Explore Commercial Refrigeration Equipment Market Size, Share – Analysis and Forecast Report 2024

The global commercial refrigeration equipment market is expected to grow at a CAGR of 6.4% during the forecast period with its market size predicted to reach USD 64.0 billion by 2024. The increasing demand for ready-to-eat food and the mounting number of organized retail shops are the major factors leading to the high demand of commercial refrigeration equipment in the global market.

Increasing utilization and demand for refrigeration systems in various grocery stores, supermarkets, convenience stores and speciality food stores are the key trends observed in the commercial refrigeration equipment market across the globe.

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Based on equipment type, the commercial refrigeration equipment market is segmented into walk-in coolers, beverage refrigeration, transportation refrigeration equipment, display cases, parts, ice making machineries, and others.

The beverage refrigeration category has been further bifurcated into beverage cooling & dispensing units, drinking fountains, beer dispensing units, soda fountain equipment, and others. Of all, the beverage cooling & dispensing units hold the largest share in the market.

Asia-Pacific is the largest commercial refrigeration equipment market due to the increasing industrialization, in countries such as India and China. Increasing population in the region is also one of the reason behind the growth of the market.

Some of the major players operating in the global commercial refrigeration equipment market are United Technologies Corporation, Johnson Controls International PLC, Daikin Industries Ltd., Dover Corporation, AB Electrolux, Illinois Tool Works Inc., Hussmann Corporation, Frigoglass S.A.I.C., AHT Cooling Systems GmbH, and Ali Group S.p.A.

Source: VynZ Research