The refrigeration equipment market opportunities lie in adopting IoT, AI, and cloud for smart systems, focusing on energy efficiency and compliance with environmental regulations. Companies should emphasize sustainable designs, digital capabilities, and strategic alliances to meet evolving demands driven by climate change, urbanization, and health concerns.
Dublin, Dec. 22, 2025 (GLOBE NEWSWIRE) -- The "Refrigeration Equipment Market, Global, 2025-2030" report has been added to ResearchAndMarkets.com's offering.
The revenue estimate for the base year 2024 is $67.06 billion with a CAGR of 8.7% for the study period 2024-2030.
This report examines these shifts shaping the global refrigeration market. It analyzes the factors driving and restraining growth in this space and identifies the growth opportunities emerging from the changes for market players and stakeholders to leverage. The base year is 2024, and the forecast period is from 2025 to 2030.
The refrigeration equipment market is in a new era, fueled by disruptive technologies, transformative megatrends, and competitive intensity. With the increasing cost of energy and the stricter environmental regulations, the Internet of Things (IoT), artificial intelligence (AI), and cloud computing are making refrigeration systems smarter and more efficient. These technologies facilitate predictive maintenance, remote monitoring, and data-driven optimization, in line with the sustainability objectives and energy crisis management strategies of many economies.
Simultaneously, climate change, urbanization, and health issues are redefining market demand, exacerbating the need for compact, low-emission, and intelligent cooling solutions. Competitive intensity is forcing firms to innovate with an emphasis on energy efficiency, green technologies, and localized products and services. In this scenario, market participants need to invest in sustainable product design, digital capabilities, and flexible service models to remain ahead of the competition. Those who adopt smart and connected refrigeration solutions and make strategic alliances will lead the market. The future of refrigeration lies in active innovation, regulatory compliance, and the adoption of environmentally friendly technologies.
Refrigeration equipment market includes a wide range of systems used for achieving controlled temperature conditions for storage, preservation, and transportation of perishable commodities in residential, commercial, and industrial segments. Refrigeration equipment is an essential part of the world cold chain infrastructure.
In this study, refrigeration equipment from original equipment manufacturers (OEMs) includes walk-in freezers and coolers, refrigerated vending machines, refrigerated display cases, industrial process chillers, reach-in refrigerators, and cold rooms. There is no further segmentation by refrigeration equipment type. This study excludes residential and transportation refrigeration systems.
The analyst segments this market by end user and regions, as defined in the following slides. Revenue is calculated at the manufacturer (OEM) level. The growth in demand for refrigeration equipment is primarily being driven by the rise in consumption of frozen and chilled foodstuffs, growing urbanization, and expanding hospitality and retail industries. Advances in energy efficiency, low-global warming potential (GWP) refrigerants, and digital monitoring systems are also on the horizon to drive market growth.
Regulatory requirements on food safety, emission savings, and phase downs of refrigerants (such as the Kigali Amendment and F-gas regulations) are forcing end users and OEMs to invest in sustainable and environmentally friendly refrigeration technologies.
The Impact of the Top 3 Strategic Imperatives on the Refrigeration Equipment Industry
Disruptive Technologies
Why: As electricity prices soar and sustainability regulations tighten, the refrigeration industry is moving into a new era with the interventions of internet of things (IoT) and artificial intelligence (AI).
Analyst Perspective: The new generation of refrigeration equipment will be better aligned with sustainability aspirations and energy crisis management.
Transformative Megatrends
Why: Climate change, urbanization, high energy costs, and health concerns are reshaping the refrigeration market, driving demand for more energy-efficient and sustainable systems.
Analyst Perspective: To stay competitive, companies must prioritize sustainable product design and build digital capabilities that address evolving regulatory and customer expectations.
Competitive Intensity
Why: The high level of competition in the refrigeration industry is encouraging companies to develop new ideas faster, mainly focusing on energy savings, localization, and using green technologies.
Analyst Perspective: Instead of focusing on refrigeration functions and features only, companies are now investing in smart and connected solutions, regional offerings, and innovative after-sales services.
Competitive Environment
Number of Competitors: Over 100
Competitive Factors: Product energy efficiency, reliability, refrigerant compliance, price-performance ratio, after-sales service, innovation in automation/smart control systems, and global distribution reach
Key End-User Industry Verticals: High growth rates from end users in hospitality, cold storage, and pharmaceuticals
Leading Competitors: Carrier Global Corporations, Johnson Controls, Trane Technologies, Daikin Industries, Ingersoll Rand
Revenue Share of Top 5 Competitors (2024): 25.2%
Other Notable Competitors: Dover Corporation, Lennox International, GEA Group, Honeywell
Distribution Structure: Direct Sales (20%) and Indirect Sales (80%)
Notable Mergers and Acquisitions: In May 2024, Samsung and Lennox announced the formation of a joint venture named Samsung Lennox HVAC North America. This partnership focuses on selling ductless mini-split, air conditioning, heat pump, and VRF systems in the United States and Canada.
Scope of Analysis
Geographic Coverage: Global (Europe, North America, Asia-Pacific [APAC], Middle East and Africa [MEA], Latin America [LATAM])
Study Period: 2022-2030
Base Year: 2024
Forecast Period: 2025-2030
Monetary Unit: US Dollars
Key Topics Covered:
Research Scope
Scope of Analysis
Segmentation by End User
Segmentation by Region
Growth Environment: Transformation in Refrigeration Equipment
Why is it Increasingly Difficult to Grow?
The Strategic Imperative 8
The Impact of the Top 3 Strategic Imperatives on the Refrigeration Equipment Industry
Ecosystem in Refrigeration Equipment
Value Chain
Competitive Environment
Key Competitors
Growth Generator in Global Refrigeration Equipment
Growth Metrics
Growth Drivers
Growth Drivers Analysis
Growth Restraints
Growth Restraints Analysis
Forecast Considerations
Revenue Forecast
Revenue Forecast Analysis
Revenue Forecast by Region
Revenue Forecast Analysis by Region
Revenue Forecast by End User
Revenue Forecast Analysis by End User
Revenue Share
Revenue Share Analysis
Mergers and Acquisitions
Major Product or Refrigerant Launches
Refrigerant Regulations
Growth Opportunity Universe
Growth Opportunity 1: Sustainable Refrigeration Technologies
Growth Opportunity 2: Natural Refrigerants
Growth Opportunity 3: Predictive Refrigeration Powered by AI and IoT
Growth Opportunity 4: Cold Chain Infrastructure
Companies Featured
AHT Cooling Systems
Air Liquide
Arctic Refrigeration
Bitzer
Carrier Global Corporation
Clivet (Midea Group)
CoolTech
Daikin Industries
Danfoss
Dover Corporation
Ebara Corporation
Electrolux
Embraco (Nidec Corporation)
Emerson Electric
EPTA
FRICK by Johnson Controls
Frigomec
Fujitsu General
Gea Group
Gree Electric Appliances
Haier Smart Home
Hisense Group
Hitachi
Honeywell
Hoshizaki Corporation
Illinois Tool Works
Ingersoll Rand
Johnson Controls
KTI
Lennox International
LG Electronics
Liebherr-International
Midea Group
Mitsubishi Electric
Panasonic
Pro Refrigeration
Rime Group
Samsung Electronics
Sanden Corporation
Sanden HoldingS
Schneider Electric
Thermo King by Trane Technologies
Trane Technologies
Whirlpool Corporation
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