Commercial Refrigeration Equipment Market To Reach $67.90 Billion By 2033

Commercial Refrigeration Equipment Market Growth & Trends

The global commercial refrigeration equipment market size is expected to reach USD 67.90 billion by 2033, registering a CAGR of 5.0% from 2026 to 2033, according to a new report by Grand View Research, Inc. The major aspects driving the market growth are the increasing consumption of frozen foods and the significant expansion of tourism and hospitality industries.

The rising environmental concerns about harmful emissions produced by refrigerators such as Hydro-chlorofluorocarbons (HCFC) and Chlorofluorocarbons (CFC) have led to the establishment of norms promoting the adoption of energy-efficient equipment for commercial refrigeration. The Clean Air Act launched by the U.S. Environment Protection Agency mandates the regularized application of low Global Warming Potential (GWP) refrigerants in the commercial segment.

Such regulatory measures are urging the companies operating in market to develop energy-efficient offerings with lesser environmental impact. For instance, in September 2022, Carrier Transicold introduced its new range of cutting-edge sustainable and electric temperature-controlled transport units at IAA Transportation 2022 in Germany. The new product offerings include Carrier’s first hydrogen fuel cell-powered Vector trailer unit supporting the temperature-controlled transport solutions for decarbonizing the cold chain.

The global outbreak of the COVID-19 pandemic had severely affected the commercial foodservice industry and retail industries, thereby impacting the expansion of the commercial refrigeration equipment market. However, the industry witnessed a strong demand from the pharmaceutical and biotechnology industries with the increasing need to produce and store vaccines. Several pharmaceutical firms and research institutes demanded vaccine storage refrigerators as a part of their R&D activities to deliver life-saving vaccines against the coronavirus.

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Commercial Refrigeration Equipment Market Report Highlights

• The refrigerators and freezers segment dominated the market with a market share of over 28% in 2025, driven by the global expansion of the travel and tourism industry, which has led to the proliferation of food joints, cafes, and quick-service restaurants requiring reliable refrigeration solutions.

• The self-contained segment accounted for the largest market share of 86.66% in 2025, owing to the rising preference for plug-and-play refrigeration solutions across foodservice outlets, convenience stores, and small retail chains.

• The 51 cu. Ft. to 100 cu. Ft. segment accounted for the largest market share of 48.82% in 2025, owing to the rising demand for mid-sized refrigeration units that balance storage capacity with space efficiency.

• The food service segment accounted for the largest market share in 2025, owing to the rapid expansion of quick-service restaurants, cloud kitchens, and full-service dining establishments worldwide.

• The synthetic refrigerants (HFCs, HCFCs) segment accounted for the largest market share in 2025, owing to their widespread availability, proven reliability, and established infrastructure across commercial refrigeration systems.

• The retailers segment accounted for the largest market share in 2025, owing to the rising demand for mid-sized commercial refrigeration systems that offer a balance between capacity and energy efficiency.

• The North America commercial refrigeration equipment industry accounted for the largest market share of over 32% in 2025, primarily driven by the mature retail industry and the availability of major supermarket chains, such as Walmart, Costco, Kroger, Publix, etc., in the region.

Commercial Refrigeration Equipment Market Segmentation

Grand View Research has segmented the global commercial refrigeration equipment market on the basis of product, application, system type, refrigerant, capacity, distribution channel, and region:

Commercial Refrigeration Equipment Product Outlook (Revenue, USD Million, 2021 - 2033)

• Transportation Refrigeration Equipment

  • Trailers

  • Trucks

  • Shipping Containers

• Refrigerators & Freezers

  • Walk-in-Refrigerators

  • Reach-in Refrigerators

  • Chest

• Beverage Refrigeration

• Display Showcases

  • Ice Cream Cabinets

  • Bakery/Deli Display

  • Others

• Ice Merchandisers & Ice Vending Equipment

• Other Equipment

Commercial Refrigeration Equipment System Type Outlook (Revenue, USD Million, 2021 - 2033)

• Self-contained

• Remotely Operated

Commercial Refrigeration Equipment Capacity Outlook (Revenue, USD Million, 2021 - 2033)

• Less than 50 cu. Ft

• 51 to 100 cu. Ft

• More than 100 cu. Ft

Commercial Refrigeration Equipment Application Outlook (Revenue, USD Million, 2021 - 2033)

• Food Service

• Food & Beverage Retail

  • Hypermarkets

  • Supermarkets

  • Convenience Store

  • Specialty Food Store

  • Others

• Hotels and Hospitality

• Pharmaceuticals

• Healthcare

• Biotechnology

• Chemicals

• Others

Commercial Refrigeration Equipment Refrigerant Outlook (Revenue, USD Million, 2021 - 2033)

• Synthetic Refrigerants (HFCs, HCFCs)

• Natural Refrigerants

  • Carbon Dioxide (CO2)

  • Ammonia (NH3)

  • Others

Commercial Refrigeration Equipment Distribution Channel Outlook (Revenue, USD Million, 2021 - 2033)

• OEMs (Original Equipment Manufacturers)

• Distributors and Wholesalers

• Retailers

Commercial Refrigeration Equipment Regional Outlook (Revenue, USD Million, 2021- 2033)

• North America

  • U.S.

  • Canada

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

• Latin America

  • Brazil

  • Mexico

• Middle East & Africa

  • Saudi Arabia

  • South Africa

List of Key Players in the Commercial Refrigeration Equipment Market

• AHT Cooling Systems GmbH

• Carrier.

• Daikin Industries Ltd.

• Dover Corporation

• Electrolux AB

• Ali Group

• Hussmann Corporation

• Illinois Tool Works Inc.

• Johnson Control

• Lennox International Inc.

• Whirlpool Corporation

• Panasonic Corporation