Cold Storage Equipment Market Analysis

Cold Storage Equipment Market Analysis

Based on type, the cold rooms segment accounted for revenue of around USD 19 billion in 2023 and expected to reach around USD 32 billion by 2032. Cold storage equipment is an essential component of any cold room, as it is responsible for maintaining the low temperatures required for preserving perishable goods. These cold rooms are widely used in industries such as food processing, pharmaceuticals, and agriculture, where maintaining a specific temperature range is crucial for the quality and safety of the products.
 

The U.S. Department of Agriculture (USDA) estimated gross refrigerated storage capacity in the US to be around 104.8 million cubic meters (3.70 billion cubic feet) in 2023. Usable refrigerated storage capacity, defined as the actual area used for storing commodities, represented 81% of the gross space. The total number of refrigerated warehouses was 900. As a result, with the demand for frozen and chilled products continues to rise, the need for efficient and reliable cold storage facilities is also increasing. This has led to a significant growth in the cold storage equipment market, as more and more companies invest in advanced cold rooms to store their perishable goods.
 

Based on application, the food & beverages segment crossed USD 35 billion in 2023 and likely to exceed USD 61 billion by 2032. Cold storage equipment plays a crucial role in storing and preserving food and beverage products, ensuring their freshness and quality. According to the Food & Drink Europe, in 2023 EU food and drink industry generates a turnover of USD 1200 billion (€1.1 trillion) and USD 248 billion (€229 billion) in value added, making it one of the largest manufacturing industries in the EU.
 

As a result, with the rising trend of food and beverage companies expanding their operations globally has boosted the demand for cold storage equipment. With the need to transport and store products across borders and long distances, there is a higher demand for advanced and efficient cold storage solutions that can maintain the quality of products even during long journeys.
 

North America cold storage equipment market size surpassed USD 18 billion in 2023 and expected to reach around USD 30 billion by 2032, driven by factors such as the increasing demand for refrigerated storage and transportation, government initiatives, and technological advancements.
 

The U.S. Department of Agriculture (USDA) estimated gross refrigerated storage capacity in the US to be around 104.8 million cubic meters (3.70 billion cubic feet) in 2023. Usable refrigerated storage capacity, defined as the actual area used for storing commodities, represented 81% of the gross space. The total number of refrigerated warehouses was 900. There was about 17.41 million cubic meters (0.615 billion cubic feet) of usable cooler capacity, defined as spaces that maintain temperatures between 0 and 10°C (0 and 50°F). There was approximately 68.34 million cubic meters (2.413 billion cubic feet) of usable freezer capacity, defined as spaces that maintain temperatures of about –17.8°C (0°F) or lower.