Commercial Refrigeration Equipment Market

Commercial refrigeration equipment such as refrigerators and freezers and widely adopted for the preservation of food and beverages in hypermarket, supermarket, food convenience, and specialty stores. It is primarily used to increase the self-life of the products. The growth of the global commercial refrigeration equipment market is driven by the demand for ready-to-eat products, beverages, and frozen food and energy efficiency improvement of commercial refrigeration equipment. However, the market growth can be hindered due to the stringent regulations against the use of fluorocarbon refrigerants.

The global commercial refrigeration equipment market is expected to grow at about 6.78% CAGR during the forecast period and reach USD 10,036.9 million by 2025. In 2018, the market was led by North America, with a 35.86% share, followed by Asia-Pacific and Europe with shares of 32.01% and 23.11%, respectively.

The commercial refrigeration equipment market has been segmented based on type, application, and region. On the basis of type, the walk-in/reach-in coolers segment dominated the market with a share of 50.98%, accounting for a value of USD 3,255.7 million in 2018; it is projected to grow at the CAGR of 5.92% during the forecast period. On the basis of application, the supermarket segment dominated the market with a share of 60.15%, accounting for a value of USD 3,841.6 million in 2018; it is projected to grow at the CAGR of 6.22% during the forecast period.