Commercial Refrigeration Equipment Market - Trends Forecast Till 2028

Commercial Refrigeration Equipment Market, by Material Type (Copper, Low Carbon), End-Use (Residential, Commercial, Industrial), Implementation (New Construction, Retrofit) and Geography (North America, Europe, Asia-Pacific, Middle East and Africa and South America)

Published Date: December, 2021

Base Year Estimate: 2020

Report ID: D-CM-CREM-834


Number of Pages: 297

Domain: Chemicals & Materials

Commercial Refrigeration Equipment Market – Trends Forecast Till 2028

The global commercial refrigeration equipment market size was valued at USD 33.53 billion in 2020. It is expected to expand at a compound annual growth rate (CAGR) of 4.2% from 2021 to 2028.

Refrigeration system consists of several equipment’s like compressor, condenser, evaporator, expansion devices etc. A refrigerant compressor is a machine used to compress the refrigerant from the evaporator and to raise its pressure so that the corresponding temperature is higher than that of the cooling medium.

The rapid expansion of the tourism and hospitality sector and the growing preference of end-customers to takeaway meals are some of the factors that have supported long-term expansion for Commercial Refrigeration Equipment Market.

COVID-19 had a significant economic impact on various financial as well as industrial sectors, such as travel & tourism, manufacturing, construction, and aviation. The end-use sectors of commercial refrigeration equipment, such as hotels & restaurants, supermarkets & hypermarkets, convenience store, and bakeries have been impacted. Hotels & restaurants and bakeries was one of the severely impacted sectors due to strict lockdowns and curfew in most countries to prevent the spread of coronavirus.

Commercial Refrigeration Equipment Market Research Report

The Asia Pacific is expected to be the largest market of commercial refrigeration equipment during the forecast period. The increasing population in the region, improving economic conditions, such as rising GDP & disposable incomes, and a booming consumer appliances sector have led to growth in the commercial refrigeration equipment in the region.

Commercial Refrigeration Equipment Market is segmented into product, system type, capacity, application and region.

On the basis of Product

  • Transportation Refrigeration Equipment
  • Refrigerators & Freezers
  • Beverage Refrigeration
  • Display Showcases
  • Ice Merchandisers & Ice Vending Equipment
  • Other Equipment

On the basis of System Type

  • Self-contained
  • Remotely operated

On the basis of Capacity  

  • Less than 50 cu. Ft.
  • 51 cu. Ft. to 100 cu. Ft.
  • More than 100 cu. Ft.

On the basis of Application

  • Food services
  • Food and beverage retail
  • Food and beverage distribution
  • Food and beverage production

On the basis of Region

  • Asia Pacific
  • North America
  • Europe
  • South America
  • Middle East & Africa

Insights are provided for each region and major countries within the regions

Commercial Refrigeration Equipment Market Primary Respondent


Key Players

  • Dover Corporation
  • DAIKIN Industries, Ltd.
  • Carrier; AB Electrolux
  • Ali S.p.A

Recent Developments

  • In July 2021, BITZER has launched gas coolers for carbon dioxide (CO2) applications in commercial and light industry refrigeration. These coolers provide resistance to pressure and thermal efficiency. They offer advantage for systems with medium or large capacity of more than 250 kW
  • In May 2021, Danfoss launches multi-refrigerant, A2L-ready condensing units for ultra-low GWP installations. It comes with high energy efficiency and reduces consumption of energy and indirect emissions.

Reasons to Acquire

  • Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
  • Gain authentic and granular data access for Commercial Refrigeration Equipment Market so as to understand the trends and the factors involved behind changing market situations
  • Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
  • In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope


Report Feature


Growth Rate

CAGR of 4.2% during the forecasting period, 2021-2028

Historical Data


Forecast Years


Base Year


Units Considered

Revenue in USD billion and CAGR from 2021 to 2028

Report Segmentation

product, system type, capacity, application and region.

Report Attribute

Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling

Regional Level Scope

North America, Europe, Asia-Pacific, South America, and Middle East and Africa

Country Level Scope

U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe)

Companies Profiled

Dover Corporation; DAIKIN Industries, Ltd.; Carrier; AB Electrolux; Ali S.p.A.

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