Commercial Refrigerators And Freezers Market

By Application;

Food Service, Retail Stores, Pharmaceuticals, Hospitality and Food Processing

By Product Type;

Display Refrigerators, Walk-In Refrigerators, Commercial Freezers, Undercounter Refrigerators and Glass Door Refrigerators

By End Use;

Restaurants, Supermarkets, Cafes, Bars and Convenience Stores

By Cooling Technology;

Vapor Compression, Thermoelectric, Magnetic Refrigeration and Absorption Cooling

By Geography;

North America, Europe, Asia Pacific, Middle East & Africa and Latin America - Report Timeline (2021 - 2031)
Report ID: Rn045784132 Published Date: October, 2025 Updated Date: November, 2025

Commercial Refrigerator and Freezer Market Overview

Commercial Refrigerator and Freezer Market (USD Million)

Commercial Refrigerator and Freezer Market was valued at USD 31820.90 million in the year 2024. The size of this market is expected to increase to USD 47846.87 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 6.0%.


Commercial Refrigerators And Freezers Market

*Market size in USD million

CAGR 6.0 %


Study Period2025 - 2031
Base Year2024
CAGR (%)6.0 %
Market Size (2024)USD 31820.90 Million
Market Size (2031)USD 47846.87 Million
Market ConcentrationMedium
Report Pages381
31820.90
2024
47846.87
2031

Major Players

  • Carrier Global Corporation
  • Daikin Industries, Ltd.
  • Johnson Controls International plc
  • Panasonic Corporation
  • Mitsubishi Electric Corporation
  • United Technologies Corporation (UTC)
  • Hussmann Corporation

Market Concentration

Consolidated - Market dominated by 1 - 5 major players

Commercial Refrigerators And Freezers Market

Fragmented - Highly competitive market without dominant players


The Commercial Refrigerators and Freezers Market is witnessing significant growth as businesses increasingly prioritize efficient storage and food preservation. Adoption across hospitality, healthcare, and retail has surged by more than 40%, driven by the need to reduce wastage and maintain quality. These solutions are becoming essential for reliable operations across diverse industries.

Key Growth Drivers
A rising focus on sustainable technologies and energy efficiency is reshaping the market. Nearly 35% of enterprises have already transitioned to eco-friendly refrigeration systems, aiming to lower costs and support environmental initiatives. Expanding restaurant chains and foodservice outlets continue to stimulate demand for advanced cooling units.

Technological Advancements
The adoption of AI-driven monitoring, IoT integration, and smart sensors has enhanced the capabilities of commercial refrigeration. Over 50% of new systems now feature connected solutions, offering real-time performance tracking and predictive servicing. Such advancements help reduce downtime while ensuring compliance with storage standards.

Industry Adoption Trends
Growing emphasis on food safety regulations and operational efficiency is pushing businesses to upgrade refrigeration systems. About 45% of food industry operators rely on automated and high-capacity solutions to support large-scale operations. The adoption of these technologies highlights a shift toward data-enabled refrigeration management.

Future Outlook
The Commercial Refrigerators and Freezers Market shows strong potential for expansion, with around 60% of stakeholders planning higher investments in intelligent refrigeration systems. Continuous R&D and innovation are expected to accelerate automation, sustainability, and long-term efficiency in this evolving market.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Application
    2. Market Snapshot, By Product Type
    3. Market Snapshot, By End Use
    4. Market Snapshot, By Cooling Technology
    5. Market Snapshot, By Region
  4. Commercial Refrigerator And Freezer Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Technological Advancements in Energy Efficiency
        2. Increasing Demand for Food Safety and Quality
        3. Growth in Food Retail Chains
        4. Stringent Regulations on Refrigerant Usage
        5. Expansion of Cold Chain Logistics
      2. Restraints
        1. High Initial Investment Costs
        2. Energy Consumption Concerns
        3. Regulatory Compliance Challenges
        4. Refrigerant Phase-Outs
      3. Opportunities
        1. Adoption of Natural Refrigerants
        2. Expansion into Emerging Markets
        3. Retrofitting Existing Refrigeration Systems
        4. Integration of IoT and Smart Technologies
        5. Demand for Sustainable and Energy-efficient Solutions
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Commercial Refrigerators And Freezers Market, By Application, 2021 - 2031 (USD Million)
      1. Food Service
      2. Retail Stores
      3. Pharmaceuticals
      4. Hospitality
      5. Food Processing
    2. Commercial Refrigerators And Freezers Market, By Product Type, 2021 - 2031 (USD Million)
      1. Display Refrigerators
      2. Walk-In Refrigerators
      3. Commercial Freezers
      4. Undercounter Refrigerators
      5. Glass Door Refrigerators
    3. Commercial Refrigerators And Freezers Market, By End Use, 2021 - 2031 (USD Million)
      1. Restaurants
      2. Supermarkets
      3. Cafes
      4. Bars
      5. Convenience Stores
    4. Commercial Refrigerators And Freezers Market, By Cooling Technology, 2021 - 2031 (USD Million)
      1. Vapor Compression
      2. Thermoelectric
      3. Magnetic Refrigeration
      4. Absorption Cooling
    5. Commercial Refrigerator And Freezer Market, By Geography, 2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. Carrier / Carrier Commercial Refrigeration
      2. Emerson Electric Co.
      3. Daikin Industries
      4. Danfoss A/S
      5. GEA Group
      6. Johnson Controls / United Technologies
      7. Electrolux / AB Electrolux
      8. Haier Group
      9. LG Electronics
      10. Liebherr-International AG
      11. AHT Cooling Systems
      12. Ali Group S.r.l.
      13. Illinois Tool Works Inc.
      14. Hoshizaki International
      15. Beverage-Air
  7. Analyst Views
  8. Future Outlook of the Market