Commercial Refrigeration Market Report: Trends, Forecast and Competitive Analysis to 2030

Commercial Refrigeration Trends and Forecast

The future of the global commercial refrigeration market looks promising with opportunities in the full service restaurant & hotel, food processing, hospital, retail pharmacy, supermarket/hypermarket, convenience store, and quick service restaurant sectors. The global commercial refrigeration market is expected to reach an estimated $33.7 billion by 2030 with a CAGR of 4.2% from 2024 to 2030. The major drivers for this market are increasing demand for frozen and processed foods, rising awareness of food safety, and growing demand for this refrigerator among organized retail and quick service restaurants.

A more than 150-page report is developed to help in your business decisions.

Commercial Refrigeration by Segment

The study includes a forecast for the global commercial refrigeration by product type, application, end use, and region.

Commercial Refrigeration Market by Product Type [Shipment Analysis by Value from 2018 to 2030]:

• Deep Freezers
• Bottle Coolers
• Storage Water Coolers
• Commercial Kitchen Refrigeration
• Medical Refrigeration
• Chest Refrigeration
• Others

Commercial Refrigeration Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Retail
• Transportation
• Military & Defense
• Law Enforcement Agencies
• Emergency & Medical Services
• Others

Commercial Refrigeration Market by End Use [Shipment Analysis by Value from 2018 to 2030]:

• Full Service Restaurant & Hotels
• Food Processing Industry
• Hospitals
• Retail Pharmacies
• Supermarket/Hypermarket
• Convenience Stores
• Quick Service Restaurants
• Others

Commercial Refrigeration Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Commercial Refrigeration Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies commercial refrigeration companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the commercial refrigeration companies profiled in this report include-

• Panasonic
• Haier Electronics
• Illinois Tool Works
• Daikin Industries
• United Technologies
• Frigoglass
• Johnson Controls
• Ali Group
• Dover
• AB Electrolux

Commercial Refrigeration Market Insights

Lucintel forecasts that deep freezer will remain the largest segment over the forecast period due to their utility in storing food and other products at very low temperatures, typically below -18 degrees celsius.

Within this market, full service restaurant & hotel will remain the largest segment due to rising need for variety of commercial refrigeration equipment in these spaces to store and prepare food and beverages.

APAC will remain the largest region over the forecast period due to rising adoption of frozen food and confections among populations and expanding number of food outlets and retail pharmacies in the region.

Features of the Global Commercial Refrigeration Market

Market Size Estimates: Commercial refrigeration market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Commercial refrigeration market size by product type, application, end use, and region in terms of value ($B).

Regional Analysis: Commercial refrigeration market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different product types, applications, end uses, and regions for the commercial refrigeration market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the commercial refrigeration market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the commercial refrigeration market size?

Answer: The global commercial refrigeration market is expected to reach an estimated $33.7 billion by 2030.

Q2. What is the growth forecast for commercial refrigeration market?

Answer: The global commercial refrigeration market is expected to grow with a CAGR of 4.2% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the commercial refrigeration market?

Answer: The major drivers for this market are increasing demand for frozen and processed foods, rising awareness of food safety, and growing demand for this refrigerator among organized retail and quick service restaurants.

Q4. What are the major segments for commercial refrigeration market?

Answer: The future of the commercial refrigeration market looks promising with opportunities in the full service restaurant & hotel, food processing, hospital, retail pharmacy, supermarket/hypermarket, convenience store, and quick service restaurant sectors.

Q5. Who are the key commercial refrigeration market companies?

Answer: Some of the key commercial refrigeration companies are as follows:

• Panasonic
• Haier Electronics
• Illinois Tool Works
• Daikin Industries
• United Technologies
• Frigoglass
• Johnson Controls
• Ali Group
• Dover
• AB Electrolux

Q6. Which commercial refrigeration market segment will be the largest in future?

Answer: Lucintel forecasts that deep freezer will remain the largest segment over the forecast period due to their utility in storing food and other products at very low temperatures, typically below -18 degrees celsius.

Q7. In commercial refrigeration market, which region is expected to be the largest in next 5 years?

Answer: APAC will remain the largest region over the forecast period due to rising adoption of frozen food and confections among populations and expanding number of food outlets and retail pharmacies in the region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the commercial refrigeration market by product type (deep freezers, bottle coolers, storage water coolers, commercial kitchen refrigeration, medical refrigeration, chest refrigeration, and others), application (retail, transportation, military & defense, law enforcement agencies, emergency & medical services, and others), end use (full service restaurant & hotels, food processing industry, hospitals, retail pharmacies, supermarket/hypermarket, convenience stores, quick service restaurants, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?