Commercial Food Refrigeration Equipment Market Size & Share 2023 to 2032
Market Size by Type, by Category, by Refrigerant Type, by Application (Food Service, Food Retail, Food Distribution, Food Production, and Others), by Distribution Channel (Direct & Indirect) Regions & Global Forecast.
Report ID: GMI7443
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Published Date: November 2023
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Report Format: PDF
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Authors:
Preeti Wadhwani, Aishvarya Ambekar
Commercial Food Refrigeration Equipment Market Size
Commercial Food Refrigeration Equipment Market size was valued at around USD 35.34 billion in 2022 and is projected to grow at a CAGR of over 5.3% between 2023 and 2032.
Commercial Food Refrigeration Equipment Market Key Takeaways
Market Size & Growth
Key Market Drivers
Challenges
The factors attributed to drive the industry are growing demand of frozen food, increasing no. of retail outlet, and increasing Globalization and Cold Chain Logistics.
Commercial Food Refrigeration Equipment Market Trends
Commercial Food Refrigeration Equipment industry is the increasing demand for healthier and fresher food choices. Consumers are becoming more conscious of the impact of proper refrigeration on food quality and safety. There's a growing preference for transparent refrigeration displays in grocery stores, allowing customers to easily view and access fresh produce. Furthermore, there's a rising interest in smaller, more efficient refrigeration units for commercial kitchens, aligning with the trend of compact urban living spaces. Additionally, consumers are showing a greater interest in smart refrigeration solutions that offer features such as precise temperature control, energy efficiency, and the ability to monitor food storage remotely via mobile applications, ensuring better food preservation and reduced wastage.
Commercial Food Refrigeration Equipment Market Analysis
Based on type, the market is segmented into freezer, refrigerator, refrigerated vending machines, display cases/show cases, and others. Wherein refrigerators currently claim the largest share. These units cater to diverse needs across various industries, from hospitality to healthcare, owing to their versatility, adaptability, and broad applications. Meanwhile, refrigerated vending machines are rapidly gaining ground and are anticipated to exhibit the fastest CAGR of 6.5% by 2032 attributed to the burgeoning demand for on-the-go fresh and frozen food items in various public spaces, including malls, transportation hubs, and workplaces. The convenience, accessibility, and expanding product offerings in vending machines equipped with refrigeration capabilities contribute significantly to this swift market advancement, reflecting the evolving consumer preferences for immediate, chilled food options in today's fast-paced lifestyle.
Based on category Commercial Food Refrigeration Equipment market is segmented into self-contained, remote condensing. In 2022, self-contained refrigeration systems accounted for the largest share at 75.3%. These systems offer a compact, all-in-one solution and are particularly favoured for their ease of installation and suitability for smaller establishments. This evolution can be attributed to the energy efficiency and noise reduction benefits associated with remote condensing systems, which appeal to larger facilities and businesses, aligning with the increasing emphasis on sustainability and cost-effectiveness in commercial refrigeration solutions.
Based on refrigerant type, the market is segments into hydrochlorofluorocarbons, hydrofluorocarbons, ammonia, and others. As of 2022, hydrofluorocarbons (HFCs) dominated the commercial food refrigeration market, capturing the largest share at 50%. Their prevalent use stemmed from their effectiveness as refrigerants and their comparatively low flammability. However, a noticeable shift in refrigerant preferences is becoming apparent. Ammonia and natural refrigerants are rapidly gaining traction due to their eco-friendly properties, with a focus on reducing environmental impact and complying with stringent regulations. Their accelerating CAGR signifies a growing awareness and adoption of sustainable refrigeration alternatives, reflecting the industry's commitment to minimizing greenhouse gas emissions and transitioning towards greener refrigeration solutions.
Based on application, Commercial Food Refrigeration Equipment market is segmented into food service, food retail, food distribution, food production, and others. In 2022, the Food Retail sector notably led the commercial food refrigeration market, claiming the highest share at 41.2%. This dominance is attributed to the increasing demand for cold storage solutions in supermarkets, hypermarkets, and food retail chains. However, the Food Production sector is experiencing a surge in demand, indicating the CAGR. This progress surge reflects a higher necessity for commercial refrigeration equipment in food production facilities, including meat processing, dairy, and other food manufacturing units. The amplifying CAGR signifies an escalating requirement for advanced refrigeration technologies and storage solutions to maintain the integrity, quality, and safety of perishable food items during various stages of production.
Based on distribution channel, Commercial Food Refrigeration Equipment Market is segmented into direct and indirect. Direct channel, holding the highest share in 2022. This trend emphasizes a growing inclination towards direct procurement from manufacturers or primary suppliers. Direct channels offer businesses several advantages, including cost efficiency, better control over the supply chain, and potentially quicker access to a wide range of products. The ascendancy of this channel signifies the evolving preferences of buyers, seeking a more streamlined approach for procuring commercial food refrigeration equipment directly from the source.
The U.S. leads the North American market due to due to its well-established food service industry, stringent regulations, and a robust demand for food safety compliance. The region is witnessing a surge in demand due to rapid urbanization, expanding food retail, and changing consumption patterns. Increasing disposable incomes, coupled with a growing preference for frozen and chilled food products.
Commercial Food Refrigeration Equipment Market Share
Some of the major market players operating in the Commercial Food Refrigeration Equipment industry are:
Commercial Food Refrigeration Equipment Industry News:
In 2023, Carrier Announces New Commercial Refrigeration Equipment Line Carrier, a leading provider of heating, ventilating, and air conditioning (HVAC) systems, has announced a new line of commercial refrigeration equipment. The new line of equipment is designed to be more energy-efficient and sustainable than previous models.
In September 2023, Emerson Introduces New Copeland Scroll Compressor Emerson, a leading global provider of technology and solutions for the HVAC industry, has introduced a new Copeland Scroll compressor. The new compressor is designed to be more efficient and quieter than previous models.
Commercial Food Refrigeration Equipment market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Billion from 2018 to 2032, for the following segments:
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By Type, (USD Million; Units)
By Category, (USD Million; Units)
By Refrigerant Type, (USD Million; Units)
By Application, (USD Million; Units)
By Distribution Channel, (USD Million; Units)
The above information is provided for the following regions and countries:
Research methodology, data sources & validation process
This report draws on a structured research process built around direct industry conversations, proprietary modelling, and rigorous cross-validation and not just desk research.
Our 6-step research process
1. Research design & analyst oversight
At GMI, our research methodology is built on a foundation of human expertise, rigorous validation, and complete transparency. Every insight, trend analysis, and forecast in our reports is developed by experienced analysts who understand the nuances of your market.
Our approach integrates extensive primary research through direct engagement with industry participants and experts, complemented by comprehensive secondary research from verified global sources. We apply quantified impact analysis to deliver dependable forecasts, while maintaining complete traceability from original data sources to final insights.
2. Primary research
Primary research forms the backbone of our methodology, contributing nearly 80% to overall insights. It involves direct engagement with industry participants to ensure accuracy and depth in analysis. Our structured interview program covers regional and global markets, with inputs from C-suite executives, directors, and subject matter experts. These interactions provide strategic, operational, and technical perspectives, enabling well-rounded insights and reliable market forecasts.
3. Data mining & market analysis
Data mining is a key part of our research process, contributing nearly 20% to the overall methodology. It involves analysing market structure, identifying industry trends, and assessing macroeconomic factors through revenue share analysis of major players. Relevant data is collected from both paid and unpaid sources to build a reliable database. This information is then integrated to support primary research and market sizing, with validation from key stakeholders such as distributors, manufacturers, and associations.
4. Market sizing
Our market sizing is built on a bottom-up approach, starting with company revenue data gathered directly through primary interviews, alongside production volume figures from manufacturers and installation or deployment statistics. These inputs are then pieced together across regional markets to arrive at a global estimate that stays grounded in actual industry activity.
5. Forecast model & key assumptions
Every forecast includes explicit documentation of:
✓ Key growth drivers and their assumed impact
✓ Restraining factors and mitigation scenarios
✓ Regulatory assumptions and policy change risk
✓ Technology adoption curve parameter
✓ Macroeconomic assumptions (GDP growth, inflation, currency)
✓ Competitive dynamics and market entry/exit expectations
6. Validation & quality assurance
The final stages involve human validation, where domain experts manually review filtered data to identify nuances and contextual errors that automated systems might miss. This expert review adds a critical layer of quality assurance, ensuring data aligns with research objectives and domain-specific standards.
Our triple-layer validation process ensures maximum data reliability:
✓ Statistical Validation
✓ Expert Validation
✓ Market Reality Check
Trust & credibility
Verified data sources
Trade publications
Security & defense sector journals and trade press
Industry databases
Proprietary and third-party market databases
Regulatory filings
Government procurement records and policy documents
Academic research
University studies and specialist institution reports
Company reports
Annual reports, investor presentations, and filings
Expert interviews
C-suite, procurement leads, and technical specialists
GMI archive
13,000+ published studies across 30+ industry verticals
Trade data
Import/export volumes, HS codes, and customs records
Parameters studied & evaluated
Every data point in this report is validated through primary interviews, true bottom-up modelling, and rigorous cross-checks. Read about our research process →