Global Walk-In Coolers and Freezers Market to Surge to US$ 14.05 Billion by 2029, Driven by Customized Solutions and Expanding Reach in Developing Regions

The global walk-in coolers and freezers market, valued at approximately US$ 9.52 billion in 2022, is poised for robust growth with a projected CAGR of 5.7% from 2022 to 2029, reaching US$ 14.05 billion by 2029. This growth is fueled by the increasing demand for customized solutions and the expanding adoption of walk-in coolers and freezers in developing regions, offering enhanced storage and shelf life for sensitive products.

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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Digitalization and smart technologies continue to influence numerous product developments and demand-side dynamics, and walk-in coolers and freezers are no exception. As consumers show marked preference for efficient yet custom-sized units, manufacturers are leveraging technological advancements to develop unique product features that fulfil specific customer requirements.

According to the study, key players in the walk-in coolers and freezers market also remained focused on improving energy efficiency of their products, considering the continuous changes in energy conservation standards for various commercial and industrial equipment including walk-in coolers and freezers. These players are continuously putting efforts on improving quality of their offerings, while investing in innovative developments that would yield substantial improvements for customers.

- Gains Remain High from Commercial Kitchens & Restaurants

Walk-in coolers and freezers continue to gain high traction from commercial kitchens and restaurants, which are widely used to preserve raw foods and grocery items. As international fast food chains and café outlets continue to explore opportunities in various attractive destinations, demand of walk-in coolers and freezers has been on an upward swing across the globe.

North America and Europe have been the early adopters of commercial kitchens and restaurants; however, they are reaching their saturation point. Walk-in cooler and freezer manufacturers are tapping into opportunities in developing countries in East Asia, where multi-cultural environment, changing eating habits, and rising disposable income have opened avenues of growth for commercial kitchens and restaurants. Moreover, walk-in coolers and freezers market in East Asia is likely to take over the Europe market in the future.

According to the study, newer trends and rapid expansion of retail food & beverage sector also represent a significant source of demand for walk-in coolers and freezers. Picture-perfect stores are gaining high preference among today's consumers, especially millennials obsessed with social media platforms. Such factor has forced the manufacturers to innovate and enhance the visual appearance of their products without compromising on the operational functions.

Walk-in coolers and freezers with self-contained refrigeration continue to account for higher share as compared to remote condensing and multiplex condensing. Considering the suitability of self-contained refrigeration in almost any application along with ease of service and maintenance, this category also continues to witness higher innovation and investments.

- Key Players:

SRC Refrigeration
Parker Hannifin Corp.
TMP Manufacturing Company
Panasonic Corporation
American Panel Corporation
Others

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- Key Segments Covered:

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
Supermarket
Hypermarket
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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This release was published on openPR.