Product Code: 414
Global Commercial Refrigeration Equipment Market will witness over 3.5% CAGR between 2023 and 2032. Growing demand from the food and beverage industry, driven by an expanding global population and changing consumer preferences, fuels market growth. Stringent regulations concerning food safety and preservation drive the need for advanced refrigeration solutions. Additionally, the rising number of collaborations between leading companies in the industry supports market growth.
For instance, in October 2023, Carrier Commercial Refrigeration, a global provider of HVAC&R solutions and services for the food retail sector under the Carrier Global Corporation, introduced its innovative "refrigeration-as-a-service" (RaaS) solution. Carrier Commercial Refrigeration is excited to partner with Relayr to provide substantial benefits to consumers and facilitate the adoption of highly efficient technology based on natural refrigerants. This "Refrigeration-as-a-Service" offering empowers businesses to optimize their efficiency by paying for refrigeration on an hourly basis, all supported by an innovative performance guarantee.
The overall Commercial Refrigeration Equipment Market is classified based on product, application, and region.
The transportation refrigeration equipment segment will undergo significant development from 2023 to 2032. This surge is primarily attributed to the growing need for transporting perishable goods efficiently and safely. As global trade expands and consumer preferences shift towards fresh and frozen products, transportation refrigeration equipment plays a pivotal role in ensuring the integrity of these goods during transit, driving the growth of the commercial refrigeration equipment market growth.
The food and beverage distribution segment will register a noteworthy CAGR from 2023 to 2032. This demand surge is propelled by the need to store and transport temperature-sensitive goods, ensuring product quality and safety. As the global population grows, so does the demand for fresh, frozen, and chilled products. Commercial refrigeration equipment market development plays a crucial role in meeting these demands, making it a vital component in food and beverage distribution.
North America commercial refrigeration equipment industry will showcase an appreciable CAGR from 2023 to 2032. With a thriving food and beverage industry and a growing retail sector, the need for efficient cooling solutions is paramount. Furthermore, stringent regulations concerning food safety and energy efficiency are driving the adoption of advanced refrigeration equipment.
For instance, On October 6, the U.S. Environmental Protection Agency (EPA) disclosed its recent measures to phase out environmentally harmful HFCs by the American Innovation and Manufacturing (AIM) Act. They have issued a final "Technology Transitions" regulation aimed at expediting the adoption of more eco-friendly technologies in new refrigeration, heating, cooling systems, and other products. The proposed rule suggests mandating the use of 100% reclaimed refrigerants in most new appliances and systems containing HFCs from 2028 onward, spanning from air conditioners and heat pumps to commercial refrigeration equipment in supermarkets and beyond. This region's ever-evolving market continues to expand to meet the diverse needs of various industries.
Table of Contents
Chapter 1 Methodology and Scope
- 1.1 Methodology
- 1.1.1 Initial data exploration
- 1.1.2 Statistical model and forecast
- 1.1.3 Industry insights and validation
- 1.1.4 Definition and forecast parameters
- 1.1.4.1 Definitions
- 1.1.4.2 Assumptions, methodology & forecast parameters
- 1.2 Data Sources
- 1.2.1 Primary
- 1.2.2 Secondary
Chapter 2 Executive Summary
- 2.1 Commercial refrigeration equipment industry 360 degree synopses, 2018 - 2032
- 2.1.1 Business trends
- 2.1.2 Regional trends
- 2.1.3 Product trends
- 2.1.4 Application trends
Chapter 3 Commercial Refrigeration Equipment Industry Insights
- 3.1 Industry segmentation
- 3.2 Industry landscape, 2018 - 2032
- 3.3 Industry ecosystem analysis
- 3.3.1 Component suppliers
- 3.3.2 Manufacturers
- 3.3.3 Distributors
- 3.3.4 Technology providers
- 3.3.5 End-user landscape
- 3.3.6 Vendor matrix
- 3.4 Technology and innovation landscape
- 3.4.1 Gas free magnetic cooling system
- 3.4.2 Compressor protection controls
- 3.4.3 Digital compressors
- 3.4.4 Green DX systems
- 3.4.5 Penetration of IoT in refrigeration technology
- 3.4.6 LED lights
- 3.5 Regulatory landscape
- 3.5.1 North America
- 3.5.2 Europe
- 3.5.3 Asia Pacific
- 3.5.4 Latin America
- 3.5.5 MEA
- 3.6 Industry impact forces
- 3.6.1 Growth drivers
- 3.6.1.1 Growing demand for meat and dairy products
- 3.6.1.2 Product development initiatives due to technological advancements
- 3.6.1.3 Increasing investments in food & beverages industries in North America
- 3.6.1.4 Growing demand for transportation refrigeration in Europe
- 3.6.1.5 Growing floriculture industry in France
- 3.6.1.6 Increasing demand for frozen food and vegetables in Asia Pacific
- 3.6.1.7 Rapid growth of retail sector and cold food chains in Asia Pacific and Latin America
- 3.6.1.8 Growth of e-commerce sector in India & China
- 3.6.1.9 Increasing focus on food safety and energy saving in Middle East
- 3.6.1.10 Growing focus of governments to reduce food wastage in Africa
- 3.6.1.11 Shift of manufacturing facilities towards India, China, and Brazil
- 3.6.2 Industry pitfalls & challenges
- 3.6.2.1 Fluctuating fuel prices
- 3.6.2.2 Stringent regulations for part suppliers and OEMs
- 3.6.2.3 Slow pace in upgradation & replacement of old commercial refrigeration systems
- 3.7 Growth potential analysis
- 3.8 Porter's analysis
- 3.8.1 Supplier power
- 3.8.2 Buyer power
- 3.8.3 Threat of new entrants
- 3.8.4 Threat of substitutes
- 3.8.5 Internal rivalry
- 3.9 Competitive landscape, 2022
- 3.9.1 North America
- 3.9.2 Europe
- 3.9.3 Asia Pacific
- 3.9.4 Latin America
- 3.9.5 MEA
- 3.9.6 Strategy dashboard
- 3.10 PESTEL analysis
Chapter 4 Commercial Refrigeration Equipment Market, By Product (Revenue, Shipments)
- 4.1 Key trends in commercial refrigeration equipment market by product
- 4.2 Transportation refrigeration equipment
- 4.2.1 Market estimates and forecast, 2018 - 2032
- 4.2.2 Market estimates and forecast by region, 2018 - 2032
- 4.3 Refrigerators & freezers
- 4.3.1 Market estimates and forecast, 2018 - 2032
- 4.3.2 Market estimates and forecast by region, 2018 - 2032
- 4.4 Beverage refrigeration
- 4.4.1 Market estimates and forecast, 2018 - 2032
- 4.4.2 Market estimates and forecast by region, 2018 - 2032
- 4.5 Parts
- 4.5.1 Market estimates and forecast, 2018 - 2032
- 4.5.2 Market estimates and forecast by region, 2018 - 2032
- 4.6 Others
- 4.6.1 Market estimates and forecast, 2018 - 2032
- 4.6.2 Market estimates and forecast by region, 2018 - 2032
Chapter 5 Commercial Refrigeration Equipment Market, By Application (Revenue, Shipments)
- 5.1 Key trends in commercial refrigeration equipment market by application
- 5.2 Food service
- 5.2.1 Market estimates and forecast, 2018 - 2032
- 5.2.2 Market estimates and forecast by region, 2018 - 2032
- 5.3 Retail
- 5.3.1 Market estimates and forecast, 2018 - 2032
- 5.3.2 Market estimates and forecast by region, 2018 - 2032
- 5.4 Production
- 5.4.1 Market estimates and forecast, 2018 - 2032
- 5.4.2 Market estimates and forecast by region, 2018 - 2032
- 5.5 Distribution
- 5.5.1 Market estimates and forecast, 2018 - 2032
- 5.5.2 Market estimates and forecast by region, 2018 - 2032
- 5.6 Other equipment
- 5.6.1 Market estimates and forecast, 2018 - 2032
- 5.6.2 Market estimates and forecast by region, 2018 - 2032
Chapter 6 Commercial Refrigeration Equipment Market, By Region (Revenue, Shipments)
- 6.1 Key trends in commercial refrigeration equipment market by region
- 6.2 North America
- 6.2.1 Market estimates and forecast, 2018 - 2032
- 6.2.2 Market estimates and forecast by product, 2018 - 2032
- 6.2.3 Market estimates and forecast by application, 2018 - 2032
- 6.2.4 U.S.
- 6.2.4.1 Market estimates and forecast, 2018 - 2032
- 6.2.4.2 Market estimates and forecast by product, 2018 - 2032
- 6.2.4.3 Market estimates and forecast by application, 2018 - 2032
- 6.2.5 Canada
- 6.2.5.1 Market estimates and forecast, 2018 - 2032
- 6.2.5.2 Market estimates and forecast by product, 2018 - 2032
- 6.2.5.3 Market estimates and forecast by application, 2018 - 2032
- 6.3 Europe
- 6.3.1 Market estimates and forecast, 2018 - 2032
- 6.3.2 Market estimates and forecast by product, 2018 - 2032
- 6.3.3 Market estimates and forecast by application, 2018 - 2032
- 6.3.4 Germany
- 6.3.4.1 Market estimates and forecast, 2018 - 2032
- 6.3.4.2 Market estimates and forecast by product, 2018 - 2032
- 6.3.4.3 Market estimates and forecast by application, 2018 - 2032
- 6.3.5 UK
- 6.3.5.1 Market estimates and forecast, 2018 - 2032
- 6.3.5.2 Market estimates and forecast by product, 2018 - 2032
- 6.3.5.3 Market estimates and forecast by application, 2018 - 2032
- 6.3.6 Italy
- 6.3.6.1 Market estimates and forecast, 2018 - 2032
- 6.3.6.2 Market estimates and forecast by product, 2018 - 2032
- 6.3.6.3 Market estimates and forecast by application, 2018 - 2032
- 6.3.7 France
- 6.3.7.1 Market estimates and forecast, 2018 - 2032
- 6.3.7.2 Market estimates and forecast by product, 2018 - 2032
- 6.3.7.3 Market estimates and forecast by application, 2018 - 2032
- 6.3.8 Spain
- 6.3.8.1 Market estimates and forecast, 2018 - 2032
- 6.3.8.2 Market estimates and forecast by product, 2018 - 2032
- 6.3.8.3 Market estimates and forecast by application, 2018 - 2032
- 6.3.9 Russia
- 6.3.9.1 Market estimates and forecast, 2018 - 2032
- 6.3.9.2 Market estimates and forecast by product, 2018 - 2032
- 6.3.9.3 Market estimates and forecast by application, 2018 - 2032
- 6.4 Asia Pacific
- 6.4.1 Market estimates and forecast, 2018 - 2032
- 6.4.2 Market estimates and forecast by product, 2018 - 2032
- 6.4.3 Market estimates and forecast by application, 2018 - 2032
- 6.4.4 China
- 6.4.4.1 Market estimates and forecast, 2018 - 2032
- 6.4.4.2 Market estimates and forecast by product, 2018 - 2032
- 6.4.4.3 Market estimates and forecast by application, 2018 - 2032
- 6.4.5 India
- 6.4.5.1 Market estimates and forecast, 2018 - 2032
- 6.4.5.2 Market estimates and forecast by product, 2018 - 2032
- 6.4.5.3 Market estimates and forecast by application, 2018 - 2032
- 6.4.6 Japan
- 6.4.6.1 Market estimates and forecast, 2018 - 2032
- 6.4.6.2 Market estimates and forecast by product, 2018 - 2032
- 6.4.6.3 Market estimates and forecast by application, 2018 - 2032
- 6.4.7 South Korea
- 6.4.7.1 Market estimates and forecast, 2018 - 2032
- 6.4.7.2 Market estimates and forecast by product, 2018 - 2032
- 6.4.7.3 Market estimates and forecast by application, 2018 - 2032
- 6.4.8 Malaysia
- 6.4.8.1 Market estimates and forecast, 2018 - 2032
- 6.4.8.2 Market estimates and forecast by product, 2018 - 2032
- 6.4.8.3 Market estimates and forecast by application, 2018 - 2032
- 6.4.9 Singapore
- 6.4.9.1 Market estimates and forecast, 2018 - 2032
- 6.4.9.2 Market estimates and forecast by product, 2018 - 2032
- 6.4.9.3 Market estimates and forecast by application, 2018 - 2032
- 6.4.10 Australia
- 6.4.10.1 Market estimates and forecast, 2018 - 2032
- 6.4.10.2 Market estimates and forecast by product, 2018 - 2032
- 6.4.10.3 Market estimates and forecast by application, 2018 - 2032
- 6.5 Latin America
- 6.5.1 Market estimates and forecast, 2018 - 2032
- 6.5.2 Market estimates and forecast by product, 2018 - 2032
- 6.5.3 Market estimates and forecast by application, 2018 - 2032
- 6.5.4 Brazil
- 6.5.4.1 Market estimates and forecast, 2018 - 2032
- 6.5.4.2 Market estimates and forecast by product, 2018 - 2032
- 6.5.4.3 Market estimates and forecast by application, 2018 - 2032
- 6.5.5 Mexico
- 6.5.5.1 Market estimates and forecast, 2018 - 2032
- 6.5.5.2 Market estimates and forecast by product, 2018 - 2032
- 6.5.5.3 Market estimates and forecast by application, 2018 - 2032
- 6.5.6 Colombia
- 6.5.6.1 Market estimates and forecast, 2018 - 2032
- 6.5.6.2 Market estimates and forecast by product, 2018 - 2032
- 6.5.6.3 Market estimates and forecast by application, 2018 - 2032
- 6.5.7 Argentina
- 6.5.7.1 Market estimates and forecast, 2018 - 2032
- 6.5.7.2 Market estimates and forecast by product, 2018 - 2032
- 6.5.7.3 Market estimates and forecast by application, 2018 - 2032
- 6.6 Middle East & Africa (MEA)
- 6.6.1 Market estimates and forecast, 2018 - 2032
- 6.6.2 Market estimates and forecast by product, 2018 - 2032
- 6.6.3 Market estimates and forecast by application, 2018 - 2032
- 6.6.4 Saudi Arabia
- 6.6.4.1 Market estimates and forecast, 2018 - 2032
- 6.6.4.2 Market estimates and forecast by product, 2018 - 2032
- 6.6.4.3 Market estimates and forecast by application, 2018 - 2032
- 6.6.5 UAE
- 6.6.5.1 Market estimates and forecast, 2018 - 2032
- 6.6.5.2 Market estimates and forecast by product, 2018 - 2032
- 6.6.5.3 Market estimates and forecast by application, 2018 - 2032
- 6.6.6 South Africa
- 6.6.6.1 Market estimates and forecast, 2018 - 2032
- 6.6.6.2 Market estimates and forecast by product, 2018 - 2032
- 6.6.6.3 Market estimates and forecast by application, 2018 - 2032
- 6.6.7 Nigeria
- 6.6.7.1 Market estimates and forecast, 2018 - 2032
- 6.6.7.2 Market estimates and forecast by product, 2018 - 2032
- 6.6.7.3 Market estimates and forecast by application, 2018 - 2032
- 6.6.8 Kenya
- 6.6.8.1 Market estimates and forecast, 2018 - 2032
- 6.6.8.2 Market estimates and forecast by product, 2018 - 2032
- 6.6.8.3 Market estimates and forecast by application, 2018 - 2032
Chapter 7 Company Profiles
- 7.1 AB Electrolux
- 7.1.1 Business overview
- 7.1.2 Financial data
- 7.1.3 Product landscape
- 7.1.4 Strategic outlook
- 7.1.5 SWOT analysis
- 7.2 AHT Cooling Systems GmbH
- 7.2.1 Business overview
- 7.2.2 Financial data
- 7.2.3 Product landscape
- 7.2.4 Strategic outlook
- 7.2.5 SWOT analysis
- 7.3 Daikin Industries Ltd.
- 7.3.1 Business overview
- 7.3.2 Financial data
- 7.3.3 Product landscape
- 7.3.4 Strategic outlook
- 7.3.5 SWOT analysis
- 7.4 Danfoss A/S
- 7.4.1 Business overview
- 7.4.2 Financial data
- 7.4.3 Product landscape
- 7.4.4 Strategic outlook
- 7.4.5 SWOT analysis
- 7.5 Dover Corporation
- 7.5.1 Business overview
- 7.5.2 Financial data
- 7.5.3 Product landscape
- 7.5.4 Strategic outlook
- 7.5.5 SWOT analysis
- 7.6 Emerson Electric
- 7.6.1 Business overview
- 7.6.2 Financial data
- 7.6.3 Product landscape
- 7.6.4 Strategic outlook
- 7.6.5 SWOT analysis
- 7.7 GEA Group AG
- 7.7.1 Business overview
- 7.7.2 Financial data
- 7.7.3 Product landscape
- 7.7.4 Strategic outlook
- 7.7.5 SWOT analysis
- 7.8 Haier Corporation
- 7.8.1 Business overview
- 7.8.2 Financial data
- 7.8.3 Product landscape
- 7.8.4 Strategic outlook
- 7.8.5 SWOT analysis
- 7.9 Hussman Corporation
- 7.9.1 Business overview
- 7.9.2 Financial data
- 7.9.3 Product landscape
- 7.9.4 Strategic outlook
- 7.9.5 SWOT analysis
- 7.10 Illinois Tool Works Inc.
- 7.10.1 Business overview
- 7.10.2 Financial data
- 7.10.3 Product landscape
- 7.10.4 Strategic outlook
- 7.10.5 SWOT analysis
- 7.11 Ingersoll-Rand Plc.
- 7.11.1 Business overview
- 7.11.2 Financial data
- 7.11.3 Product landscape
- 7.11.4 Strategic outlook
- 7.11.5 SWOT analysis
- 7.12 Johnson Controls, Inc.
- 7.12.1 Business overview
- 7.12.2 Financial data
- 7.12.3 Product landscape
- 7.12.4 Strategic outlook
- 7.12.5 SWOT analysis
- 7.13 Lennox International, Inc.
- 7.13.1 Business overview
- 7.13.2 Financial data
- 7.13.3 Product landscape
- 7.13.4 Strategic outlook
- 7.13.5 SWOT analysis
- 7.14 Parker Hannifin Corp
- 7.14.1 Business overview
- 7.14.2 Financial data
- 7.14.3 Product landscape
- 7.14.4 Strategic outlook
- 7.14.5 SWOT analysis
- 7.15 United Technologies Corporation
- 7.15.1 Business overview
- 7.15.2 Financial data
- 7.15.3 Product landscape
- 7.15.4 Strategic outlook
- 7.15.5 SWOT analysis