. For a detailed analysis and market insights, access a free sample report at the provided link. The report offers comprehensive coverage with a maximum number of market tables and figures.
Take advantage of spectacular deals in the industrial refrigeration equipment market. The subscription-based option comes with a best price guarantee and free customization options. Enjoy 35% off or 60 hours of customization, free post-sale service assistance, and a 25% discount on your next purchase. Personalized market briefs by the author are also available for added value. 1. The stock market reached record highs today, with the S&P 500 hitting a new all-time high of 3,600 points. Investors are optimistic about a potential COVID-19 vaccine and the incoming Biden administration’s economic policies.
2. In other news, the unemployment rate dropped to 6.9% in October, a significant improvement from the peak of 14.7% in April. Job growth has been steady, with 638,000 new jobs added last month in various sectors such as hospitality and professional services.
3. The tech sector saw a surge in shares, led by companies like Apple and Amazon, which both reported strong earnings in the third quarter. Apple’s revenue reached $64.7 billion, while Amazon’s profit doubled to $6.3 billion, driven by increased online shopping during the pandemic.
4. On the international front, tensions are rising between the US and China as the Trump administration imposed new restrictions on Chinese companies such as Huawei and SMIC. This move is seen as a continuation of the ongoing trade war and could have significant implications for global supply chains.
5. Lastly, in sports news, the NBA announced plans to start the 2020-2021 season on December 22nd with a reduced schedule of 72 games. Teams will play in their home arenas without fans, following strict health and safety protocols to prevent the spread of COVID-19 among players and staff. 1. The stock market hit record highs today, with the S&P 500 reaching 3,000 for the first time ever. Investors are optimistic about strong corporate earnings and potential interest rate cuts by the Federal Reserve.
2. Hurricane Dorian has intensified to a Category 4 storm, with sustained winds of 130 mph. It is expected to make landfall in Florida this weekend, prompting evacuations and storm preparations in the state.
3. The unemployment rate dropped to 3.7% in the latest Labor Department report, the lowest level in nearly 50 years. Job gains were seen in healthcare, professional services, and financial industries.
4. The US-China trade war escalated as both countries imposed new tariffs on each other’s goods. President Trump accused China of unfair trade practices, while Chinese officials vowed to retaliate with their own tariffs.
5. Amazon announced plans to open a new fulfillment center in Ohio, creating 1,500 full-time jobs. The facility will be the fourth in the state and is part of Amazon’s efforts to expand its logistics network.
6. Scientists discovered a new species of whale in the Gulf of Mexico, named Rice’s whale. With only around 100 individuals left, conservation efforts are being implemented to protect this endangered species from threats such as ship strikes and fishing gear entanglement.
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