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Commercial Refrigeration Equipment Market Size, Share & Trends Analysis Report By Product (Refrigerators & Freezers, Beverage Refrigeration), By Application, By System Type, By Capacity, By Region, And Segment Forecasts, 2023 - 2030

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    Report

  • 127 Pages
  • September 2023
  • Region: Global
  • Grand View Research
  • ID: 3934192
The global commercial refrigeration equipment market size is estimated to reach USD 58.31 billion by 2030, registering an estimated CAGR of 5.2% from 2023 to 2030. The major aspects driving the market growth are the increasing consumption of frozen foods and the significant expansion of tourism and hospitality industries.

The rising environmental concerns about harmful emissions produced by refrigerators such as Hydro-chlorofluorocarbons (HCFC) and Chlorofluorocarbons (CFC) have led to the establishment of norms promoting the adoption of energy-efficient equipment for commercial refrigeration. The Clean Air Act launched by the U.S. Environment Protection Agency mandates the regularized application of low Global Warming Potential (GWP) refrigerants in the commercial segment.

Such regulatory measures are urging the companies operating in market to develop energy-efficient offerings with lesser environmental impact. For instance, in September 2022, Carrier Transicold introduced its new range of cutting-edge sustainable and electric temperature-controlled transport units at IAA Transportation 2022 in Germany. The new product offerings include Carrier’s first hydrogen fuel cell-powered Vector trailer unit supporting the temperature-controlled transport solutions for decarbonizing the cold chain.

The global outbreak of the COVID-19 pandemic had severely affected the commercial foodservice industry and retail industries, thereby impacting the expansion of the commercial refrigeration equipment market. However, the industry witnessed a strong demand from the pharmaceutical and biotechnology industries with the increasing need to produce and store vaccines. Several pharmaceutical firms and research institutes demanded vaccine storage refrigerators as a part of their R&D activities to deliver life-saving vaccines against the coronavirus.

Commercial Refrigeration Equipment Market Report Highlights

  • In terms of product, refrigerators and freezers segment held a revenue share of about 25.0% in 2022 owing to the increased demand for vaccine storage units during the pandemic for conducting the immunization process
  • In terms of application, food and beverage distribution segment is estimated to record a substantial CAGR from 2023 to 2030 with the ongoing developments in cold channel logistics for transporting temperature-sensitive items
  • In terms of system type, the self-contained segment held around 86.0% revenue share in 2022 owing to increasing demand driven by the ease of installation and low maintenance and relocation cost of appliances
  • In terms of capacity, the 51 cu. Ft. - 100 cu. Ft. segment held a notable revenue share of more than 45.0% in 2022, owing to the rising number of specialty food stores, hypermarkets, and supermarkets across the globe
  • North America captured a sizeable revenue share in 2022 owing to greater consumer inclination toward the adoption of smart equipment across commercial kitchens
Frequently Asked Questions about the Global Commercial Refrigeration Equipment Market

What is the estimated value of the Global Commercial Refrigeration Equipment Market?

The Global Commercial Refrigeration Equipment Market was estimated to be valued at $39.31 Billion in 2022.

What is the growth rate of the Global Commercial Refrigeration Equipment Market?

The growth rate of the Global Commercial Refrigeration Equipment Market is 5.2%, with an estimated value of $58.31 Billion by 2030.

What is the forecasted size of the Global Commercial Refrigeration Equipment Market?

The Global Commercial Refrigeration Equipment Market is estimated to be worth $58.31 Billion by 2030.

Who are the key companies in the Global Commercial Refrigeration Equipment Market?

Key companies in the Global Commercial Refrigeration Equipment Market include AHT Cooling Systems GmbH, Ali Group S.r.l. a Socio Unico, Carrier, Daikin Industries, Ltd., Dover Corporation, Electrolux AB, Hussmann Corporation, Illinois Tool Works Inc., Johnson Control and Lennox International Inc..

Table of Contents

Chapter 1 Methodology and Scope
1.1 Market Segmentation & Scope
1.2 Market Definitions
1.3 Information Procurement
1.3.1 Information Analysis
1.3.2 Market Formulation & Data Visualization
1.3.3 Data Validation & Publishing
1.4 Research Scope and Assumptions
1.4.1 List of Data Sources
Chapter 2 Executive Summary
2.1 Market Outlook
2.2 Segmental Outlook
2.3 Competitive Insights
Chapter 3 Market Variables, Trends & Scope
3.1 Market Lineage Outlook
3.2 Industry Value Chain Analysis
3.3 Market Dynamics
3.3.1 Market Driver Analysis
3.3.1.1 Technological advancements and need for energy efficient refrigerators
3.3.1.2 Shifting trend in food consumption habits
3.3.2 Market restraint Analysis
3.3.2.1 High maintenance cost of contemporary devices
3.3.2.2 Increasing fuel costs
3.3.3 Market opportunity Analysis
3.3.3.1 Adoption of data driven technology
3.3.3.2 Growing significance on online retail
3.4 Regulatory Landscape in North America
3.4.1 Environmental Protection Agency (EPA) Refrigerant Regulations
3.4.2 Regulatory Landscape in Canada
3.5 Global Export/Import Data for Commercial Refrigeration Equipment
3.5.1 U.S. Import data for commercial refrigeration equipment
3.5.2 U.S. Export data for commercial refrigeration equipment
3.5.3 Canada Import data for commercial refrigeration equipment
3.5.4 Canada Export data for commercial refrigeration equipment
3.6 Industry Analysis Tools
3.6.1 Porter’s analysis
3.6.2 Macroeconomic Analysis
3.7 Distributor Landscape
3.7.1 Key distributor analysis
3.7.2 Other distributors and manufacturers
3.8 COVID-19 Impact on Commercial Refrigeration Equipment Market
Chapter 4 Product Estimates and Trend Analysis
4.1 Product Movement Analysis & Market Share, 2022 & 2030
4.2 Commercial Refrigeration Equipment Market Estimates & Forecast, By Product (USD Million)
4.2.1 Transportation Refrigeration Equipment
4.2.2 Refrigerators and Freezers
4.2.3 Beverage Refrigeration
4.2.4 Display Showcases
4.2.5 Ice Merchandisers & Ice Vending Equipment
4.2.6 Other Equipment
Chapter 5 Application Estimates and Trend Analysis
5.1 Application Movement Analysis & Market Share, 2022 & 2030
5.2 Commercial Refrigeration Equipment Market Estimates & Forecast, By Application (USD Million)
5.2.1 Food Service
5.2.2 Food & Beverage Retail
5.2.2.1 Commercial Refrigeration Equipment Market Estimates & Forecast By Food & Beverage Retail (USD Million)
5.2.3 Food & Beverage Distribution
5.2.4 Food & Beverage Production
5.2.5 Others
Chapter 6 System Type Estimates and Trend Analysis
6.1 System Type Movement Analysis & Market Share, 2022 & 2030
6.2 Commercial Refrigeration Equipment Market Estimates & Forecast, By System Type (USD Million)
6.2.1 Self-Contained
6.2.2 Remotely Operated
Chapter 7 Capacity Estimates and Trend Analysis
7.1 Capacity Movement Analysis & Market Share, 2022 & 2030
7.2 Commercial Refrigeration Equipment Market Estimates & Forecast, By Capacity (USD Million)
7.2.1 Less than 50 cu. Ft
7.2.2 51 cu. Ft - 100 cu. Ft
7.2.3 More than 100 cu. Ft
Chapter 8 Regional Estimates & Trend Analysis
8.1 Commercial Refrigeration Equipment Market: Regional Outlook
8.2 North America
8.2.1 North America Commercial Refrigeration Equipment market estimates & Forecasts, 2018 - 2030 (USD Million)
8.2.2 U.S.
8.2.2.1 U.S. Commercial Refrigeration Equipment market estimates & Forecasts, 2018 - 2030 (USD Million)
8.2.3 Canada
8.2.3.1 Canada Commercial Refrigeration Equipment market estimates & Forecasts, 2018 - 2030 (USD Million)
8.3 Europe
8.3.1 Europe Commercial Refrigeration Equipment market estimates & Forecasts, 2018 - 2030 (USD Million)
8.3.2 Germany
8.3.2.1 Germany Commercial Refrigeration Equipment market estimates & Forecasts, 2018 - 2030 (USD Million)
8.3.3 U.K.
8.3.3.1 U.K. Commercial Refrigeration Equipment market estimates & Forecasts, 2018 - 2030 (USD Million)
8.4 Asia Pacific
8.4.1 Asia Pacific Commercial Refrigeration Equipment market estimates & Forecasts, 2018 - 2030 (USD Million)
8.4.2 China
8.4.2.1 China Commercial Refrigeration Equipment market estimates & Forecasts, 2018 - 2030 (USD Million)
8.4.3 India
8.4.3.1 India Commercial Refrigeration Equipment market estimates & Forecasts, 2018 - 2030 (USD Million)
8.4.4 Japan
8.4.4.1 Japan Commercial Refrigeration Equipment market estimates & Forecasts, 2018 - 2030 (USD Million)
8.5 Latin America
8.5.1 Latin America Commercial Refrigeration Equipment market estimates & Forecasts, 2018 - 2030 (USD Million)
8.5.2 Brazil
8.5.2.1 Brazil Commercial Refrigeration Equipment market estimates & Forecasts, 2018 - 2030 (USD Million)
8.5.3 Mexico
8.5.3.1 Mexico Commercial Refrigeration Equipment market estimates & Forecasts, 2018 - 2030 (USD Million)
8.6 Middle East and Africa
8.6.1 Middle East and Africa Commercial Refrigeration Equipment market estimates & Forecasts, 2018 - 2030 (USD Million)
Chapter 9 Competitive Landscape
7.1 Key Participants
7.1.1. AHT Cooling Systems GmbH
7.1.2. Ali Group S.r.l. a Socio Unico
7.1.3. Carrier
7.1.4. Daikin Industries, Ltd.
7.1.5. Dover Corporation
7.1.6. Electrolux AB
7.1.7. Hussmann Corporation
7.1.8. Illinois Tool Works Inc.
7.1.9. Johnson Control
7.1.10. Lennox International Inc.
7.1.11. Panasonic Corporation
7.1.12. Whirlpool Corporation
7.2 Recent Development & Impact, By Key Market Participants
7.3 Company Categorization
7.4 Participant’s Overview
7.5 Financial Performance
7.6 Product Benchmarking
7.7 Company Heat Map Analysis
7.8 Company Market Share Analysis, 2022
7.9 Strategy Mapping
7.9.1 Expansion
7.9.2 Mergers & acquisition
7.9.3 Collaborations
7.9.4 New product launches
List of Tables
Table 1 Unacceptable Substitutes for (Ozone-depleting Substances) ODS in Refrigeration and Air Conditioning
Table 2 Key market driver impact
Table 3 Key market restraint impact
Table 4 Key market opportunity impact
Table 5 Canada Refrigerant Regulation
Table 6 Global export data for 2018 to 2021 (USD Million)
Table 7 Global import data for 2018 to 2021 (USD Million)
Table 8 Key Distributors Analysis
Table 9 Other Distributors and Manufacturers
Table 10 Global Commercial Refrigeration Equipment Market Revenue Estimates and Forecast, By Product, 2018 - 2030 (USD Million)
Table 11 Global Commercial Refrigeration Equipment Market Revenue Estimates and Forecast, By Application, 2018 - 2030 (USD Million)
Table 12 Global Commercial Refrigeration Equipment Market Revenue Estimates and Forecast, By Food & Beverage Retail, 2018 - 2030 (USD Million)
Table 13 Global Commercial Refrigeration Equipment Market Revenue Estimates and Forecast, By System Type, 2018 - 2030 (USD Million)
Table 14 Global Commercial Refrigeration Equipment Market Revenue Estimates and Forecast, By Capacity, 2018 - 2030 (USD Million)
Table 15 Recent Developments & Impact Analysis, By Key Market Participants
Table 16 Company Market Share, 2022
Table 17 Company Heat Map Analysis
Table 18 Key Companies undergoing expansions
Table 19 Key Companies involved in Merger & Acquisitions
Table 20 Key Companies undergoing collaborations
Table 21 Key Companies launching new products
Table 22 Key Companies divesture/discontinuation
List of Figures
Fig. 1 Commercial Refrigeration Equipment Market Segmentation
Fig. 2 Information Procurement
Fig. 3 Data Analysis Models
Fig. 4 Market Formulation and Validation
Fig. 5 Data Validating & Publishing
Fig. 6 Market Snapshot
Fig. 7 Segment Snapshot (1/2)
Fig. 8 Segment Snapshot (2/2)
Fig. 9 Competitive Landscape Snapshot
Fig. 10 Commercial Refrigeration Equipment Market Value, 2022 and 2030, (USD Million)
Fig. 11 Commercial Refrigeration Equipment- Industry Value Chain Analysis
Fig. 12 Commercial Refrigeration Equipment Market Dynamics
Fig. 14 Import of refrigerators, freezers, and other refrigerating equipment, electric or others in the U.S., 2021
Fig. 15 Export of refrigerators, freezers, and other refrigerating equipment, electric or others in the U.S., 2021
Fig. 16 Import of refrigerators, freezers, and other refrigerating equipment, electric or others in Canada, 2021
Fig. 17 Export of refrigerators, freezers, and other refrigerating equipment, electric or others in Canada, 2021
Fig. 18 Commercial Refrigeration Equipment Market: PORTER’s Analysis
Fig. 19 Commercial Refrigeration Equipment Market: PESTEL Analysis
Fig. 20 Commercial Refrigeration Equipment Market, by Product: Key Takeaways
Fig. 21 Commercial Refrigeration Equipment Market, by Product: Market Share, 2022 & 2030
Fig. 22 Transportation refrigeration equipment market estimates & forecasts, 2018 - 2030 (USD Million)
Fig. 23 Refrigerators and freezers market estimates & forecasts, 2018 - 2030 (USD Million)
Fig. 24 Beverage refrigeration market estimates & forecasts, 2018 - 2030 (USD Million)
Fig. 25 Display showcases market estimates & forecasts, 2018 - 2030 (USD Million)
Fig. 26 Ice merchandisers & ice vending equipment market estimates & forecasts, 2018 - 2030 (USD Million)
Fig. 27 Other equipment market estimates & forecasts, 2018 - 2030 (USD Million)
Fig. 28 Commercial Refrigeration Equipment Market, By Application: Key Takeaways
Fig. 29 Commercial Refrigeration Equipment Market, By Application: Market Share, 2022 & 2030
Fig. 30 Food service market estimates & forecasts, 2018 - 2030 (USD Million)
Fig. 31 Food & beverage retail market estimates & forecasts, 2018 - 2030 (USD Million)
Fig. 32 Food & beverage distribution market estimates & forecasts, 2018 - 2030 (USD Million)
Fig. 33 Food & beverage production market estimates & forecasts, 2018 - 2030 (USD Million)
Fig. 34 Others market estimates & forecasts, 2018 - 2030 (USD Million)
Fig. 35 Commercial Refrigeration Equipment Market, By System Type: Key Takeaways
Fig. 36 Commercial Refrigeration Equipment Market, By System Type: Market Share, 2022 & 2030
Fig. 37 Self-contained market estimates & forecasts, 2018 - 2030 (USD Million)
Fig. 38 Remotely operated market estimates & forecasts, 2018 - 2030 (USD Million)
Fig. 39 Commercial Refrigeration Equipment Market, By Capacity: Key Takeaways
Fig. 40 Commercial Refrigeration Equipment Market, By Capacity: Market Share, 2022 & 2030
Fig. 41 Less than 50 cu. Ft market estimates & forecasts, 2018 - 2030 (USD Million)
Fig. 42 51 cu. Ft - 100 cu. Ft market estimates & forecasts, 2018 - 2030 (USD Million)
Fig. 43 More than 100 cu. Ft market estimates & forecasts, 2018 - 2030 (USD Million)
Fig. 44 Commercial Refrigeration Equipment Market Revenue By Region, 2022 & 2030 (USD Million)
Fig. 45 Regional marketplace: Key takeaways
Fig. 46 Regional marketplace: Key takeaways
Fig. 47 North America commercial refrigeration equipment market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 48 U.S. commercial refrigeration equipment market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 49 Canada commercial refrigeration equipment market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 50 Europe commercial refrigeration equipment market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 51 Germany commercial refrigeration equipment market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 52 U.K. commercial refrigeration equipment market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 53 Asia Pacific commercial refrigeration equipment market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 54 China commercial refrigeration equipment market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 55 India commercial refrigeration equipment market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 56 Japan commercial refrigeration equipment market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 57 Latin America commercial refrigeration equipment market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 58 Brazil commercial refrigeration equipment market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 59 Mexico commercial refrigeration equipment market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 60 MEA commercial refrigeration equipment market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 61 Key Company Categorization
Fig. 62 Company Market Share Analysis, 2022
Fig. 63 Strategic framework

Companies Mentioned

  • AHT Cooling Systems GmbH
  • Ali Group S.r.l. a Socio Unico
  • Carrier
  • Daikin Industries, Ltd.
  • Dover Corporation
  • Electrolux AB
  • Hussmann Corporation
  • Illinois Tool Works Inc.
  • Johnson Control
  • Lennox International Inc.
  • Panasonic Corporation
  • Whirlpool Corporation

Methodology

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