Industrial Refrigeration Systems Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Industrial Refrigeration System Industry Overview

The industrial refrigeration system market is competitive and consists of few major players such as Ingersoll Rand plc, United Technologies Corporation, Emerson Electric Co., Danfoss, GEA Group, Daikin Industries Ltd, and Dover Corporation. In terms of market share, few of the major players currently dominate the market. These major players with a prominent share in the market are focusing on expanding their customer base across foreign countries. These companies are leveraging strategic collaborative initiatives to increase their market share and increase their profitability.

• April 2020 - Danfoss has launched the liquid level switches that play a critical role in the functional safety of refrigeration systems and are used to prevent liquid from slugging in compressors. The new LLS 4000 for ammonia and HFCs provides a system with better safety measures. It comes with an optional SIL2 rating for enhanced reliability while providing easier installation and commissioning compared to float valve technology. Danfoss has also opened an in-house testing facility in Lappeenranta, Finland that will conduct electromagnetic compatibility and environmental tests on Danfoss Editron's systems and machines.
• March 2020 - Ingersoll Rand merged with Gardner Denver to provide a stronger, broader portfolio of mission-critical industrial, energy, medical and specialty vehicle products and services. The merger has positioned the new Ingersoll Rand as a global leader in mission-critical flow creation and industrial technologies. It has also partnered with Ace Group of Manchester, England and manufactured 26 Gardner Denver compressors for a London hospital during COVID -19 pandemic.