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Industrial Refrigeration Systems Market 2020 - 2027 Wed Mar 17 09:09:40 CST 2021 Source: www.refindustry.com Collect Reading Volume: 2159
Share to Weixin X The global industrial refrigeration systems market size was valued at USD 19.55 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 4.6% from 2020 to 2027. The increasing demand for industrial refrigeration systems across the FMCG sector is majorly driving market growth. This is due to an increase in the use of processed and packaged food and drinks in the developed and developing nations and the prevention of spoilage of semi-processed food and beverages. Moreover, the growing government support to strengthen the cold chain infrastructure and rising demand for compact and innovative refrigeration systems is expected to drive demand over the forecast period. In 2020, the market is predicted to have a substantial impact due to the COVID-19