Walk-in Coolers and Freezers Market Share, Development by Companies Outlook, Growth Prospects and Key Opportunities by 2029

Future Market Insights (FMI), in its new report, estimates worldwide sales of walk-in coolers and freezers at US$ 8.6 billion in 2019. Widespread consumer acceptance of frozen and processed food, along with a steep rise in the demand for efficient refrigeration facilities to store and maintain the shelf life of these products, allude a brighter future for the walk-in coolers and freezers market.

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1. The global walk-in Coolers and Freezers market was valued ~US$ 8 Bn in 2019.
2. The walk-in Coolers and Freezers market is anticipated to witness a robust growth with a CAGR of ~5% over the forecast period of 2019–2029.
3. South Asia and East Asia markets are expected to remain prominent regional markets in the global walk-in Coolers and Freezers market.
o Rapid urbanization in India and China resulting in an increase in commercial restaurants and retail food outlets chain in the region, which is expected to drive the sales of walk-in Coolers and Freezers market.
4. The South Asia market is expected to lead the walk-in Coolers and Freezers market in terms of CAGR growth, registering a growth of ~7% CAGR over the forecast period.
o The growth is primarily driven by growing retail food outlets and franchises, cold storage warehouses, and restaurant chains in India and other ASEAN countries.
5. The commercial kitchen & restaurants segment is anticipated to create prominent demand for walk-in coolers & freezers, followed by retail food & beverage outlets.

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Market Structure Analysis
• The global walk-in Coolers and Freezers market is significantly fragmented, wherein, tier-1 companies hold ~20-23% of the total market share.
• Tier-1 companies include Danfoss A/S, Standex International Corporation, Welbilt, Inc., Hussmann Corporation, and Amerikooler LLC, among others.
• A large number of local players in the walk-in Coolers and Freezers market have fragmented the competition landscape and these players account for ~60-65% of the overall revenue share.
• Prominent players in the walk-in Coolers and Freezers market are focusing on delivering products as per clients’ customizations as well as developing environmentally friendly products to keep in norm with government regulations.

Developing Markets Remain a Goldmine of Opportunity for Stakeholders
Walk-in cooler and freezer sales are proportional to performance of downstream markets such as retail food & beverage and commercial kitchen space. As these sectors continue to perform well, especially in developing markets, older refrigeration units will witness fast replacement by walk-in coolers and freezers. Opportunities abound for walk-in coolers and freezers manufacturers in developing markets, with East Asia and South Asia collectively accounting for ~30% sales.
High replacement sales, primarily driven by changing emission norms abreast aging equipment space, have been one of the leading sales influencers of walk-in coolers and freezers in the recent past.

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By Segmentation:
Product Type
• Walk-in Cooler
• Walk-in Freezer
• Combo (Freezer + Cooler)
Place of Use
• Indoor
• Outdoor
Technology
• Self-Contained
• Remote Condensing
• Multiplex Condensing
Door Type
• Hinged
• Power Sliding
• Manual Sliding
Application
• Cold Storage Warehouse
• Breweries
• Commercial Kitchen & Restaurants
• Floral Storage
• Pharmaceuticals
• Chemicals
• Research laboratories
• Hospitals & Mortuaries
• Mobile Refrigeration System
• Retail Food & Beverage
o Supermarket
o Hypermarket
o Convenience Stores
• Other Stores
Sales Channel
• OEM
• Aftermarket
Mounting Type
• Floor
• Non-floor
Region
• North America
• Europe
• Latin America
• South Asia
• Oceania
• East Asia
• Middle East & Africa (MEA)

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Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends.

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