Commercial Refrigeration Equipment Market Report 2026

The commercial refrigeration equipment market size has grown strongly in recent years. It will grow from $57.41 billion in 2025 to $61.63 billion in 2026 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to expansion of food retail and hospitality sectors, increasing cold chain infrastructure, rising demand for perishable food storage, availability of commercial refrigeration solutions, tightening food safety regulations.

The commercial refrigeration equipment market size is expected to see steady growth in the next few years. It will grow to $72.16 billion in 2030 at a compound annual growth rate (CAGR) of 4%. The growth in the forecast period can be attributed to increasing adoption of eco-friendly refrigerants, expansion of connected refrigeration systems, growing investments in cold storage logistics, demand for energy optimization, adoption of automation in refrigeration management. Major trends in the forecast period include adoption of natural and low-gwp refrigerants, expansion of smart refrigeration monitoring systems, rising demand for energy-efficient cooling equipment, growth of modular refrigeration units, integration of predictive maintenance features.

The expansion of the food and beverage industry is expected to drive the growth of the commercial refrigeration equipment market going forward. The food and beverage industry includes a broad range of businesses and establishments, such as restaurants, engaged in preparing, serving, and delivering food and beverages to consumers. Commercial refrigeration equipment is essential in this industry as it ensures proper storage and preservation of perishable goods, supporting food safety, freshness, and product quality. For example, in December 2024, FoodNavigator, a UK-based online B2B digital media platform, reported that total consumer-packaged-goods (CPG) store sales volumes for food and beverages increased by 1.1% in 2024, marking the first rise in three years. Therefore, the expansion of the food and beverage industry is fueling the growth of the commercial refrigeration equipment market.

Major companies in the commercial refrigeration equipment market are prioritizing the development of innovative products, such as transport refrigeration units, to gain a competitive advantage. A transport refrigeration unit, commonly known as a reefer, is a specialized system that maintains controlled temperatures during the transportation of perishable goods, including food and pharmaceuticals, ensuring their integrity throughout the supply chain. For instance, in November 2023, Daikin, a Japan-based multinational conglomerate, introduced the Daikin Exigo Trailer Refrigeration Unit. This unit features an electric architecture designed for optimal efficiency and is currently operational for transporting food and pharmaceuticals. The innovative unit reflects Daikin's commitment to reducing emissions and enhancing the integrity of the cold chain.

In May 2023, Carrier Global Corporation, a US-based multinational firm, acquired Viessmann Climate Solutions for approximately $13.3 billion (€12 billion). This acquisition aims to position Carrier as a global leader in intelligent climate and energy solutions, particularly within the rapidly growing market for heat pumps and renewable energy technologies. The acquisition will allow Carrier to leverage Viessmann's established presence in the European residential market, creating an unparalleled market leader across North America and Europe. Viessmann Climate Solutions is the largest segment of the Viessmann Group, a Germany-based manufacturing company that specializes in providing refrigeration systems.

Major companies operating in the commercial refrigeration equipment market are Haier Group Corporation, Daikin Industries Ltd., Johnson Controls International plc, Carrier Commercial Refrigeration Inc., Danfoss A/S, Whirlpool Corporation, Illinois Tool Works Inc., Liebherr Group, Emerson Electric Co., AB Electrolux, Dover Corporation, Blue Star Limited, Ingersoll Rand Inc., GEA Group AG, Lennox International Inc., Manitowoc Company Inc., Hussmann Corporation, Traulsen & Company LLC, Ali Group S.r.l., Beverage-Air Corporation, True Manufacturing Co. Inc., Metalfrio Solutions S.A., Frigoglass SAIC, AHT Cooling Systems GmbH, Scotsman Industries Inc., Williams Refrigeration, Master-Bilt Products, Foster Refrigerator, Hoshizaki Corporation, Gram Commercial A/S, Skope Industries Limited, Precision Refrigeration Ltd., Arneg S.p.A.

Asia-Pacific was the largest region in the commercial refrigeration equipment market in 2025. North America was the second largest region in the global commercial refrigeration equipment market share. The regions covered in the commercial refrigeration equipment market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the commercial refrigeration equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Commercial refrigeration equipment market consists of sales of plug-in enclosed vending machines, deli cases, drop in coolers and others. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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