Commercial refrigeration equipment market will be worth US$

DUBAI, United Arab Emirates, March 01, 2022 (GLOBE NEWSWIRE) — The commercial refrigeration equipment market is expected to witness a considerable value CAGR of 4.0% over the period 2022 and 2029 Witnessing a 3.4% increase over 2021, global commercial refrigeration equipment sales will exceed revenues by $51,771.3 million by the end of 2022.

As indicated by a recent study by Future Market Insights (FMI), the commercial refrigeration equipment market will grow at a moderate CAGR from 2022 to 2029. The demand will be mainly driven by higher production of F&B products and preferential consumer movement to Quick Service Restaurants (QSRs), globally.

Commercial Refrigeration Equipment Market Value (2021A) US$49,813.9 million
Commercial Refrigeration Equipment Market Estimate (2022E) US$51,771.3 million
Commercial Refrigeration Equipment Market Forecast (2029F) US$68,283.9 million
CAGR Value (2022-2029) 4.0%
Share of collective value: top 3 countries (2022E) 36.8%

Request a sample report for complete information on

Sustainable and energy-efficient refrigeration systems are set to become the norm in end-use industries, which is expected to force manufacturers to increase investment in R&D and product innovations. Leveraging energy-efficient technologies to offer low Global Warming Potential (GWP) products with rich features will be the way to capture significant market share in the long run.


  • Rising demand for ready-to-eat products and expanding retail outlets are driving sales of commercial refrigeration equipment.
  • North America and Europe would collectively account for more than half of the market value share by the end of 2029.
  • The food service sector will remain a top application area to invest in, for players in the commercial refrigeration equipment market.
  • The application of new refrigerant regulations such as EPA 680 upgrade and Kigali Amendment for the phase-down of HFC refrigerants will have a significant impact on the growth of the market.
  • The higher average unit cost of freezers and refrigerators hints at lower volume sales relative to value gains, with around 2.6 million units sold in 2021.
  • Glass-door display cases, which account for about a third of total sales volume, continue to generate relatively low revenue compared to freezers and refrigerators.
  • Sales of beverage dispensers and display cases in end-use industries will show a moderate year-over-year increase in 2022, which will collectively account for nearly 16% of total commercial refrigeration equipment sales this year -the.

For any questions related to the report, ask an [email protected]

Report scope

Attribute Details
Forecast period 2022-2029
Historical data available for 2014-2021
Market analysis Million USD for value and (‘000) units for volume
Key regions covered North America, Latin America, Europe, APEJ, MEA, Japan
Main countries covered United States, Canada, Brazil, Mexico, Germany, Italy, France, United Kingdom, Spain, Russia, Poland, Turkey, South Africa, Japan, China, India, Australia, New Zealand.
Key Segments Covered By product type, by application, by region
Profiled Key Companies
  • Blue Star Limited
  • Transport company
  • Danfoss A/S
  • Electrolux
  • Standex international company
  • Hussaman Corporation
  • Illnois Tool Works
  • Dover Corporation
  • Hoshizaki Company
  • Whirlpool Company
  • GEA SA Group
  • Innovative displays
  • Others
Report cover Market forecasts, company share analysis, competitive intelligence, DROT analysis, market dynamics and challenges, and strategic growth initiatives

Chinese players strive to conquer the domestic market

In developed markets, the rapid acceptance of alternative refrigerants to benefit from regulatory standards as well as the expansion of F&B processing industries continue to contribute to the development of the commercial refrigeration equipment market.

The growth of the commercial refrigeration equipment market in Asia-Pacific has been influenced by a shift in Asian eating habits towards Western-style cooked meals. With the ability to manufacture their own compressors, Chinese companies are gaining a competitive edge to reign supreme in their home market with local brands.

We offer bespoke solutions to meet your needs, request customization @

Competitive Trends

In 2021, the top four stakeholders, including Carrier Corporation, Daikin Industries, Ltd., Danfoss A/S, and Hussman Corporation, collectively accounted for 20-25% of revenue share. The emergence of a large number of small players in developing countries has led to price competition, with major market players losing their profit margins. Market fragmentation will continue until 2029, driven by regional regulatory standards and enhanced capacities of local players.

Learn about FMI’s extensive ongoing coverage in the field of industrial automation

Variable Refrigerant Flow (VRF) Systems Market – Variable Refrigerant Flow (VRF) systems are a mature heating, ventilation, and air conditioning (HVAC) technology that simultaneously heats and cools an area by extracting heat from an area that needs cooling and transfers heat to another area.

Refrigeration Compressor Market – Refrigeration can be defined as the process of removing heat from an enclosed substance or space with the aim of reducing temperature. A refrigeration compressor is a fundamental and crucial part of the refrigeration system.

Commercial Refrigeration Systems Market – Refrigeration is the process of removing excess heat from space and transferring it to the environment. It is well known that spoilage of food, drink and many other substances is reduced at a lower temperature.

Screw Conveyor Market – According to the latest research findings, the Screw Conveyor market is expected to register a CAGR of 6% to 8% from 2021 to 2031. The demand for the product will experience a higher growth revival in the near term, with optimistic long-term growth prospects. Course.

Right Angle Fasteners Market – According to the assessment, the Right Angle Fasteners market is expected to grow at over 4% to 6% CAGR during the assessment period from 2021 to 2031. The demand for Right Angle Fasteners Angled will see moderate growth in the near term, with optimistic long-term growth prospects.

Slurry Valves Market – According to research, the slurry valves market is expected to grow between 4% to 8% CAGR during the assessment period 2021 to 2031. The growth of oil and gas sectors across the globe has led to an increase in the demand for mud valves.

Storm Surge Barriers Market – According to research estimates, the storm surge barriers market is expected to show promising growth between 3% to 4% during the period of 2021 to 2031.

Slicer Accessories Market – Insights revealed by the study on the Slicer Accessories market show substantial gains, with the market growing at a healthy CAGR of 6% to 7% from 2021 to 2031.

Traffic Light Controller Market – A study on the Traffic Light Controller Market reveals that the industry is expected to grow at a CAGR of around 4-6% from 2021 to 2031.

Trommel Display Market – Based on the valuation, the Trommel Display Market is expected to grow at 3.5% to 4% CAGR during the assessment period from 2021 to 2031.

About Future Market Insights (IMF)

Future Market Insights (FMI) is a leading provider of market information and advisory services, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centers in the UK, USA and India. FMI’s latest market research reports and industry analysis help businesses meet challenges and make critical decisions with confidence and clarity amidst fierce competition. Our custom and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of analysts led by FMI experts continuously monitor emerging trends and events across a wide range of industries to ensure our clients are prepared for the changing needs of their consumers.


future market outlook,
1602-6 Jumeirah Bay Tower X2,
Parcel number: JLT-PH2-X2A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
For sales inquiries: [email protected]
For media inquiries: [email protected]
Source of the press release:

Comments are closed.