Commercial refrigerators and freezers are large-scale cooling units designed for use in businesses such as restaurants, supermarkets, hotels, cafeterias, and food processing facilities. They are built to store perishable goods at controlled temperatures to ensure food safety, quality, and freshness.

According to the new market research report “Commercial Refrigerators & Freezer- Global Market Share and Ranking, Overall Sales and Demand Forecast 2025-2031”, published by QYResearch, the global Commercial Refrigerator and Freezer market size is projected to reach USD 25.72 billion by 2031, at a CAGR of 3.1% during the forecast period.

Figure00001. Global Commercial Refrigerator and Freezer Market Size (US$ Million), 2025 VS 2031

Source: QYResearch, "Commercial Refrigerators & Freezer- Global Market Share and Ranking, Overall Sales and Demand Forecast 2025-2031”

Figure00002. Global Commercial Refrigerator and Freezer Top 25 Players Ranking and Market Share (Ranking is based on the revenue of 2024, continually updated)

Source: QYResearch, "Commercial Refrigerators & Freezer- Global Market Share and Ranking, Overall Sales and Demand Forecast 2025-2031”

According to QYResearch Top Players Research Center, the global key manufacturers of Commercial Refrigerator and Freezer include Haier, Carrier Commercial Refrigeration, Epta SpA, Panasonic, Zhejiang Xingxing, Dover Corporation, Hoshizaki International, Fukushima Galilei, Ali Group, Ugur Cooling, etc. In 2024, the global top five players had a share approximately 33.0% in terms of revenue.

In terms of product type, currently Refrigerated Display is the largest segment, hold a share of 61.8%.

In terms of product application, currently Supermarkets and Stores is the largest segment, hold a share of 55.5%.

Market Drivers:

The commercial refrigerator and freezer market is driven by multiple factors. The rapid growth of the foodservice industry, including restaurants, hotels, cafes, and catering services, fuels demand for reliable and efficient refrigeration solutions to store perishable food items safely. Increasing consumer preference for fresh and frozen foods along with the expansion of supermarkets and grocery stores further propels market growth. Additionally, the rising trend of online grocery shopping and food delivery services increases the need for cold storage solutions that maintain product quality during transit and storage. Regulatory mandates on food safety and hygiene standards also drive businesses to upgrade their refrigeration equipment.

Restraint:

The commercial refrigerator and freezer market faces several challenges that could restrain its growth. One major constraint is the high upfront cost of advanced refrigeration equipment, especially those featuring energy-efficient technologies and smart systems, which may be prohibitive for small and medium-sized enterprises. Additionally, the high energy consumption associated with commercial refrigeration units leads to significant operating costs, deterring some businesses from upgrading or expanding their cold storage capacities.

Opportunity:

The commercial refrigerator and freezer market presents significant growth opportunities driven by evolving consumer preferences and technological advancements. The increasing demand for fresh and frozen food products, coupled with the expansion of supermarkets, hypermarkets, and convenience stores globally, creates a robust market for advanced refrigeration solutions. Growing trends such as online grocery shopping, food delivery services, and ready-to-eat meals further amplify the need for efficient cold storage and transportation. Technological innovations, including the integration of IoT-enabled smart monitoring systems, energy-efficient compressors, and eco-friendly refrigerants, offer manufacturers opportunities to develop sustainable and cost-effective refrigeration units that appeal to environmentally conscious customers.