Commercial Refrigerators Market: By Refrigerator Type, By End Users, and Region Forecast 2019-2030

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Commercial Refrigerators Market Size, Share, Growth, Trends, and Global Industry Analysis: By Refrigerator Type (Beverage Refrigerators, Refrigerated Display Cases, Refrigerated Vending Machines, Refrigerators & Freezers, Others), By End Users (Supermarkets and Hypermarkets, Departmental Stores and Convenience Stores, Bakery Stores, Government, Hospitality, Offices and Buildings), and Region Forecast 2019-2030

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Commercial Refrigerators Market size was valued at US$ 32,766.3 million in 2023 and is poised to grow at a significant CAGR of 6.5% from 2024-2030. A commercial refrigerator is equipment that eliminates excess heat from a source or material to keep the temperature below that of its surroundings. Commercial refrigeration equipment is used to preserve food such as vegetables, fruits, meat, and other similar goods by maintaining a set temperature to improve a product's shelf life.

The refrigerators & freezers segment is anticipated to grow at a significant CAGR over the forecast years owing to a significant increase in demand for frozen goods, processed foods and seafood products. Moreover, continuous innovation and quick advances in technology, such as liquid-vapor compression and ammonia absorption systems, are driving refrigerator products in the future.

Moreover, players in the market are focusing on innovation and new technologies to enhance their market share in the market.  Mormon Food Service technologies Inc. introduced a new IDC Pro Installation Genie, a self-guided tool to help technicians easily expedite field installations to customers up and running. Increasing demand for ready-to-eat food products due to rapid growth in population and increase in the number of supermarkets/hypermarkets further boost the overall sales of market.

Commercial Refrigerators Market Key Developments

  • In July 2021, BITZER launched gas coolers for carbon dioxide (CO2) applications in commercial and light industry refrigeration. These coolers provide resistance to pressure and thermal efficiency. They offer an advantage for systems with medium or large capacities of more than 250 kW
  • In May 2021, Danfoss launches multi-refrigerant, A2L-ready condensing units for ultra-low GWP installations. It comes with high energy efficiency and reduces the consumption of energy and indirect emissions.

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Commercial Refrigerators Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

6.5%

Largest Market

Asia-Pacific

Fastest Growing Market

North America

Commercial Refrigerators Market Dynamics

Commercial refrigerators market equipment is gaining popularity due to increasing demand for for frozen and chilled items due to lifestyle changes and growing urbanization. Furthermore, significant expansion in the organized retail sector, such as an increase in the number of hypermarkets and supermarkets enhances total sales of commercial refrigerators. Moreover, the market share for supermarkets and hypermarkets been increasing due to grow in number of stores such as Albertsons, ALDI, Costco, Food Lion, Kroger, Publix, Safeway, Wal-Mart Supercenter, and others in various states and country.

Commercial Refrigerators Market Segmentation Analysis

Report Benchmarks

Details

Report Study Period

2024-2030

Market Size in 2023

US$ 32,766.3 million

Market CAGR

6.5%

By Refrigerator Type

  • Beverage Refrigerators
  • Refrigerated Display Cases
  • Refrigerated Vending Machines
  • Refrigerators & Freezers
  • Others

By End User

  • Supermarkets and Hypermarkets
  • Departmental Stores and Convenience Stores
  • Bakery Stores
  • Government
  • Hospitality
  • Offices
  • Buildings

By Region

  • North America (U.S., Canada)
  • Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
  • Asia-Pacific (China, India, Japan, Australia, Southeast Asia, Rest of Asia Pacific)
  • Latin America (Mexico, Brazil, Argentina, Columbia, Rest of Latin America)
  • Middle East & Africa (GCC, Egypt, Nigeria, South Africa, Rest of Middle East and Africa)

Key Features of the Report

  • The commercial refrigerators market report provides granular level information about the Market size, regional Market share, historic Market (2019-2023), and forecast (2024-2030)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key Market developments, and key strategies.
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the Market.
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the Market.
  • The report provides a plethora of information about Market entry strategies, regulatory framework, and reimbursement scenarios.
  • The report analyses the impact of the socio-political environment through PESTLE Analysis and competition through Porter's Five Force Analysis.

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Frequently Asked Questions

The commercial refrigerators market size was valued at US$ 32,766.3 million in 2023 and is set to grow at a significant CAGR of 6.5% from 2024-2030.

The market key players are: Ab Electrolux Daikin Industries Ltd. Dover Corporation Frigoglass S.A.I.C. Haier Electronics Group Co., Ltd. Illinois Tool Works Inc. Johnson Controls International Plc Panasonic Corporation United Technologies Corporation Ali Group S.R.L.

The market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.

1. Executive Summary
2. Global Commercial Refrigerators Market Introduction 
2.1.Global Commercial Refrigerators Market  - Taxonomy
2.2.Global Commercial Refrigerators Market  - Definitions
2.2.1.Refrigerator Type
2.2.2.End User
2.2.3.Geography
2.2.4.Region
3. Global Commercial Refrigerators Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Product Landscape
3.6. New Product Launches
3.7. Impact of COVID 19 on Market
4. Global Commercial Refrigerators Market Analysis, 2019 - 2023 and Forecast 2024 - 2030
4.1.  Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
4.2.  Year-Over-Year (Y-o-Y) Growth Analysis (%) 
4.3.  Market Opportunity Analysis 
5. Global Commercial Refrigerators Market  By Refrigerator Type, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
5.1. Beverage Refrigerators
5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.1.3. Market Opportunity Analysis 
5.2. Refrigerated Display Cases
5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.2.3. Market Opportunity Analysis 
5.3. Refrigerated Vending Machines
5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.3.3. Market Opportunity Analysis 
5.4. Refrigerators & Freezers
5.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.4.3. Market Opportunity Analysis 
5.5. Others
5.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.5.3. Market Opportunity Analysis 
6. Global Commercial Refrigerators Market  By End User, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
6.1. Supermarkets and Hypermarkets
6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.1.3. Market Opportunity Analysis 
6.2. Departmental Stores and Convenience Stores
6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.2.3. Market Opportunity Analysis 
6.3. Bakery Stores
6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.3.3. Market Opportunity Analysis 
6.4. Government
6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.4.3. Market Opportunity Analysis 
6.5. Hospitality
6.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.5.3. Market Opportunity Analysis 
6.6. Offices
6.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.6.3. Market Opportunity Analysis 
6.7. Buildings
6.7.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.7.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.7.3. Market Opportunity Analysis 
7. Global Commercial Refrigerators Market  By Geography, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
7.1. North America
7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.1.3. Market Opportunity Analysis 
7.2. Europe
7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.2.3. Market Opportunity Analysis 
7.3. The Asia Pacific
7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.3.3. Market Opportunity Analysis 
7.4. Latin America
7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.4.3. Market Opportunity Analysis 
7.5. MEA
7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.5.3. Market Opportunity Analysis 
8. Global Commercial Refrigerators Market  By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
8.1. North America
8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.1.3. Market Opportunity Analysis 
8.2. Europe
8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.2.3. Market Opportunity Analysis 
8.3. Asia Pacific (APAC)
8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.3.3. Market Opportunity Analysis 
8.4. Middle East and Africa (MEA)
8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.4.3. Market Opportunity Analysis 
8.5. Latin America
8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.5.3. Market Opportunity Analysis 
9. North America Commercial Refrigerators Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
9.1. Refrigerator Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.1.1.Beverage Refrigerators
9.1.2.Refrigerated Display Cases
9.1.3.Refrigerated Vending Machines
9.1.4.Refrigerators & Freezers
9.1.5.Others
9.2.  End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.2.1.Supermarkets and Hypermarkets
9.2.2.Departmental Stores and Convenience Stores
9.2.3.Bakery Stores
9.2.4.Government
9.2.5.Hospitality
9.2.6.Offices
9.2.7.Buildings
9.3.  Geography Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.3.1.North America
9.3.2.Europe
9.3.3.The Asia Pacific
9.3.4.Latin America
9.3.5.MEA
9.4.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.4.1.United States of America (USA)
9.4.2.Canada
10. Europe Commercial Refrigerators Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
10.1. Refrigerator Type Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.1.1.Beverage Refrigerators
10.1.2.Refrigerated Display Cases
10.1.3.Refrigerated Vending Machines
10.1.4.Refrigerators & Freezers
10.1.5.Others
10.2.  End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.2.1.Supermarkets and Hypermarkets
10.2.2.Departmental Stores and Convenience Stores
10.2.3.Bakery Stores
10.2.4.Government
10.2.5.Hospitality
10.2.6.Offices
10.2.7.Buildings
10.3.  Geography Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.3.1.North America
10.3.2.Europe
10.3.3.The Asia Pacific
10.3.4.Latin America
10.3.5.MEA
10.4.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.4.1.Germany
10.4.2.France
10.4.3.Italy
10.4.4.United Kingdom (UK)
10.4.5.Spain
10.4.6.Rest of EU
11. Asia Pacific (APAC) Commercial Refrigerators Market,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
11.1. Refrigerator Type Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.1.1.Beverage Refrigerators
11.1.2.Refrigerated Display Cases
11.1.3.Refrigerated Vending Machines
11.1.4.Refrigerators & Freezers
11.1.5.Others
11.2.  End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.2.1.Supermarkets and Hypermarkets
11.2.2.Departmental Stores and Convenience Stores
11.2.3.Bakery Stores
11.2.4.Government
11.2.5.Hospitality
11.2.6.Offices
11.2.7.Buildings
11.3.  Geography Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.3.1.North America
11.3.2.Europe
11.3.3.The Asia Pacific
11.3.4.Latin America
11.3.5.MEA
11.4.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.4.1.China
11.4.2.India
11.4.3.Australia and New Zealand (ANZ)
11.4.4.Japan
11.4.5.Rest of APAC
12. Middle East and Africa (MEA) Commercial Refrigerators Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
12.1. Refrigerator Type Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.1.1.Beverage Refrigerators
12.1.2.Refrigerated Display Cases
12.1.3.Refrigerated Vending Machines
12.1.4.Refrigerators & Freezers
12.1.5.Others
12.2.  End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.2.1.Supermarkets and Hypermarkets
12.2.2.Departmental Stores and Convenience Stores
12.2.3.Bakery Stores
12.2.4.Government
12.2.5.Hospitality
12.2.6.Offices
12.2.7.Buildings
12.3.  Geography Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.3.1.North America
12.3.2.Europe
12.3.3.The Asia Pacific
12.3.4.Latin America
12.3.5.MEA
12.4.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.4.1.GCC Countries
12.4.2.South Africa
12.4.3.Rest of MEA
13. Latin America Commercial Refrigerators Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
13.1. Refrigerator Type Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.1.1.Beverage Refrigerators
13.1.2.Refrigerated Display Cases
13.1.3.Refrigerated Vending Machines
13.1.4.Refrigerators & Freezers
13.1.5.Others
13.2.  End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.2.1.Supermarkets and Hypermarkets
13.2.2.Departmental Stores and Convenience Stores
13.2.3.Bakery Stores
13.2.4.Government
13.2.5.Hospitality
13.2.6.Offices
13.2.7.Buildings
13.3.  Geography Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.3.1.North America
13.3.2.Europe
13.3.3.The Asia Pacific
13.3.4.Latin America
13.3.5.MEA
13.4.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.4.1.Brazil
13.4.2.Mexico
13.4.3.Rest of LA
14. Competition Landscape
14.1.  Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) 
14.2.1.Ab Electrolux
14.2.2.Daikin Industries Ltd.
14.2.3.Dover Corporation
14.2.4.Frigoglass S.A.I.C.
14.2.5.Haier Electronics Group Co., Ltd.
14.2.6.Illinois Tool Works Inc.
14.2.7.Johnson Controls International Plc
14.2.8.Panasonic Corporation
14.2.9.United Technologies Corporation
14.2.10.Ali Group S.R.L.
15. Research Methodology 
16. Appendix and Abbreviations 

Key Market Players

  • Ab Electrolux
  • Daikin Industries Ltd.
  • Dover Corporation
  • Frigoglass S.A.I.C.
  • Haier Electronics Group Co., Ltd.
  • Illinois Tool Works Inc.
  • Johnson Controls International Plc
  • Panasonic Corporation
  • United Technologies Corporation
  • Ali Group S.R.L.

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