Australia Industrial Refrigeration Market Size and Share - Forecast Trends and Growth Analysis Report (2025-2034)

Key Market Trends and Insights:

• Australian Capital Territory leads the Australia industrial refrigeration market and is expected to grow at a CAGR of 9.6% over the forecast period.
• By refrigerant type, CO2 is expected to record 9.3% CAGR over the forecast period.
• By application, the fruits and vegetables processing segment is projected to grow at a CAGR of 9.8% during the forecast period, due to growing demand for fresh produce and advanced preservation technologies.

Market Size and Forecast:

• Market Size in 2024: AUD 876.45 million
• Projected Market Size in 2034: AUD 1999.98 million
• CAGR from 2025 to 2034: 8.60%
• Dominant Regional Market: Australian Capital Territory

Regulatory measures are expected to drive innovation in the Australia industrial refrigeration market, leading to the development and adoption of more energy-efficient and environmentally friendly refrigeration technologies. By aligning with international standards and commitments, Australia aims to reduce its carbon footprint and contribute to global efforts in combating climate change. The implementation of these policies underscores the Australian government's commitment to achieving net-zero emissions and fostering a sustainable future of the Australia industrial refrigeration market.

Effective from July 1, 2025, the import and manufacture of small multi-head split air conditioning systems using refrigerants with a Global Warming Potential (GWP) over 750 was prohibited. This move is part of the government's broader strategy to phase out high-GWP refrigerants and encourage the use of more sustainable alternatives.

In addition to the refrigerant phase-out, the Australian Refrigeration Council (ARC) has updated the Australia and New Zealand Refrigerant Handling Codes of Practice 2025. These updated codes provide essential guidance for air conditioning and refrigeration technicians, ensuring safe and environmentally responsible handling of refrigerants. Compliance with these codes is mandatory for anyone holding a refrigerant handling licence or refrigerant trading authorisation through the ARC, which is likely to influence the Australia industrial refrigeration market growth.

Overall, these government regulations and sustainability initiatives are pivotal in shaping the future of Australia's refrigeration sector, ensuring that it aligns with environmental goals and contributes to a more sustainable and energy-efficient industry.

Australia Industrial Refrigeration Market Report Summary

Description

Value

Base Year

AUD million

2024

Historical Period

AUD million

2018-2024

Forecast Period

AUD million

2025-2034

Market Size 2024

AUD million

876.45

Market Size 2034

AUD million

1999.98

CAGR 2018-2024

Percentage

XX%

CAGR 2025-2034

Percentage

8.60%

CAGR 2025-2034 - Market by Region

Australian Capital Territory

9.6%

CAGR 2025-2034 - Market by Region

Victoria

8.8%

CAGR 2025-2034 - Market by Refrigerant Type

CO2

9.3%

CAGR 2025-2034 - Market by Application

Fruits and Vegetables Processing

9.8%

2024 Market Share by Region

Queensland

20.2%

Recent Developments

July 2025

Johnson Controls expanded its high-temperature heat pump lineup in Australia, introducing natural refrigerant-based solutions including ammonia, butane, and water-based systems. The move supports the growing demand for sustainable, energy-efficient industrial refrigeration and heating technologies, helping industries cut emissions while improving process efficiency.

June 2024

Cold Logic launched a world-first refrigeration system in Renmark that cools table grapes from 34°C to 1°C in just 40 minutes. This rapid cooling preserves fruit quality, extends shelf life, and allows same-day harvest, cooling, and shipping. With high humidity control and solar-powered operation, the technology boosts efficiency, sustainability, and profitability for grape growers and other fresh produce industries.

May 2024

Carrier Australia launched its XCT8 VRF solutions in Melbourne and Sydney, marking its entry into the VRF segment. The system delivers high energy efficiency, flexible installation, and top performance for commercial spaces, highlighting Carrier’s commitment to innovative climate solutions in Australia.

July 2023

Enel X Australia received AUD 3.7 million from ARENA to use commercial and industrial refrigeration in its Virtual Power Plant. The program shifts power use across supermarkets and warehouses without affecting product quality. This helps stabilize the grid, support renewables, and lower energy costs for participating businesses.

Key Drivers and Trends

Advanced cold chain monitoring and food loss reduction

The Australia industrial refrigeration market is significantly driven by the urgent need to reduce food loss caused by cold chain breakdowns, with around 1.93 million tonnes of fruit and vegetables wasted annually. In July 2025, Geotab introduced an upgraded Cold Chain solution featuring advanced hardware and enhanced software for real-time monitoring, multi-zone temperature control, and remote commands. These innovations support food producers and logistics operators in improving product integrity, ensuring compliance, and reducing waste, while addressing sustainability and efficiency challenges in temperature-sensitive supply chains.

Growth in Food Processing Industry

Australia's food and grocery manufacturing sector continues to grow, reinforcing its position as the nation's largest manufacturing industry. This, in turn, is significantly influencing the market growth. In August 2025, the Australian Food and Grocery Council reported a 5.3% increase in turnover to USD 173 billion and a 4.4% rise in employment. This growth underscores the need for efficient refrigeration systems to maintain product quality and safety throughout the food processing and distribution chain.

Growth in Pharmaceutical and Healthcare Sector

The pharmaceutical industry in Australia is experiencing significant expansion, with companies like Neuraxpharm establishing a presence to market their products across the country. In July 2025, Neuraxpharm announced the launch of Neuraxpharm Australia in Sydney, reflecting its intention to market its central nervous system (CNS) products throughout Australia. This expansion increases the demand for specialized refrigeration solutions to ensure the safe storage and transportation of temperature-sensitive medical products, thereby propelling the Australia industrial refrigeration market share.

Adoption of Natural and Eco-Friendly Refrigerants

Australia is increasingly adopting natural refrigerants such as ammonia and carbon dioxide in industrial refrigeration systems due to their low global warming potential and zero ozone depletion potential. In July 2024, the Australian government amended the Ozone Protection and Synthetic Greenhouse Gas Management Act to restrict the import and manufacture of certain refrigeration equipment, encouraging the use of low-GWP refrigerants. These policies aim to reduce greenhouse gas emissions and support the transition to sustainable refrigeration practices, further supporting the market growth.

Ongoing technological advancements

Technological advancements are playing a crucial role in enhancing the efficiency and effectiveness of industrial refrigeration products in Australia . In December 2023, Dometic introduced the NRX Series, a breakthrough in refrigeration efficiency, offering up to 25% less energy consumption compared to comparable refrigerator models. These innovations lead to reduced operational costs, improved system reliability, and extended equipment lifespan.

The EMR’s report titled “Australia Industrial Refrigeration Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:

Market Breakup by Component

• Compressors
• Reciprocating Compressors
• Screw Compressors
• Condensers
• Air-Cooled Condensers
• Water-Cooled Condensers
• Evaporative Condensers
• Evaporators
• Controls
• Vessels, Pumps, Valves and Auxiliary Equipment

Key Insight: Compressors hold the largest share in the component category of the market. They are important for moving refrigerants and keeping temperatures stable. Evaporators are growing the fastest, due to better energy efficiency and improved heat transfer. Controls are being used more to automate and monitor systems. Condensers, pumps, valves, vessels, and other equipment help keep systems running smoothly. The growth is supported by expanding cold chain logistics and increasing demand from food processing and pharmaceutical industries.

Market Breakup by Refrigerant Type

• Ammonia
• CO2
• Others

Key Insight: Ammonia is the most used refrigerant in Australia industrial refrigeration market. It is reliable and efficient for industrial use. CO₂ is the fastest-growing segment, because it is environmentally friendly and meets strict regulations. Other refrigerants, like HFC alternatives, are slowly being adopted as companies switch to greener options. Government rules and sustainability initiatives are helping industries move toward natural refrigerants, further propelling CO₂ category growth in the market.

Market Breakup by Application

• Refrigerated Warehouses
• Fruits and Vegetables Processing
• Beverage Processing
• Meat, Poultry, and Fish Processing
• Chemical, Petrochemical and Pharmaceutical
• Others

Key Insight: Fruits and vegetables processing is the largest segment in the Australia industrial refrigeration market, driven by growing demand for fresh produce and advanced preservation technologies. Beverage processing is growing notably, supported by rising production volumes and efficiency improvements. Refrigerated warehouses remain critical for storing perishable goods safely. Meat, poultry, and fish processing continues to expand, meeting food safety and quality standards. Chemical, petrochemical, and pharmaceutical applications are steadily adopting refrigeration solutions for temperature-sensitive products. Other applications, including dairy and frozen foods, also contribute to market growth by requiring reliable and energy-efficient systems.

Market Breakup by Region

• New South Wales
• Victoria
• Queensland
• Australian Capital Territory
• Western Australia
• Others

Key Insight: Australian Capital Territory leads the Australia industrial refrigeration market. It has strong industrial infrastructure and many manufacturing facilities. Victoria is the fastest-growing region, driven by increasing demand from manufacturers and processors. New South Wales and Queensland remain significant, with rising adoption of refrigeration systems. Western Australia and other regions are gradually growing, fueled by food processing, mining, and pharmaceutical industries requiring efficient refrigeration solutions.

Australia Industrial Refrigeration Market Share

By component, compressors to amass notable revenue

Compressors hold the largest share in the Australia industrial refrigeration market, supported by the driver of expanding cold chain logistics. They are essential for circulating refrigerants and keeping products stable during transport and storage, which is critical as Australia deals with long distances and climate variations. Reciprocating compressors serve smaller facilities, while screw compressors dominate large cold warehouses and processing units. With food and pharmaceutical industries relying heavily on reliable cooling, compressors remain the backbone of industrial refrigeration systems.

Evaporators are the fastest-growing segment, benefitting from the driver of energy efficiency and improved heat transfer. Industries such as fruit and vegetable processing, beverage production, and frozen food storage are adopting advanced evaporators to ensure consistent temperatures and reduce operating costs. Their ability to balance cooling performance with sustainability goals makes them highly attractive for modern installations. With ongoing demand for greener and more efficient technologies, evaporators are rapidly gaining preference in new projects.

By refrigerant type, ammonia to account for substantial market revenue

Ammonia holds the largest Australia industrial refrigeration market share, supported by its efficiency and proven reliability for large-scale operations. Its excellent thermodynamic properties allow industries such as food processing and pharmaceuticals to maintain stable cooling while controlling energy costs. With rising demand for long-term performance and cost-effective refrigeration, ammonia continues to be the preferred choice, strengthening its dominance across critical applications where uninterrupted temperature management is essential.

CO₂ is advancing as the fastest-growing refrigerant, driven by its environmentally friendly profile and compliance with strict regulations. Its natural composition makes it suitable for industries focused on sustainable operations, including cold storage, logistics, and retail. The shift away from synthetic refrigerants is accelerating its adoption, as companies prioritize low-emission and energy-efficient solutions. This momentum positions CO₂ as a key growth segment, steadily reshaping the market landscape toward greener alternatives.

By application, fruits and vegetables processing to pick up pace

Fruits and vegetables processing is contributing to the Australia industrial refrigeration market revenue, supported by the rising demand for fresh and preserved produce. Advanced refrigeration technologies help extend shelf life, maintain nutritional value, and reduce food losses, making them vital for processors and distributors. With growing consumer preference for healthy diets and sustainable food supply chains, this segment continues to dominate. Large-scale cold storage and processing facilities increasingly rely on efficient systems to keep up with demand across domestic and export markets.

Beverage processing is gaining strong momentum in Australia as large-scale investments enhance production capacity and efficiency. The launch of Suntory Oceania’s USD 400 million state-of-the-art facility in Queensland in July 2025, exemplifies this trend, with capacity to produce up to 50 million cases annually. Such expansions demand advanced refrigeration systems to ensure consistent product quality across diverse beverage categories. The rising focus on carbon-neutral operations further accelerates the adoption of energy-efficient refrigeration technologies, positioning beverage processing as one of the fastest-growing applications in the market.

Australia Industrial Refrigeration Market Regional Analysis

CAGR 2025-2034 - Market by

Region

Australian Capital Territory

9.6%

Victoria

8.8%

New South Wales

XX%

Queensland

XX%

Western Australia

XX%

Others

XX%

By region, Australian Capital Territory to lead the market

Australian Capital Territory leads the Australia industrial refrigeration market, supported by strong government initiatives that encourage innovation in energy and cooling technologies. In July 2025, the ACT Government awarded AUD 17 million in grants under the Energy Innovation Fund, backing projects that promote efficient heating and cooling, electrification, and decarbonisation. These initiatives not only foster sustainability but also boost the adoption of advanced refrigeration systems across industries. Such funding ensures the region remains at the forefront of energy-efficient industrial solutions.

Meanwhile, Victoria’s demonstrates notable growth in the Australia industrial refrigeration market strengthened by strong government support for energy-efficient electrification and industrial innovation. The Victorian Energy Innovation Fund has earmarked USD 10 million for industrial electrification in food and beverage manufacturing, encouraging adoption of greener refrigeration technologies. Additional grants like the On-Farm Energy Tier 1 and cold-room discounts under the Victorian Energy Upgrades program further push businesses to upgrade legacy systems to more efficient models. Together, these initiatives drive demand for state-of-the-art refrigeration solutions that align with sustainability and cost-reduction goals.

Competitive Landscape

Leading Australia industrial refrigeration companies are focusing on expanding their operational footprint and enhancing product portfolios. Companies are investing in research and development to introduce energy-efficient and high-performance refrigeration systems. Efforts include adopting advanced technologies, improving system automation, and enhancing reliability. Strategic partnerships and collaborations are also pursued to strengthen market presence and support infrastructure development. These initiatives aim to address increasing demand for sustainable and efficient refrigeration solutions.

Companies are prioritizing sustainability and adherence to regulatory standards within the Australia Industrial Refrigeration Market. Strategies include implementing eco-friendly refrigerants, reducing energy consumption, and improving overall system efficiency. Players are also developing solutions aligned with environmental policies to minimize carbon emissions. Continuous process optimization, staff training, and compliance with safety and environmental guidelines form key aspects of their efforts. The focus on sustainable operations supports long-term growth while meeting evolving regulatory and industry requirements.

Daikin Australia Pty Ltd.

Daikin Australia Pty Ltd., a subsidiary of Daikin Industries headquartered in Osaka, Japan and established in 1924, offers advanced industrial and commercial refrigeration solutions. The company provides a wide range of energy-efficient systems and components, catering to diverse industries across Australia.

Johnson Controls International PLC

Headquartered in Cork, Ireland, and founded in 1885, Johnson Controls International PLC is a global leader in building technologies, including industrial refrigeration solutions. The company delivers a broad portfolio of energy-efficient cooling systems and services, emphasizing sustainability and operational efficiency. With extensive reach across Australia, it has established a strong reputation.

Emerson Electric Co.

Emerson Electric Co., headquartered in St. Louis, Missouri, the United States and established in 1890, provides industrial refrigeration and automation solutions worldwide. The company focuses on delivering energy-efficient, reliable, and innovative refrigeration products that serve multiple industries. Its strategic presence in Australia supports large-scale projects and ensures compliance with environmental standards.

Danfoss (Australia) Pty Limited

Danfoss (Australia) Pty Limited, part of the global Danfoss group headquartered in Nordborg, Denmark and founded in 1933, specializes in advanced refrigeration and cooling technologies. The company offers a diverse product portfolio, including energy-efficient components and control solutions, for various industrial applications.

Other key players in the market are MAYEKAWA Australia Pty Ltd., Gordon Brothers Industries Pty Ltd., MBGSHOLDINGS Pty Ltd., Lennox International Inc., among others.

Key Highlights of the Australia Industrial Refrigeration Market Report:

• The report provides a detailed assessment of historical market performance and delivers accurate forecasts through {{YEAR}}, enabling stakeholders to understand past trends and anticipate future growth trajectories.
• It offers comprehensive insights into recent product innovations, technological advancements, and emerging solutions that are shaping the industrial refrigeration landscape across Australia.
• The study includes an in-depth competitive landscape, profiling leading domestic and international manufacturers, highlighting their strategic initiatives, product portfolios, and market positioning.
• Regional analysis identifies emerging opportunities, growth hotspots, and variations in market dynamics across different Australian states, helping investors and businesses pinpoint high-potential areas.
• An investment-focused outlook supported by quantitative and qualitative data provides guidance for decision-makers seeking to allocate resources effectively and maximize returns in the evolving industrial refrigeration sector.

Why Choose Expert Market Research?

• The report delivers trusted insights that are backed by extensive primary research, ensuring accuracy, reliability, and relevance for business and investment decisions.
• Actionable data is provided for strategic planning, enabling companies to make informed decisions regarding market entry, expansion, and competitive positioning.
• The study offers detailed region-wise and product-specific analysis, allowing stakeholders to understand nuanced trends and tailor strategies for targeted market segments.

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