The study utilized four major activities to estimate the refrigeration coolers market size. Exhaustive secondary research was conducted to gather information on the market and its peer and parent markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the total market size. Finally, market breakdown and data triangulation methods were utilized to estimate the market size for different segments and subsegments.
Secondary Research
The study utilized four major activities to estimate the refrigeration coolers market size. Exhaustive secondary research was conducted to gather information on the market and its peer and parent markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the total market size. Finally, market breakdown and data triangulation methods were utilized to estimate the market size for different segments and subsegments.
List of key secondary sources
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Source
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Web Link
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American Society of Heating, Refrigerating, and Air-Conditioning Engineers (ASHRAE)
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https://www.ashrae.org/
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Air Conditioning Contractors of America (ACCA)
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https://www.acca.org/
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Air Conditioning, Heating, and Refrigeration Institute (AHRI)
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https://www.ahrinet.org/
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The American National Standards Institute
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www.ansi.org
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National Institute of Standards and Technology
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www.nist.gov
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Asia Industrial Gases Association
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www.asiaiga.org
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Primary Research
Primary interviews were conducted to gather insights on market statistics, revenue data, market breakdowns, size estimations, and forecasting. Additionally, primary research was used to comprehend the various technology, type, end-use, and regional trends. Interviews with stakeholders from the demand side, including CIOs, CTOs, CSOs, and customer/end-user installation teams using refrigeration coolers offerings and processes, were also conducted to understand their perspective on suppliers, products, component providers, and their current and future use of refrigeration coolers, which will impact the overall market. Several primary interviews were conducted across major countries in North America, Europe, Asia Pacific and RoW.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
In the complete market engineering process, top-down and bottom-up approaches and several data triangulation methods have been used to estimate and forecast the overall market segments and subsegments listed in this report. Key players in the market have been identified through secondary research, and their market shares in the respective regions have been determined through primary and secondary research. This entire procedure includes the study of annual and financial reports of the top market players and extensive interviews for key insights (quantitative and qualitative) with industry experts (CEOs, VPs, directors, and marketing executives).
All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources. All the parameters affecting the markets covered in this research study have been accounted for, viewed in detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data. This data has been consolidated and supplemented with detailed inputs and analysis from MarketsandMarkets and presented in this report. The following figure represents this study's overall market size estimation process.
Refrigeration Coolers Market : Top-Down and Bottom-Up Approach
Data Triangulation
Once the overall size of the refrigeration coolers market was determined using the methods described above, it was divided into multiple segments and subsegments. Market engineering was performed for each segment and subsegment using market breakdown and data triangulation methods, as applicable, to obtain accurate statistics. Various factors and trends from the demand and supply sides were studied to triangulate the data. The market was validated using both top-down and bottom-up approaches.
Market Definition
Refrigeration is a process in which refrigerant, a compound typically found in either a fluid or gaseous state, is moved from four different parts to be turned into cool air. It is the process of lowering the temperature of an area more than its surrounding temperature by extracting an amount of heat from it.
In this study, we have covered heat exchangers for cooling processes in the form of refrigeration coolers in several applications such as retail, food & beverage, healthcare, and so on. In refrigeration, heat exchangers are used as evaporators, compressors, and condensers. An evaporator is one of the critical components in refrigeration coolers, as it is directly involved in actual cooling. The evaporator consists of finned tubes that absorb surrounding heat, which helps the liquid refrigerant inside this tube to boil until the refrigerant leaves the evaporator as a superheated gas. Evaporators generally comprise heat exchange surfaces that transfer heat from the substance to be cooled to the refrigerant, thereby removing the heat from the substance. Therefore, the refrigerant gets heated while the substance gets cooled. Fins and tubes are made of metals with high thermal conductivity to maximize heat transfer. A few major manufacturers of evaporators in the refrigeration coolers market are Johnson Controls (US), Evapco (US), Lennox International (US), and Guntner (Germany).
Stakeholders
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Refrigeration material and component providers
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Refrigeration cooler integrators and installers
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Refrigeration automation and software providers
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Consulting companies
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Refrigeration related associations, organizations, forums, and alliances
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Government and corporate bodies
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Research institutes and organizations
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Venture capitalists, private equity firms, and startup companies
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Distributors and traders
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OEMs
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End users
Report Objectives
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To define, describe, and forecast the refrigeration coolers market based offering, refrigerant, mobility,industry, and region
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To forecast the size of the market segments for four major regions—North America, Europe, Asia Pacific (APAC)
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To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
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To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the total market
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To study the complete value chain and allied industry segments and perform a market value chain analysis.
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To provide ecosystem analysis, case study analysis, patent analysis, technology analysis, pricing analysis, Porter’s five forces analysis, key stakeholders and buying criteria, key conferences and events, and regulatory bodies, government agencies, and regulations pertaining to the market
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To strategically profile the key players and comprehensively analyze their market shares and core competencies2.
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Analyzing the opportunities in the market for stakeholders and describing the market's competitive landscape.
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To analyze competitive developments such as collaborations, agreements, contracts, partnerships, mergers & acquisitions, product launches, and research & development (R&D) in the market
Available Customizations
With the given market data, MarketsandMarkets offers customizations according to the specific requirements of companies. The following customization options are available for the report:
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Detailed analysis and profiling of additional market players (up to 5)
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Additional country-level analysis of the refrigeration coolers market
Product Analysis
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The product matrix provides a detailed comparison of the product portfolio of each company in the refrigeration coolers market.
HIGHEST CAGR MARKET IN 2024-2029
CHINA FASTEST GROWING MARKET IN THE REGION
Growth opportunities and latent adjacency in Refrigeration Coolers Market