Commercial Refrigeration Equipment Market Analysis

Commercial Refrigeration Equipment Market Analysis

Commercial refrigeration equipment market from the refrigerator & freezers segment is set to expand at around 4% CAGR through 2032. The growth can be attributed to the rising preference for supermarkets, convenience stores, and hypermarkets due to their higher cold storage capacities to accommodate diverse range of perishable products. Additionally, the growing investments in walk-in units as they offer versatile solutions for multiple applications, including pharmaceutical, food service, medical, catering, and educational institutions will fuel the segment growth.

Commercial refrigeration equipment market size from the food and beverage production application segment is poised to record more than 2.5% CAGR between 2023 and 2032, particularly attributed to the high production of milk & dairy products. The increasing production of milk and dairy products, such as cheese & butter is also fostering the demand for refrigeration solutions across the food and beverage sector, further adding to the market expansion.

India commercial refrigeration equipment market is expected to witness about 5% growth rate during 2023 to 2032. The rapid urbanization, expanding middle class, and changing consumer preferences have led to the high demand for packaged and ready-to-eat foods. The growing preference for organized retail spaces has boosted the requirement for advanced refrigeration solutions to ensure the quality and longevity of perishable products in the country. The continued efforts by industry participants on providing end-to-end refrigeration solutions will also contribute to the regional market growth.