Commercial Refrigeration Global Market Insights 2025, Analysis and Forecast to 2030, by Manufacturers, Regions, Technology, Application, Product Type

Commercial Refrigeration Market Review 2025

The Commercial Refrigeration market is anticipated to witness substantial growth from 2025 to 2030, driven primarily by the increased demand for food and beverage preservation along with the expansion of the retail sector. As consumers prioritize food safety and sustainability, the adoption of advanced refrigeration technologies becomes essential. Innovations in energy-efficient systems and the growing trend of online food deliveries will further propel market growth.

The global Commercial Refrigeration market was valued at approximately $40.2 billion in 2022 and is projected to reach about $59.4 billion by 2030, growing at a CAGR of around 6.4% during the forecast period.

The Commercial Refrigeration market is segmented by product type into:

• Transportation Refrigeration Equipment: Expected to grow at a CAGR of 5%-8%, due to the increasing need for logistics and cold chain solutions.
• Refrigerators & Freezers: Hold the largest market share, projected to account for about 30%-35% of the total market by 2030.
• Beverage Refrigeration: This segment is projected to grow at a rate of 6%-9%, fueled by rising demand for chilled beverages.
• Display Showcases: Anticipated to grow at a CAGR of 7%-10%, as more stores employ visual merchandising techniques.
• Refrigerated Vending Machine: Expected to show significant growth, estimated at 4%-6% CAGR, driven by the trend towards self-service.
• Others: Includes various specialized refrigeration solutions, accounting for about 5%-7% market share.

The competitive landscape of the Commercial Refrigeration market comprises key players such as:

• Daikin: A leader in innovative HVAC systems and commercial refrigeration.
• Johnson Controls: Known for energy-efficient technologies and building management.
• Carrier Corporation: A pioneer in refrigeration, providing customized solutions across various sectors.
• Kingtec: Specializes in high-efficiency refrigeration systems.
• Frigotechnik Handels-GmbH: Focuses on industrial-grade refrigeration solutions.
• Dover Corporation: Offers specialized equipment and services in commercial refrigeration.
• Haier Group: A major player in the consumer and commercial appliance markets.

Commercial refrigeration can be categorized into two main processes:

• Thermal Expansion: This classical method is widely used due to its simplicity and effectiveness, accounting for about 60% of the market.
• Cascade Refrigeration Systems: Gaining traction for their efficiency in high-performance applications, representing approximately 40% of the market.

The application segment of the Commercial Refrigeration market includes:

• Hotels/Restaurants & Catering: This segment is estimated to hold the largest share of around 35%, driven by the increasing hotel and restaurant chains globally.
• Supermarkets & Hypermarkets: Forecasted to grow at a CAGR of 6%-8%, owing to the rising demand for frozen and chilled products.
• Convenience Stores: Projected growth of 4%-7%, led by the proliferation of convenience retailing.
• Others: Includes various commercial applications, making up about 5%-7% of the overall market.

In terms of end-use, the segments include:

• Retail Sector: Accounts for approximately 40% of the market share, with grocery stores and supermarkets driving significant demand.
• Food Services: About 30% share, including restaurants and catering services.
• Healthcare: Predicted to grow substantially at a CAGR of 7%-9%, due to increased demand for pharmaceuticals and vaccines that require cold storage.
• Others: Comprising various commercial entities, representing about 5%-7% of total end-use.

The Commercial Refrigeration market is also analyzed by region, with key markets including:

• North America: Expected to dominate the market with around 30% share, backed by advanced retail infrastructure.
• Europe: Following closely, anticipated to account for 27% as sustainability trends gain traction.
• Asia-Pacific: Witnessing the fastest growth at a CAGR of 8%-10%, driven by urbanization and rising disposable income.
• Latin America: Projected to experience steady growth of 5%-7%, largely due to developing retail networks.
• Middle East and Africa: Gradual growth forecasted at 4%-6%, with emerging markets in African nations.

Recent market trends indicate enhanced regulations promoting energy-efficient technologies to combat climate change. In addition, key players such as Daikin and Johnson Controls are investing heavily in R&D to develop sustainable refrigeration systems, supporting compliance with environmental policies.

In terms of company initiatives, Carrier Corporation launched a new line of environmentally friendly systems that utilize low-GWP refrigerants, catering to a growing demand for sustainable solutions. Haier Group, on its part, has further strengthened its foothold in the market through strategic acquisitions and partnerships targeted at enhancing production capabilities and entering emerging markets.

Looking ahead, the Commercial Refrigeration market is expected to see progressive development across all segments, with steady growth in application areas such as retail and food services leading the charge. Segment forecasts indicate:

• Transportation Refrigeration Equipment: Should see a growth rate of 5%-8%.
• Display Showcases: Anticipated to increase at a CAGR of 7%-10% due to visual merchandising trends.
• Beverage Refrigeration: Expecting growth in the range of 6%-9% as health-conscious consumers opt for chilled products.

Overall, with a solid market growth trajectory, the Commercial Refrigeration space offers lucrative opportunities for key players and stakeholders in the coming years.