The net valuation of the total sales of refrigeration coolers in 2022 reached USD 3,567.2 million. With a CAGR of 5.6%, the refrigeration coolers market may worth USD 6,409.7 million by 2033.
The growing requirement for food and beverage, meat and poultry processing, and refrigerated warehouses is propelling the demand for refrigeration coolers. Demand for walk-in cooler refrigeration has increased due to changing lifestyles and rising urbanization. Resulting in an increased need for commercial refrigeration coolers.
The demand for smart refrigeration coolers has also increased. As cold storage chain logistics and transportation have increased with surging demand for packaged food products. In addition, the sales of refrigeration cooler units to store and cool prepared food has increased as the cloud kitchen concept is growing fast.
Due to difficulty in component procurement and supply chains during the pandemic years, the overall market faced a brief period of downturn. However, the rise in online grocery and frozen food shopping during the pandemic prompted e-commerce companies to invest more in refrigerated warehouses and cold storage.
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Key Takeaways from the Market Study Report
- The United States refrigeration cooler market leads the global market and contributed a revenue share of 18.4% in 2022.
- Global industry participants are seeing rising competition from industries based in China, which is projected to grow at 6.3% through 2033.
- During the forecast years, India is anticipated to witness a CAGR of 6.8% in sales of refrigeration coolers. The increasing demand for refrigerated cooling units from both commercial and industrial end users is shaping this lucrative market growth rate.
- During the projected period, the commercial applications of refrigeration coolers are expected to constitute the leading segment in the global market. Currently, this segment accounts for almost 61% of the global market share.
Key Players in the Industry:
- Johnson Controls International plc. (Ireland)
- Lu-Ve SPA (Italy)
- Lennox International (United States)
- Kelvion Holding GmbH (Germany)
- Rivacold SRL (Italy)
- H. Güntner Limited (Italy)
- Refrion SRL (Italy)
- Evapco, Inc. (United States)
- Stefani SPA (Italy)
- Onda SPA (Italy)
- Emerson Electric Co (United States)
- Roen Est. Group (Italy)
- KFL SRL (Italy)
- Walter Roller (Germany)
- CABERO (Germany)
- Thermofin (Canada)
- Thermokey SPA (Italy)
- Koxka (Spain)
- Modine Manufacturing Co. (United States)
- Centauro International (Portugal)
- Daikin Industries, Ltd (Japan)
- Friterm A S (Turkey)
- Carrier and Danfoss A/S (Denmark)
Recent Developments by the Refrigeration Coolers Industries
Over the forecast years, evaporators and air coolers are expected to hold a significant market share for refrigeration cooler component manufacturing industries. Better and more inventive components are driving enormous growth in commercial and industrial applications.
Modern computerized refrigerated cooling systems are adaptable enough for big retail sites as well as industrial cold storage applications. However, the necessity for regular upkeep and technical issues emerging from a lack of proper maintenance is a fundamental market limitations.
Key Segments Covered by Refrigeration Coolers Industry Survey Report
By Product Type:
- Deep Freezers
- Bottle Coolers
- Display Showcases
- Storage Water Coolers
- Commercial Kitchen Refrigeration
- Transportation Refrigeration Equipment
- Ice Merchandisers & Ice Vending Equipment
- Medical Refrigeration
- Chest Refrigeration
- Other Product Types
By Application:
- Commercial Refrigeration
- Food & Beverage Distribution and Retail Stores
- Convenience Stores and Mini Markets
- Supermarket and Hypermarkets
- Hospitals and Drug Stores
- Other Retail Stores
- Industrial Refrigeration
- Refrigerated Warehouses
- Fruit & Vegetable Processing
- Beverage Processing
- Dairy & Ice-cream Processing
- Meat, Poultry, & Fish Processing
- Other Special Applications
By Component Type:
- Evaporators & Air Coolers
- Air Units
- Dry Coolers
- Brine Coolers
- Blast or Tunnel Unit coolers
- Condensers
- Evaporative Condensers
- Air-Cooled & Water-cooled Condensers
By System Type:
- Self-contained Refrigerator
- Remotely Operated Refrigerator
By Capacity:
- Less than 50 cu. Ft
- 50 cu. Ft to 100 cu. Ft
- More than 100 cu. Ft
By Refrigeration Coolant Type:
- Hydro Fluorocarbon (HFC) or Hydro Fluoroolefin (HFO)
- Ammonia (NH3) Refrigerant
- Carbon Dioxide (CO2) Refrigerant
- Glycol Refrigerant
- Other Coolants or Refrigerants
By Regional Markets:
- North America
- Europe
- Latin America
- East Asia
- South Asia & Pacific
- The Middle East and Africa
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Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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