Commercial Refrigeration Market Size To Worth USD 43.19 Billion By 2029 | CAGR of 5.93% Report By TechSci Research

The global commercial refrigeration market is booming, driven by increasing food and beverage storage demands and the adoption of energy-efficient systems.

The TechSci Research's report, "Global Commercial Refrigeration Market - Industry Size, Share, Trends, Competition Forecast & Opportunities, 2029", the market hit USD 43.19 billion in 2023 and is expected to grow at a 5.93% CAGR from 2025 to 2029. This sector is vital within refrigeration, catering to various commercial and industrial cooling needs. Drivers include rising demand for fresh and frozen foods, stringent food safety regulations, and a focus on energy efficiency and sustainability. The industry is embracing smart, connected solutions and adjusting to consumer preferences for fresh, healthy, locally sourced products. E-commerce growth and last-mile delivery also play significant roles. Challenges include environmental regulations, refrigerant transitions, and cost concerns regarding eco-friendly systems.

Browse over xx market data Figures spread through xxx Pages and an in-depth TOC on "Global Commercial Refrigeration Market.” 

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The global commercial refrigeration market thrives on the increasing demand for fresh and frozen foods due to population growth and urbanization. This surge has prompted the establishment of supermarkets, hypermarkets, and specialty food outlets, necessitating efficient refrigeration solutions. Evolving lifestyles and dietary habits further drive the need for advanced refrigeration systems, accommodating frozen foods, ready-to-eat meals, and specialty products. Stringent food safety regulations propel businesses to invest in modern technology to meet compliance standards and prevent financial losses.

Energy efficiency and environmental concerns are paramount for businesses in this market, driving them to seek energy-efficient systems like variable-speed compressors and eco-friendly refrigerants to minimize costs and emissions. Integration of smart technologies enhances operational efficiency and reduces energy consumption.

E-commerce growth and last-mile delivery services drive innovation in refrigerated transportation, ensuring safe delivery of perishable goods. The market segmentation includes application, end use (supermarkets/hypermarkets, hotels & restaurants, bakeries), regional distribution, and company. Bakeries, spurred by the demand for fresh baked goods, are a rapidly growing segment, investing in advanced refrigeration solutions to preserve products and comply with food safety regulations.

Major companies operating in Global Commercial Refrigeration Market are:

  • Carrier Corporation
  • Daikin Industries Ltd.
  • Emerson Electric Co.
  • Johnson Controls International plc
  • Lennox International Inc.
  • Trane Technologies plc
  • Hussmann Corporation
  • Dover Corporation
  • Frigoglass S.A.I.C.
  • Panasonic Corporation

 

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The Commercial Refrigeration Market is vital in providing cooling and freezing products to commercial, industrial, and retail sectors. Drivers include increasing demand for fresh and frozen foods, strict food safety standards, energy efficiency, and adoption of smart technology. Sustainability and eco-friendly refrigerants are prioritized due to consumer preferences. E-commerce and last-mile delivery services boost demand for cold storage solutions. Market players must tackle regulatory compliance and transition to eco-friendly refrigerants. Mr. Karan Chechi, Research Director at TechSci Research, highlights these points.

The report, "Commercial Refrigeration Market – Global Industry Size, Share, Trends, Opportunity, and Forecast (2018-2028)", evaluates future growth potential, offering insights into size, structure, and trends. It provides valuable market intelligence for decision-makers, identifying emerging trends, drivers, challenges, and opportunities in the global commercial refrigeration market.

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View More Consumer Reports:

India Electrical Kitchen Appliances Market: India Electrical Kitchen Appliances Market has valued at USD 7.01 billion in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 6.75% through 2029. 

India Built-in Kitchen Appliances Market: India built-in kitchen appliances market is expected to reach USD601.18 million by 2028, growing at a CAGR of 8.83% during the forecast period. 

India Bread Improvers Market: Besides, growing varieties of confectionery items coupled with increasing trend among consumers to obtain baked goods that are healthier are aiding the bread improvers market in India.

India Refrigerator Market: The India refrigerator market, which is expected to grow at a CAGR of 11.62% during the forecast period, reaching around USD5880.87 million by 2028.

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