Home > Industrial Machinery > HVAC > Commercial Refrigeration Equipment Market

Commercial Refrigeration Equipment Market Size

Report ID: GMI414
Published Date: Aug 2023
Report Format: PDF

Download Free Sample

Commercial Refrigeration Equipment Market Size

Commercial Refrigeration Equipment Market size is projected to register a CAGR of over 3.5% from 2023 to 2032, driven by the increasing demand for packaged food and beverages across the globe.

To get key market trends

Download Free Sample

The surging consumer preference for convenience and on-the-go consumption along with the incessant need for reliable and efficient refrigeration solutions for preserving perishable products will drive the market growth. The rising trend of development of energy-efficient systems has led to the higher adoption of advanced cooling technologies and smart monitoring solutions. Moreover, the burgeoning focus of market players on R&D investments to meet sustainability goals and adhere to stringent regulations will influence the market growth.

Commercial Refrigeration Equipment Market Report Attributes
Report Attribute	Details
Base Year:	2022
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	3.5%
Historical Data for:	2018 to 2022
No. of Pages:	350
Tables, Charts & Figures:	485
Segments covered:	Product, Application and Region
Growth Drivers:	Rapid expansion of global trade and supply chains R&D investments for technical improvements and innovative product development Booming retail and cold food chains in Asia Pacific and Latin America Increasing governments focus on the reduction of food wastage. Rising demand for advanced refrigeration solutions for efficient storage of vaccines and medical supplies.
Pitfalls & Challenges:	Fluctuating fuel prices Stringent regulations for part suppliers and OEMs Slow pace in upgradation & replacement of old commercial refrigeration systems

What are the growth opportunities in this market?

Download Free Sample

Commercial Refrigeration Equipment Market Growth Drivers and Restraints

The growing demand for eco-friendly refrigeration solutions coupled with the rising need for precise temperature control in the pharmaceutical industry will positively impact the market share. In addition, the sluggish obligation for upgrading and replacing outdated systems may lead to declining product demand. Despite advancements in technology and the need for energy-efficient solutions, many businesses are hesitating to invest in new equipment due to the high initial costs and rising concerns about operational disruptions. The growing focus on addressing these challenges through incentives, education, and innovative financing options may help with the market growth.

Authors: Suraj Gujar

Frequently Asked Questions (FAQ) :

The market size for commercial refrigeration equipment is estimated to record more than 3.5% CAGR from 2023 to 2032, driven by the increasing demand for refrigeration solutions in the food and beverages production sector.

The refrigerator & freezers segment is projected to expand at over 4% growth rate through 2032, owing to their widespread usage in supermarkets, convenience stores, and hypermarkets.

Indian commercial refrigeration equipment industry is expected to witness around 5% gains up to 2032, attributed to the increasing demand for packaged and ready-to-eat foods in the country.

Parker Hannifin Corp., Johnson Controls, Emerson Electric, GEA Group AG,0020AB Electrolux, Ingersoll-Rand, Plc., Danfoss A/S, Hussman Corporation, Daikin Industries Ltd., and Lennox International are some of the top companies engaged global market.