Global Commercial Refrigeration
Market Report
2025
Delivery Includes:- Market Timeline 2019 till 2031, Market Size, Revenue/Volume Share, Forecast and CAGR, Competitor Analysis, Regional Analysis, Country Analysis, Segment Analysis, Market Trends, Drivers, Opportunities, Restraints, ESG Analysis, Porters Analysis, PESTEL Analysis, Market Attractiveness, Patent Analysis, Technological Trend, SWOT Analysis, COVID-19 Analysis, Consumer Behavior Analysis, etc.
The base year for the calculation is 2024 and 2021 to 2024 will be historical period. The year 2025 will be estimated one while the forecasted data will be from year 2025 to 2033. When we deliver the report that time we updated report data till the purchase date.
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• According to Cognitive Market Research, the Commercial Refrigeration Market size will be XX million in 2023 and will expand at a compound annual growth rate (CAGR) of XX% from 2024 to 2031.
• The market for commercial refrigeration is growing as a result of consumers' growing preferences for chilled and frozen foods and an increase in Technological Advancements in Commercial Refrigeration.
• Commercial Refrigerators, because of their size and features, are typically more expensive upfront. It represents a substantial financial investment for companies. Hence, the High Cost of Commercial Refrigeration hampers the market growth.
• Chest refrigeration is dominating because chest refrigerators are widely used in a variety of industries and are recognized for their energy efficiency and large capacity, which makes them perfect for storing bulky items or large quantities of products.
• North America holds a dominant position in the market, mainly due to the sizeable food and beverage sector and the requirement for cold storage and transportation of products that are sensitive to temperature
2019 | 2024 | 2025 | 2032 | 2033 | CAGR | |
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Global Market Size | 121212 | 121212 | 121212 | 121212 | 121212 | 121212 |
Country Market Size | 121212 | 121212 | 121212 | 121212 | 121212 | 121212 |
North Americ Market Size | 121212 | 121212 | 121212 | 121212 | 121212 | 121212 |
Europe Market Size | 121212 | 121212 | 121212 | 121212 | 121212 | 121212 |
Asia Pacific Market Size | 121212 | 121212 | 121212 | 121212 | 121212 | 121212 |
South America Market Size | 121212 | 121212 | 121212 | 121212 | 121212 | 121212 |
Middle East and Africa Market Size | 121212 | 121212 | 121212 | 121212 | 121212 | 121212 |
Base Year | 2024 |
Historical Data Time Period | 2021-2024 |
Forecast Period | 2025-2033 |
Market Split by Type |
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Market Split by Application |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Commercial Refrigeration Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
According to Cognitive Market Research, the Commercial Refrigeration Market size will be XX million in 2023 and will expand at a compound annual growth rate (CAGR) of XX% from 2024 to 2031. A commercial refrigerator is a self-contained or remote-condensing refrigerator that uses a vapor-compression refrigeration system or is intended to be used with one, and each of its compartments is made to display or store food, drinks, or flowers at 0°C or above. The equipment utilized for cold storage in commercial settings is referred to as commercial refrigeration. Supermarkets, convenience stores, specialty food stores, and grocery stores all have reach-in freezers and refrigerators. The need for commercial refrigeration systems for the storage and delivery of frozen goods, processed foods, and seafood has increased due to a significant increase in the global food trade. The need for the products is being further driven by ongoing developments and quick advancements in technology, such as ammonia absorption systems and liquid-vapor compression. To obtain a competitive edge in the market, several top manufacturers are concentrating on research and development efforts to improve the design and temperature control of their goods. The refrigeration industry is likely to have plenty of growth prospects due to the growing requirement to regulate and monitor the conditions of a commercial kitchen. Hence, The market for commercial refrigeration is growing as a result of consumers growing preferences for chilled and frozen foods and an increase in Technological Advancements in Commercial Refrigeration.
There is an increase in demand for frozen and chilled foods. This business is utilizing new technology, like high-pressure processing and self-heating packaging for frozen food, and canned ready-to-eat foods with defrosting and self-healing capabilities are about to boom the market. Different developments in people's eating habits have been brought by the expanding middle class, the nuclear family structure, and the presence of working women in the home. In addition to eating out, frozen food and ready-to-cook items are becoming more and more popular among customers.The emergence of cloud kitchens and quick service restaurants (QSRs) has increased demand for frozen dishes with convenient and consistent flavor. Many thousands of businesses are required to provide frozen and fresh goods including dairy, meats, ice cream, and fruits in small quantities due to the growth of e-commerce and dark stores. For the storage of the items mentioned above, refrigeration is required which drives the market expansion. freezers and chillers have limited room, therefore frozen and chilled goods need to be changed out frequently. Smaller refrigerated rooms are needed in urban and dark businesses as fast supermarket delivery becomes the new norm. For Instance, “More frozen goods are being purchased by consumers. More storage capacity and an efficient supply chain will be needed” The Food Institute's managing partner and CEO, Brian Choi, stated to CNBC. Further, The American Frozen Food Institute estimates that frozen food sales in the United States will reach over $72 billion in 2022. Hence, it drives the market growth. (Source: https://www.cnbc.com/2023/07/18/frozen-food-grocery-sales-vs-critical-cold-storage-supply-chains-.html)In the food sector, commercial refrigerators are a necessary piece of equipment. They keep food items fresh and safe for ingestion by preserving and storing them at appropriate temperatures. A commercial refrigerator is an essential purchase for any business, big or small, to maintain the quality of food offerings. So, companies are offering a wide variety of types of commercial refrigerators to retail stores, supermarkets, etc. For Instance, Elanpro is one of the top 5 leading commercial refrigerator companies in India. In a brief amount of time, the organization has managed to establish a distinctive position for itself in spite of international competition. The largest and most reputable names in the retail, hospitality, and pharmaceutical sectors trust us. In India, Elanpro and its partner brands are available in nearly every movie theatre chain, more than 50% of QSRs, and 70% of bars. We own a nearly 50% market share in the beverage business and more than 70% in the draught beer industry.(Source: https://elanpro.net/about-us/)Hence, As consumer demand for chilled and frozen foods expands, so does the market for commercial refrigeration.
One of the most revolutionary inventions of the 20th century, refrigeration has transformed communities globally by enhancing the standard of living and product durability and quality. In contrast to all other industries in history, the commercial refrigeration sector is currently experiencing an unparalleled period of innovation. The need for refrigerated equipment in the hotel and retail sectors has grown dramatically, and technology has benefited from this in many ways, offering ways to support the remarkable recent expansion of the refrigeration sector. Recent developments in refrigeration technology have resulted in improvements to centralized DX systems as well as alternatives that can assist food retailers in realizing the advantages of advanced refrigeration systems (i.e., those that lower emissions and charges associated with refrigerant). The switch from high-GWP (global warming potential) refrigerants to low-GWP substitutes is one of the biggest developments in refrigerant technology today. Numerous of these novel refrigerants are engineered to be less harmful to the ozone layer and more ecologically friendly. For Instance, Honeywell has announced that its energy-efficient Solstice low-global warming potential (GWP) refrigerant would be used in Bosch's newest heat pump range. As part of this partnership, Bosch technicians will receive training on how to safely install and maintain these cutting-edge low-GWP products. The partnership with Bosch also bolsters Honeywell's previously declared intentions to center its business around three strong megatrends, among them the energy transition. (Source: https://www.honeywell.com/us/en/press/2024/04/honeywell-and-bosch-collaborate-for-low-global-warming-heating-and-cooling-solutions)Hence, Continuous technical innovation has a major impact on the market since these developments are essential to complying with the strict environmental rules that aim to reduce greenhouse gas emissions. As a result, this is greatly assisting the market.
Depending on the size, kind, and complexity of the equipment required, the cost to buy and install refrigeration systems can vary significantly. A smaller walk-in cooler, for example, would set back several thousand dollars, but a larger industrial refrigeration system could run hundreds of thousands of dollars. Small firms may find it difficult to make the first investment necessary since they lack the funds to buy the equipment completely. Operating the refrigeration equipment may come with additional costs in addition to the initial cost, such as energy bills and continuous maintenance and repairs. Over time, these costs may accumulate and discourage certain enterprises even more.To assist in lowering total business costs, several manufacturers are addressing this problem by creating refrigeration systems that are more reasonably priced and energy-efficient. Furthermore, financing and leasing choices might assist companies in spreading out the expense of equipment acquisitions over time. As a more cost-effective option for purchasing new equipment, some organizations could choose to use refurbished or secondhand equipment. Used equipment can be a good choice for companies trying to cut costs on equipment acquisitions, even though it may carry some dangers. Thus, the market's demand may be severely constrained by the high initial cost of commercial refrigeration equipment. For Instance, If compared to residential refrigerators, they are designed to minimize household energy expenses while keeping energy efficiency in mind and improved energy conservation is facilitated by insulation and smaller sizes. Whereas Commercial Refrigerators, Because of their size and features, are typically more expensive upfront. It represents a substantial financial investment for companies. Hence, High Cost of Commercial Refrigeration hampers the market growth.
The global COVID-19 pandemic prompted the implementation of strict containment protocols, which in turn caused a temporary suspension of the production and transportation of commercial refrigeration machinery. To support the mass immunization program against the coronavirus, cold storage methods were needed, though, as the pandemic increased demand for vaccine manufacture and storage. Further, The COVID-19 epidemic caused a sharp increase in the use of online meal delivery services, which prompted food service businesses to reevaluate their strategy and increase their online presence. During the pandemic, restaurants were unable to continue operating as usual, so they started experimenting with the novel idea of cloud kitchens. A broad variety of commercial refrigeration equipment is used by cloud kitchen and food delivery companies, which have recently stimulated growth in several regions. Due to the COVID-19 epidemic and changing customer preferences, there is an increasing need for food delivery services. To meet this demand, these companies are expanding their facilities, modernizing their current locations, and purchasing new refrigerated equipment.Furthermore, It is even more important to make sure that no vaccination is lost because of inadequate infrastructure or lack of refrigeration, given the increase of COVID-19 cases during this second wave. A highly important application is needed for a vaccine refrigerator. A vaccine's effectiveness is lost if it freezes, albeit this may not be recognized. Experts are stepping forward to design best-in-class products, but understanding the requirements for each vaccine is necessary. For Instance, The unveiling of a new line of commercial refrigeration systems and solutions, which Blue Star Limited claimed are perfect for keeping vaccines, was announced in 2021. The major in commercial refrigeration and air conditioning stated in a statement, "These comprise specifically designed, temperature-controlled refrigerators and transporters, which are integral for building a robust ecosystem for vaccine distribution in India."(Source: https://economictimes.indiatimes.com/industry/healthcare/biotech/healthcare/blue-star-launches-commercial-refrigeration-products-for-vaccine-storage/articleshow/80837631.cms?from=mdr)Hence, COVID-19 had a positive impact on the Commercial Refrigeration Market.
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To increase their market share, the industry players are concentrating on putting several strategic plans into action, like capacity development, partnerships, mergers, and acquisitions. For Instance, In 2023, The world leader in intelligent climate and energy solutions, Carrier Global Corporation, and Haier with whom it has been in a joint venture for decades, have reached a definitive agreement to buy Carrier's global commercial refrigeration business for $775 million. It represents a significant advancement in the company's portfolio transition and comes after last week's agreement to sell Carrier's Global Access Solutions division.
(Source:https://www.prnewswire.com/news-releases/carrier-announces-agreement-to-sell-carrier-commercial-refrigeration-to-haier-302014694.html)
• Furthermore, The 38th edition of AAHAR, the international food and hospitality expo organized by the India Trade Promotion Organisation (ITPO), will see Voltas Limited, a well-known AC and refrigeration manufacturer, participate. The company plans to exhibit at AAHAR 2024 its cutting-edge energy-efficient commercial refrigeration products. This occasion provides a major stage for Voltas to present its most recent refrigeration solutions, which include a new line of water dispensers, freezers, visi coolers, and medical refrigeration items made to meet the demands of the medical sector as well as those of consumers.
(Source: https://www.pc-tablet.co.in/voltas-limited-showcases-commercial-refrigeration-innovations-at-aahar-2024/10717/#google_vignette)
• A revolutionary addition to its inventory, Rockwell, a leader in commercial refrigeration systems, unveiled its new line of kitchen and commercial refrigeration solutions. At the company's special sub dealer's event in Jammu, which Varinder Kumar organized, the products were unveiled. Reach-ins, reach-under counters, bar refrigeration units, confectionary showcases, and supermarket refrigeration products are all part of the new portfolio.
(Source: https://www.dailyexcelsior.com/rockwell-launches-all-new-commercial-kitchen-refrigeration-range-of-products/)
Top Companies Market Share in Commercial Refrigeration Industry: (In no particular order of Rank)
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North America holds a dominant position in the market, mainly due to the sizeable food and beverage sector and the requirement for cold storage and transportation of products that are sensitive to temperature. Additionally, the refrigeration equipment market in North America has seen a trend toward more ecologically friendly and energy-efficient models. This is driven by rules and regulations to lower greenhouse gas emissions and energy usage. For Instance, The Sustainable Refrigeration Council of North America is an environmentally conscious nonprofit organization with the greatest significant impact on mitigating climate change. We're lowering greenhouse gas emissions from HFC refrigerants and opening the door for naturally occurring refrigerants that are more climate-friendly in tandem with the grocery business. (Source: https://nasrc.org/)Therefore, manufacturers have created cutting-edge insulation and compressor technologies that lower operating costs and increase energy efficiency. This is why there is growth in the region.
The current report Scope analyzes Commercial Refrigeration Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
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Global Commercial Refrigeration Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Commercial Refrigeration Industry growth. Commercial Refrigeration market has been segmented with the help of its Type, Application , and others. Commercial Refrigeration market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
Chest refrigeration is dominating because chest refrigerators are widely used in a variety of industries and are recognized for their energy efficiency and large capacity, which makes them perfect for storing bulky items or large quantities of products. Chest refrigerators are also popular in supermarkets, convenience stores, and the hospitality industry. They are preferred for their durability and ease of maintenance, as well as their versatility in temperature control, which makes them suitable for a variety of products, from beverages to perishable food items. For Instance, The newest model in Thermo Fisher Scientific's ultra-low temperature (ULT) green line is the TDE Series -80°C Chest Freezer. As laboratories rely more and more on Thermo Scientific's temperature-sensitive materials and therapies, they need cold storage equipment that is both extremely consistent and equally sensitive. With the use of eco-friendly refrigerants and enhanced temperature regulation efficiency, the freezer offers 25% energy savings over its predecessor design for the majority of sizes and voltages.
(Source: https://www.labmate-online.com/news/refrigerators-freezers/77/thermo-fisher-scientific/ult-chest-freezer-offers-eco-friendly-compliant-and-secure-cold-storage/58941)
• Chest Refrigeration
• Deep Freezers
• Bottle Coolers
• Storage Water Coolers
• Commercial Kitchen Refrigeration
• Medical Refrigeration
• Others
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The dominating segment is the restaurants and food segment. It is impacted by the continuous advancements in cold channel logistics for the transportation of temperature-sensitive goods. Additionally, the need for luxury temperature-controlled freezers for a range of transport vehicles that ensure the consistent distribution of fish, alcohol, beverages, biopharmaceuticals, and other perishable goods is supporting the expansion of the firm. In addition, the category will rise in the next years due to the increasing trend of capital-intensive clients in the food and beverage distribution business choosing sectional refrigerated trailers.
• Transportation
• Restaurant
• Food service
• Floral markets
• Manufacturing
The above Graph is for representation purposes only. This chart does not depict actual Market share.
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Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Commercial Refrigeration Market is witnessing significant growth in the near future.
In 2023, the Transport Refrigeration (Van and TrucUnits) segment accounted for noticeable share of global Commercial Refrigeration Market and is projected to experience significant growth in the near future.
The Transportation segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Thermo King, DENSO and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Type | Transport Refrigeration (Van and TrucUnits), Walk in Box Refrigerator Units (Refrigerated and Frozen) |
Application | Transportation, Restaurant & Food service, Floral markets, Manufacturing, Others |
List of Competitors | Thermo King, Carrier Transicold, DENSO, Wabash National, Lamberet, MHI, Chereau, Great Dane, Zanotti, Kingtec, FRIGOBLOCK, GAH Refrigeration, Morgan, Sainte Marie, Hubbard, Mortech Manufacturing Inc., U.S. Cooler, Bally Refrigerated Boxes, Curtis, Polar King International, MR. Winter, Master Bilt, KPS Global, Barr Refrigeration Arctic |
This chapter will help you gain GLOBAL Market Analysis of Commercial Refrigeration. Further deep in this chapter, you will be able to review Global Commercial Refrigeration Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
This chapter will help you gain North America Market Analysis of Commercial Refrigeration. Further deep in this chapter, you will be able to review North America Commercial Refrigeration Market Split by various segments and Country Split.
Chapter 2 North America Market Analysis
This chapter will help you gain Europe Market Analysis of Commercial Refrigeration. Further deep in this chapter, you will be able to review Europe Commercial Refrigeration Market Split by various segments and Country Split.
Chapter 3 Europe Market Analysis
This chapter will help you gain Asia Pacific Market Analysis of Commercial Refrigeration. Further deep in this chapter, you will be able to review Asia Pacific Commercial Refrigeration Market Split by various segments and Country Split.
Chapter 4 Asia Pacific Market Analysis
This chapter will help you gain South America Market Analysis of Commercial Refrigeration. Further deep in this chapter, you will be able to review South America Commercial Refrigeration Market Split by various segments and Country Split.
Chapter 5 South America Market Analysis
This chapter will help you gain Middle East and Africa Market Analysis of Commercial Refrigeration. Further deep in this chapter, you will be able to review Middle East and Africa Commercial Refrigeration Market Split by various segments and Country Split.
Chapter 6 Middle East and Africa Market Analysis
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Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
This chapter provides an in-depth analysis of the market share among key competitors of Commercial Refrigeration. The analysis highlights each competitor's position in the market, growth trends, and financial performance, offering insights into competitive dynamics, and emerging players.
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
This chapter would comprehensively cover market drivers, trends, restraints, opportunities, and various in-depth analyses like industrial chain, PESTEL, Porter’s Five Forces, and ESG, among others. It would also include product life cycle, technological advancements, and patent insights.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2021 - 2033
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Chapter 11 Market Split by Application Analysis 2021 - 2033
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Commercial Refrigeration market
Chapter 12 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Transport Refrigeration (Van and TrucUnits) have a significant impact on Commercial Refrigeration market? |
What are the key factors affecting the Transport Refrigeration (Van and TrucUnits) and Walk in Box Refrigerator Units (Refrigerated and Frozen) of Commercial Refrigeration Market? |
What is the CAGR/Growth Rate of Transportation during the forecast period? |
By type, which segment accounted for largest share of the global Commercial Refrigeration Market? |
Which region is expected to dominate the global Commercial Refrigeration Market within the forecast period? |
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