- Beverage Refrigerators
- Refrigerated Display Cases
- Refrigerated Vending Machines
- Refrigerators & Freezers
- Others
Commercial Refrigerators Market size was valued at USD 31,766.3 million in 2022 and is poised to grow at a significant CAGR of 4.5% over 2023-2029. 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 commercial refrigerators 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 commercial refrigerators 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.
Commercial Refrigerators Market Summary
Study Period
2024-2030
Base Year
2023
CAGR
4.5%
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.
North-America Got Significant Share
Commercial Refrigerators Market Regional Analysis
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
Europe
Asia Pacific
Middle East
North America
Key Features of the Reports
- The 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 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
By Refrigerator Type
By End User
- Supermarkets and Hypermarkets
- Departmental Stores and Convenience Stores
- Bakery Stores
- Government
- Hospitality
- Offices
- Buildings
By Geography
- North America
- Europe
- The Asia Pacific
- Latin America
- MEA
Frequently Asked Questions
The commercial refrigerators market size was valued at USD 31,766.3 million in 2022
The commercial refrigerators 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 commercial refrigerators 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, 2018 - 2022 and Forecast 2023 - 2029 |
| 4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (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, 2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million) |
| 5.1. Beverage Refrigerators |
| 5.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (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, 2018 - 2022 and Forecast, 2023 - 2029, (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, 2018 - 2022 and Forecast, 2023 - 2029, (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, 2018 - 2022 and Forecast, 2023 - 2029, (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, 2018 - 2022 and Forecast, 2023 - 2029, (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, 2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million) |
| 6.1. Supermarkets and Hypermarkets |
| 6.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (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, 2018 - 2022 and Forecast, 2023 - 2029, (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, 2018 - 2022 and Forecast, 2023 - 2029, (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, 2018 - 2022 and Forecast, 2023 - 2029, (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, 2018 - 2022 and Forecast, 2023 - 2029, (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, 2018 - 2022 and Forecast, 2023 - 2029, (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, 2018 - 2022 and Forecast, 2023 - 2029, (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, 2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million) |
| 7.1. North America |
| 7.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (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, 2018 - 2022 and Forecast, 2023 - 2029, (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, 2018 - 2022 and Forecast, 2023 - 2029, (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, 2018 - 2022 and Forecast, 2023 - 2029, (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, 2018 - 2022 and Forecast, 2023 - 2029, (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, 2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million) |
| 8.1. North America |
| 8.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (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, 2018 - 2022 and Forecast, 2023 - 2029, (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, 2018 - 2022 and Forecast, 2023 - 2029, (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, 2018 - 2022 and Forecast, 2023 - 2029, (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, 2018 - 2022 and Forecast, 2023 - 2029, (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 ,2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million) |
| 9.1. Refrigerator Type Analysis 2018 - 2022 and Forecast 2023 - 2029 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 2018 - 2022 and Forecast 2023 - 2029 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 2018 - 2022 and Forecast 2023 - 2029 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 2018 - 2022 and Forecast 2023 - 2029 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 ,2018 - 2022 and Forecast 2023 - 2029 (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 2018 - 2022 and Forecast 2023 - 2029 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 2018 - 2022 and Forecast 2023 - 2029 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 2018 - 2022 and Forecast 2023 - 2029 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,2018 - 2022 and Forecast 2023 - 2029 (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 2018 - 2022 and Forecast 2023 - 2029 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 2018 - 2022 and Forecast 2023 - 2029 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 2018 - 2022 and Forecast 2023 - 2029 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 ,2018 - 2022 and Forecast 2023 - 2029 (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 2018 - 2022 and Forecast 2023 - 2029 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 2018 - 2022 and Forecast 2023 - 2029 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 2018 - 2022 and Forecast 2023 - 2029 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 ,2018 - 2022 and Forecast 2023 - 2029 (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 2018 - 2022 and Forecast 2023 - 2029 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 2018 - 2022 and Forecast 2023 - 2029 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 2018 - 2022 and Forecast 2023 - 2029 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 |
- 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.