Commercial Refrigerators Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2017-2021 and Forecast 2022-2028

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Commercial Refrigerators Market: 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 Geography

 

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Report

Description

The commercial refrigerators market is estimated to be valued at USD 31,766.3 million in 2021 and is poised to grow at a significant CAGR of 4.5% over 2022-2028. Commercial refrigerator is the equipment which eliminating 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 anticipated to grow at significant CAGR over the forecast years owing to a significant increase in increased 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 commercial refrigerators market. For instance, in May 2021, Mormon Food Service technologies Inc. introduces new IDC Pro Installation Genie, 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 commercial refrigerators Market.

Recent Market Developments:

In July 2021, BITZER has 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 advantage for systems with medium or large capacity 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 consumption of energy and indirect emissions.

Commercial Refrigerators Market

MARKET SUMMARY
-
4.5% CAGR
  • Study Period– 2022 – 2028
  • Base Year– 2021
  • CAGR– 4.5%
  • Largest Market– Asia-Pacific
  • Fastest Growing Market–  North America

Commercial Refrigerators Market

  • The global commercial refrigerators market report gives comprehensive outlook across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
  • The commercial refrigerators market report gives historical, current, and future market sizes (US$ Mn) on refrigerator type, end user and geography.
Key Players
  • Ab Electrolux
  • Daikin Industries Ltd.
  • Dover Corporation
  • Frigoglass S.A.I.C.
  • Haier Electronics Group Co., Ltd.
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.


North-America Got Significant Share

Commercial Refrigerators Market

The Commercial Refrigerators market in North America is likely to hold the highest revenue share in 2021 and same trend is expected over the forecast period due to mature retail business in the United States is primarily responsible for the enormous rise. Moreover, Numerous significant manufacturers of commercial refrigeration equipment have a strong presence in the region. Furthermore, the early use of smart equipment in commercial kitchens is supporting regional business development over the forecast years.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Features of the Report

  • The report provides granular level information about the market size, regional market share, historic market (2017-2021) and forecast (2022-2028)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their 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 scenario
Commercial Refrigerators Market Segmentation


Location

GEOGRAPHY

Frequently Asked Questions

The commercial refrigerators market is projected to expand at a CAGR of 4.5% during the forecast period.

Ab Electrolux, Daikin Industries Ltd., Dover Corporation, Frigoglass S.A.I.C., Haier Electronics Group Co., Ltd., Illinois Tool Works Inc.

North America is the fastest-growing region for commercial refrigerators market


Report

Company Profile

  • 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.

Description

The commercial refrigerators market is estimated to be valued at USD 31,766.3 million in 2021 and is poised to grow at a significant CAGR of 4.5% over 2022-2028. Commercial refrigerator is the equipment which eliminating 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 anticipated to grow at significant CAGR over the forecast years owing to a significant increase in increased 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 commercial refrigerators market. For instance, in May 2021, Mormon Food Service technologies Inc. introduces new IDC Pro Installation Genie, 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 commercial refrigerators Market.

Recent Market Developments:

In July 2021, BITZER has 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 advantage for systems with medium or large capacity 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 consumption of energy and indirect emissions.

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