COMMERCIAL REFRIGERATION EQUIPMENT MARKET ANALYSIS

Regional Analysis

Global Commercial Refrigeration Equipment Market - Regional Analysis

Figure 1. Global Commercial Refrigeration Equipment Market Share (%), By Region, 2022

North America is expected to hold a market share of 36% by 2030, considering its dominance of 31% market share in 2022. The top producers of industrial/commercial refrigeration are Excellence Industries, Illinois Tool Works Inc., Lennox intl. Ltd, Standex intl Co. The fastest growing region, forecasted to continue growing at a rapid rate, is the APAC region, due to the growth and development of economies such as China and South Korea.

The market for Commercial Refrigeration Equipment is increasing in Europe due to rising trend of technologically advanced buildings. These buildings also include malls, supermarkets and hypermarkets which shall require cold storage and refrigeration equipment alternatives for storage of frozen foods.

In Latin America, the growth for the market is gradual due to steady construction of new commercial and recreational structures.

Also the growing rate of urbanization is leading towards greater use of refrigeration equipment across Middle East and African countries as well. External companies are also investing large sums of monies resulting in the growth of the commercial sector.

• North America: U.S. and Canada
• Europe: Germany, U.K., France, Italy, Russia, and Rest of Europe
• Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
• Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
• Middle East & Africa: GCC Countries, South Africa, and Rest of Middle East & Africa