According to the latest "2023 China Industrial refrigeration industry Annual Research Report" released by industry Online, China's industrial refrigeration equipment sales in 2023 was 9.73 billion yuan, an increase of 10.2%, and it is expected that by 2024, the market size of China's industrial refrigeration equipment will exceed 10 billion yuan.
In the context of "dual carbon", China's industrial refrigeration field has ushered in a period of rapid growth, with a compound growth rate of 9.7% from 2019 to 2023.
From the perspective of subdivided application scenarios, industrial freezing can be divided into three scenarios: "energy chemical industry, food processing, and special applications". In 2023, due to the national energy investment continues to remain at a high level, and the impact of the continuous release of orders in the previous year such as new energy and lithium electricity, the application of energy and chemical industry has grown most rapidly, with a year-on-year growth rate of 15.4%; The growth rates for food processing and special applications were 6.2% and 2.7%, respectively.
In terms of product structure, industrial freezing equipment mainly includes cold (salt) water units, compression (condensation) units, quick-freezing equipment, industrial ice making equipment, etc., and the four products have varying degrees of growth in 2023. Among them, driven by the growth of demand for energy and chemical industry scene equipment, cold (salt) water units saw the highest growth rate, an increase of 14.5%.
At present, under the "double carbon" goal, a series of new and reformed needs brought about by industrial restructuring are still growing. With the rapid landing of related projects in the past two years, while the market scale continues to expand, the industry's new order projects began to shrink, and the industry's incremental space is limited in the short term. Industry online is expected that the scale of the industrial refrigeration industry will reach 10.2 billion yuan in 2024, and the growth rate will narrow down to 4.8%.
In terms of application scenarios, after the rapid growth of the energy and chemical industry in the first two years, the industry demand will continue to grow, but the growth rate will be narrowed in the short term; After the adjustment of food processing applications for nearly two years, market demand will gradually return to a stable, and the proportion of demand will steadily rebound.
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