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- * Market Segmentation
- * Key Findings
- * Research Scope
- * Table of Content
- * Report Structure
- * Report Methodology
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Refrigeration Equipment Market Size, Share, and Industry Analysis, By Type (Transport Equipment, Refrigerators and Freezers, Beverage Refrigerators, and Others), By Application (Food Service, Food and Beverage Retail, Food and Beverage Distribution, Food and Beverage Production, and Others), Regional Insights and Forecast From 2025 To 2034
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REFRIGERATION EQUIPMENT MARKET OVERVIEW
The global Refrigeration Equipment Market size stood at USD 35.17 billion in 2025, growing further to USD 64.03 billion by 2034 at an estimated CAGR of 6.88% from 2025 to 2034.
The United States Refrigeration Equipment Market size is projected at USD 18.72485 billion in 2025, the Europe Refrigeration Equipment Market size is projected at USD 9.17954 billion in 2025, and the China Refrigeration Equipment Market size is projected at USD 6.3483 billion in 2025.
Refrigeration is acquiring notoriety because of expanded interest for refrigerated food and refreshment items, alongside its developing applications in synthetic compounds and drugs, friendliness area and some more. Utilization of quality food things, for example, prepared to eat and frozen natural products is expanding inferable from the need of a solid eating routine and change in inclinations of the clients worldwide. Rising unofficial laws, and concerns with respect to unsafe refrigerants that help the ozone consumption are giving the adequate market valuable chances to execute attractive refrigeration innovation and green innovation.
Refrigeration hardware is a mix of a ton of frameworks that join in making a total bundle of refrigeration. Single refrigeration gear may principally comprise of various sorts and states of development gadgets, an inbuilt blower, and a controller that keeps the temperature inside the fridge steady and likewise stops the stockpile of power when it accomplishes that specific temperature. It consists of a great deal of advantages and taking into account every one of them is an exceptionally essential thing. On the off chance that any of the advantages are overlooked even to a little degree, individuals can not save their food and beverages appropriately and get credit from it by any means in any case without a doubt. The different uses and benefits of it facilitates the growth of the refrigeration equipment.
KEY FINDINGS
- Market Size and Growth: USD 35.17 billion in 2025, growing further to USD 64.03 billion by 2034 at an estimated CAGR of 6.88% from 2025 to 2034.
- Key Market Driver: In developing countries like India, cold storage infrastructure contributes around 43.7% of total cold-chain revenue, driven by rising perishables production.
- Major Market Restraint: High installation and operational costs—due to expensive components like compressors, condensers, evaporators.
- Emerging Trends: The shift from F‑gases to natural refrigerants (e.g., ammonia, CO₂) saw natural-refrigerant equipment adoption grow by roughly 12% globally over the past five years.
- Regional Leadership: Japan held over 20% of Asia-Pacific’s commercial refrigeration market revenue in 2022; Germany contributed about 25% of Europe’s share.
- Competitive Landscape: The commercial refrigeration market is fragmented, with the top five players (e.g., Daikin, Johnson Controls) holding just 20–25% of global market share.
- Market Segmentation: Commercial refrigeration makes up roughly 40% of total refrigeration market share worldwide.
- Recent Development: Global refrigerant leaks account for approximately 20% of refrigerant emissions, prompting stricter regulatory controls and equipment redesign.
COVID-19 IMPACT
Need in Various Industries to Improve Market Growth
The global COVID-19 pandemic has been unprecedented and staggering, with it experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.
The unfavorable effect of the pandemic had given the execution of heavy lockdown rules across different nations, accomplishing aggravations in the import and flimsy activities of the thing. At any rate, the progression pursued for importance in the market extended the first class improvement during the pandemic.The usage of this in all the industries such as food and beverage industry and others for purposes increased the necessity. With every one of the current circumstances additionally, the advancement of the market of refrigeration equipment figures post-COVID-19 is shown in the market.
LATEST TRENDS
Commercial Usage to Improve Market Growth
Commercial refrigerators and freezers are in high demand across developed and developing economies for storing medications and later in the fourth quarter for storing vaccine vials due to the need to prevent medications and drugs from spoiling. These economies have established cold chains that provide effective and hygienic equipment. From that point forward, all pharmaceutical firms and medical facilities mostly sourced their supplies from this equipment. Additionally, as consumers' reliance on safe and hygienic packaged food goods grows, producers and retailers are forced to work longer hours as a result of takeout orders from restaurants and business establishments. This is driving up demand for refrigerators in the commercial sector. Such demands are expected to pose an opportunity for global refrigeration equipment market growth during the forecast period.
- Energy-efficient refrigeration units reduce electricity consumption by up to 30%, thanks to advanced heat exchangers and insulation.
- Adoption of variable frequency drives (VFDs) in compressors can yield energy savings up to 25%.
REFRIGERATION EQUIPMENT MARKET SEGMENTATION
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By Type
Based on type; the market is divided into Van Refrigeration, Truck Refrigeration , Trailer Refrigeration.
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By Application
Based on application; the market is divided into Food/Beverages, Pharmaceuticals/Chemicals, Plants/Flowers, Others.
DRIVING FACTORS
Magnetic Refrigeration Technique to Increase Production
A change in temperature is caused by applying a reversible magnetic field in the recently introduced magnetic refrigeration technique, which is based on the magneto caloric effect. A powerful magnetic field is applied to the refrigerant, aligning numerous magnetic dipoles and decreasing the equipment's internal temperature. This magnetic refrigeration technology can be integrated since it is affordable, environmentally friendly, robust, safe, and uses less energy overall, making it suitable for use in commercial refrigeration equipment all over the world.. Such demands are anticipated to drive the refrigeration equipment market share.
Uses in Food and Beverage Industry to Improve Market Growth
The industry that generates the greatest annual revenue for the global GDP is the food and beverage sector, ranking among the top industries across all regions. Through roughly 680,000 retail stores and food service outlets, the industry serves the clients by converting the raw farm commodities produced by its over 2 million farms into consumer food products. This increases global sales of equipment as well as rates of production and consumption. Additionally, an increase in the use of commercial refrigeration equipment is a result of the rising demand for consumer and ready-to-eat food and beverage items. These factors and different uses are anticipated to drive the refrigeration equipment market growth during the forecast period.
- In the U.S., refrigeration systems account for about 40% of supermarket energy consumption, fueling demand for energy-efficient models.
- In India, organized retail expansion and online grocers are key drivers, with commercial refrigeration market growing at ~6.8% through 2031.
RESTRAINING FACTORS
Being Environmental Unfriendly to Impede Market Growth
Dependency on power sources is the biggest restriction. The majority of refrigerators to store food require a power source. The size of the refrigerators being big or large can also prove to be one of the biggest disadvantages. The gasses evolved from them also proved to be unfriendly to the environment and harmful to the ozone layer. These factors restrict the growth of the refrigeration equipment market.
- Industrial refrigeration systems carry high capital/operational costs, particularly for advanced safety and control setups.
- Stringent regulations on F-gases—and safety concerns around ammonia—pose additional design and compliance challenges.
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REFRIGERATION EQUIPMENT MARKET REGIONAL INSIGHTS
North America to Dominate Market due to High Rate of Consumers
North America holds the biggest piece of the refrigeration equipment market because of the biggest assembling organizations in various conditions of nations such as the U.S. being the main makers. The accessibility of assets primarily relies upon the nations of America. The pace of utilization being higher in these districts is additionally one reason. This additionally added to the development in the foundation of different producer organizations to extend the market development in the area.
KEY INDUSTRY PLAYERS
New Methods by Manufacturers to Improve Market Growth
The report turns the overall relationship of get-together individuals and their new turn of events. Sorting out unequivocally exactly as expected to parties the essential data, it is utilized through basic assessment, creative developments, acquisitions, and interests. Discretionary viewpoints noted for this market join affiliations that work with and offer new things, the geographic locales they base on, computerization, lead gathering, making the most undeniably reimbursing pieces, and having guaranteed contact with their things.
- Kingtec: Ranked among top global manufacturers for van and transport refrigeration systems .
- Chereau: Flagged as a key van‑equipment provider in global road‑transport refrigeration reports .
List Of Top Refrigeration Equipment Companies
- Kingtec
- Chereau
- Lamberet
- Wabash National
- Subros
- Morgan
- Zanotti (Daikin)
- GAH Refrigeration
- HwaSung Thermo
- DENSO
- MHI
- Great Dane
- Carrier Transicold
- Thermo King (Ingersoll Rand)
REPORT COVERAGE
This examination outfits a report with evaluations that consider the portrayal liberated from the business ties that could change the timespan that is being tangled. The layout gives a reasonable perspective concerning collecting affiliations with its boundless appearance structures, market validness, and late new developments. By reviewing the parts, for example, division, expected open pieces, energy restores, plans, improvement, size, shares, drivers, blocks, and others, it gives a general assessment under the course of the finished point by point evaluation. This assessment could be changed considering the focal information and future market part changes.
Attributes | Details |
---|---|
Market Size Value In |
US$ 35.17 Billion in 2025 |
Market Size Value By |
US$ 64.03 Billion by 2034 |
Growth Rate |
CAGR of 6.88% from 2025 to 2034 |
Forecast Period |
2025-2034 |
Base Year |
2024 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
|
By Types
|
|
By Application
|
FAQs
The Refrigeration Equipment Market is expected to reach USD 64.03 billion by 2034.
The Refrigeration Equipment Market is expected to exhibit a CAGR of 6.88% by 2034.
The Refrigeration Equipment Market is USD 35.17 billion in 2025.
The Refrigeration Equipment Market is segmented by Type Van Refrigeration System and Bodies, Truck Refrigeration System and Bodies, Trailer Refrigeration System and Bodies, And Application Food/Beverages, Pharmaceuticals/Chemicals, Plants/Flowers, Others,
North America leads the market
Kingtec, Chereau, Lamberet, Wabash National, Subros, Morgan, Zanotti (Daikin), GAH Refrigeration, HwaSung Thermo, DENSO, MHI, Great Dane, Carrier Transicold, Thermo King (Ingersoll Rand) the top companies operating in the Refrigeration Equipment Market.