South & Central America Industrial Refrigeration Equipment Market Forecast to 2030

South & Central America Industrial Refrigeration Equipment Market Forecast to 2030

South & Central America Industrial Refrigeration Equipment Market Forecast to 2030 – Regional Analysis – by Type (Mechanical-Compression Refrigeration Systems, Evaporative Cooling, Absorption, Thermoelectric); Refrigerant Type (Ammonia – R717, Carbon dioxide (CO2) – R744, Hydrocarbons – HCs); and Application (Food and Beverages, Pharmaceutical, Chemical and Petrochemical, District Cooling, Data Centres, Electricity Production, and Others)

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Description

The South & Central America industrial refrigeration equipment market is expected to grow from US$ 626.74 million in 2022 to US$ 936.48 million by 2030. It is estimated to grow at a CAGR of 5.1% from 2022 to 2030.

Growing Popularity of CO2 and NH3-based Systems Fuels South & Central America Industrial Refrigeration Equipment Market

Natural refrigerants are being adopted for their environmental benefits, energy efficiency, and regulatory compliance. CO2 (carbon dioxide) and NH3 (ammonia)-based systems are considered natural refrigerants with low Global Warming Potential (GWP) compared to synthetic refrigerants such as HFCs. As environmental regulations become strict, industries are adopting more environmentally friendly solutions to reduce their carbon footprint and comply with regulations such as the Montreal Protocol. CO2 and NH3-based systems are known for their excellent thermodynamic properties, thereby offering high energy efficiency. These systems can operate effectively across a wide range of temperatures, making them suitable for various industrial applications, such as cold storage, food processing, and petrochemical industries. Also, CO2 and NH3 have good heat transfer properties, enabling them to achieve effective cooling and freezing processes. The use of properly designed and maintained systems with these refrigerants can offer safe operation.

Furthermore, industry associations, governments, and organizations are actively promoting the adoption of natural refrigerants. They provide resources, training, and best practices to help industries successfully transition to CO2 and NH3-based systems. Hence, the growing popularity of CO2 and NH3-based systems is likely to generate lucrative opportunities for the industrial refrigeration equipment market growth during the forecast period.

South & Central America Industrial Refrigeration Equipment Market Overview

South America is known for its agricultural and food production. As the population grows and urbanization accelerates, the demand for processed and frozen foods increases. Industrial refrigeration equipment is essential for preserving these perishable products’ freshness, quality, and safety throughout the supply chain. Many South American countries export agricultural products, including fruits, vegetables, seafood, and meat. Efficient industrial refrigeration systems are necessary to meet international standards and ensure product quality during transport. According to Encyclopedia Britannica, Inc., South America’s major exports are mostly primary commodities, including foodstuffs and fuels, plant products, and raw materials. The first group’s most important commodities are sugar, beef, bananas, cocoa, coffee, tobacco, corn, and wheat. Also, consumers are becoming more health-conscious and seeking fresh, minimally processed foods. This trend is driving the demand for refrigerated storage and display solutions in supermarkets, convenience stores, and food service outlets.

South & Central America Industrial Refrigeration Equipment Market Revenue and Forecast to 2030 (US$ Million)

South & Central America Industrial Refrigeration Equipment Market Segmentation

The South & Central America industrial refrigeration equipment market is segmented into type, refrigerant type, application, and country.

Based on type, the South & Central America industrial refrigeration equipment market is segmented into mechanical-compression refrigeration systems, evaporative cooling, absorption, thermoelectric. The mechanical-compression refrigeration systems segment registered the largest South & Central America industrial refrigeration equipment market share in 2022.

Based on refrigerant type, the South & Central America industrial refrigeration equipment market is segmented into ammonia – R717, carbon dioxide (CO2) – R744, and hydrocarbons – HCs. The ammonia – R717 segment held the largest South & Central America industrial refrigeration equipment market share in 2022.

Based on application, the South & Central America industrial refrigeration equipment market is segmented into food and beverages, pharmaceutical, chemical and petrochemical, district cooling, data centres, electricity production, and others. The food and beverages segment held the largest South & Central America industrial refrigeration equipment market share in 2022.

Based on country, the South & Central America industrial refrigeration equipment market has been categorized into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America industrial refrigeration equipment market in 2022.

Johnson Controls International Plc, Danfoss AS, Honeywell International Inc, Evapco Inc, BITZER Kuhlmaschinenbau GmbH, and Carrier Global Corp are some of the leading companies operating in the industrial refrigeration equipment market in the region.

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At 5.1% CAGR, the South & Central America Industrial Refrigeration Equipment Market is Speculated to be Worth US$ 936.48 million by 2030, says The Research Team’

According to The Research Team’ research, the South & Central America industrial refrigeration equipment market was valued at US$ 626.74 million in 2022 and is expected to reach US$ 936.48 million by 2030, registering a CAGR of 5.1% from 2022 to 2030. Smart and connected refrigeration systems and growing inclination towards eco-friendly refrigerant-based refrigeration system are among the critical factors attributed to the South & Central America industrial refrigeration equipment market expansion.

Smart and connected systems integrate advanced technologies such as the Internet of Things (IoT), data analytics, and automation to optimize industrial refrigeration equipment’s efficiency, performance, and management. Smart systems enable real-time monitoring and control of refrigeration equipment from any location. This capability allows operators and technicians to remotely monitor parameters such as temperature, pressure, and energy consumption. It facilitates quick detection of anomalies and enables proactive maintenance, reducing downtime and improving system reliability. Connected refrigeration systems collect a huge volume of data that can be analyzed to gain insights into equipment performance and energy usage. Advanced analytics and machine learning algorithms can predict potential faults and suggest maintenance schedules, preventing expensive breakdowns of the equipment and optimizing maintenance routines. Smart systems optimize the energy consumption of industrial refrigeration equipment by adjusting settings based on real-time demand and external factors, including temperature. This reduces energy costs and minimizes environmental impact. Smart refrigeration systems can be integrated into a wide range of building management systems, allowing for centralized control and coordination of various equipment within a facility. This integration ensures seamless communication between different systems, leading to improved overall operational efficiency. Various companies are providing smart and connected refrigeration systems and solutions, such as Facilio.Inc, Danfoss, etc. Therefore, the launch of smart and connected refrigeration systems is expected to fuel the industrial refrigeration equipment market growth during the forecast period.

On the contrary, high initial investment hurdles the growth of South & Central America industrial refrigeration equipment market.

Based on type, the South & Central America industrial refrigeration equipment market is segmented into mechanical-compression refrigeration systems, evaporative cooling, absorption, thermoelectric. The mechanical-compression refrigeration systems segment held 39.8% share of South & Central America industrial refrigeration equipment market in 2022, amassing US$ 249.66 million. It is projected to garner US$ 404.91 million by 2030 to expand at 6.2% CAGR during 2022–2030.

Based on refrigerant type, the South & Central America industrial refrigeration equipment market is segmented into ammonia – R717, carbon dioxide (CO2) – R744, and hydrocarbons – HCs. The ammonia – R717 segment held 68.6% share of South & Central America industrial refrigeration equipment market in 2022, amassing US$ 430.15 million. It is projected to garner US$ 626.06 million by 2030 to expand at 4.8% CAGR during 2022–2030.

Based on application, the South & Central America industrial refrigeration equipment market is segmented into food and beverages, pharmaceutical, chemical and petrochemical, district cooling, data centres, electricity production, and others. The food and beverages segment held 30.3% share of South & Central America industrial refrigeration equipment market in 2022, amassing US$ 190.14 million. It is projected to garner US$ 329.77 million by 2030 to expand at 7.1% CAGR during 2022–2030.

Based on country, the South & Central America industrial refrigeration equipment market has been categorized into Argentina, Brazil, and the Rest of South & Central America. Our regional analysis states that Brazil captured 61.4% share of South & Central America industrial refrigeration equipment market in 2022. It was assessed at US$ 384.66 million in 2022 and is likely to hit US$ 606.56 million by 2030, exhibiting a CAGR of 5.9% during 2022–2030.

Key players operating in the South & Central America industrial refrigeration equipment market are Johnson Controls International Plc, Danfoss AS, Honeywell International Inc, Evapco Inc, BITZER Kuhlmaschinenbau GmbH, and Carrier Global Corp, among others.

In Feb 2023, Honeywell announced that Food City has installed Honeywell’s Solstice N71 (R-471A) refrigerant in its Kodak, Tennessee, store. The solution cools the store’s beverage line-up while helping increase energy efficiency and reduce environmental impact. In June 2023, Johnson Controls, the global leader for smart, healthy and sustainable buildings, introduced its new FRICK Freezer Penthouse Evaporator-Retrofit (FPHE-R) model that includes design updates on proven technology to improve ease of installation and service for contractors while maintaining product efficiency.

o Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the South & Central America industrial refrigeration equipment market.
o Highlights key business priorities in order to assist companies to realign their business strategies
o The key findings and recommendations highlight crucial progressive industry trends in the South & Central America industrial refrigeration equipment market, thereby allowing players across the value chain to develop effective long-term strategies
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
o Scrutinize in-depth South & Central America market trends and outlook coupled with the factors driving the industrial refrigeration equipment market, as well as those hindering it
o Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution

TABLE OF CONTENTS

1. Introduction
1.1 The Research Team Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. South & Central America Industrial Refrigeration Equipment Market Landscape
4.1 Overview
4.2 Ecosystem Analysis
5. South & Central America Industrial Refrigeration Equipment Market – Key Industry Dynamics
5.1 South & Central America Industrial Refrigeration Equipment Market – Key Industry Dynamics
5.2 Market Drivers
5.2.1 Increasing Demand for Cold Chain Infrastructure
5.2.2 Growing Inclination Towards Eco-friendly Refrigerant-based Refrigeration System
5.2.3 Growing Pharma Industry
5.3 Market Restraints
5.3.1 High Initial Investment
5.3.2 Stricter Regulations Regarding Use of Refrigerants
5.4 Market Opportunities
5.4.1 Growing Popularity of CO2 and NH3-based Systems
5.5 Future Trends
5.5.1 Smart and Connected Refrigeration Systems
5.6 Impact of Drivers and Restraints:
6. Industrial Refrigeration Equipment Market – South & Central America Market Analysis
6.1 South & Central America Industrial Refrigeration Equipment Market Revenue (US$ Million), 2022 – 2030
6.2 South & Central America Industrial Refrigeration Equipment Market Forecast and Analysis
7. South & Central America Industrial Refrigeration Equipment Market Analysis – Type
7.1 Mechanical-Compression Refrigeration Systems
7.1.1 Overview
7.1.2 Mechanical-Compression : South & Central America Industrial Refrigeration Equipment Market, Revenue and Forecast to 2030 (US$ Million)
7.2 Evaporative Cooling
7.2.1 Overview
7.2.2 Evaporative Cooling : South & Central America Industrial Refrigeration Equipment Market, Revenue and Forecast to 2030 (US$ Million)
7.3 Absorption
7.3.1 Overview
7.3.2 Absorption : South & Central America Industrial Refrigeration Equipment Market Revenue and Forecast to 2030 (US$ Million)
7.4 Thermoelectric
7.4.1 Overview
7.4.2 Thermoelectric : South & Central America Industrial Refrigeration Equipment Market Revenue and Forecast to 2030 (US$ Million)
8. South & Central America Industrial Refrigeration Equipment Market Analysis – Refrigerant Type
8.1 Ammonia – R717
8.1.1 Overview
8.1.2 Ammonia – R717: South & Central America Industrial Refrigeration Equipment Market Revenue, and Forecast to 2030 (US$ Million)
8.2 Carbon dioxide (CO2) – R744
8.2.1 Overview
8.2.2 Carbon dioxide (CO2) – R744 : South & Central America Industrial Refrigeration Equipment Market Revenue, and Forecast to 2030 (US$ Million)
8.3 Hydrocarbons – HCs
8.3.1 Overview
8.3.2 Hydrocarbons – HCs : South & Central America Industrial Refrigeration Equipment Market Revenue, and Forecast to 2030 (US$ Million)
9. South & Central America Industrial Refrigeration Equipment Market Analysis – Application
9.1 Food and Beverages
9.1.1 Overview
9.1.2 Food and Beverages : South & Central America Industrial Refrigeration Equipment Market Revenue, and Forecast to 2030 (US$ Million)
9.2 Pharmaceutical
9.2.1 Overview
9.2.2 Pharmaceutical : South & Central America Industrial Refrigeration Equipment Market Revenue, and Forecast to 2030 (US$ Million)
9.3 Chemical and Petrochemical
9.3.1 Overview
9.3.2 Chemical and Petrochemical : South & Central America Industrial Refrigeration Equipment Market Revenue, and Forecast to 2030 (US$ Million)
9.4 District Cooling
9.4.1 Overview
9.4.2 District Cooling : South & Central America Industrial Refrigeration Equipment Market Revenue, and Forecast to 2030 (US$ Million)
9.5 Data Centers
9.5.1 Overview
9.5.2 Data Centers : South & Central America Industrial Refrigeration Equipment Market Revenue, and Forecast to 2030 (US$ Million)
9.6 Electricity Production
9.6.1 Overview
9.6.2 Electricity Production : South & Central America Industrial Refrigeration Equipment Market Revenue, and Forecast to 2030 (US$ Million)
9.7 Others
9.7.1 Overview
9.7.2 Others : South & Central America Industrial Refrigeration Equipment Market Revenue, and Forecast to 2030 (US$ Million)
10. South & Central America Industrial Refrigeration Equipment Market – Country Analysis
10.1 South America Industrial Refrigeration Equipment Market Overview
10.1.1 South America Industrial Refrigeration Equipment Market Revenue and Forecasts and Analysis – By Country
10.1.1.1 South America Industrial Refrigeration Equipment Market Revenue and Forecasts and Analysis – By Country
10.1.1.2 Brazil Industrial Refrigeration Equipment Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.1.2.1 Brazil Industrial Refrigeration Equipment Market Breakdown by Type
10.1.1.2.2 Brazil Industrial Refrigeration Equipment Market Breakdown by Refrigerant Type
10.1.1.2.3 Brazil Industrial Refrigeration Equipment Market Breakdown by Application
10.1.1.3 Argentina Industrial Refrigeration Equipment Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.1.3.1 Argentina Industrial Refrigeration Equipment Market Breakdown by Type
10.1.1.3.2 Argentina Industrial Refrigeration Equipment Market Breakdown by Refrigerant Type
10.1.1.3.3 Argentina Industrial Refrigeration Equipment Market Breakdown by Application
10.1.1.4 Rest of SAM Industrial Refrigeration Equipment Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.1.4.1 Rest of SAM Industrial Refrigeration Equipment Market Breakdown by Type
10.1.1.4.2 Rest of SAM Industrial Refrigeration Equipment Market Breakdown by Refrigerant Type
10.1.1.4.3 Rest of SAM Industrial Refrigeration Equipment Market Breakdown by Application
11. Competitive Landscape
11.1 Heat Map Analysis by Key Players
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 New Product Development
12.4 Merger and Acquisition
13. Company Profiles
13.1 Johnson Controls International Plc
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Danfoss AS
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Honeywell International Inc
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Evapco Inc
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 BITZER Kuhlmaschinenbau GmbH
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Carrier Global Corp
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
14. Appendix
14.1 About the Research Team
14.2 Word Index

LIST OF TABLES

Table 1. South & Central America Industrial Refrigeration Equipment Market Segmentation
Table 2. South & Central America Industrial Refrigeration Equipment Market Revenue and Forecasts To 2030 (US$ Million)
Table 3. South America Industrial Refrigeration Equipment Market Revenue and Forecasts To 2030 (US$ Mn) – By Country
Table 4. Brazil Industrial Refrigeration Equipment Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 5. Brazil Industrial Refrigeration Equipment Market Revenue and Forecasts To 2030 (US$ Mn) – By Refrigerant Type
Table 6. Brazil Industrial Refrigeration Equipment Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 7. Argentina Industrial Refrigeration Equipment Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 8. Argentina Industrial Refrigeration Equipment Market Revenue and Forecasts To 2030 (US$ Mn) – By Refrigerant Type
Table 9. Argentina Industrial Refrigeration Equipment Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 10. Rest of SAM Industrial Refrigeration Equipment Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 11. Rest of SAM Industrial Refrigeration Equipment Market Revenue and Forecasts To 2030 (US$ Mn) – By Refrigerant Type
Table 12. Rest of SAM Industrial Refrigeration Equipment Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 13. Heat Map Analysis By Key Players
Table 14. List of Abbreviation

LIST OF FIGURES

Figure 1. South & Central America Industrial Refrigeration Equipment Market Segmentation, By Country
Figure 2. Ecosystem: Industrial Refrigeration Equipment Market
Figure 3. Impact Analysis of Drivers and Restraints
Figure 4. South & Central America Industrial Refrigeration Equipment Market Revenue (US$ Million), 2022 – 2030
Figure 5. South & Central America Industrial Refrigeration Equipment Market Share (%) – Type, 2022 and 2030
Figure 6. Mechanical-Compression : South & Central America Industrial Refrigeration Equipment Market Revenue and Forecasts To 2030 (US$ Million)
Figure 7. Evaporative Cooling: South & Central America Industrial Refrigeration Equipment Market Revenue and Forecasts To 2030 (US$ Million)
Figure 8. Absorption: South & Central America Industrial Refrigeration Equipment Market Revenue and Forecasts To 2030 (US$ Million)
Figure 9. Thermoelectric: South & Central America Industrial Refrigeration Equipment Market Revenue and Forecasts To 2030 (US$ Million)
Figure 10. South & Central America Industrial Refrigeration Equipment Market Share (%) – Refrigerant Type, 2022 and 2030
Figure 11. Ammonia – R717 : South & Central America Industrial Refrigeration Equipment Market Revenue and Forecasts To 2030 (US$ Million)
Figure 12. Carbon dioxide (CO2) – R744 : South & Central America Industrial Refrigeration Equipment Market Revenue and Forecasts To 2030 (US$ Million)
Figure 13. Hydrocarbons – HCs : South & Central America Industrial Refrigeration Equipment Market Revenue and Forecasts To 2030 (US$ Million)
Figure 14. South & Central America Industrial Refrigeration Equipment Market Share (%) – Refrigerant Type, 2022 and 2030
Figure 15. Food and Beverages: South & Central America Industrial Refrigeration Equipment Market Revenue and Forecasts To 2030 (US$ Million)
Figure 16. Pharmaceutical: South & Central America Industrial Refrigeration Equipment Market Revenue and Forecasts To 2030 (US$ Million)
Figure 17. Chemical and Petrochemical: South & Central America Industrial Refrigeration Equipment Market Revenue and Forecasts To 2030 (US$ Million)
Figure 18. District Cooling : South & Central America Industrial Refrigeration Equipment Market Revenue and Forecasts To 2030 (US$ Million)
Figure 19. Data Centers : South & Central America Industrial Refrigeration Equipment Market Revenue and Forecasts To 2030 (US$ Million)
Figure 20. Electricity Production : South & Central America Industrial Refrigeration Equipment Market Revenue and Forecasts To 2030 (US$ Million)
Figure 21. Others: South & Central America Industrial Refrigeration Equipment Market Revenue and Forecasts To 2030 (US$ Million)
Figure 22. Industrial Refrigeration Equipment Market Revenue, by Key Countries, (2022) (US$ Million)
Figure 23. Industrial Refrigeration Equipment Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 24. Brazil Industrial Refrigeration Equipment Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 25. Argentina Industrial Refrigeration Equipment Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 26. Rest of SAM Industrial Refrigeration Equipment Market Revenue and Forecasts To 2030 (US$ Mn)

The List of Companies – South & Central America Industrial Refrigeration Equipment Market

o Johnson Controls International Plc
o Danfoss AS
o Honeywell International Inc
o Evapco Inc
o BITZER Kuhlmaschinenbau GmbH
o Carrier Global Corp

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