MEA Industrial Refrigeration Systems Market Overview, Segment Analysis, Growth Opportunities and Forecast to 2023

The Middle East & Africa (MEA) industrial refrigerationsystems market is expected to reach $2,406.8 Million by the end of 2023. Countries, predominantly Gulf Cooperation Council (GCC) in the MEA region are poised for growth in industrial refrigeration systems market owing to rapid commercialization of cold-chain logistics as well as increasing adoption of environment friendly refrigerants.

Based on equipment type, the MEA industrial refrigeration systems market has been classified into compressors, condensers, evaporators, controls and others, wherein others include pumps, valves, vessels and auxiliary equipment. The market for controls category is expected to exhibit the fastest CAGR of over 8% during the forecast period.

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Based on refrigerant type, the MEA industrial refrigeration systems market has been categorized into ammonia, carbon dioxide (CO2), hydrofluorocarbons (HFC) and others, wherein others include chlorofluorocarbon (CFC), hydrochlorofluorocarbon (HCFC), fluorocarbon (FC), hydrocarbon (HC), Air and Water (H2O).

The market for CO2-based industrial refrigeration systems is expected to register the fastest CAGR during the forecast period. CO2 provides significant efficiency advantages over other refrigerants while being less hazardous to the environment along with being potentially safer to operate.

The food and beverage industry is one of the most important manufacturing sectors in UAE. The country’s domestic food and beverage consumer market is witnessing continuous expansion driven by growing purchasing power and increasing expats.

Chemicals and pharmaceutical industry is the second largest adopter of industrial refrigeration systems in MEA. The chemical, petrochemical and oil refining industries needs refrigeration for condensation of gases, dehumidification of air, and preservation of compounds.

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Some of the major players operating in the MEA industrial refrigeration systems market include Adearest, Carel Industries SpA, Ingersoll Rand plc, United Technologies Corporation, Emerson Electric Co., Danfoss A/S, Star Refrigeration Ltd., Daikin Industries Ltd, Dover Corporation, Hussmann Corporation, and Johnson Controls International plc.

MEA Industrial Refrigeration Systems Market Segmentation

Market Segmentation by Equipment Type

·         Compressors

·         Condensers    

·         Evaporators

·         Controls

·         Others (include pumps, valves, vessels and auxiliary equipment)

Market Segmentation by Refrigerant Type

·         Ammonia

·         Carbon Dioxide (CO2)

·         Hydrofluorocarbon (HFC)

·         Others (include CFC, HCFC, FC, HC, Air and H2O)

Market Segmentation by Application

·         Food & Beverages

·         Chemical & Pharmaceuticals

·         Oil & Gas

·         Others (include manufacturing and construction)