Know what you want? Try our 'Supplier Directory' 

BSRIA study shows US industrial refrigeration market worth $2Billion

Demand for industrial refrigeration systems in the USA fuelled by market drivers such as US tax cuts, increasing population and increase in industrial construction, particularly the cold storage and warehouse segments, resulted in the market being worth $2 billion in 2018 which is a 6.9 per cent increase from 2017.

Industrial refrigeration trends and forecast by value USD millions, 2017-2023.

BSRIA has just published a new study providing detailed quantitative and qualitative assessment of the industrial refrigeration market in USA.

This includes the cooling and refrigeration of industrial processes like distribution, food & beverage storage, production and energy, and consists of bare compressors, compressor units, compressor racks, industrial packages, remote condensers, evaporators, fluid to fluid heat exchangers and other products such as starters and drives, pressure vessels, refrigeration controls, hygienic air handling units and compressor motors.

Due to tariffs being levied by the US government on steel and aluminium, which have affected the cost of components, manufacturers increased pricing in 2017-2018. Additionally, stringent regulations against HCFCs and HFC refrigerants has seen users retrofitting old equipment with alternative refrigerants or natural refrigerants such as ammonia or CO2.

In a competitive landscape, Johnson Controls, Emerson, GEA and Mayekawa remain some of the large players, thanks to extensive product ranges including compressors, compressor units to packages, controls and heat exchangers.

Contracting companies also have an important role to play when it comes to industrial refrigeration as the equipment in this industry is custom made. As well as the traditional companies working in the commercial refrigeration market, new international arrivals have entered the light industrial sector in the last few years with products like compressor units, racks and packages.

The outlook for the market remains positive in the short term given the state of the economy and the growth in industrial spending. The market is forecast to increase to $2.2 billion by 2023. The economy is expected to slow down compared with 2018, but will still show growth, as revenue received from the equipment will grow faster than the number of units sold.

1 October 2019

Comments

Already Registered?
Login
Not Yet Registered?
Register

The HVR Awards 2019 finalists are here!

The votes have been counted and the judges have had their say - meet the companies, products and professionals that have secured a place on this year’s list of finalists....

  25-Sep-2019

M Series range from Mitsubishi available using lower GWP R32

The M Series range of air conditioning units from Mitsubishi Electric has grown with the introduction of its new MFZ-KT range of R32 floor mounted systems....

  14-Oct-2019

Gastite CSST

A wide range of CSST, fittings and accessories are available for projects both large and small. Suitable for all three family gases, the CSST range includes sizes DN15 to DN50 in a choice of lengths. Custom lengths are available for large/multi-family projects. Contractor kits, which include a length of CSST, and two male fittings are also available. Gastite® high-performance XR2™ fittings have a patented Jacket-Lock® fitting which eliminates exposed steel beyond the nut. The range includes male and female fittings, tees, copper compression fittings and couplings. Accessories designed to make installation even easier are also available and include; cutters, utility knives and jacket repair tape.
  27-Sep-2019
Heating & Ventilating Review is the number one magazine in the HVAR industry. Don’t miss out, subscribe today!
Subcribe to HVR

Diary

HVR Awards 2019
EUA's Gas 2019
BSRIA Briefing
BESA NATIONAL CONFERENCE & AWARDS 2019
SkillFRIDGE Final