Global Commercial Refrigeration System Market – Industry Trends and Forecast to 2030

 Commercial Refrigeration System Market Analysis and Size

To meet consumer demand, the commercial refrigeration equipment market is constantly changing. Using cutting-edge technological solutions in commercial refrigeration systems has become a significant trend in the forecast period. Refrigerators and freezers are essential equipment in the food service industry that are used to store food and give consumers access to wholesome, fresh food products.

Data Bridge Market Research analyses that the commercial refrigeration system market, valued at USD 50,746.23 million in 2022, will reach USD 79,668.95 million by 2030, growing at a CAGR of 5.8% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand

Commercial Refrigeration System Market Scope and Segmentation  

Market Definition

The cold storage equipment used in commercial settings is called commercial refrigeration equipment. For instance, it includes reach-in freezers and refrigerators in grocery stores, convenience stores, specialty food stores, and supermarkets. Commercial refrigeration equipment includes walk-in freezers and refrigerators used in cafeterias and restaurants.

Refrigeration technology allows storing food and beverages longer without going bad in businesses and homes. Commercial refrigeration is used to maintain the temperature of prepared foods and meal components for convenience and safety.

Commercial Refrigeration System Market Dynamics

Drivers

• An increase in the demand for non-alcoholic beverages and frozen foods help to boom the market

Since working professionals prefer instant foods and have less time to prepare traditional meals, frozen food products have become more popular. Thus, growth can be seen in the refrigerator market. Since the previous years, non-alcoholic beverages have also seen a significant increase. Energy drinks, shakes, and other beverages are consumed in large quantities, so it is important to store them in refrigerators to keep them safe. Therefore, the market for commercial refrigerators has boomed.

• Modern technologies will lower costs, thereby driving the market growth

Commercial refrigerators with ENERGY STAR certification use an average of 1.89 kWh of energy per day, compared to 4.44 kWh for refrigerators with lower efficiency. Climate problems associated with high GWP refrigerants, such as ozone depletion and global warming, drive the need for alternatives. Therefore, the rising focus of the major market players to deploy modern technologies in commercial refrigerators to address hazardous gas emissions will widen the market's growth scope. Commercial refrigerators with ENERGY STAR certification are one way of simultaneously conserving energy and addressing this global issue. By improving refrigeration equipment's energy efficiency, these systems lower operating costs.

Opportunities

• The popularity of commercial refrigerators has increased as ice cream consumption has increased

Many people prefer a dairy products like ice cream. To meet consumers' growing demand, a sizable number of players in the global ice cream market are introducing a wide variety of tantalizing flavors. To safeguard the ice-cream from melting and damage, refrigerators must be allowed. As a result, it is anticipated that the expansion of the ice cream industry will lead to the market for commercial refrigeration equipment growing.

• The use of cutting-edge magnetic refrigeration technology will promote growth

A temperature change is caused by applying a reversible magnetic field in the newly introduced magnetic refrigeration technology based on the magnetocaloric effect. A strong magnetic field lowers the temperature inside the apparatus by aligning different magnetic dipoles with the refrigerant. Implementing this magnetic refrigeration technology is economical, environmentally friendly, long-lasting, and safe. It uses less energy overall, making it suitable for commercial refrigeration equipment worldwide and boosting growth.

Restraints/Challenges

• High purchasing costs will constrain the market

The cost of purchasing the machines is predicted to impede the market growth. As commercial refrigerators, freezers, and other equipment are designed to fit in large spaces, the cost of the equipment varies depending on size. Therefore, the cost of buying and maintaining such massive equipment becomes a barrier.

This  commercial refrigeration system market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the commercial refrigeration system market contact Data Bridge Market Research for an analyst brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Developments

• In 2021, Fuji mark corp., a Japanese commercial food refrigeration equipment brand, announced the expansion of its subsidiaries in Malaysia and the Philippines. This move is likely to boost the company's business.
• In 2021, Carrier Corp. delivered 16 new trucks and vans fitted with its TransCold refrigeration system to Euro food, which deals in the chilled and frozen food supply.
• In 2021, Emerson Electric Co. donated sustainable refrigeration to a gem city market at the helix innovation center in Dayton, Ohio. It was a collaborative grocery store in a local food desert that sold fresh food products.
• In 2020, Stay cold, a South Africa-based commercial appliances manufacturer, announced the launch of a commercial hinge door freezer. Introduction to a new product is likely to augment its business

Global Commercial Refrigeration System Market Scope

The commercial refrigeration system market is segmented on the basis of product type, category, refrigerant type, application, operation, distribution channel, and component. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product type

• Freezer
• Blast freezer
• Contact freezer
• Refrigerator
• Walk in refrigerators
• Commercial reach in refrigerators
• Under counter refrigerators
• Counter top beverage
• Merchandiser and display
• Food prep
• Refrigerated vending machines
• Display cases/ showcases
• Ice cream cabinets
• Bakery display
• Butchery cases
• Ice cream machines
• Ice machines
• Others
• Seafood
• Transportation refrigerators

Category

• Self-contained
• Remote condensing

Refrigerant Type

• Aerohydro Chlorofluorocarbon (HCFC)
• Hydro Fluorocarbon (HFC)
• Hydrocarbon (HC)
• Inorganic

Application

• Food services
• Full service restaurants & hotels
• Quick service restaurants
• Caterers
• Others
• Food trucks
• Food retail
• Hypermarkets & supermarkets
• Convenience stores
• Speciality food stores
• Other retail stores
• Food distribution
• Food production
• Other
• Food processing industry

Operation

• Plug in
• Remote

Distribution channel

• Direct sales
• Indirect sales

Component

• Compressor
• Condenser
• Evaporator
• Control
• Others

Commercial Refrigeration System Market Regional Analysis/Insights

The commercial refrigeration system market is analysed and market size insights and trends are provided by country, product type, category, refrigerant type, application, operation, distribution channel, and component as referenced above.

The countries covered in the commercial refrigeration system market  report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the market and will continue to flourish its trend of dominance during the forecast period. The major factors in the growing demand are the growth of the food and service industry and rising dining preferences in restaurants, hotels, and other similar facilities.

Europe will undergo the highest growth rate during the forecast period due to the high demand from developing economies such as the U.K., France, and Germany. In addition, increasing demand for frozen food items and the growth of the retail chain.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Commercial Refrigeration System Market Share Analysis

The commercial refrigeration system market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to commercial refrigeration system market.

Some of the major players operating in the commercial refrigeration system market are:

• Hussmann Corporation. (U.S.)
• Dover Corporation (U.S.)
• Traulsen (U.S.)
• DAIKIN INDUSTRIES, Ltd. (Japan)
• Johnson Controls (U.S.)
• Emerson Electric Co. (U.S.)
• Danfoss A/S (Denmark)
• GEA Group Aktiengesellschaft (Germany)
• MAYEKAWA MFG. CO., LTD. (Japan)
• LU-VE S.p.A. (Italy)
• H. Güntner Limited. (U.K.)
• Baltimore Aircoil Company (U.S.)
• MAYEKAWA MFG. CO., LTD. (Japan)
• The Middleby Corporation (U.S.)

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