Commercial Refrigeration Market Size Projected to Surge at 4.4% CAGR, Nearing $24.61 billion by 2031

NEW YORK, (UNITED STATES) - QY Research announces the release of 2025 latest report "Commercial Refrigeration Market". Based on current situation and impact historical analysis (2020-2024) and forecast calculations (2025-2031), this report provides a comprehensive analysis of the global Commercial Refrigeration market, including market size, share, demand, industry development status, and forecasts for the next few years.

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The global Commercial Refrigeration market was valued at US$ 18.28 billion in 2023 and is anticipated to reach US$ 24.61 billion by 2030, witnessing a CAGR of 4.4% during the forecast period 2024-2030.

Commercial Refrigeration Market Overview -

The purpose of this study report is to support industry experts in the global Commercial Refrigeration business by looking at market developments, market position, investment possibilities, and key market drivers. The analysis includes a profile of the leading market players, as well as information on their latest product launches, product extensions, marketing strategies, business outlooks, infrastructure, and projected rival goods and services, as well as pricing trends. The study looks at emerging entrepreneurs, their strategies, and the product advancements that are driving demand for their goods and services on both local and global markets. In addition, the paper offers critical tactics for maximising possibilities and minimising dangers in the next ten years and beyond. The Commercial Refrigeration market was studied using primary, secondary, and observational research methods.

Commercial refrigeration and freezing equipment is a variety of equipment (food preservation, freezing, refrigeration and beverage preservation, display and sales) used in commercial service places (hotels, nightclubs, bars, cafes, restaurants, disco, KTV, yachts, schools, laboratories, hospitals and other special application places).

China"s demand for commercial refrigeration and freezing equipment is expanding, with sales in the country expected to grow 33.33 percent in 2026 compared with 2019.

In terms of product types, commercial display cabinets are the most favored in the market, accounting for about 56.75% of the market share of commercial refrigeration and freezing equipment in 2019. Commercial refrigerators accounted for 27.43%, followed by ice makers at 4.71%.

From the perspective of application, supermarkets will be the largest part of the market for a long time, accounting for about 46%-48% of the consumption of commercial refrigeration and freezing equipment. Supermarkets, restaurants and entertainment venues accounted for 48.53%, 24.53% and 17.79% respectively in 2019.

Major global manufacturers of commercial refrigeration and freezing equipment include Carrier Commercial Refrigeration, Haier, Hoshizaki International, Panasonic, etc. The Top 5 players share nearly 30% of the market and the Top 10 share more than 47%.

Market Dynamics -

Growth Drivers -

Rising Demand for Fresh Food: Consumers increasingly prefer fresh, high-quality food, driving the need for reliable refrigeration systems in retail and foodservice industries.

Expansion of the Healthcare Sector: The healthcare industry requires precise temperature control for storing medications, vaccines, and biological samples, boosting the demand for specialized medical refrigeration equipment.

Stringent Food Safety Regulations: Governments and regulatory bodies are implementing stricter food safety standards, compelling businesses to invest in advanced refrigeration solutions that ensure compliance and prevent foodborne illnesses.

Technological Advancements: Innovations in refrigeration technology, such as energy-efficient systems, smart refrigeration, and remote monitoring capabilities, are enhancing product offerings and attracting customers seeking modern solutions.

Challenges -

High Initial Investment: Advanced commercial refrigeration systems often come with a significant upfront cost, which can be a barrier for small businesses or those operating on tight budgets.

Energy Consumption: Refrigeration systems are major energy consumers, and rising energy costs can impact operational expenses. Finding ways to improve energy efficiency without compromising performance is an ongoing challenge.

Environmental Impact: The use of certain refrigerants with high global warming potential (GWP) raises environmental concerns. The industry faces pressure to transition to more eco-friendly refrigerants and sustainable practices.

Maintenance and Repair Costs: Ensuring the proper functioning of commercial refrigeration systems requires regular maintenance and occasional repairs, which can be costly and time-consuming if not managed effectively.

Global Commercial Refrigeration Market Trends:-

Commercial Refrigeration The pre- and post-period regulatory situation plays an important role in shaping market dynamics. As governments introduce and refine regulations governing the production, distribution, and sale of Commercial Refrigeration products, businesses must navigate complex compliance requirements to ensure lawful operations. Regulatory clarity and consistency are key factors that positively impact markets, providing certainty for businesses and giving people confidence in product safety and quality standards. Additionally, regulatory developments such as the approval of Commercial Refrigeration chemical and material products and the establishment Commercial Refrigeration of cultivation programs are opening up new opportunities for market expansion while setting standards for best practices in the industry.

Highlights the following key factors: -

Business description - An in-depth description of the businesses and the divisions of the company.

Corporate strategy - Business strategy of the company as summarized by analysts.

SWOT Analysis - An in-depth analysis of the company's advantages, disadvantages, strengths, and threats.

Company history - progression of significant company-related events.

Major products and services - A list of the company's major products, services, and brands.

Key competitors - A list of the primary competitors of the company.

Important locations and subsidiaries - A list of the company's key locations and subsidiaries, along with contact details.

Regional Insights and Growth Opportunities :-

The Commercial Refrigeration Market provides a diverse geographical landscape, with several areas exhibiting unique market characteristics. While some locations see rapid growth due to factors like economic expansion and technical advancements, other regions may experience slower but more consistent market expansion. Market trends vary greatly throughout regions due to factors including cultural influences, legal frameworks, and population developments. Businesses looking to go global must understand these regional differences and adjust their strategy to take advantage of local opportunities.

The primary research and secondary research of the analysis is the competitive landscape that exists between the top players present in the industry. An inventory of the actions the businesses have done in the previous years is included in the report. Growth statistics for the regional markets have been included in the research, along with a list of the key countries driving regional growth, including North America, Europe, China, Japan, Southeast Asia, and India.

North America: Market size, growth drivers, and key players.

Europe: Regulatory environment and sustainability initiatives.

Asia-Pacific: Rapid industrialization and demand growth.

Latin America: Emerging markets and opportunities.

Middle East & Africa: Focus on petrochemicals and infrastructure development.

Emerging markets such as Southeast Asia, Eastern Europe, and Africa are identified as high-growth regions, driven by rapid industrialization and urbanization.

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Detailed of Commercial Refrigeration Market Segmentation:-

Segment by Type:

Transport Refrigeration (Van and TrucUnits)
Walk in Box Refrigerator Units (Refrigerated and Frozen)

Segment by Application

Transportation
Restaurant & Food-Service
Floral Markets
Manufacturing
Others

Top Market Leader Included: -

Thermo King
Carrier Transicold
DENSO
Wabash National
Lamberet
MHI
Chereau
Great Dane
Zanotti
Kingtec
FRIGOBLOCK
GAH Refrigeration
Morgan
Sainte Marie
Hubbard
Mortech Manufacturing Inc.
U.S. Cooler
Bally Refrigerated Boxes
Curtis
Polar King International
MR. Winter
Master-Bilt
KPS Global
Barr Refrigeration, Arctic

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This release was published on openPR.