The Business Research Company’s Industrial Cooling Systems Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Industrial Cooling Systems Global Market Report 2023 evaluates industrial cooling systems market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global industrial cooling systems market is expected to grow from $17.18 billion in 2022 to $18.63 billion in 2023 at a compound annual growth rate (CAGR) of 8.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The industrial cooling systems market is expected to reach $24.69 billion in 2027 at a CAGR of 7.3%.
Rise in usage of cooling systems in automotive industry is expected to propel the growth of the industrial cooling systems market in the coming forward. Cooling systems, also referred as air conditioning or refrigeration systems, are devices or systems that remove heat from an area or material, lowering its temperature. Cooling systems are essential in the automotive industry for regulating the temperature of various components and ensuring maximum engine performance. For instance, in 2021, according to, The European Automobile Manufacturers Association, Global automotive production was 79.1 million, a 1.3% increase over 2020. Furthermore, in February 2023, according to a report published by the European Automobile Manufacturers’ Association (ACEA), a Belgium-based standards group of the automobile industry in the European Union, over 68 million passenger automobiles were produced globally in 2022, up 7.9% from the previous year. Therefore, the rise in usage of cooling systems in automotive is driving the industrial cooling systems market.
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The industrial cooling systems market segments in the report are:
1) By Type: Water Cooling System, Evaporative Cooling Systems, Air Cooling System, Hybrid Cooling System, Other Types
2) By Function: Transport Cooling, Stationary Cooling
3) By End-User: Power Generation, Industrial Manufacturing, Petrochemical Processing, Food Processing And Storage, Petroleum And Natural Gas Refining, Pharmaceuticals, Data Center, Other End-Users
The table of contents in TBRC’s industrial cooling systems market report includes:
1. Executive Summary
2. Industrial Cooling Systems Market Characteristics
3. Industrial Cooling Systems Market Trends And Strategies
4. Industrial Cooling Systems Market – Macro Economic Scenario
5. Industrial Cooling Systems Market Segmentation
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26. South America Industrial Cooling Systems Market
27. Brazil Industrial Cooling Systems Market
28. Middle East Industrial Cooling Systems Market
29. Africa Industrial Cooling Systems Market
30. Industrial Cooling Systems Market Competitive Landscape And Company Profiles
Top Major Players:
- Schneider Electric SE
- ABB Ltd,
- DAIKIN Industries Ltd.
- Johnson Controls International plc
- Carrier Corporation
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