The global industrial refrigeration system market is estimated to grow from $19.4 billion in 2021 to $25.1 billion by 2026, at a CAGR of 5.3 percent rate, according to a research report.

Market growth will be driven by factors such as the rising demand for compact refrigeration systems, increasing government support to strengthen cold chain infrastructure in developing countries and the growing inclination toward eco-friendly refrigerant-based refrigeration systems due to stringent regulatory policies.

The report found that the compressor segment of the industrial refrigeration system market is estimated to register the largest market share in 2026, and the market for CO2-based refrigeration systems is projected to register a higher CAGR during the forecast period.

The report, “Industrial Refrigeration System Market with COVID-19 Impact Analysis by Component, Application, Refrigerant Type, and Region – Global Forecast to 2026,” was published by MarketsandMarkets.