Commercial Refrigeration Equipment Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Commercial Refrigeration Equipment Market Report is Segmented by Product Type (Blast Chillers, Refrigerator and Freezer, Transportation Refrigeration, Refrigerated Display Cases, Beverage Refrigeration, Ice Cream Freezer, and Refrigerated Vending Machine), Refrigerant Type (Fluorocarbons, Hydrocarbons, and Inorganics), Application ((Food & Beverages [Food Service & Distribution, Hotels & Restaurants, and Bakeries], Retail [Supermarkets & Hypermarkets and Convenience Stores], Chemicals, and Healthcare & Pharmaceuticals)), and Geography (North America, Europe, Asia Pacific, Middle East and Africa, and Latin America). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

Commercial Refrigeration Equipment Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Commercial Refrigeration Equipment Industry Overview

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

  1. Carrier Global

  2. Johnson Controls

  3. Irinox S.p.A.

  4. Daikin Industries Ltd.

  5. Danfoss AB

  6. *Disclaimer: Major Players sorted in no particular order
Commercial Refrigeration Equipment Market Concentration