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Commercial refrigeration figures and trends

Growing steadily for several years, the global commercial refrigeration market is characterised by some key trends, including the  energy efficiency and smart stores 

According to JARN (1), the value of the global commercial, industrial and transportation refrigeration market in 2022 reached USD 112.1 billion , including services such as installation and maintenance, marking an increase of about 4% compared to 2021. 

  

Of this total, the commercial refrigeration sector amounted to USD 71.2 billion, the industrial sector for USD 34.8 billion and transportation for USD 6.0 billion. 

 

Geographically, and focusing on commercial refrigeration equipment sales, North America was the largest market (35.6%), followed by Asia (25.8%) which overtook Europe (22.5%) to become the second largest market. Other regions respresented 16.1% of the global market.  

Within commercial refrigeration equipment (46.5 billion USD), the refrigerated display cabinet segment had by far the largest share (49.6%) ahead of refrigerators, freezers and condensing units (16.1%) and beverage coolers (12.7%). 

 

The main trends in commercial refrigeration are as follows: 

 

  • In countries such as the United States, Japan and European countries, hypermarkets and large retailoutlets seem to have reached a peak, while supermarkets and generally smaller outlets are on the increase; this is particularly the case in large cities due to changes in consumer habits or traffic constraints or restrictions. 
  • Energy-saving technologies, and particularly inverter technology, are attracting more attention, especially in the context of rising electricity prices. 
  • Many big players in the commercial sector have developed strategic plans for smart/digital stores, and have also created their own brands in the cold chain field. They aim to achieve comprehensive management of cold chain product freshness by using the Internet of Things (IoT), artificial intelligence (IA)* and the cloud, and thereby differentiate themselves from their competitors.  This also allows them to meet the food safety requirements expressed by more and more consumers in developed economies. 
  • The demand for frozen foods will continue to grow, especially in developed economies where consumers are keen on nutritious, ready-to-eat and quick-to-prepare meals. This trend is particularly noticeable in Japan, which is the third largest consumer market for frozen products in the world and the largest consumer market in Asia. It can also be observed in several countries in Southeast Asia, where the younger generations have changed their eating habits.

 

(1) JARN Special issue, September 2023 

 

* Consult IIR Informatory Note " Use of Internet of Things and Artificial Intelligence in Refrigeration and Air Conditioning ». Link.