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report thumbnailCommercial Refrigeration Equipment Market

Commercial Refrigeration Equipment Market 2025-2033 Trends: Unveiling Growth Opportunities and Competitor Dynamics

Commercial Refrigeration Equipment Market by Type (Refrigerator & Freezer, Transport Refrigeration, Refrigerated Display Cases, Ice Machines, Others), by Application (Food & Beverage, Retail Stores, Hotels & Restaurants, Chemicals & Pharmaceuticals, Others), by North America (U.S., Canada) Forecast 2026-2034

Jan 18 2025
Base Year: 2025
180 Pages
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Commercial Refrigeration Equipment Market 2025-2033 Trends: Unveiling Growth Opportunities and Competitor Dynamics

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Commercial Refrigeration Equipment Market 2025-2033 Trends: Unveiling Growth Opportunities and Competitor Dynamics

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Key Insights

The Commercial Refrigeration Equipment Market size was valued at USD 50.42 USD Billion in 2023 and is projected to reach USD 77.84 USD Billion by 2032, exhibiting a CAGR of 6.4 % during the forecast period. Refrigeration equipment for commercial use is necessary because many enterprises need to maintain perishable products. Some of the equipment is made of refrigerators freezers coolers and other equipment used to maintain specific temperatures for food and beverage preservation. Commercial types of refrigeration are classified as reach-in refrigerators, walk-in coolers, display cases, and refrigerated prep tables. Some of the key characteristics of these units include the flexibility to allow for adjustable shelving and digital temperature control as well as energy-saving efficiency. More sophisticated models may feature potential intelligent technology that can provide alerts for remote monitoring and maintenance. They are used in many service industries for restaurants, supermarkets, convenience stores, and food processing plants. They also have a way of preserving drugs and vaccines that need to be maintained at a specific temperature. Commercial refrigeration units are quite beneficial in many ways. They help maintain the quality of products and prevent spoilt , they also prolong the shelf life of products and promote health regulation in the market. In addition, they keep the food and other stored products at the ideal temperature, thus ensuring the quality and flavour of the products that support business productivity and customer satisfaction.

Commercial Refrigeration Equipment Market Research Report - Market Overview and Key Insights

Commercial Refrigeration Equipment Market Market Size (In Million)

50.0M
40.0M
30.0M
20.0M
10.0M
0
35.12 M
2021
37.82 M
2022
40.72 M
2023
43.88 M
2024
47.32 M
2025
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Commercial Refrigeration Equipment Trends

  • Growing demand for energy-efficient equipment
  • Increasing adoption of natural refrigerants
  • Demand for smart and connected refrigeration systems
Commercial Refrigeration Equipment Market Market Size and Forecast (2024-2030)

Commercial Refrigeration Equipment Market Company Market Share

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Driving Forces: What's Propelling the Commercial Refrigeration Equipment Market

  • Surging demand for chilled and frozen food and beverages, driven by population growth and changing dietary habits
  • Expansion and modernization of retail and hospitality sectors, increasing the need for efficient and reliable refrigeration systems
  • Government regulations and incentives, promoting the adoption of energy-efficient and sustainable refrigeration technologies
  • Increasing awareness of food safety and hygiene standards, leading to investments in advanced refrigeration solutions

Challenges and Restraints in the Commercial Refrigeration Equipment Market

  • High upfront cost of equipment
  • Fluctuating raw material prices
  • Stringent environmental regulations

Emerging Trends in Commercial Refrigeration Equipment

  • Use of advanced technologies such as IoT and AI
  • Development of sustainable and eco-friendly solutions
  • Growing demand for compact and space-saving equipment

Growth Catalysts in the Commercial Refrigeration Equipment Industry

  • Increasing investments in food processing and distribution
  • Government initiatives to promote energy efficiency
  • Technological advancements leading to improved performance and efficiency

Market Segmentation: Commercial Refrigeration Equipment Analysis

Type:

  • Refrigerator & Freezer
  • Transport Refrigeration
  • Refrigerated Display Cases
  • Ice Machines
  • Others

Application:

  • Food & Beverage
  • Retail Stores
  • Hotels & Restaurants
  • Chemicals & Pharmaceuticals
  • Others

Leading Players in the Commercial Refrigeration Equipment Market

  • Emerson Electric Co. (U.S.) 
  • Carrier Corporation (U.S.) 
  • Danfoss (Denmark)
  • GEA Group Aktiengesellschaft (Germany) 
  • DAIKIN EUROPE GROUP (Belgium) 
  • Johnson Controls (Ireland) 
  • Nor-Lake, Inc. (U.S.)
  • The Middleby Corporation (U.S.) 
  • Whirlpool Corporation (U.S.)
  • Ali Group S.r.l. (Italy)

Significant Developments in Commercial Refrigeration Equipment Sector

  • **May 2023:** Emerson acquires Verdant to expand its portfolio of natural refrigerant-based solutions, aligning with industry trends towards environmentally sustainable cooling.
  • **February 2023:** Carrier launches its Synactive platform, offering advanced capabilities for remote monitoring, control, and optimization of refrigeration systems, enhancing operational efficiency and diagnostics.
  • **September 2022:** Danfoss introduces its next-generation Turbocor oil-free compressors, featuring improved energy efficiency, reduced noise levels, and enhanced reliability, driving industry advancements in energy conservation.
  • **June 2022:** Linde unveils its innovative CryoCube technology, providing ultra-low temperature storage and transportation solutions for specialized applications such as pharmaceutical products and cryopreservation, supporting the expansion of temperature-sensitive industries.
  • **March 2021:** LG Electronics showcases its advanced AI-powered commercial refrigerators, leveraging artificial intelligence to optimize temperature control, reduce energy consumption, and enhance food preservation, demonstrating the integration of smart technologies in refrigeration equipment.

Comprehensive Coverage Commercial Refrigeration Equipment Market Report

The report provides a comprehensive analysis of the commercial refrigeration equipment market, including:

  • Market size and growth projections
  • Segmentation by type, application, and region
  • Competitive landscape and market share
  • Key industry trends and drivers
  • Growth catalysts and challenges
  • Future outlook and market forecasts

Regional Insight

The Asia Pacific region continues to dominate the commercial refrigeration equipment market, driven by the rapidly expanding food and beverage industry, urbanization, and rising disposable incomes. North America and Europe maintain significant market shares, with a focus on energy efficiency, sustainability, and advanced technologies.

Commercial Refrigeration Equipment Market Market Share by Region - Global Geographic Distribution

Commercial Refrigeration Equipment Market Regional Market Share

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Geographic Coverage of Commercial Refrigeration Equipment Market

Higher Coverage
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Commercial Refrigeration Equipment Market REPORT HIGHLIGHTS

AspectsDetails
Study Period 2020-2034
Base Year 2025
Estimated Year 2026
Forecast Period2026-2034
Historical Period2020-2025
Growth RateCAGR of 6.4% from 2020-2034
Segmentation
    • By Type
      • Refrigerator & Freezer
      • Transport Refrigeration
      • Refrigerated Display Cases
      • Ice Machines
      • Others
    • By Application
      • Food & Beverage
      • Retail Stores
      • Hotels & Restaurants
      • Chemicals & Pharmaceuticals
      • Others
  • By Geography
    • North America
      • U.S.
      • Canada

Table of Contents

  1. 1. Introduction
    • 1.1. Research Scope
    • 1.2. Market Segmentation
    • 1.3. Research Methodology
    • 1.4. Definitions and Assumptions
  2. 2. Executive Summary
    • 2.1. Introduction
  3. 3. Market Dynamics
    • 3.1. Introduction
      • 3.2. Market Drivers
        • 3.2.1. Rising Demand from the Automotive and Construction Sectors to Aid Market Growth
      • 3.3. Market Restrains
        • 3.3.1. High Capital Expenditure and Maintenance Costs to Obstruct Adoption Across Industries
      • 3.4. Market Trends
        • 3.4.1. Technological Advancement in Equipment to Propel Market Growth
  4. 4. Market Factor Analysis
    • 4.1. Porters Five Forces
    • 4.2. Supply/Value Chain
    • 4.3. PESTEL analysis
    • 4.4. Market Entropy
    • 4.5. Patent/Trademark Analysis
  5. 5. Global Commercial Refrigeration Equipment Market Analysis, Insights and Forecast, 2020-2032
    • 5.1. Market Analysis, Insights and Forecast - by Type
      • 5.1.1. Refrigerator & Freezer
      • 5.1.2. Transport Refrigeration
      • 5.1.3. Refrigerated Display Cases
      • 5.1.4. Ice Machines
      • 5.1.5. Others
    • 5.2. Market Analysis, Insights and Forecast - by Application
      • 5.2.1. Food & Beverage
      • 5.2.2. Retail Stores
      • 5.2.3. Hotels & Restaurants
      • 5.2.4. Chemicals & Pharmaceuticals
      • 5.2.5. Others
    • 5.3. Market Analysis, Insights and Forecast - by Region
      • 5.3.1. North America
  6. 6. Competitive Analysis
    • 6.1. Global Market Share Analysis 2025
      • 6.2. Company Profiles
        • 6.2.1 Emerson Electric Co. (U.S.)
          • 6.2.1.1. Overview
          • 6.2.1.2. Products
          • 6.2.1.3. SWOT Analysis
          • 6.2.1.4. Recent Developments
          • 6.2.1.5. Financials (Based on Availability)
        • 6.2.2 Carrier Corporation (U.S.)
          • 6.2.2.1. Overview
          • 6.2.2.2. Products
          • 6.2.2.3. SWOT Analysis
          • 6.2.2.4. Recent Developments
          • 6.2.2.5. Financials (Based on Availability)
        • 6.2.3 Danfoss (Denmark)
          • 6.2.3.1. Overview
          • 6.2.3.2. Products
          • 6.2.3.3. SWOT Analysis
          • 6.2.3.4. Recent Developments
          • 6.2.3.5. Financials (Based on Availability)
        • 6.2.4 GEA Group Aktiengesellschaft (Germany)
          • 6.2.4.1. Overview
          • 6.2.4.2. Products
          • 6.2.4.3. SWOT Analysis
          • 6.2.4.4. Recent Developments
          • 6.2.4.5. Financials (Based on Availability)
        • 6.2.5 DAIKIN EUROPE GROUP (Belgium)
          • 6.2.5.1. Overview
          • 6.2.5.2. Products
          • 6.2.5.3. SWOT Analysis
          • 6.2.5.4. Recent Developments
          • 6.2.5.5. Financials (Based on Availability)
        • 6.2.6 Johnson Controls (Ireland)
          • 6.2.6.1. Overview
          • 6.2.6.2. Products
          • 6.2.6.3. SWOT Analysis
          • 6.2.6.4. Recent Developments
          • 6.2.6.5. Financials (Based on Availability)
        • 6.2.7 Nor-Lake Inc. (U.S.)
          • 6.2.7.1. Overview
          • 6.2.7.2. Products
          • 6.2.7.3. SWOT Analysis
          • 6.2.7.4. Recent Developments
          • 6.2.7.5. Financials (Based on Availability)
        • 6.2.8 The Middleby Corporation (U.S.)
          • 6.2.8.1. Overview
          • 6.2.8.2. Products
          • 6.2.8.3. SWOT Analysis
          • 6.2.8.4. Recent Developments
          • 6.2.8.5. Financials (Based on Availability)
        • 6.2.9 Imbera (Mexico)
          • 6.2.9.1. Overview
          • 6.2.9.2. Products
          • 6.2.9.3. SWOT Analysis
          • 6.2.9.4. Recent Developments
          • 6.2.9.5. Financials (Based on Availability)
        • 6.2.10 Welbilt (U.S.)
          • 6.2.10.1. Overview
          • 6.2.10.2. Products
          • 6.2.10.3. SWOT Analysis
          • 6.2.10.4. Recent Developments
          • 6.2.10.5. Financials (Based on Availability)
        • 6.2.11 AB Electrolux (Sweden)
          • 6.2.11.1. Overview
          • 6.2.11.2. Products
          • 6.2.11.3. SWOT Analysis
          • 6.2.11.4. Recent Developments
          • 6.2.11.5. Financials (Based on Availability)
        • 6.2.12 Ali Group S.r.l. (Italy)
          • 6.2.12.1. Overview
          • 6.2.12.2. Products
          • 6.2.12.3. SWOT Analysis
          • 6.2.12.4. Recent Developments
          • 6.2.12.5. Financials (Based on Availability)
        • 6.2.13 AHT Cooling Systems GmbH (Austria)
          • 6.2.13.1. Overview
          • 6.2.13.2. Products
          • 6.2.13.3. SWOT Analysis
          • 6.2.13.4. Recent Developments
          • 6.2.13.5. Financials (Based on Availability)
        • 6.2.14 Hillphoenix A Dover Company (U.S.)
          • 6.2.14.1. Overview
          • 6.2.14.2. Products
          • 6.2.14.3. SWOT Analysis
          • 6.2.14.4. Recent Developments
          • 6.2.14.5. Financials (Based on Availability)
        • 6.2.15 Excellence Industries (U.S.)
          • 6.2.15.1. Overview
          • 6.2.15.2. Products
          • 6.2.15.3. SWOT Analysis
          • 6.2.15.4. Recent Developments
          • 6.2.15.5. Financials (Based on Availability)
        • 6.2.16 Illinois Tool Works Inc. (U.S.)
          • 6.2.16.1. Overview
          • 6.2.16.2. Products
          • 6.2.16.3. SWOT Analysis
          • 6.2.16.4. Recent Developments
          • 6.2.16.5. Financials (Based on Availability)
        • 6.2.17 Lennox International Inc. (U.S.)
          • 6.2.17.1. Overview
          • 6.2.17.2. Products
          • 6.2.17.3. SWOT Analysis
          • 6.2.17.4. Recent Developments
          • 6.2.17.5. Financials (Based on Availability)
        • 6.2.18 Minus Forty Technologies Corp. (Canada)
          • 6.2.18.1. Overview
          • 6.2.18.2. Products
          • 6.2.18.3. SWOT Analysis
          • 6.2.18.4. Recent Developments
          • 6.2.18.5. Financials (Based on Availability)
        • 6.2.19 Panasonic Corporation (Japan)
          • 6.2.19.1. Overview
          • 6.2.19.2. Products
          • 6.2.19.3. SWOT Analysis
          • 6.2.19.4. Recent Developments
          • 6.2.19.5. Financials (Based on Availability)
        • 6.2.20 True Manufacturing Co. Inc. (U.S.)
          • 6.2.20.1. Overview
          • 6.2.20.2. Products
          • 6.2.20.3. SWOT Analysis
          • 6.2.20.4. Recent Developments
          • 6.2.20.5. Financials (Based on Availability)
        • 6.2.21 Whirlpool Corporation (U.S.)
          • 6.2.21.1. Overview
          • 6.2.21.2. Products
          • 6.2.21.3. SWOT Analysis
          • 6.2.21.4. Recent Developments
          • 6.2.21.5. Financials (Based on Availability)
        • 6.2.22 Standex International Corporation (U.S.)
          • 6.2.22.1. Overview
          • 6.2.22.2. Products
          • 6.2.22.3. SWOT Analysis
          • 6.2.22.4. Recent Developments
          • 6.2.22.5. Financials (Based on Availability)
        • 6.2.23 Viessmann (Germany)
          • 6.2.23.1. Overview
          • 6.2.23.2. Products
          • 6.2.23.3. SWOT Analysis
          • 6.2.23.4. Recent Developments
          • 6.2.23.5. Financials (Based on Availability)
        • 6.2.24 Canadian Curtis Refrigeration Inc. (Canada)
          • 6.2.24.1. Overview
          • 6.2.24.2. Products
          • 6.2.24.3. SWOT Analysis
          • 6.2.24.4. Recent Developments
          • 6.2.24.5. Financials (Based on Availability)
        • 6.2.25 Everidge Inc. (U.S.)
          • 6.2.25.1. Overview
          • 6.2.25.2. Products
          • 6.2.25.3. SWOT Analysis
          • 6.2.25.4. Recent Developments
          • 6.2.25.5. Financials (Based on Availability)

List of Figures

  1. Figure 1: Global Commercial Refrigeration Equipment Market Revenue Breakdown (USD Billion, %) by Region 2025 & 2033
  2. Figure 2: Global Commercial Refrigeration Equipment Market Volume Breakdown (K Units, %) by Region 2025 & 2033
  3. Figure 3: North America Commercial Refrigeration Equipment Market Revenue (USD Billion), by Type 2025 & 2033
  4. Figure 4: North America Commercial Refrigeration Equipment Market Volume (K Units), by Type 2025 & 2033
  5. Figure 5: North America Commercial Refrigeration Equipment Market Revenue Share (%), by Type 2025 & 2033
  6. Figure 6: North America Commercial Refrigeration Equipment Market Volume Share (%), by Type 2025 & 2033
  7. Figure 7: North America Commercial Refrigeration Equipment Market Revenue (USD Billion), by Application 2025 & 2033
  8. Figure 8: North America Commercial Refrigeration Equipment Market Volume (K Units), by Application 2025 & 2033
  9. Figure 9: North America Commercial Refrigeration Equipment Market Revenue Share (%), by Application 2025 & 2033
  10. Figure 10: North America Commercial Refrigeration Equipment Market Volume Share (%), by Application 2025 & 2033
  11. Figure 11: North America Commercial Refrigeration Equipment Market Revenue (USD Billion), by Country 2025 & 2033
  12. Figure 12: North America Commercial Refrigeration Equipment Market Volume (K Units), by Country 2025 & 2033
  13. Figure 13: North America Commercial Refrigeration Equipment Market Revenue Share (%), by Country 2025 & 2033
  14. Figure 14: North America Commercial Refrigeration Equipment Market Volume Share (%), by Country 2025 & 2033

List of Tables

  1. Table 1: Global Commercial Refrigeration Equipment Market Revenue USD Billion Forecast, by Type 2020 & 2033
  2. Table 2: Global Commercial Refrigeration Equipment Market Volume K Units Forecast, by Type 2020 & 2033
  3. Table 3: Global Commercial Refrigeration Equipment Market Revenue USD Billion Forecast, by Application 2020 & 2033
  4. Table 4: Global Commercial Refrigeration Equipment Market Volume K Units Forecast, by Application 2020 & 2033
  5. Table 5: Global Commercial Refrigeration Equipment Market Revenue USD Billion Forecast, by Region 2020 & 2033
  6. Table 6: Global Commercial Refrigeration Equipment Market Volume K Units Forecast, by Region 2020 & 2033
  7. Table 7: Global Commercial Refrigeration Equipment Market Revenue USD Billion Forecast, by Type 2020 & 2033
  8. Table 8: Global Commercial Refrigeration Equipment Market Volume K Units Forecast, by Type 2020 & 2033
  9. Table 9: Global Commercial Refrigeration Equipment Market Revenue USD Billion Forecast, by Application 2020 & 2033
  10. Table 10: Global Commercial Refrigeration Equipment Market Volume K Units Forecast, by Application 2020 & 2033
  11. Table 11: Global Commercial Refrigeration Equipment Market Revenue USD Billion Forecast, by Country 2020 & 2033
  12. Table 12: Global Commercial Refrigeration Equipment Market Volume K Units Forecast, by Country 2020 & 2033
  13. Table 13: U.S. Commercial Refrigeration Equipment Market Revenue (USD Billion) Forecast, by Application 2020 & 2033
  14. Table 14: U.S. Commercial Refrigeration Equipment Market Volume (K Units) Forecast, by Application 2020 & 2033
  15. Table 15: Canada Commercial Refrigeration Equipment Market Revenue (USD Billion) Forecast, by Application 2020 & 2033
  16. Table 16: Canada Commercial Refrigeration Equipment Market Volume (K Units) Forecast, by Application 2020 & 2033

Methodology

Step 1 - Identification of Relevant Samples Size from Population Database

Step Chart
Bar Chart
Method Chart

Step 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)

Approach Chart
Top-down and bottom-up approaches are used to validate the global market size and estimate the market size for manufactures, regional segments, product, and application.

Note*: In applicable scenarios

Step 3 - Data Sources

Primary Research

  • Web Analytics
  • Survey Reports
  • Research Institute
  • Latest Research Reports
  • Opinion Leaders

Secondary Research

  • Annual Reports
  • White Paper
  • Latest Press Release
  • Industry Association
  • Paid Database
  • Investor Presentations
Analyst Chart

Step 4 - Data Triangulation

Involves using different sources of information in order to increase the validity of a study

These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.

Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.

During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence

Additionally, after gathering mixed and scattered data from a wide range of sources, data is triangulated and correlated to come up with estimated figures which are further validated through primary mediums or industry experts, opinion leaders.

Frequently Asked Questions

1. What is the projected Compound Annual Growth Rate (CAGR) of the Commercial Refrigeration Equipment Market?

The projected CAGR is approximately 6.4%.

2. Which companies are prominent players in the Commercial Refrigeration Equipment Market?

Key companies in the market include Emerson Electric Co. (U.S.), Carrier Corporation (U.S.), Danfoss (Denmark), GEA Group Aktiengesellschaft (Germany), DAIKIN EUROPE GROUP (Belgium), Johnson Controls (Ireland), Nor-Lake, Inc. (U.S.), The Middleby Corporation (U.S.), Imbera (Mexico), Welbilt (U.S.), AB Electrolux (Sweden), Ali Group S.r.l. (Italy), AHT Cooling Systems GmbH (Austria), Hillphoenix, A Dover Company (U.S.), Excellence Industries (U.S.), Illinois Tool Works Inc. (U.S.), Lennox International Inc. (U.S.), Minus Forty Technologies Corp. (Canada), Panasonic Corporation (Japan), True Manufacturing Co., Inc. (U.S.), Whirlpool Corporation (U.S.), Standex International Corporation (U.S.), Viessmann (Germany), Canadian Curtis Refrigeration Inc. (Canada), Everidge, Inc. (U.S.).

3. What are the main segments of the Commercial Refrigeration Equipment Market?

The market segments include Type, Application.

4. Can you provide details about the market size?

The market size is estimated to be USD 50.42 USD Billion as of 2022.

5. What are some drivers contributing to market growth?

Rising Demand from the Automotive and Construction Sectors to Aid Market Growth.

6. What are the notable trends driving market growth?

Technological Advancement in Equipment to Propel Market Growth.

7. Are there any restraints impacting market growth?

High Capital Expenditure and Maintenance Costs to Obstruct Adoption Across Industries.

8. Can you provide examples of recent developments in the market?

N/A

9. What pricing options are available for accessing the report?

Pricing options include single-user, multi-user, and enterprise licenses priced at USD 4850, USD 5850, and USD 6850 respectively.

10. Is the market size provided in terms of value or volume?

The market size is provided in terms of value, measured in USD Billion and volume, measured in K Units.

11. Are there any specific market keywords associated with the report?

Yes, the market keyword associated with the report is "Commercial Refrigeration Equipment Market," which aids in identifying and referencing the specific market segment covered.

12. How do I determine which pricing option suits my needs best?

The pricing options vary based on user requirements and access needs. Individual users may opt for single-user licenses, while businesses requiring broader access may choose multi-user or enterprise licenses for cost-effective access to the report.

13. Are there any additional resources or data provided in the Commercial Refrigeration Equipment Market report?

While the report offers comprehensive insights, it's advisable to review the specific contents or supplementary materials provided to ascertain if additional resources or data are available.

14. How can I stay updated on further developments or reports in the Commercial Refrigeration Equipment Market?

To stay informed about further developments, trends, and reports in the Commercial Refrigeration Equipment Market, consider subscribing to industry newsletters, following relevant companies and organizations, or regularly checking reputable industry news sources and publications.