Press Releases

The global commercial refrigeration equipment market is expected to grow at a CAGR of 2.9% during the forecast period with its market size predicted to reach USD 34,580.3 million by 2030. The increasing demand for ready-to-eat food and the mounting number of organized retail shops are the major factors leading to the high demand of commercial refrigeration equipment in the global market.

COVID-19 has hit the commercial refrigeration industry hard. The production and demand has dipped, operations shut and supply have been disrupted. Manufacturers have reduced CAPEX (capital and expenditure) and capacity to 30-50%. Workforce shortages are one of the major cause for the reduction. A decline in production has been evident across the region and North America and Europe are among hardest hit by Corona following Asia-Pacific region. The demand for commercial refrigeration equipment have declined as customer has been cautious in making new purchases. The COVID-19 impact has been prevalent in 2020 and its impact will be witnessed in the coming years.

Increasing utilization and demand for refrigeration systems in various grocery stores, supermarkets, convenience stores and speciality food stores

Increasing utilization and demand for refrigeration systems in various grocery stores, super markets, convenience stores and speciality food stores are the key trends observed in the commercial refrigeration equipment market across the globe. Furthermore, growth in the food service industry has also lead to increasing acceptance of the refrigeration system in restaurants, commercial kitchens and cafeteria. Customization of the refrigeration system according to consumer demand is another trend witnessed in the commercial refrigeration equipment industry.

Global Commercial Refrigeration Equipment Market Segmentation Analysis

Display cases to witness the fastest growth in the commercial refrigeration equipment market

Based on equipment type, the commercial refrigeration equipment market is segmented into walk-in coolers, beverage refrigeration, transportation refrigeration equipment, display cases, parts, ice making machineries, and others. The other equipment includes vending machines, cryogenic equipment, and liquid chillier. Of all the equipment type, the highest growth in the demand for the display cases has been observed over the last five years which is anticipated to remain the highest among all commercial refrigeration equipment types during the forecast period. The old infrastructures of the food and beverages shops and restaurants in the emerging markets are being upgraded which has been one of the major reasons for high growth of display cases shipments, globally.

Browse Market Insight and In-depth TOC on "Global Commercial Refrigeration Equipment Market – Analysis and Forecast (2022-2030)"

Of all, beverage refrigeration category holds the largest share in the market in 2019.

The walk-in coolers hold the largest share in the market since walk-in coolers helps the users in reducing operating costs, convenience and flexibility. Furthermore, these coolers are considered to be most efficient alternative for reducing electricity cost and helps in keeping food fresh for longer time span.

The walk-in coolers category has been further categorized into remote condensing unit, packaged unit, and remote plant. Among these, packaged unit holds the largest share in the market during the historical period, and is expected to continue holding the largest share, globally, in future.

The display cases category has been further bifurcated into plugin cases and remote cases. Among these two, plug in cases category holds a larger share in the market.

The beverage refrigeration category has been further bifurcated into beverage cooling & dispensing units, drinking fountains, beer dispensing units, soda fountain equipment, and others. Of all, the beverage cooling & dispensing units hold the largest share in the market.

The ice making machineries category has been further bifurcated into cubes, flakes, and nuggets. Of all, ice cubes machineries category hold the largest share in the market.

Food service remained the largest application for global commercial refrigeration equipment market in 2022

The commercial refrigeration equipment market on the basis of application is segmented into food and beverage distribution, food service, food and beverage retail and others. Among all these segments, food service refrigeration is expected to witness the highest demand in the market during the forecast period. The growth of the market for this application is attributed towards increasing utilization of food service refrigeration equipment in ensuring quality of food from the supplier to the consumer.

Based on end-user, the commercial refrigeration equipment market is segmented into hotels/restaurants & catering, convenience stores, supermarkets, hypermarkets, e-commerce, and others. Among these segments, supermarkets are the largest end-user of refrigeration equipment in commercial application since this system helps in gaining expertise in order to meet efficiencies in energy requirement and helps in reducing carbon footprints without comprising the performance of an organization.

Asia-Pacific account for the largest demand of commercial refrigeration equipment across the globe

Geographically, Asia-Pacific is the largest market for commercial refrigeration. The region accounted for 35.8% of sales commercial refrigeration equipment in 2019. The increasing disposable income, improving infrastructure, and large population base are the major factor leading to the largest share of the region.

Key players in the commercial refrigeration equipment market are investing heavily in improving the quality of these equipment and developing the latest technologies that is strengthening their position in the market. However, it has been observed that local players are depending upon new technology to develop cost efficiencies, thus increasing the rivalry in the market to some extent.

Some of the major players operating in the global commercial refrigeration equipment market are Carrier Global Corporation, Hussmann Corporation, AB Electrolux, Frigoglass S.A.I.C., Dover Corporation, Daikin Industries Ltd., AHT Cooling Systems GmbH, Ali Group S.p.A, llinois Tool Works Inc., and Johnson Controls International plc.

Scope of the Report

Global Commercial Refrigeration Equipment Market Coverage

Equipment Type Insight and Forecast 2018-2030

• Walk-in Coolers
  • Packaged Unit
  • Remote Condensing Unit
  • Remote Plant
• Display Cases
  • Plug in Cases
  • Remote Cases
• Beverage Refrigeration
  • Beverage Cooling & Dispensing Units
  • Drinking Fountains
  • Beer Dispensing Units
  • Soda Fountain Equipment
  • Others
• Ice Making Machineries
  • Cubes
  • Flakes
  • Nuggets
• Transportation Refrigeration Equipment
• Parts
• Other Equipment

Application Insight and Forecast 2018-2030

• Food Service
• Food and Beverage Retail
• Food and Beverage Distribution
• Others

End User Insight and Forecast 2018-2030

• Supermarkets
• Hotels/Restaurants and Catering Businesses
• Hypermarkets
• Convenience Stores
• E-Commerce
• Others

Geographical Segmentation

Commercial Refrigeration Equipment Market by Region

North America

• By Equipment Type
• By Application
• By End User
• By Country – U.S., and Canada

Europe

• By Equipment Type
• By Application
• By End User
• By Country – Germany, U.K., France, Italy, and Rest of Europe

Asia-Pacific

• By Equipment Type
• By Application
• By End User
• By Country – China, Japan, India, South Korea, Australia, and Rest of Asia-Pacific

Latin America (LATAM)

• By Equipment Type
• By Application
• By End User
• By Country – Brazil, Mexico, Argentina, Colombia, Chile, Peru, and Rest of LATAM

Middle East and Africa (MEA)

• By Equipment Type
• By Application
• By End User
• By Country – Saudi Arabia, U.A.E., Egypt, South Africa, and Rest of MEA