Commercial Refrigeration Equipment Market Growth & Trends:
The global commercial refrigeration equipment market size is estimated to reach USD 58.31 billion by 2030, registering an estimated CAGR of nearly 5.1% from 2022 to 2030, according to a new report by Grand View Research, Inc. The major aspects driving the market growth are the increasing consumption of frozen foods and the significant expansion of the tourism and hospitality industries.
The rising environmental concerns about harmful emissions produced by refrigerators such as Hydro-chlorofluorocarbons (HCFC) and Chlorofluorocarbons (CFC) have led to the establishment of norms promoting the adoption of energy-efficient equipment for commercial refrigeration. The Clean Air Act launched by the U.S. Environment Protection Agency mandates the regularized application of low Global Warming Potential (GWP) refrigerants in the commercial segment.
Such regulatory measures are urging commercial refrigerator manufacturers to develop energy-efficient refrigerants to reduce the impact of Greenhouse emissions. For instance, in September 2020, Daikin Industries, Ltd. launched the upgraded version of its Conveni-Pack cooling system suitable for petrol station and food retail applications to develop an eco-friendly natural refrigerant CO2. This is an all-in-one and highly efficient solution that combines food refrigeration, air conditioning, heat recovery, and a heat pump in one unit to meet the requirements for commercial refrigeration set by the European food retail sector.
The global outbreak of the COVID-19 pandemic had severely affected the commercial foodservice industry and retail industries, thereby impacting the expansion of the commercial refrigeration equipment market. However, the industry witnessed strong demand from the pharmaceutical and biotechnology industries with the increasing need to produce and store vaccines. Several pharmaceutical firms and research institutes demanded vaccine storage refrigerators as a part of their R&D activities to deliver life-saving vaccines against the coronavirus.
Commercial Refrigeration Equipment Market Report Highlights:
- The refrigerators and freezers segment held a revenue share of around 25.0% in 2021 owing to the increased demand for vaccine storage units during the pandemic for conducting the immunization process.
- The self-contained refrigeration equipment segment is anticipated to witness a CAGR of around 5.0% from 2022 to 2030.
- The U.S. has emerged as a major contributor across North America by accounting for a market share of more than 80.0% in 2021.
- The 51 cu. Ft. - 100 cu. Ft. capacity segment captured a substantial revenue share of around 49.0% in 2021.
Table of Contents
Chapter 1 Methodology and Scope
- 1.1 Market Segmentation & Scope
- 1.2 Market Definitions
- 1.3 Information Procurement
- 1.3.1 Purchased database
- 1.3.2 GVR's Internal database
- 1.3.3 Secondary sources & third party perspective
- 1.3.4 Primary research
- 1.4 Information Analysis
- 1.4.1 Data analysis models
- 1.5 Market Formulation and Data Visualization
- 1.6 Data Validation and Publishing
Chapter 2 Executive Summary
- 2.1 Market Outlook
- 2.2 Segmental Outlook
- 2.3 Competitive Insights
Chapter 3 Market Variables, Trends & Scope
- 3.1 Market Introduction
- 3.2 Industry Value Channel Analysis
- 3.3 Market Dynamics
- 3.3.1 Market driver analysis
- 3.3.2 Market restraint/challenges analysis
- 3.3.3 Industry opportunities
- 3.4 Penetration & Growth Prospect Mapping
- 3.5 Business Environment Analysis Tools
- 3.5.1 Porter's five forces analysis
- 3.5.2 PEST analysis
- 3.6 Regulatory Landscape in North America
- 3.6.1 Environmental protection agency (EPA) refrigerant regulations
- 3.6.2 Regulatory landscape in Canada
- 3.7 Import/Export Data for Commercial Refrigeration Equipment for U.S. and Canada
- 3.7.1 U.S. import data for commercial refrigeration equipment
- 3.7.2 U.S. export data for commercial refrigeration equipment
- 3.7.3 Canada import data for commercial refrigeration equipment
- 3.7.4 Canada export data for commercial refrigeration equipment
Chapter 4 Product Estimates and Trend Analysis
- 4.1 Market Size Estimates & Forecasts and Trend Analysis, 2018 - 2030 (USD Billion)
- 4.2 Product Movement Analysis & Market Share, 2021 & 2030
- 4.3 Transportation Refrigeration Equipment
- 4.3.1 Market size estimates and forecasts, 2018 - 2030 (USD Billion)
- 4.4 Refrigerators & Freezers
- 4.4.1 Market size estimates and forecasts, 2018 - 2030 (USD Billion)
- 4.5 Beverage Refrigeration
- 4.5.1 Market size estimates and forecasts, 2018 - 2030 (USD Billion)
- 4.6 Display Showcases
- 4.6.1 Market size estimates and forecasts, 2018 - 2030 (USD Billion)
- 4.7 Ice Merchandisers & Ice Vending Equipment
- 4.7.1 Market size estimates and forecasts, 2018 - 2030 (USD Billion)
- 4.8 Other Equipment
- 4.8.1 Market size estimates and forecasts, 2018 - 2030 (USD Billion)
Chapter 5 System Type Estimates and Trend Analysis
- 5.1 Market Size Estimates & Forecasts and Trend Analysis, 2018 - 2030 (USD Billion)
- 5.2 System Type Movement Analysis & Market Share, 2021 & 2030
- 5.3 Self-contained
- 5.3.1 Market size estimates and forecasts, 2018 - 2030 (USD Billion)
- 5.4 Remotely Operated
- 5.4.1 Market size estimates and forecasts, 2018 - 2030 (USD Billion)
Chapter 6 Capacity Estimates and Trend Analysis
- 6.1 Market Size Estimates & Forecasts and Trend Analysis, 2018 - 2030 (USD Billion)
- 6.2 Capacity Movement Analysis & Market Share, 2021 & 2030
- 6.3 Less than 50 cu. Ft.
- 6.3.1 Market size estimates and forecasts, 2018 - 2030 (USD Billion)
- 6.4 51 cu. Ft. to 100 cu. Ft.
- 6.4.1 Market size estimates and forecasts, 2018 - 2030 (USD Billion)
- 6.5 More than 100 cu. Ft.
- 6.5.1 Market size estimates and forecasts, 2018 - 2030 (USD Billion)
Chapter 7 Application Estimates and Trend Analysis
- 7.1 Market Size Estimates & Forecasts and Trend Analysis, 2018 - 2030 (USD Billion)
- 7.2 Application Movement Analysis & Market Share, 2021 & 2030
- 7.3 Food Service
- 7.3.1 Market size estimates and forecasts, 2018 - 2030 (USD Billion)
- 7.4 Food & Beverage Retail
- 7.4.1 Market size estimates and forecasts, 2018 - 2030 (USD Billion)
- 7.4.2 Hypermarkets
- 7.4.2.1 Market size estimates and forecasts, 2018 - 2030 (USD Billion)
- 7.4.3 Supermarkets
- 7.4.3.1 Market size estimates and forecasts, 2018 - 2030 (USD Billion)
- 7.4.4 Convenience store
- 7.4.4.1 Market size estimates and forecasts, 2018 - 2030 (USD Billion)
- 7.4.5 Specialty food store
- 7.4.5.1 Market size estimates and forecasts, 2018 - 2030 (USD Billion)
- 7.4.6 Others
- 7.4.6.1 Market size estimates and forecasts, 2018 - 2030 (USD Billion)
- 7.5 Food & Beverage Distribution
- 7.5.1 Market size estimates and forecasts, 2018 - 2030 (USD Billion)
- 7.6 Food & Beverage Production
- 7.6.1 Market size estimates and forecasts, 2018 - 2030 (USD Billion)
- 7.7 Others
- 7.7.1 Market size estimates and forecasts, 2018 - 2030 (USD Billion)
Chapter 8 Regional Estimates & Trend Analysis
- 8.1 Market by region, 2021 & 2030
- 8.2 Regional Movement Analysis & Market Share, 2021 & 2030
- 8.3 North America
- 8.3.1 Market by product, 2018 - 2030 (USD Billion)
- 8.3.2 Market by system type, 2018 - 2030 (USD Billion)
- 8.3.3 Market by capacity, 2018 - 2030 (USD Billion)
- 8.3.4 Market by application, 2018 - 2030 (USD Billion)
- 8.3.5 Market by food & beverage retail, 2018 - 2030 (USD Billion)
- 8.3.6 U.S.
- 8.3.6.1 Market by product, 2018 - 2030 (USD Billion)
- 8.3.6.2 Market by system type, 2018 - 2030 (USD Billion)
- 8.3.6.3 Market by capacity, 2018 - 2030 (USD Billion)
- 8.3.6.4 Market by application, 2018 - 2030 (USD Billion)
- 8.3.6.5 Market by food & beverage retail, 2018 - 2030 (USD Billion)
- 8.3.7 Canada
- 8.3.7.1 Market by product, 2018 - 2030 (USD Billion)
- 8.3.7.2 Market by system type, 2018 - 2030 (USD Billion)
- 8.3.7.3 Market by capacity, 2018 - 2030 (USD Billion)
- 8.3.7.4 Market by application, 2018 - 2030 (USD Billion)
- 8.3.7.5 Market by food & beverage retail, 2018 - 2030 (USD Billion)
- 8.4 Europe
- 8.4.1 Market by product, 2018 - 2030 (USD Billion)
- 8.4.2 Market by system type, 2018 - 2030 (USD Billion)
- 8.4.3 Market by capacity, 2018 - 2030 (USD Billion)
- 8.4.4 Market by application, 2018 - 2030 (USD Billion)
- 8.4.5 Market by food & beverage retail, 2018 - 2030 (USD Billion)
- 8.4.6 Germany
- 8.4.6.1 Market by product, 2018 - 2030 (USD Billion)
- 8.4.6.2 Market by system type, 2018 - 2030 (USD Billion)
- 8.4.6.3 Market by capacity, 2018 - 2030 (USD Billion)
- 8.4.6.4 Market by application, 2018 - 2030 (USD Billion)
- 8.4.6.5 Market by food & beverage retail, 2018 - 2030 (USD Billion)
- 8.4.7 U.K.
- 8.4.7.1 Market by product, 2018 - 2030 (USD Billion)
- 8.4.7.2 Market by system type, 2018 - 2030 (USD Billion)
- 8.4.7.3 Market by capacity, 2018 - 2030 (USD Billion)
- 8.4.7.4 Market by application, 2018 - 2030 (USD Billion)
- 8.4.7.5 Market by food & beverage retail, 2018 - 2030 (USD Billion)
- 8.5 Asia Pacific
- 8.5.1 Market by product, 2018 - 2030 (USD Billion)
- 8.5.2 Market by system type, 2018 - 2030 (USD Billion)
- 8.5.3 Market by capacity, 2018 - 2030 (USD Billion)
- 8.5.4 Market by application, 2018 - 2030 (USD Billion)
- 8.5.5 Market by food & beverage retail, 2018 - 2030 (USD Billion)
- 8.5.6 China
- 8.5.6.1 Market by product, 2018 - 2030 (USD Billion)
- 8.5.6.2 Market by system type, 2018 - 2030 (USD Billion)
- 8.5.6.3 Market by capacity, 2018 - 2030 (USD Billion)
- 8.5.6.4 Market by application, 2018 - 2030 (USD Billion)
- 8.5.6.5 Market by food & beverage retail, 2018 - 2030 (USD Billion)
- 8.5.7 India
- 8.5.7.1 Market by product, 2018 - 2030 (USD Billion)
- 8.5.7.2 Market by system type, 2018 - 2030 (USD Billion)
- 8.5.7.3 Market by capacity, 2018 - 2030 (USD Billion)
- 8.5.7.4 Market by application, 2018 - 2030 (USD Billion)
- 8.5.7.5 Market by food & beverage retail, 2018 - 2030 (USD Billion)
- 8.5.8 Japan
- 8.5.8.1 Market by product, 2018 - 2030 (USD Billion)
- 8.5.8.2 Market by system type, 2018 - 2030 (USD Billion)
- 8.5.8.3 Market by capacity, 2018 - 2030 (USD Billion)
- 8.5.8.4 Market by application, 2018 - 2030 (USD Billion)
- 8.5.8.5 Market by food & beverage retail, 2018 - 2030 (USD Billion)
- 8.6 Latin America
- 8.6.1 Market by product, 2018 - 2030 (USD Billion)
- 8.6.2 Market by system type, 2018 - 2030 (USD Billion)
- 8.6.3 Market by capacity, 2018 - 2030 (USD Billion)
- 8.6.4 Market by application, 2018 - 2030 (USD Billion)
- 8.6.5 Market by food & beverage retail, 2018 - 2030 (USD Billion)
- 8.6.6 Brazil
- 8.6.6.1 Market by product, 2018 - 2030 (USD Billion)
- 8.6.6.2 Market by system type, 2018 - 2030 (USD Billion)
- 8.6.6.3 Market by capacity, 2018 - 2030 (USD Billion)
- 8.6.6.4 Market by application, 2018 - 2030 (USD Billion)
- 8.6.6.5 Market by food & beverage retail, 2018 - 2030 (USD Billion)
- 8.6.7 Mexico
- 8.6.7.1 Market by product, 2018 - 2030 (USD Billion)
- 8.6.7.2 Market by system type, 2018 - 2030 (USD Billion)
- 8.6.7.3 Market by capacity, 2018 - 2030 (USD Billion)
- 8.6.7.4 Market by application, 2018 - 2030 (USD Billion)
- 8.6.7.5 Market by food & beverage retail, 2018 - 2030 (USD Billion)
- 8.7 Middle East & Africa (MEA)
- 8.7.1 Market by product, 2018 - 2030 (USD Billion)
- 8.7.2 Market by system type, 2018 - 2030 (USD Billion)
- 8.7.3 Market by capacity, 2018 - 2030 (USD Billion)
- 8.7.4 Market by application, 2018 - 2030 (USD Billion)
- 8.7.5 Market by food & beverage retail, 2018 - 2030 (USD Billion)
Chapter 9 Competitive Analysis
- 9.1 Key Global Players, Recent Developments & Their Impact on the Industry
- 9.2 Key Company/Competition Categorization (Key Innovators, Market Leaders, Emerging Players)
- 9.3 Key Company Ranking Analysis, 2020
Chapter 10 Competitive Landscape
- 10.1 AB Electrolux
- 10.1.1 Company Overview
- 10.1.2 Financial Performance
- 10.1.3 Service Benchmarking
- 10.1.4 Recent Developments
- 10.2 Ali Group S.r.l. a Socio Unico
- 10.2.1 Company Overview
- 10.2.2 Financial Performance
- 10.2.3 Service Benchmarking
- 10.2.4 Recent Developments
- 10.3 AHT Cooling Systems GmbH
- 10.3.1 Company Overview
- 10.3.2 Financial Performance
- 10.3.3 Service Benchmarking
- 10.3.4 Recent Developments
- 10.4 Carrier
- 10.4.1 Company Overview
- 10.4.2 Financial Performance
- 10.4.3 Service Benchmarking
- 10.4.4 Recent Developments
- 10.5 Daikin Industries, Ltd.
- 10.5.1 Company Overview
- 10.5.2 Financial Performance
- 10.5.3 Service Benchmarking
- 10.5.4 Recent Developments
- 10.6 Dover Corporation
- 10.6.1 Company Overview
- 10.6.2 Financial Performance
- 10.6.3 Service Benchmarking
- 10.6.4 Recent Developments
- 10.7 Hussmann Corporation
- 10.7.1 Company Overview
- 10.7.2 Financial Performance
- 10.7.3 Service Benchmarking
- 10.7.4 Recent Developments
- 10.8 Excellence Industries
- 10.8.1 Company Overview
- 10.8.2 Financial Performance
- 10.8.3 Service Benchmarking
- 10.8.4 Recent Developments
- 10.9 Hillphoenix, A Dover Company
- 10.9.1 Company Overview
- 10.9.2 Financial Performance
- 10.9.3 Service Benchmarking
- 10.9.4 Recent Developments
- 10.10 Illinois Tool Works Inc.
- 10.10.1 Company Overview
- 10.10.2 Financial Performance
- 10.10.3 Service Benchmarking
- 10.10.4 Recent Developments
- 10.11 Imbera
- 10.11.1 Company Overview
- 10.11.2 Financial Performance
- 10.11.3 Service Benchmarking
- 10.11.4 Recent Developments
- 10.12 Lennox International Inc.
- 10.12.1 Company Overview
- 10.12.2 Financial Performance
- 10.12.3 Service Benchmarking
- 10.12.4 Recent Developments
- 10.13 Metalfrio Solutions S.A.
- 10.13.1 Company Overview
- 10.13.2 Financial Performance
- 10.13.3 Service Benchmarking
- 10.13.4 Recent Developments
- 10.14 Minus Forty Technologies Corp.
- 10.14.1 Company Overview
- 10.14.2 Financial Performance
- 10.14.3 Service Benchmarking
- 10.14.4 Recent Developments
- 10.15 Ojeda Usa Inc.
- 10.15.1 Company Overview
- 10.15.2 Financial Performance
- 10.15.3 Service Benchmarking
- 10.15.4 Recent Developments
- 10.16 Panasonic Corporation
- 10.16.1 Company Overview
- 10.16.2 Financial Performance
- 10.16.3 Service Benchmarking
- 10.16.4 Recent Developments
- 10.17 Qingdao Hiron Commercial Cold Channel Co., Ltd.
- 10.17.1 Company Overview
- 10.17.2 Financial Performance
- 10.17.3 Service Benchmarking
- 10.17.4 Recent Developments
- 10.18 True Manufacturing Co., Inc.
- 10.18.1 Company Overview
- 10.18.2 Financial Performance
- 10.18.3 Service Benchmarking
- 10.18.4 Recent Developments
- 10.19 Victory Refrigeration
- 10.19.1 Company Overview
- 10.19.2 Financial Performance
- 10.19.3 Service Benchmarking
- 10.19.4 Recent Developments
- 10.20 Whirlpool Corporation
- 10.20.1 Company Overview
- 10.20.2 Financial Performance
- 10.20.3 Service Benchmarking
- 10.20.4 Recent Developments
- 10.21 Zero Zone, Inc.
- 10.21.1 Company Overview
- 10.21.2 Financial Performance
- 10.21.3 Service Benchmarking
- 10.21.4 Recent Developments