Market Share of Commercial Refrigeration Equipment Industry
The commercial refrigeration equipment market is very competitive and highly concentrated due to various large and small players. All the major players account for a significant market share and focus on expanding the global consumer base. Some significant players in the market are Carrier Global, Johnson Controls, Irinox SpA, Daikin Industries Ltd, and Danfoss AB. Several companies are increasing their market share by forming collaborations, partnerships, and acquisitions and introducing new and innovative products to earn a competitive edge during the forecast period.
In May 2024, CAREL and SECO, which offer complete technological solutions for industrial digitalization, collaborated on creating a new solution to help digitally transform the infrastructures in CAREL's operational sectors. The two companies are developing an advanced supervision system essential for managing refrigeration processes efficiently by enabling real-time data collection and remote monitoring.
In May 2024, Dover Corporation announced the transaction completion of Hill PHOENIX, an operating company within Dover's Engineered Systems division and a prominent designer and producer of commercial refrigeration systems, has acquired specific assets and intellectual property from Tyler Refrigeration, a division of Carrier Corporation. This deal will enhance its standing in the commercial refrigeration industry. Following a short adjustment period, Tyler's customers will have access to Hill Phoenix products to meet the ongoing requirements. The company anticipates this will lead to a 30 to 40% boost in Hill PHOENIX's annual revenue.
Commercial Refrigeration Equipment Market Leaders
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Carrier Global
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Johnson Controls
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Irinox S.p.A.
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Daikin Industries Ltd.
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Danfoss AB
*Disclaimer: Major Players sorted in no particular order
