The global commercial refrigeration market was valued at $29,572.8 million in 2023, and is projected to reach $56,212.3 million by 2035, registering a CAGR of 5.6% from 2024 to 2035.
![Commercial Refrigeration Market - IMG1](/sample/img/AMR1513344-f1.png)
Commercial refrigeration equipment is used to preserve vegetables, fruits, meat, and other similar products by maintaining the temperature at 30°C to -40°C, thereby increasing the shelf life of the product. In addition, some refrigeration equipment are specially designed to reduce the temperature of hot food from around 90°C to as low as 30°C in a short period to inhibit bacterial proliferation.Rise in demand for commercial refrigeration is attributed to increase in the need for frozen & chilled products among consumers due to changes in lifestyle and rapid urbanization. In addition, rapid growth in the organized retail sector, such as increase in the number of hypermarkets and supermarkets, boosts the overall sales of commercial refrigerators, thereby augmenting the growth of the market.Innovation and sustainability are expected to play major roles in the commercial refrigeration sector of the future. The use of environmentally friendly refrigerants, such as natural gas, and low-GWP substitutes, is one development that is anticipated in order to comply with strict environmental requirements. Predictive analytics and Internet of Things (IoT) sensors in smart refrigeration systems will optimize energy use, improve food safety, and save operating costs. The growing need for refrigerated transport solutions is expected to be fueled by the global food trade and pharmaceutical distribution, which is driving the demand for cold chain logistics. In addition, as consumer expectations for freshness and sustainability change, advances in refrigeration technology are expected to concentrate on reducing food waste, increasing product quality, and extending shelf life.However, the need for frequent maintenance and potential technical issues arising due to lack of proper maintenance acts as the major restraints of the global commercial refrigeration market. Conversely, advancements in commercial refrigerators such as integration of artificial intelligence coupled with rise in the trend of automation and surge in the number of quick service restaurants in emerging economies are expected to provide remunerative opportunities for the expansion of the global market during the forecast period.The global commercial refrigeration market is segmented into product, end user, and region. Depending on product type, the market is categorized into deep freezers, bottle coolers, storage water coolers, commercial kitchen refrigeration, medical refrigeration, chest refrigeration, and others. The others segment includes ice cubes, bottled water dispenser, visi coolers, refrigerated display cases, and beer dispensers.On the basis of end user, the market is fragmented into full-service restaurant & hotels, food processing industry, hospitals, retail pharmacies, supermarket/hypermarket, convenience stores, quick service restaurants, and others. The others segment includes catering services, institutional catering, event services, bakery, and bars & pubs. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.The prominent players in the global commercial refrigeration market have strategically focused on acquisitions as their key strategy to strengthen their foothold in the market. The key players operating in the market include United Technologies Corporation, Daikin Industries Ltd., Illinois Tool Works Inc. (ITW), Johnson Controls International Plc, Dover Corporation, AB Electrolux, Panasonic Corporation, Ali Group S.r.l., Frigoglass S.A.I.C., and Haier Electronics Group Co., Ltd.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the commercial refrigeration market analysis from 2023 to 2035 to identify the prevailing commercial refrigeration market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the commercial refrigeration market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global commercial refrigeration market trends, key players, market segments, application areas, and market growth strategies.
Additional benefits you will get with this purchase are:
- Quarterly Update and* (only available with a corporate license, on listed price)
- 5 additional Company Profile of client Choice pre- or Post-purchase, as a free update.
- Free Upcoming Version on the Purchase of Five and Enterprise User License.
- 16 analyst hours of support* (post-purchase, if you find additional data requirements upon review of the report, you may receive support amounting to 16 analyst hours to solve questions, and post-sale queries)
- 15% Free Customization* (in case the scope or segment of the report does not match your requirements, 15% is equivalent to 3 working days of free work, applicable once)
- Free data Pack on the Five and Enterprise User License. (Excel version of the report)
- Free Updated report if the report is 6-12 months old or older.
- 24-hour priority response*
- Free Industry updates and white papers.Possible Customization with this report (with additional cost and timeline, please talk to the sales executive to know more)
- Product Benchmarking / Product specification and applications
- Market share analysis of players by products/segments
- New Product Development/ Product Matrix of Key Players
- Additional company profiles with specific to client's interest
- Additional country or region analysis- market size and forecast
- Brands Share Analysis
- Criss-cross segment analysis- market size and forecast
- Expanded list for Company Profiles
- Historic market data
Key Market Segments
By Product Type
- Deep Freezers
- Bottle Coolers
- Storage Water Coolers
- Commercial Kitchen Refrigeration
- Medical Refrigeration
- Chest Refrigeration
- Others
By End User
- Food Processing Industry
- Hospitals
- Retail Pharmacies
- Supermarket and Hypermarket
- Convenience Stores
- Quick Service Restaurants
- Others
- Full Service Restaurant and Hotels
By Region
- North America
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- UAE
- Saudi Arabia
- Rest of LAMEA
Key Market Players:
- AB Electrolux
- ALI GROUP S.R.L.
- DAIKIN INDUSTRIES LTD.
- Dover Corporation
- FRIGOGLASS S.A.I.C.
- HAIER ELECTRONICS GROUP CO., LTD.
- Illinois Tool Works Inc.
- Johnson Controls International PLC
- Panasonic Corporation
- United Technologies Corporation