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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)

January 2024 | 77 pages | ID: S0EEB27579CEEN
The Insight Partners

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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.
1. INTRODUCTION

1.1 The Insight Partners 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 Insight Partners
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)


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