Industrial Refrigeration Systems Market to Witness 5.8% CAGR


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The systems also maintain the nutritional content of the food items as well as increase their shelf life. In the coming years, these systems are expected to witness the fastest growth in demand by the chemicals & pharmaceuticals industry due to the rising requirement for pharmaceuticals across the globe, especially from the African region, as the countries in this region lack proper pharmaceutical industry setup.


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Industrial Refrigeration Systems Market

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Industrial Refrigeration Systems Market Market In 2017 about 1 million electric cars were sold globally with China emerging as the world’s largest electric car market as approximately 580000 electric cars were sold in the country in 2017. The requirement for electric vehicles is increasing due to the surging air pollution levels. In order to deal with this alarming situation the governments of various countries are implementing strict rules and regulations and initiatives subsidies. For instance the Chinese government allotted a subsidy of over 10000 per vehicle in 2017 because of which the adoption of electric vehicles rose by 42 from 2016 in the country. An electric motor is a vital component of electric vehicles and since the demand for electric vehicles is growing the requirement for electric motors is also increasing. In simple terms an electric motor converts electric energy into mechanical energy and can be powered by a direct current DC source or an alternate current AC source. The global electric motor market generated a revenue of 108.5 billion in 2017 and it is expected to reach 155.1 billion witnessing a CAGR of 6.2 in the near future. Various applications of electric motors are transportation household motor vehicles heating ventilation and air conditioning equipment and industrial machinery. Among all the applications the largest demand for electric motor was generated by motor vehicles due to the above-mentioned factor during 2013–2017. Since the need for electric vehicles to deal with the rising pollution levels is only going to increase in the future the application of motor vehicles will continue to create the highest demand for electric motors. 3 © PS Intelligence. All rights reserved

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Global Frequency Synthesizer Market © PS Intelligence. All rights reserved 3 Disclaimer: PS Intelligence always keeps customers interest at the core while carrying out research activities. PS Intelligence ensures the reliability and accuracy of information and data provided in its market research publications. However the information in publications is subject to fluctuations as they are based on primary interviews of officials from various companies or organizations. PS Intelligence is not responsible for any incorrect data provided to us by the key industry players of the concerned domain. The information or analysis in PS Intelligence publications represents opinion based on research and should not be interpreted as statements of fact. The information in this report were believed to be correct at the time of publication but cannot be guaranteed. PS Intelligence does not endorse any product service or vendor depicted in its research publications. All intellectual property including trademarks and copyrights belong to their respective owners and may be protected by copyright. Under no circumstance may these be reproduced in any form without the prior written agreement of its owner. An order for market research report is intended for internal use of the company alone and not for disclosure to third parties or any publication in general. No service report or part thereof provided by PS Intelligence can be reproduced republished resold revealed distributed circulated or sublicensed in any medium or form now realized or hereafter become realized including and not limited to all forms of optical-based media magnetic electronic or digital without a written permission from PS Intelligence. Kindly write to: B-13 Sector – 2 Noida U.P. – 201301 INDIA Contact No: +91 120 4541 337 US/Canada Toll-Free: 1-888-778-7886

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