Press release
Commercial Refrigeration Equipment Market to Reach USD 105.4 Billion by 2030
For detailed market analysis and comprehensive insights, access the complete report at: https://marksparksolutions.com/reports/commercial-refrigeration-market-2024-2030
◈ Key Market Highlights
▸ The market is projected to expand from USD 58,580 million in 2024 to USD 105,410 million by 2030, registering a compound annual growth rate (CAGR) of 8.6% during 2025-2030.
▸ North America accounted for the largest market share at 46.34% in 2024.
▸ In 2023, North America led the global landscape with over 49.10% revenue share.
▸ By Product Type, Refrigerators & Freezers captured a leading 27.3% share in 2024.
▸ North America's market size was USD 27,100 Million in 2024 and is expected to reach USD 50,800 Million by 2030, registering a 9.2% CAGR during the forecast period.
◈ Growth Drivers and Trends
The report underscores pivotal drivers shaping growth across the Commercial Refrigeration Equipment market:
▸ Rising consumption of processed and frozen foods, supported by urban lifestyles and convenience-driven purchasing.
▸ Expansion of supermarkets, hypermarkets, convenience stores, and quick-service restaurants, particularly in emerging markets.
▸ Rapid adoption of energy-efficient and smart refrigeration, including IoT-based monitoring, predictive maintenance, and advanced temperature control for compliance and inventory optimization.
▸ Heightened demand from pharmaceuticals and healthcare for medical-grade cold storage, including ultra-low temperature solutions.
At the same time, the industry is adapting to regulatory momentum away from HFCs toward natural refrigerants such as CO2, hydrocarbons, and ammonia, prompting redesigns, specialized components, and workforce upskilling to ensure safety, performance, and sustainability.
For detailed market analysis and comprehensive insights, access the complete report at: https://marksparksolutions.com/reports/commercial-refrigeration-market-2024-2030
◈ Market Segmentation
1. By Product Type:
▸ Refrigerators & Freezers (largest share at 27.3% in 2024)
▸ Transportation Refrigeration Equipment
▸ Refrigerated Display Cases
▸ Refrigerated Vending Machines
▸ Beverage Refrigeration Equipment
▸ Ice Machines
▸ Other Equipment
2. By Technology:
▸ Energy-efficient systems and smart, connected refrigeration solutions are gaining traction as end users balance Total Cost of Ownership, regulatory compliance, and sustainability objectives.
3. By Sales Channel:
▸ Mix of direct and indirect channels serving retail, foodservice, pharmaceutical, and logistics end markets, with upgrades and retrofits accelerating as companies replace legacy, high-GWP systems.
◈ Regional Insights
▸ North America:
The region leads the global market with 46.34% share in 2024 and more than 49.10% revenue share in 2023, driven by established retail networks, stringent food safety regulations, and rapid uptake of smart, energy-efficient equipment.
Market value grows from USD 27,100 Million in 2024 to USD 50,800 Million by 2030 at 9.2% CAGR.
Strong momentum in cold storage infrastructure, last-mile logistics, and a pivot to natural refrigerants to meet sustainability targets.
▸ Europe:
Accelerated transition away from HFCs supported by regulatory frameworks, with demand concentrated in food retail modernization and high-efficiency systems.
▸ Asia Pacific:
Structural growth stemming from urbanization, rising disposable incomes, retail expansion, and heightened demand for frozen and convenience foods, supported by cold-chain buildout.
▸ South America and Middle East & Africa:
Increasing investment in cold chain and foodservice, with opportunities in energy-efficient retrofits and climate-appropriate system design.
For detailed market analysis and comprehensive insights, access the complete report at: https://marksparksolutions.com/reports/commercial-refrigeration-market-2024-2030
◈ Competitive Landscape
The market features a blend of global leaders and regional specialists focused on efficiency, refrigerant transition, and connectivity across portfolios. Notable companies include:
Nor-Lake, Inc., The Middleby Corporation, Carrier Global Corporation, Danfoss, GEA Group Aktiengesellschaft, Daikin Industries, Ltd., Johnson Controls, AB Electrolux, Panasonic Corporation, Whirlpool Corporation, Welbilt, Ali Group S.r.l.
◈ Outlook
With sustained demand from food & beverage, pharmaceuticals, hospitality, and logistics, the Commercial Refrigeration Equipment market is positioned for healthy growth through 2030. Companies that deliver IoT-enabled performance, energy savings, and compliant, natural-refrigerant-ready systems are expected to outperform. Meanwhile, successful navigation of regulatory requirements, installation complexity, and lifecycle cost management will be key to capturing share in both mature and emerging markets.
For further customizations write your queries at: sales@marksparksolutions.com
Mark & Spark Solutions
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Mark & Spark Solutions (Wholly Owned by ITvia Data Solutions) is a leading market research consulting firm dedicated to empowering businesses with insightful strategies and solutions for success. Rooted in a commitment to excellence and fueled by innovation, we have become a trusted partner for companies across diverse industries. Our expertise in market dynamics, consumer behavior, and industry trends enables us to provide actionable intelligence that drives growth, refines strategies, and enhances brand performance.
Our team of seasoned researchers, analysts, and consultants collaborates closely with clients to deliver tailored solutions that meet their unique needs. Through our syndicated market research reports, custom market analysis, and strategic consulting services, we provide the insights and expertise that help businesses thrive in competitive markets.
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