PUBLISHER: Grand View Research | PRODUCT CODE: 1611586
PUBLISHER: Grand View Research | PRODUCT CODE: 1611586
The North America commercial and medical refrigerators and freezers market size was estimated at USD 13,552.9 million in 2024 and is projected to grow at a CAGR of 4.6% from 2025 to 2030. The market is primarily driven by the increasing demand for temperature-sensitive products in the healthcare and pharmaceutical industries, such as vaccines, blood samples, and medications, which require reliable refrigeration solutions. In addition, the rise in food safety standards and the expansion of the food and beverage industry are fueling the demand for advanced refrigeration technologies that ensure the preservation of perishable goods, which is expected to further fuel the market growth in the coming years.
Rising disposable incomes, rapid urbanization, and changing lifestyles have resulted in a considerable change in food consumption over the past few years. Improved food supply chains across the globe, coupled with economic development and growing consumer awareness about the importance of a healthy lifestyle and nutritional diets, have drastically changed consumption patterns over the last decade. This factor is driving the need for a well-established frozen foods chain, which is likely to fuel the market demand in the coming years.
The growing demand for pharmaceuticals in North America is driving the market growth. With the pharmaceutical industry experiencing rapid expansion, especially in the areas of biologics, vaccines, and specialty drugs, there has been an increased need for reliable and advanced refrigeration systems. These systems ensure that pharmaceuticals remain effective and safe by keeping them at specific temperature ranges. As pharmaceutical products become more specialized, the demand for high-quality, temperature-controlled storage solutions continues to rise. This trend is expected to drive the market expansion.
The growing awareness about sustainability and rising energy costs are urging manufacturers to focus on technological improvements and build energy-efficient refrigerators and freezers. Stringent government regulations pertaining to energy consumption are also driving the adoption of smart refrigeration equipment as they help track energy consumption. The emergence of low-voltage equipment that offers better energy efficiency is anticipated to drive the demand for commercial food refrigerators and freezers across the region, thereby driving market growth.
The rising demand for personalized medicine, which provides treatments to individual patients, requires specialized medical freezers with ultra-low temperatures to store samples. In addition, increasing inclination toward medical research to develop new medicines, vaccines, and treatments is creating significant growth opportunities for the market. For instance, in June 2024, the National Institutes of Health (NIH) of the U.S. announced that it would invest nearly USD 30 million over the fiscal years 2024 and 2025 to support Communities Advancing Research Equity for Health (CARE for Health) initiative that brings together clinical research with community-based primary care. Such initiatives are expected to enhance the overall market outlook over the forecast period.
North America Commercial And Medical Refrigerators And Freezers Market Report Segmentation
This report forecasts revenue growth at regional and country levels and provides an analysis of the latest technology trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the North America commercial and medical refrigerators and freezers market report based on offering, end use, capacity, and distribution channels: