Walk-In Coolers Market Size - By Product Type (Seld-contained, Remote Condensing, Multiplex Walk-ins), By Storage Capacity, By Curtain Type, By Application, By Distribution Channel, Temperature Range, Power Consumption & Forecast 2024 – 2032

Walk-in Coolers Market Size

Walk-In Coolers Market was valued at USD 10 billion in 2023 and is anticipated to register a CAGR of over 5.7% during 2024 to 2032, due to the increasing demand for efficient and reliable cold storage solutions across various industries. These refrigerated storage units are crucial for preserving perishable goods, such as food and pharmaceuticals, as they maintain optimal temperature and humidity levels. In addition, stringent regulations regarding food safety and storage standards have propelled the adoption of walk-in coolers.
 

The increasing demand for temperature-controlled storage solutions is primarily attributed to the expanding food & beverage industry. According to the 2023 Food & Beverages Global Market Report, the global food & beverage market accounted for a CAGR of 7.3%. In 2023, food & beverage sales surpassed USD 7.2 billion worldwide, boosting the demand for storage tanks. Restaurants, supermarkets, and food distribution companies rely on walk-in coolers to preserve perishable goods, ensuring freshness and compliance with food safety regulations.
 

The upfront costs associated with the installation of walk-in coolers can be substantial, especially for larger and more sophisticated systems. This initial investment can act as a barrier for smaller businesses or those with budget constraints, limiting market penetration. Furthermore, advancements in energy-efficient technologies, walk-in coolers can be energy-intensive. The rising energy costs and concerns about environmental sustainability may lead to hesitancy among businesses to adopt or expand their use of walk-in coolers.
 

Walk-In Coolers Market Trends

The increasing emphasis on sustainability is fueling the demand for more energy-efficient walk-in coolers. Manufacturers are incorporating advanced insulation materials, LED lighting, and energy-efficient compressors to reduce energy consumption and operational costs. Moreover, the integration of smart technologies, such as IoT sensors and monitoring systems, is becoming more prevalent in walk-in coolers. These technologies enable real-time monitoring of temperature and other conditions, allowing businesses to optimize energy usage and ensure food safety.
 

Walk-In Coolers Market Analysis

In 2023, the self-contained walk-in coolers segment led the market, holding the largest share of 64%, and generating a substantial revenue of USD 6.6 billion. This significant market presence can be attributed to the inherent advantages offered by self-contained units. They are known for their simplicity and ease of installation, making them a popular choice among end-users. Additionally, self-contained walk-in coolers eliminate the need for complex refrigeration systems and external components, leading to cost savings in both installation and maintenance.
 

The 20F – 28F range acquired the 35% share of the walk-in coolers market in 2023. This temperature range is well-suited for preserving a wide range of perishable goods, striking a balance between ensuring freshness and energy efficiency. Industries such as food and pharmaceuticals often require storage conditions within this range, boosting the demand for walk-in coolers with the specified temperature capabilities.
 

In 2023, units with a storage capacity of up to 2 tons dominated the market capturing the largest share of 38%. This dominance can be attributed to smaller businesses, such as local restaurants and convenience stores, adopting walk-in coolers with up to 2 tons of storage capacity as they are sufficient for their needs. These compact coolers are more energy-efficient, which aligns with the growing emphasis on sustainability and cost-effectiveness. The ease of installation and lower maintenance costs associated with smaller units also contribute to their popularity in the market, making the up-to-2-tons segment the preferred choice for a wide range of businesses.
 

The food & beverage sector captured the 40% share of the walk-in coolers market in 2023. This significant share can be attributed to the role walk-in coolers play in preserving perishable goods, ensuring food safety, and maintaining optimal storage conditions. The food & beverage industry, with its extensive array of products requiring precise temperature control, relies heavily on walk-in coolers to extend the product shelf life, minimize waste, and uphold quality standards. As the consumer demands for fresh and frozen products continue to rise, the food & beverage segment is expected to sustain its leading position in the walk-in cooler market, reflecting the importance of these cooling solutions in this dynamic sector.
 

The indirect sales segment captured more than 65% of the market share in 2023. This significant share can be credited to several factors, including the wide presence of dealers, distributors, and retailers in the market. Indirect sales channels provide customers with a diverse range of options and convenient access to walk-in coolers through an extensive network of intermediaries. These channels often offer value-added services, such as installation, maintenance, and after-sales support, enhancing the overall customer experience.
 

North America region accounted for over 35% share of the walk-in coolers market in 2023. The region's thriving food & beverage industry, stringent regulations governing food safety, and the increasing demand for refrigeration solutions across various sectors contribute to the regional market growth. North America's advanced infrastructure and wide adoption of technology in cold storage systems contribute to the region's leadership in the global market. The region's focus on energy-efficient and environment friendly cooling solutions aligns with the growing global emphasis on sustainability.
 

Walk-in Coolers Market Share

In 2023, major market players, including American Panel Corporation, Arctic Walk-in Coolers & Walk-in Freezers, Beverage Air, Carrier Corporation, Emerson Electric Co., and Kolpak collectively held around 45-50% market share. The walk-in cooler market is fragmented, with large established companies holding greater shares. These prominent players are proactively involved in strategic endeavors such as mergers & acquisitions, facility expansions, and collaborations to expand their product portfolios, extend their reach to a broader customer base, and strengthen their market position. These enterprises consistently allocate resources to R&D, aiming to enhance their designs and integrate cutting-edge technologies, ensuring they maintain a competitive edge.
 

Major players operating in the walk-in coolers industry include:

• ABN Refrigeration Manufacturing
• American Panel Corporation
• Arctic Walk-in Coolers & Walk-in Freezers
• Beverage Air
• Canadian Curtis Refrigeration Inc.
• Carrier Corporation
• Danfoss A/S
• Emerson Electric Co.
• Everidge Inc.
• Hussmann Corporation
• Imperial Brown Inc.
• Kolpak
• Standex International Corporation
• Viessmann Group
   

Walk-In Coolers Market News

• In January 2024, Hussmann, a Panasonic company, launched Evolve Technologies to provide low Global Warming Potential (GWP) refrigeration solutions. It provides technologies that enable the use of more sustainable and environment friendly refrigerants including R-744 (CO2) and R-290 (propane).  
   
• In July 2023, Viessmann Refrigeration Solutions acquired a majority stake in BMIL Technologies, a refrigerated warehouses and cold storage company based in North Carolina. The acquisition accelerated Viessmann’s transition towards natural refrigerant solutions for clean and cold rooms in the North American market.
   
• In May 2023, Imperial Brown, a leading manufacturer of custom walk-in coolers and freezers, began production at its fourth manufacturing plant, located in Tucson, Arizona. With 102,000 square feet under roof, the factory will reduce shipping costs and lead time for delivery of walk-in coolers and freezers for clients in the Southwestern U.S., including the states of Arizona, southern California, Nevada, New Mexico, and portions of Utah and Colorado.
   

This walk-in coolers market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Billion) and volume (Thousand Units) from 2018 to 2032, for the following segments:

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Market, By Product type

• Self-contained
• Remote condensing
• Multiplex walk-ins

Market, By Temperature Range

• 20F – 28F
• 28F – 32F
• 32F – 35F
• 36F – 40F

Market, By Power Consumption

• Up to 1 KWH
• 2 to 3 KWH
• 4 to 5 KWH
• Above 5 KWH

Market, By Storage Capacity

• Up to 2 tons
• 3 to 5 tons
• 6 to 10 tons
• Above 10 tons

Market, By Curtain Type

• Strip curtain
• Air curtain

Market, By Application

• Food & beverage
• Healthcare
• Pharmaceuticals
• Floral
• Mortuary
• Convenience Stores

Market, By Distribution channel

• Direct sales
• Indirect sales

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada 
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Malaysia
  • Indonesia
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America 
• MEA
  • Saudi Arabia
  • UAE
  • South Africa
  • Rest of MEA