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 34.5 billion 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 for commercial refrigeration equipment in the global market.

COVID-19 has hit the commercial refrigeration industry hard. The production and demand have dipped, operations shut and supply has been disrupted. Manufacturers have reduced CAPEX (capital and expenditure) and capacity to 30-50%. Workforce shortages are one of the major causes of the reduction. A decline in production has been evident across the region and North America and Europe are among the hardest hit by Corona following the Asia-Pacific region. The demand for commercial refrigeration equipment has declined as customers have 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 specialty food stores

Increasing utilization and demand for refrigeration systems in various grocery stores, supermarkets, convenience stores, and specialty 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 led to increasing acceptance of the refrigeration system in restaurants, commercial kitchens, and cafeterias. 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 machinery, and others. The other equipment includes vending machines, cryogenic equipment, and liquid chillier. Of all the equipment types, 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 beverage shops and restaurants in the emerging markets are being upgraded which has been one of the major reasons for the high growth of display case shipments, globally.

Browse Market Insight and In-depth TOC on "Global Commercial Refrigeration Equipment Market – Analysis and Forecast (2025-2030)"

Of all, the beverage refrigeration category holds the largest share of the market in 2023.

The walk-in coolers hold the largest share of the market since walk-in coolers help users reduce operating costs, convenience, and flexibility. Furthermore, these coolers are considered to be the most efficient alternative for reducing electricity costs and helping keep food fresh for a longer period.

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

The display cases category has been further bifurcated into plugin cases and remote cases. Among these two, the 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 of the market.

The ice-making pieces of machinery category have been further bifurcated into cubes, flakes, and nuggets. Of all, the ice cube machinery category holds the largest share of the market.

Foodservice remained the largest application for global commercial refrigeration equipment market in 2023

The commercial refrigeration equipment market based on 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 to the increasing utilization of food service refrigeration equipment in ensuring the quality of food from the supplier to the consumer.

Based on end-users, 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-users of refrigeration equipment in commercial applications since this system helps in gaining expertise to meet efficiencies in energy requirements and helps in reducing carbon footprints without compromising the performance of an organization.

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

Geographically, Asia-Pacific is the largest market for commercial refrigeration. The region accounted for 35.8% of sales of commercial refrigeration equipment in 2019. The increasing disposable income, improving infrastructure, and large population base are the major factors 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 are 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, Illinois Tool Works Inc., and Johnson Controls International plc.

Equipment Type Insight and Forecast 2025-2030

• 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 Machinery
  • Cubes
  • Flakes
  • Nuggets
• Transportation Refrigeration Equipment
• Parts
• Other Equipment

Application Insight and Forecast 2025-2030

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

End User Insight and Forecast 2025-2030

• 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