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As per the report published by The Brainy Insights, the global industrial cooling systems market is expected to grow from USD 17.45 billion in 2022 to USD 32.48 billion by 2032, at a CAGR of 6.41% during the forecast period 2023-2032. Asia-Pacific became the world’s largest market for industrial cooling systems in 2022, with a share of 35.76% and an estimated value of USD 6.24 billion. The demand for effective cooling systems is expected to increase as the food and beverage industries grow in countries like China, India, Japan, South Korea, and Indonesia. The need for high-quality food, the desire for more products to be sold online, and the acceptance of these technologies all promote the industrial cooling system market.
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Leading companies in the industry include Baltimore Aircoil Company, Emerson Electric Co., Hamon Group S.A., Schneider Electric SE, Star Cooling Tower Pvt Ltd., Airedale International Air Conditioning Ltd., GEA Group Aktiengesellschaft, SPX Corporation, Johnson Controls International PLC, Brentwood Industries, Inc. among others, offer more significant opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.
The global industrial cooling systems market has been segmented based on product type, function, and region. The product type segment is divided into evaporative cooling, hybrid cooling, air cooling, and water cooling. The evaporative cooling segment had the highest market share of 28.65% and was valued at USD 4.99 billion in 2022 in the industrial cooling systems market. The cooling system creates cool-tempered air by converting hot, dry air through a series of evaporative processes. Due to their greater economic value and efficiency than refrigerated systems, evaporative cooling systems led the market in 2022, accounting for the most prominent global industrial cooling system market share. The function segment is divided into stationary cooling and transport cooling. The stationary cooling segment had the highest market share of 58.43% and was valued at USD 10.19 billion in 2022 in the industrial cooling systems market. This is due to rising middle-class income levels and increasing internet usage in developing nations.
The industries must determine the specific cooling parameters in terms of quantity, temperature, and requirement. Overcooling has two effects: increased waste and decreased efficiency. Thus, steps like combining the two current cooling systems into one more extensive system can be considered to save waste and increase efficiency. System dependability and operational effectiveness will rise as a result. The cooling load can also be decreased by improving insulation, reducing infiltration, and lowering heat gains from lighting and process equipment. When cold room doors are regularly opened, installing plastic strip curtains, for instance, can help keep warm air out and let cold air in a while reducing operating costs by up to 30%.
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