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Global Commercial Refrigeration Equipment Market- By Product Type (Refrigerator & Freezer, Transportation Refrigeration, Refrigerated Display Cases, Beverage Refrigeration, Ice Cream Merchandiser, Refrigerated Vending Machine), By Refrigerant Type (Fluorocarbons, Hydrocarbons, Inorganics), By Application (Hotels & Restaurants, Supermarkets & Hypermarkets, Convenience Stores, Bakery), and By Region (North America, Europe, Asia Pacific, South America, and Middle East, & Africa)- Global forecast from 2020-2027.
Description
Global Commercial Refrigeration Equipment Market Overview:
The commercial refrigeration system consists of various equipment such as compressors, condensers, evaporators, expansion devices, etc. The function of refrigerator equipment is to remove the heat of the hot vapor refrigerant dispensed from the compressor. The evaporator is used in the low-pressure side of a refrigeration system. The commercial refrigerator is majorly used equipment that is capable of operating at or above 32F. Global Commercial Refrigeration Equipment Market Insights The global commercial refrigeration equipment market was valued at USD41.42 billion in 2022 and it is expected to reach USD 57.81 billion in 2030 with an exponential CAGR of 5.8% in the forecast period from 2022-2030. The market demand for commercial refrigeration equipment is fueling due to the development of restaurant chains and organized retail (supermarkets and hypermarkets) and the increasing demand for ready-to-eat products. The progress in the demand for commercial refrigeration equipment will be driven by the increase in capital, driving the growth of the investment environment and retail food industry. Advancement will be driven by increased capital investment in the climate and the expected growth of commercial refrigeration users in the food and food retail industry with heavy equipment. Food industry participants will strive to reduce operating costs and improve refrigeration efficiency equipment, helping to drive sales. With the development of various industries, the requirements for refrigeration equipment are becoming higher and higher. In addition to the new environmental protection demands of traditional large-scale commercial systems, more commercial systems use ammonia as a refrigerant. Moreover, in developing countries, consumers living in urban areas have higher disposable incomes than consumers in rural areas. In recent years, the developed countries’ governments have proposed new development projects for smart city areas. Therefore, as the level of urbanization increases, the demand for refrigeration equipment in food retail, medium-sized grocery stores, supermarkets, and first- and second-tier supermarkets will also increase. Growth Driver Rising demand for magnetic systems in refrigeration equipment The market share for commercial refrigeration equipment is rising mainly due to the growing stringency of regulations based on rising concerns regarding the use of harmful refrigerants. The results of global warming are providing substantial growth opportunities to the commercial refrigeration equipment market. Magnetic systems use green technology that has high energy efficiency and requires low maintenance. Moreover, these systems are capable of saving 30% of energy reducing the emission of hazardous gases, and minimizing operational cost. Demand for Meat and Dairy Products The demand for healthy and less time-consuming food is fueling the market share for commercial refrigeration equipment across the world. This is mainly due to the rising and changing working culture he developed countries and urban cities where a large number of women are working. Thus, their busy schedules increased the adoption of packaged food, mainly meat, seafood, and dairy products. Moreover, coupled with an increase in dairy product consumption, it has fueled the use of cheese, butter, and other products. By Product Type Segmental Analysis Based on the Product type, the global commercial refrigeration equipment market is segmented into Refrigerator & Freezer, Transportation Refrigeration, Refrigerated Display Cases, Beverage Refrigeration, Ice Cream Merchandiser, and Refrigerated Vending Machine. The transportation refrigerated segmis ent estimated to dominate the maximum share of the global commercial refrigeration equipment market. This is mainly due to the emerging market demand for ready-to-eat food, packaged food, and meat and seafood. The need for keeping fresh and improving the shelves of perishable food transportable refrigerators is fueling the market demand for the global commercial refrigeration equipment market. Moreover, with rising urbanization, the rising food retail industry is also increasing the transportation refrigerator market share. By Refrigerant Type Segmental Analysis Based on the refrigerant type, the global commercial refrigeration equipment market is classified into Fluorocarbons, Hydrocarbons, and Inorganics. The fluorocarbons segment dominated the largest market share in the global commercial refrigeration equipment market. The commercial refrigeration equipment majorly includes CFC-12, HCFC-22, CFC-500, and 502 R-12 used for medium temperature applicants such as meat, dairy, and coolers. Fluorocarbons contain organic compounds that consist of fluorine and carbon. HFCs are used to absorb and trap heat or infrared radiation in the lower atmosphere. Therefore, the demand for the global commercial refrigeration equipment market is emerging with the use of fluorocarbons. By Application Segmental Analysis Based on the application, the global commercial refrigeration equipment market is segmented into Hotels & Restaurants, Supermarkets & Hypermarkets, Convenience Stores, and Bakery. The hotel & restaurant segment contributes the largest share of the global commercial refrigeration equipment market. The demand for various commercial refrigeration equipment such as refrigerator vending machines and other display machines is rising for storing beverages and used as selling points in hotel and micro markets. Moreover, the propelling market share captured by FMCG products that include ready-to-eat food such as sandwiches, salads, and beverages is contributing to the hotel & restaurant segment. By Region Segmental Analysis Based on geography, the global commercial refrigeration equipment market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The Asia Pacific is the world’s fastest-growing global commercial refrigeration equipment market, accounting for the highest share. It is mainly due to an increasing disposable income of the consumer; the adoption of consumer appliances increases the market share for the commercial refrigeration equipment market. Moreover, the growing manufacturing sector is also fueling the market share for the global commercial refrigeration equipment market. Competitor Analysis Companies such as Dover Corp, Daikin Industries Ltd, Carrier Commercial Refrigeration, Inc., Johnson Control, Inc., Haier Group Corp, and others are key players in the global commercial refrigeration equipment market. Key Stakeholders- Market research and consulting firms
- Industry associations
- Global commercial refrigeration equipment manufacturing companies
- Research organizations and consulting companies’ commercial refrigeration equipment
- Regulatory bodies
Recent Developments
- In January 2022, Carrier Commercial Refrigeration installed its PowerCO2OL refrigeration system at a COVID-19 vaccine storage warehouse in Spain. This procedure uses carbon dioxide, a natural refrigerant, and functions as a sustainable and low global warming potential refrigerant to support and preserve critical vaccines in Spain.
- In January 2024, Hussmann Corporation, a retail refrigeration systems company, launched Evolve Technologies, a new offering concentrated on the development of technologies that enable the use of environmentally friendly refrigerants.
The objective of the Research
- Market modeling starts with identifying a target market where historical data exists. A Market can include prediction problems, economic factors, analyzing customer behavior, and identifying new patterns from past events, which helps our client to have deep dive into the market.
- Product analysis involves steps such as examining product features, costs, availability, quality, and other aspects. Product analysis is conducted to understand potential buyers and measure competition in the market.
- Market Trend and Economic Factors Analysis helps in assessing potential changes to an economy’s inflation rate, taxes, interest rates, exchange rates, trading regulations, and excise duties that can or have a major effect on the target market.
- Market Segmental Analysis defines in-depth scenario of the target market by the process of grouping consumers into naturally existing created segments of consumers who share similar product preferences or characteristics
- The geographical mapping approach helps our clients to understand national or international markets because different consumers in different regions have different needs wants, and cultural characteristics that can be specifically targeted.
Market Modelling
By Product Type- Refrigerator & Freezer
- Transportation Refrigeration
- Refrigerated Display Cases
- Beverage Refrigeration
- Ice Cream Merchandiser
- Refrigerated Vending Machine
- Fluorocarbons
- Hydrocarbons
- Inorganics
- Hotels & Restaurants
- Supermarkets & Hypermarkets
- Convenience Stores
- Bakery
- Europe
- North America
- Asia Pacific
- South America
- Middle East & Africa
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Table Of Contents
Global Commercial Refrigeration Equipment Market
Report Content
- Research Strategic Development
- Market Modelling
- Product Analysis
- Market Trend and Economic Factors Analysis
- Market Segmental Analysis
- Geographical Mapping
- Country Wise Segregation
- Research Methodology
- Identification of Target Market
- Data Acquisition
- Refining of Data/ Data Transformations
- Data Validation through Primary Techniques
- Exploratory Data Analysis
- Graphical Techniques/Analysis
- Quantitative Techniques/Analysis
- Visual Result/Presentation
- Executive Summary
- Market Insights
- Economic Factor Analysis
- Drivers
- Trends
- Opportunities
- Challenges
- Competitors & Product Analysis
- Regulatory Framework
- Company market share analysis, 2019
- Porter’s Five forces analysis
- New Investment Analysis
- PESTEL Analysis
- Economic Factor Analysis
- Global Commercial Refrigeration Equipment Market Overview
- Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Million)
- Market Share & Forecast, 2016-2027
- By Product Type
- Refrigerator & Freezer
- Transportation Refrigeration
- Refrigerated Display Cases
- Beverage Refrigeration
- Ice Cream Merchandiser
- Refrigerated Vending Machine
- By Refrigerant Type
- Fluorocarbons
- Hydrocarbons
- Inorganics
- By Application
- Hotels & Restaurants
- Supermarkets & Hypermarkets
- Convenience Stores
- Bakery
- By Region
- Europe
- North America
- Asia Pacific
- South America
- Middle East & Africa
- By Product Type
- Demand
- Market Size & Forecast, 2016-2027
- Europe Commercial Refrigeration Equipment Market Overview
- Europe Commercial Refrigeration Equipment Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Million)
- Europe Commercial Refrigeration Equipment Market Share & Forecast, 2016-2027
- By Product Type
- Refrigerator & Freezer
- Transportation Refrigeration
- Refrigerated Display Cases
- Beverage Refrigeration
- Ice Cream Merchandiser
- Refrigerated Vending Machine
- By Refrigerant Type
- Fluorocarbons
- Hydrocarbons
- Inorganics
- By Application
- Hotels & Restaurants
- Supermarkets & Hypermarkets
- Convenience Stores
- Bakery
- By Country
- Germany
- UK
- France
- Italy
- Rest of Europe
- Company Market Share (Top 3-5)
- Economic Impact Study on Europe Commercial Refrigeration Equipment Market
- By Product Type
- Demand
- Europe Commercial Refrigeration Equipment Market Size & Forecast, 2016-2027
- North America Commercial Refrigeration Equipment Market Overview
- North America Commercial Refrigeration Equipment Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Million)
- North America Commercial Refrigeration Equipment Market Share & Forecast, 2016-2027
- By Product Type
- Refrigerator & Freezer
- Transportation Refrigeration
- Refrigerated Display Cases
- Beverage Refrigeration
- Ice Cream Merchandiser
- Refrigerated Vending Machine
- By Refrigerant Type
- Fluorocarbons
- Hydrocarbons
- Inorganics
- By Application
- Hotels & Restaurants
- Supermarkets & Hypermarkets
- Convenience Stores
- Bakery
- By Country
- US
- Canada
- Mexico
- Company Market Share (Top 3-5)
- Economic Impact Study on North America Commercial Refrigeration Equipment Market
- By Product Type
- Demand
- North America Commercial Refrigeration Equipment Market Size & Forecast, 2016-2027
- Asia Pacific Commercial Refrigeration Equipment Market Overview
- Asia Pacific Commercial Refrigeration Equipment Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Million)
- Asia Pacific Commercial Refrigeration Equipment Market Share & Forecast, 2016-2027
- By Product Type
- Refrigerator & Freezer
- Transportation Refrigeration
- Refrigerated Display Cases
- Beverage Refrigeration
- Ice Cream Merchandiser
- Refrigerated Vending Machine
- By Refrigerant Type
- Fluorocarbons
- Hydrocarbons
- Inorganics
- By Application
- Hotels & Restaurants
- Supermarkets & Hypermarkets
- Convenience Stores
- Bakery
- By Country
- China
- India
- Japan
- Australia
- Rest of Asia Pacific
- Company Market Share (Top 3-5)
- Economic Commercial Refrigeration Equipment Market Overview
- By Product Type
- South America Commercial Refrigeration Equipment Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Million)
- South America Commercial Refrigeration Equipment Market Share & Forecast, 2016-2027
- By Product Type
- Refrigerator & Freezer
- Transportation Refrigeration
- Refrigerated Display Cases
- Beverage Refrigeration
- Ice Cream Merchandiser
- Refrigerated Vending Machine
- By Refrigerant Type
- Fluorocarbons
- Hydrocarbons
- Inorganics
- By Application
- Hotels & Restaurants
- Supermarkets & Hypermarkets
- Convenience Stores
- Bakery
- By Country
- Brazil
- Argentina
- Rest of South America
- Company Market Share (Top 3-5)
- Economic Impact Study on South America Commercial Refrigeration Equipment Market
- By Product Type
- Demand
- Demand
- Asia Pacific Commercial Refrigeration Equipment Market Size & Forecast, 2016-2027
- Middle East & Africa Commercial Refrigeration Equipment Market Overview
- Middle East & Africa Commercial Refrigeration Equipment Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Million)
- Middle East & Africa Commercial Refrigeration Equipment Market Share & Forecast, 2016-2027
- By Product Type
- Refrigerator & Freezer
- Transportation Refrigeration
- Refrigerated Display Cases
- Beverage Refrigeration
- Ice Cream Merchandiser
- Refrigerated Vending Machine
- By Refrigerant Type
- Fluorocarbons
- Hydrocarbons
- Inorganics
- By Application
- Hotels & Restaurants
- Supermarkets & Hypermarkets
- Convenience Stores
- Bakery
- By Country
- Saudi Arabia
- UAE
- South Africa
- Rest of Middle East & Africa
- Company Market Share (Top 3-5)
- Economic Impact Study on Middle East & Africa Commercial Refrigeration Equipment Market
- By Product Type
- Demand
- Middle East & Africa Commercial Refrigeration Equipment Market Size & Forecast, 2016-2027
- Competitor Analysis
- Company Description
- Financial Analysis
- Key Products
- Key Management Personnel
- Contact Address
- SWOT Analysis
- Company Profile
- Dover Corp
- Daikin Industries Ltd
- Carrier Commercial Refrigeration, Inc
- Johnson Control, Inc.
- Haier Group Corp
- Other players
Methodology
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Frequently Asked Questions(FAQ)
The global commercial refrigeration equipment market was valued at USD41.42 billion in 2022 and it is expected to reach USD 57.81 billion in 2030 with an exponential CAGR of 5.8% in the forecast period from 2022-2030.
The progress in the demand for commercial refrigeration equipment will be driven by the increase in capital, driving the growth of the investment environment and retail food industry.
The Asia Pacific is the world’s fastest-growing global commercial refrigeration equipment market, accounting for the highest share.
Companies such as Dover Corp, Daikin Industries Ltd, Carrier Commercial Refrigeration, Inc., Johnson Control, Inc., Haier Group Corp, and others are key players in the global commercial refrigeration equipment market.
