The commercial walk-in freezer market size is estimated to be valued at USD 691.68 million in 2023 and is projected to reach USD 1,105.40 million by 2033, growing at a CAGR of 4.8% from 2023 to 2033.
The key factors supporting the growth of the commercial walk in freezer market are:
To prevent the growth of germs, certain refrigeration equipment is designed to quickly reduce the temperature of hot food from around 90 degrees Celsius to as low as 30 degrees Celsius. To store and preserve the ingredients for making meals, these establishments use commercial walk in freezers. Keeping frozen and processed foods and drinks for later sale is another application for it in the food and beverage retail sector. To ship frozen, processed goods throughout the globe, commercial walk in freezers are also widely used in the food and beverage distribution sector.
Commercial walk in freezers is being overused due to the rise in the import and export of packaged foods. The demand for seafood processed meals, and frozen goods to be refrigerated has increased along with notable growth in international food traffic. Due to ongoing innovation, the industry has witnessed quick improvements in technologies like liquid-vapor compression and ammonia absorption systems. The energy efficiency of commercial walk in freezers has dramatically increased during the previous five years.
The advent of innovative and inventive commercial walk in freezer products has been made possible by improvements in product design, refrigerants, and overall energy usage throughout time (such as multi-deck display cabinets and open-front refrigerated cases). The lack of doors gives these products better temperature stability and a better aesthetic appeal in addition to higher energy efficiency.
Commercial walk-in freezer demand has increased, which is attributed to a surge in consumer demand for frozen and chilled goods as a result of changing lifestyles and expanding urbanization. Additionally, a notable expansion of the organized retail sector, such as an increase in the number of supermarkets and hypermarkets, boosts total sales of commercial refrigerators, spurring the market's expansion.
| Attribute | Details |
|---|---|
| Commercial Walk in Freezer Market Value (2023) | USD 691.68 million |
| Commercial Walk in Freezer Market Forecast Value (2033) | USD 1,105.40 million |
| Commercial Walk in Freezer Market CAGR (2023 to 2033) | 4.8% |
| USA Commercial Walk in Freezer Market Size (2033) | 213.86 million |
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Natural refrigerants are frequently utilized globally for environmental sustainability. Furthermore, it has been observed that older commercial walk-in freezer technology was less effective than it is now. This equipment is getting more efficient and saves a lot of energy as a result of the usage of LED lighting systems, high-performance glass doors, and high-efficiency motors, which is considered a crucial factor in propelling the expansion of the commercial walk in freezer market globally. The global market for commercial walk-in freezers is growing exponentially due to rising disposable income in both developed and developing countries, as well as rising demand for ready-to-eat meals and other goods including eggs, milk, and meat.
The most significant application for the global commercial walk in freezer market has always been food service. Equipment for commercial walk-in freezers is in higher demand across all application fields. But among all of these categories, the food service application sector has been the most significant, and it is anticipated that it is likely to continue to lead the industry's growth.
The high energy consumption of this system has also been noted to prevent small firms from using it, which is expected to restrain the growth of the commercial walk-in freezer market globally. So, these are some major factors that are preventing this market's expansion. The commercial walk-in freezer market has been significantly impacted by COVID-19. Operations have been suspended, production and demand have declined, and supply has been impacted.
Manufacturers have all reduced capital, spending, and capacity by 30 to 50 percent. The labor shortage is one of the main causes of the decline. Production has decreased on a global scale. The demand for commercial walk-in freezer equipment has decreased as a result of consumers' caution while making new purchases.
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With a share of 5.6%, the self-contained walk in freezers segment is anticipated to dominate the commercial walk in freezer market. Self-contained walk-in coolers and freezers have several benefits, including being more portable, and handy, and requiring less maintenance and servicing. During the projection period, the market for walk-in coolers and freezers will continue to develop due to the rising use of self-contained walk-in coolers and freezers for longer-term food storage.
Remote condensing units are anticipated to see the fastest sales increase over the projected period. Plug cases and remote instances are further split into the display cases category. Plug-in cases have made up a higher portion of the global display case market than remote cases. During the anticipated timeframe, it is also anticipated that the market expansion of commercial walk-in freezers is anticipated to be stronger.
In 2022, the North American commercial walk in freezer market is led by the United States, with a share of 25.7%. With a CAGR of 3.7%, the USA is anticipated to continue to be the most lucrative market for commercial walk-in freezers holding a share of USD 213.86 million by 2033. Sales of commercial walk in freezers in the United States are likely to be aided by the presence of established retail sectors, increased hotel development, rising demand for commercial walk in coolers, and the presence of major market participants.
In restaurants or at home, a significant portion of Americans eats frozen meals. The American Frozen Food Institute (AFFI) estimates that retail sales of frozen food increased by 21% to about USD 65.1 billion in 2020. The market for commercial walk in freezers is expanding favorably across the nation as a result.
To preserve the best possible condition for frozen and refrigerated goods, the majority of restaurants and commercial kitchens in the USA feature well-maintained commercial walk-in freezers and coolers. Additionally, expanding use of portable commercial walk in freezers, in addition to conventional ones, in the pharmaceutical and clinical research industries, as well as rising food product sales through online channels, is projected to assist the expansion of the USA commercial walk in freezer market.
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Europe's commercial walk in freezer market generated USD 5.81 billion in 2020 as the retail, healthcare, and food service industries expanded. Additionally, the expansion of bakeries, restaurants, and hotels throughout the United Kingdom, Germany, France, and Italy is likely to promote regional development.
The commercial walk in freezer market in the United Kingdom is predicted to register at a CAGR of 4.6% during the forecast period, reaching 30.37 million by 2033. This is due to customers' strong desire for takeout options and restaurant meals. In addition, the region's expanding non-residential construction activities are probably going to increase demand for commercial walk-in coolers and freezers.
South Korea is anticipated to dominate the Korean commercial walk in freezer market with a CAGR of 5.5% during the forecast period, reaching a valuation of USD 48.44 million by 2033.
Governments in South Korea are making significant investments in the retail sector, which is anticipated to support market growth. As an example, the largest retailer in the world, Wal-Mart Stores Inc., committed nearly USD 179 million to acquire a majority stake in four and six-store locations in South Korea. This move is likely to accelerate the expansion of the commercial walk in freezer market throughout the forecast period. Therefore, it is projected that the rising number of retail establishments across the highly developing nations is anticipated to fuel market expansion.
According to FMI, the Japan commercial walk in freezer market is anticipated to rise at a CAGR of 6.0% during the forecast period, reaching USD 35.28 million by 2033. The increase in the use of indoor and outdoor commercial walk in freezers by a variety of industries, including food & beverage, healthcare, and chemicals, is responsible for the country's growth. Food preservation has become essential to support such a large population.
Throughout the projection period, Japan is anticipated to expand considerably, mostly as a result of factors including steady employment rates, improving economic conditions, growing gross disposable income, and increased expenditure on leisure activities like traveling and dining out.
One of the primary objectives of Arctic Walk in Coolers & Walk in Freezers is to increase the penetration of their products into the commercial refrigeration sector. To increase its sales around the globe, the firm is also implementing several marketing methods, including flexible production with the most space possible and custom-made items. For instance, the business provides walk-in coolers with bespoke shelving for beverage, culinary, and flower applications. This is projected to make it easier for its walk-in goods to enter an untapped market.
Arctic Walk in Coolers & Walk in Freezers is offering a quick-ship COVID-19 vaccine cold storage solution as of November 2020. The walk-in freezers and coolers made by the firm are designed to -40° C for vaccinations that need to be frozen.
To broaden its expertise in commercial refrigeration for the benefit of clients, Viessmann acquired IAC Vestcold AS (a refrigeration and service partner in Norway) in June 2019.
Key players in the commercial walk in freezer market are leaning toward offering effective and dependable specialized commercial refrigeration equipment for a variety of applications, including restaurants, cold storage facilities, restaurants, and floral storage. It is so because each industrial application calls for a distinct product depending on the amount of available space, and equipment like commercial walk-in refrigerators is specially intended to promote convenience and ease of use for applications.
Custom walk-in freezers and coolers are becoming more popular because they offer greater versatility than stand-in coolers and freezers do. Bilt2spec commercial walk in freezers are offered by manufacturers like Master-Bilt Products, LLC, and are custom-made to accommodate practically any size or form.
Top companies in the commercial walk in freezer markets like Viessmann, Danfoss A/S, and others have well-established subsidiaries that are greatly enhancing market penetration in China. For instance, Beijing Viessmann Heating Technology Co., Ltd., a Chinese affiliate of Viessmann, offers cutting-edge freezers with assembly and central refrigeration designs.
Whirlpool Corporation announced in November 2021 that it will invest more than USD 65 million over the following several years in its manufacturing in Ottawa, Ohio, to make it the Premium Refrigeration Factory in North America. The firm will enlarge its Ottawa facility as part of this strategic drive to support the production of high-end refrigeration goods, such as Built-In refrigerators (BIR).
To control the market, they have used a variety of organic and inorganic techniques, including mergers, partnerships, collaborations, the development of new products, and acquisitions.
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD billion for Value and Units for Volume |
| Key Regions Covered | North America; Latin America; Europe; Asia Pacific; Oceania; Middle East and Africa (MEA) |
| Key Countries Covered | India, The USA, Germany, China, The United Kingdom, Japan, Denmark, Canada, Thailand, Malaysia, Mexico, Poland, Turkey, Vietnam, Indonesia, Cambodia, France, Italy, Spain, South Korea, Russia, Australia, Brazil, Argentina, South Africa |
| Key Segments Covered | Technology, Door Type, Mounting type, Sales Channel, Region |
| Key Companies Profiled | SRC Refrigeration; Parker Hannifin Corp.; TMP Manufacturing Company; Panasonic Corporation; American Panel Corporation; Others |
| Report Coverage | DROT Analysis, Market Forecast, Company Share Analysis, Market Dynamics and Challenges, Competitive Landscape, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The commercial walk in freezer market is valued at USD 660.00 million in 2022.
The commercial walk in freezer market is projected to reach USD 1,105.40 million by 2033.
Demand for a commercial walk in freezer is expected to increase at a CAGR of 4.8% through 2033.
The United States commercial walk in freezer market is valued at USD 213.86 million by 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Technology 5.1. Self-Contained 5.2. Remote Condensing 5.3. Multiplex Condensing 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Door Type 6.1. Hinged 6.2. Power Sliding 6.3. Manual Sliding 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Mounting Type 7.1. Floor 7.2. Non-Floor 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Sales Channel 8.1. Original Equipment Manufacturer 8.2. Aftermarket 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 9.1. North America 9.2. Latin America 9.3. Europe 9.4. East Asia 9.5. South Asia 9.6. Oceania 9.7. Middle East and Africa (MEA) 10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 17. Key Countries Market Analysis 18. Market Structure Analysis 19. Competition Analysis 19.1. SRC Refrigeration 19.2. Parker Hannifin Corp 19.3. TMP Manufacturing Company 19.4. Panasonic Corporation 19.5. American Panel Corporation 19.6. Other (as per requirement) 20. Assumptions & Acronyms Used 21. Research Methodology
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Commercial Walk in Freezer Market
