With the boom in the global cold chain industry, the demand for industrial refrigeration systems is growing rapidly across the globe. According to reports, the revenue generated from the sales of biotech products and biologic products surpassed $340 billion in 2019. Moreover, the adoption of special logistics solutions and technologies to maintain the quality of these temperature sensitive products, while transporting them from warehouses to clinics, hospitals, patients, and pharmacies all over the world is increasing rapidly.

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Due to the above-mentioned factors, the sales of industrial refrigeration systems are climbing, which is, in turn, propelling the expansion of the global industrial refrigeration systems market. As a result, the valuation of the market is predicted to grow from $26.8 billion in 2019 to $41.1 billion by 2030. Furthermore, the market is predicted to advance at a CAGR of 5.0% between 2020 and 2030. Depending on equipment type, the market is divided into compressors, condensers, evaporators, and controls.

Across the globe, the industrial refrigeration systems industry will demonstrate the highest revenue growth in the Asia-Pacific (APAC) region in the coming years, as per the forecast of P&S Intelligence, a market research company based in India. This is credited to the fact that this region is home to several industrialized and some of the most densely populated countries in the world. Moreover, many regional countries are making huge investments in the development of a world-class cold chain infrastructure.

This market research report provides a comprehensive overview of the market

* Future potential of the market through its forecast for the period 2020– 2030
* Major factors driving the market and their impact during the short, medium, and long terms
* Market restraints and their impact during the short, medium, and long terms
* Recent trends and evolving opportunities for the market participants
* Historical and the present size of the market segments and understand their comparative future potential
* Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings