February 18, 2025
Commercial Refrigeration Equipment Market

Commercial Refrigeration Equipment is the largest segment driving the growth of Commercial Refrigeration Equipment Market

The global Commercial Refrigeration Equipment Market is estimated to be valued at US$ 55.89 Bn in 2023 and is expected to exhibit a CAGR of 4.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Commercial refrigeration equipment refers to large-scale refrigeration systems that are used for food storage and display in supermarkets, hypermarkets, food processing units and restaurants. These equipment provide efficient cooling and temperature maintenance at food retail outlets and help reduce food wastage.

Market key trends:

One of the key trends in the commercial refrigeration equipment market is the growing adoption of natural refrigerants. Natural refrigerants like ammonia, hydrocarbon and CO2 offer significant advantages over synthetic refrigerants as they have zero ozone depletion potential and low global warming potential. Furthermore, stringent government regulations regarding the usage of hydrofluorocarbons (HFCs) are further propelling the demand for natural refrigerant based commercial refrigeration systems. For instance, the U.S. Environment Protection Agency has implemented regulations to phase down the production and consumption of HFCs in line with the Kigali Amendment of the Montreal Protocol.

Market key trends:

Growing demand for energy efficient refrigeration systems is one of the key trends driving growth of the commercial refrigeration equipment market. With growing concerns over the environmental impact of commercial refrigeration, there is increasing demand for eco-friendly refrigerants that have low global warming potential. This has propelled innovation towards the development of sustainable refrigeration technologies like transcritical CO2 systems. Businesses are also increasingly adopting smart refrigeration systems that offer real-time monitoring and control capabilities, helping optimize temperature consistency and reduce operating costs.

SWOT Analysis

Strengths: Energy efficient and smart refrigeration technologies help reduce business expenses. Wide product offerings catering to various commercial segments.

Weaknesses: High initial investments required for commercial refrigeration equipment. Strict regulations pertaining to use of environment-friendly refrigerants increases costs.

Opportunities: Rising food retail sector in emerging nations to propel demand. Growing adoption of organic and frozen foods offer new opportunities.

Threats: Volatility in raw material prices can squeeze profits. Growth of commercial food delivery may reduce need for on-site refrigeration.

Key Takeaways

The global Commercial Refrigeration Equipment Market size is expected to witness high growth, exhibiting CAGR of 4.7% over the forecast period, due to increasing food retail sales.

Regional analysis: Asia Pacific region is expected to dominate the market and exhibit fastest growth during the forecast period owing to rapid expansion of organized retail and food service industries in countries such as China and India.

Key players operating in the Commercial Refrigeration Equipment market are United Technologies Corporation, Ingersoll-Rand plc, Johnson Controls Incorporated, Daikin Industries Limited, Dover Corporation, Hussmann Corporation, AHT Cooling Systems GmbH, Ali SpA, Illinois Tool Works Incorporated, Emerson Electric Company, Leer Incorporated, True Manufacturing Company Incorporated, and Whirlpool Corporation.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it

Money Singh
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Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. 

Money Singh

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. 

View all posts by Money Singh →