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 telescopic masts 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.
Scope of Report:
| Attribute | Details |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD million for Value and Units for Volume |
| Key Regions Covered | North America, Latin America, Europe, The Middle East & Africa, East Asia, South Asia and Oceania |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, Spain, Italy, France, United Kingdom, Russia, China, India, Australia & New Zealand, GCC Countries, and South Africa |
| Key Segments Covered | By Product Type, By Application, By Component Type, By System Type, By Capacity, By Refrigeration Coolant Type, and By Region |
| Key Companies Profiled |
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| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
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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.