The United States walk-in cooler and freezer industry size reached USD 2,912.0 million in 2023. Over the forecast period, demand for walk-in coolers and freezers in the United States is projected to rise at a 5.2% CAGR.
The total value in the United States is predicted to increase from USD 3,049.9 million in 2024 to USD 5,081.6 million in 2034.
Demand for walk-in coolers and freezers is projected to remain high in the food service segment. The latest walk-in cooler and freezer industry analysis shows the target segment will expand at 4.0% CAGR during the forecast period.
| Attributes | Key Insights |
|---|---|
| Base Value (2023) | USD 2,912.0 million |
| Estimated United States Walk-in Cooler and Freezer Industry Value (2024) | USD 3,049.9 million |
| Projected United States Walk-in Cooler and Freezer Industry Revenue (2034) | USD 5,081.6 million |
| Value-based CAGR (2024 to 2034) | 5.2% |
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Revenue in the United States to Expand Nearly 1.7X through 2034
The walk-in cooler and freezer industry revenue in the United States is poised to expand around 1.7X through 2034, amid a 3.0% surge in expected CAGR compared to the historical one. This is due to the growing demand for walk-in coolers and freezers in diverse industries, including food and beverage and pharmaceutical/biotechnology.
Other Factors Driving Walk-in Cooler and Freezer Industry in the United States:
United States Walk-in Cooler and Freezer Industry Trends-
South United States to Remain Hotbed for Walk-in Cooler Manufacturers
As per the latest analysis, the South United States is expected to create lucrative revenue generation opportunities for walk-in cooler and freezer manufacturers during the forecast period. It is set to hold around 36.8% of the United States industry share in 2034. This is attributed to the following factors:
Sales of Walk-in Coolers to Outpace those of Walk-in Freezers
As per the report, walk-in coolers are expected to dominate the United States industry, holding a volume share of about 65.7% in 2024. This is attributable to the rising usage of walk-in coolers for refrigeration due to their effective, inexpensive, quick, and easy-to-use nature.
In the United States, walk-in coolers are preferred over walk-in freezers. This is due to their inexpensive nature and less energy consumption. These refrigeration solutions are suitable for storing items like fresh produce, prepared foods, and dairy products.
Due to variations in insulation needs and refrigeration systems, walk-in coolers often have cheaper prices than walk-in freezers. Since walk-in coolers don't require as much insulation or precise temperature control as freezers, their installation is usually simpler.
The service charges for walk-in coolers are often lower as well, as the equipment is subject to less strain and wear and tear compared to freezers. Growing demand for walk-in coolers in facilities where keeping a temperature that prevents perishable items from going too low is essential will likely boost the segment.
Walk-in coolers are frequently used in the food service business, which includes grocery shops, restaurants, and catering services. They allow end users to keep fresh fruits and other commodities that need to be refrigerated but not frozen.
Walk-in coolers can be a cost-effective and simplified alternative to walk-in freezers for industries such as pharmaceuticals, florist shops, and certain industrial processes that require temperature control. High usage in these industries is expected to create opportunities for walk-in cooler manufacturers.
Walk-in coolers and freezers have become essential components across establishments like hotels, restaurants, research labs, and supermarkets. They are widely used for cooling and freezing various products, including beverages, food, fruits and vegetables, meat, chemicals, and pharmaceuticals.
The growing adoption of walk-in freezers and coolers for preserving food and other temperature-sensitive products is set to boost industry growth across the United States. Similarly, the rising need for reducing food waste will uplift the demand for walk-in cooler and freezer products.
Key companies are looking to develop smart and energy-efficient walk-in coolers and freezers with eco-friendly features. Development of these innovative products with GWP (low global warming potential) will likely facilitate the growth of the walk-in cooler and freezer industry.
The customization trend is gaining immense traction across the United States. End users are inclined to install customized walk-in coolers and freezers to meet their specific requirements. This will bode well for the target industry.
The booming food and beverage industry is another key factor expected to drive demand for walk-in coolers and freezers. These effective refrigeration solutions are increasingly employed in food-related establishments such as restaurants, lodging facilities, supermarkets, etc.
Stricter laws governing food safety and storage will also increase demand for advanced walk-in freezers and coolers that can maintain hygienic conditions as well as suitable temperature control. This will boost overall revenue across the United States.
Refrigerants with lower global warming potential are becoming increasingly popular in the industry, indicating a move towards sustainability. This shift towards eco-friendly refrigerants is expected to help companies woo eco-conscious customers.
Integration with all-inclusive solutions for inventory management is becoming more common, allowing for real-time tracking and maximizing operational effectiveness. Businesses may now keep a variety of items at optimal temperatures in a single unit due to the growing popularity of dual-temperature zones as flexible storage options.
Another key factor expected to fuel sales of walk-in coolers and freezers is the rising adoption across the pharmaceutical and biotechnology sectors. The biotechnology industry receives significant financing, which drives developments and makes reliable walk-in coolers and freezers for storage necessary.
The retail sales growth in alcoholic beverages prompts the need for more advanced cooling systems. This will likely elevate the demand for walk-in coolers as they provide a vital solution for preserving product quality.
Principal Consultant
Sales of walk-in coolers and freezers in the United States grew at a CAGR of 2.3% between 2019 and 2023. Total revenue reached about USD 2,912.0 million in 2023. In the forecast period, the walk-in cooler and freezer industry is projected to exhibit a CAGR of 5.2%.
| Historical CAGR (2019 to 2023) | 2.3% |
|---|---|
| Forecast CAGR (2024 to 2034) | 5.2% |
The industry growth trajectory during the historical period was supported by the increased focus on temperature-sensitive deliveries, flexible storage options, and vital functions that walk-in coolers and freezers play in a variety of sectors. These factors all contributed to the adoption of these products.
The COVID-19 pandemic played a key role in driving demand for walk-in coolers and freezers during the historical timeframe. These cooling and refrigeration solutions were widely used to store vaccines, medications, and other critical medical supplies, emphasizing their indispensable role in times of crisis.
The United States walk-in cooler and freezer industry is set to exhibit steady growth, totaling a valuation of USD 5,081.6 million by 2034. This is due to a combination of several factors, including expansion of the food and beverage industry, rising demand for effective refrigeration solutions, and technological advancements like the incorporation of energy-efficient features.
The growing popularity of transportation walk-in cooler and freezer systems will likely create new avenues for expansion. These reliable and efficient cold storage are expected to witness high demand, especially due to the increasing need for temperature-sensitive deliveries and the growing requirement for additional walk-in coolers in the pharmaceutical industry to meet the stringent storage conditions of pharmaceutical products.
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The United States walk-in cooler and freezer industry is expected to experience steady growth through 2034. This is primarily due to the critical requirement for precise temperature control, with a major emphasis on meeting the stringent standards set to maintain the effectiveness of pharmaceutical products.
The pharmaceutical industry heavily relies on maintaining specific temperature ranges for the storage of medications and vaccines, ensuring their stability and efficacy. This critical need is a driving force behind the escalating demand for advanced cooling solutions like walk-in coolers and freezers, incorporating state-of-the-art temperature control technology.
Advanced cooling solutions, like walk-in coolers and freezers, play a pivotal role in preserving the integrity of pharmaceuticals. Similarly, they find applications in the broader healthcare sector, contributing to a substantial demand.
The continuous expansion of the healthcare infrastructure in the United States further fuels the need for reliable and sophisticated cooling systems. This sustained growth is expected to bolster the overall industry for walk-in coolers and freezers in the region, reflecting the integral role these solutions play in maintaining the integrity of temperature-sensitive healthcare products.
Manufacturers of walk-in refrigeration systems and equipment can receive reimbursements from numerous governmental and non-governmental organizations for using energy-saving and environmentally friendly production practices. This, in turn, can support industry expansion.
Energy Star is a voluntary program run by the Environmental Protection Agency (EPA) and Department of Energy (DOE) in the United States. It provides rebates to individuals and businesses and promotes environmental protection by forming strict energy efficiency standards for walk-in coolers and refrigeration equipment.
The initiative contributes to greater energy independence in the United States by expanding the private sector's supply of renewable energy and reducing energy consumption through increased energy efficiency.
These investments may eventually assist in reducing the cost of electricity for farmers and small-scale industrial users. Such initiatives related to energy efficiency are further expected to boost the demand for walk-in coolers and freezers.
The United States industry for walk-in coolers and freezers is experiencing significant growth, fueled by advancements in biotechnology and life sciences. The continuous evolution of these fields underscores the critical need for precise and efficient cold storage solutions.
The intricate processes involved in biotechnology and the specific storage requirements for life sciences products have led to a growing demand for specialized cooling facilities. This is expected to boost the walk-in cooler and freezer industry during the forecast period.
Innovations in these sectors often involve developing and storing delicate biological materials, pharmaceuticals, and vaccines, necessitating tailored cold storage environments to ensure their effectiveness. Consequently, growing awareness about the importance of reliable and customized cold storage solutions in preserving the integrity of their products will benefit the industry.
The United States walk-in cooler and freezer industry faces challenges primarily related to the operational components of these refrigeration systems. Each unit comprises key elements such as an evaporator, compressor, expansion device, and condenser, working collaboratively to uphold the required temperature range.
A persistent issue in this regard involves frequent compressor failures. This is attributed to the continuous operation of the compressor, a critical aspect of the refrigeration system.
The demand in sectors like restaurants, commercial kitchens, supermarkets, and hypermarket stores leads to a constant opening and closing of the coolers, imposing a substantial load on the compressor. This recurring stress on the compressor emerges as a significant impediment for the industry. Addressing this challenge is crucial for sustaining the efficiency and reliability of these refrigeration systems in diverse applications.
The United States walk-in cooler and freezer industry plays a crucial role in ensuring a seamless and secure cold chain, which is vital for preserving the quality and safety of food products. Commercial refrigeration is indispensable for maintaining the integrity of the cold chain and preventing the proliferation of harmful fungi and bacteria that can compromise food safety.
To uphold food safety standards, the USA. Department of Agriculture has set specific temperature guidelines, mandating that frozen food must be kept at 0°F and refrigerated food at 40°F or lower within commercial establishments. These regulations are essential for preventing the deterioration of food quality during storage and transportation.
The United States government imposes stringent regulations on the use of refrigerants, favoring natural alternatives over fluorochemical-based options in commercial refrigeration systems. Violating these regulations can lead to severe consequences, including fines and other sanctions. This poses a significant challenge for small and medium-sized businesses operating in the industry.
The table below highlights the walk-in cooler and freezer revenue in leading areas across the United States. The South United States and the Northeast United States are expected to remain the top two consumers of walk-in coolers and freezers, with expected valuations of USD 1,730.1 million and USD 1,183.0 million, respectively, in 2034.
| Area | Walk-in Cooler and Freezer Industry Revenue (2034) |
|---|---|
| South United States | USD 1,730.1 million |
| Northeast United States | USD 1,183.0 million |
| West United States | USD 1,180.5 million |
| Midwest United States | USD 987.9 million |
The below table shows the estimated growth rates of the top regions in the United States. Northeast United States and Midwest United States are set to record higher CAGRs of 6.4% and 5.7%, respectively, through 2034.
| Countries | Projected Walk-in Cooler and Freezer CAGR (2024 to 2034) |
|---|---|
| Northeast United States | 6.4% |
| Midwest United States | 5.7% |
| West United States | 5.1% |
| South United States | 4.4% |
The South United States walk-in cooler and freezer industry size is expected to reach USD 1,730.1 million by 2034. Over the assessment period, demand for walk-in coolers and freezers in the South United States is projected to rise at 4.4% CAGR.
Multiple factors are expected to drive walk-in cooler and freezer demand across the South United States through 2023. These include the booming food service and retail sector and the strong presence of leading heating and cooling equipment manufacturers.
The South United States climate, which is distinguished by hot, muggy weather for a significant portion of the year, is creating a need for effective refrigeration systems. This is expected to fuel demand for robust solutions, including walk-in coolers and freezers, that efficiently maintain low temperatures to avoid decomposition and preserve product freshness.
Another important factor affecting the widespread use of walk-in freezers and coolers is storage capacity. With the size of the food service and retail industries, these refrigerated units offer plenty of room for storage, which can handle large orders and make it easier to maintain a steady supply of goods to satisfy consumer demand.
A key aspect in the walk-in cooler and freezer industry is the availability of customization and versatility possibilities. Companies may customize these refrigeration options to meet their own requirements, guaranteeing the best use of available storage capacity.
Walk-in freezers and coolers are growing popular due to their reasonable prices and other benefits. Their durability, energy efficiency, and capacity to handle enormous volumes make them cost-effective in the long run.
Businesses in the South United States find walk-in coolers and freezers essential for effectively growing their operations as the food and hospitality industries see significant expansion. South American desire for these refrigeration systems is a calculated reaction to the temperature, storage requirements, operating demands, and regulatory environment of the area.
As per the latest report, sales of walk-in coolers and freezers in the Northeast United States are projected to soar at a CAGR of around 6.4% during the assessment period. Total valuation in the region is anticipated to reach USD 1,183.0 million by 2034.
Sales will rise particularly in the fast-paced metropolis of New York, with a marked preference for bought units. The Northeast United States’ dense population, fast economic growth, and diversified culinary scene are creating the need for extended refrigeration solutions in food service and retail enterprises.
Purchased walk-in coolers and freezers allow businesses in New York and other large cities to customize their refrigeration solutions based on specific space constraints and operational requirements. The adaptability of these units ensures efficient use of available space, catering to the diverse layouts and configurations of commercial establishments in the urban environment.
As the Northeast United States experiences economic growth and expansion in the food and hospitality sectors, the demand for reliable and scalable refrigeration solutions continues to rise. Walk-in coolers and freezers are becoming a cornerstone in the competitive commercial landscape of Pennsylvania, New York, Massachusetts, and other Northeast United States.
The walk-in cooler and freezer industry value is anticipated to total USD 1,180.5 million by 2034. Over the forecast period, demand for walk-in coolers and freezers in the region is set to increase at a CAGR of 5.1%.
The Western United States, including California, New Mexico, and Arizona, is expected to grow steadily due to increasing indoor unit demand. There are several reasons for this increase, many of which are related to the unique characteristics of the area and the particular needs of companies that operate there.
Businesses in the West United States are giving energy efficiency and sustainability more and more emphasis. Interior units with cutting-edge features like cooling and insulation systems that use less energy support the area's commitment to sustainability while also reducing operating expenses.
Space-efficient solutions are necessary due to urbanization and economic density, particularly in California. Indoor walk-in freezers and coolers fit in well with existing buildings, providing businesses with a space-saving storage option without sacrificing important floor space.
The agricultural landscape of the Western United States is diversified, with California acting as a key hub for food production. Businesses involved in agriculture, food processing, and distribution have different requirements, and indoor walk-in coolers and freezers may meet those demands.
The below section shows the food service segment dominating the walk-in cooler industry. It is forecast to advance at a 4.0% CAGR between 2024 and 2034. Based on usage type, the purchased segment is anticipated to expand at a CAGR of 4.8% through 2034.
| Top Segment (End-use) | Food Service |
|---|---|
| Predicted CAGR (2024 to 2034) | 4.0% |
As per the latest analysis, the food service segment is expected to lead the United States industry during the forecast period. This is attributable to the growing usage of walk-in coolers and freezers across food service facilities like restaurants and kitchens.
The food service sector heavily relies on walk-in coolers and freezers due to their operational and space optimization benefits. As a result, food service businesses in places like Florida, Texas, Georgia, and California are increasingly installing walk-in coolers and freezers.
Several regions in the United States experience warm and humid weather. This, in turn, is creating steady demand for walk-in coolers and freezers as they are essential for maintaining perishable ingredients.
Due to the robust food service sector and varied culinary scenes in the United States, there is a constant demand for adaptable and effective storage solutions. This will likely fuel sales of walk-in coolers and freezers in this sector.
Walk-in coolers and freezers are great choices for food service businesses with a variety of different inventory needs. This is due to their large storage capacity, customizable features, and adherence to strict health and safety standards.
In busy kitchens and food preparation facilities, their function is to improve operational efficiency and provide rapid access to supplies. Thus, they are becoming vital components in food service establishments.
The food service segment is anticipated to hold a significant volume share of 35.3% in 2024. Over the forecast period, demand for walk-in coolers and freezers in the food service sector is projected to rise at a CAGR of 4.0%.
| Top Segment (Usage Type) | Purchased |
|---|---|
| Projected CAGR (2024 to 2034) | 4.8% |
Based on usage type, the United States walk-in cooler and freezer industry is segmented into purchased, mobile/rental, and transport. Among these, the purchased segment is set to lead the industry, exhibiting a CAGR of 4.8%. It will likely attain a valuation of USD 3,082.6 million by 2034.
When it comes to the purchase of walk-in coolers and freezers, several elements match the demands and preferences of companies. Owning is viewed as a long-term investment that offers financial alignment and allows companies to defer expenses over time.
Owning provides firms with total power over equipment maintenance, storage conditions, and operating consistency, satisfying their needs for stability and control. For businesses with unique space requirements and varying inventory demands, customization is essential, which makes ownership an appealing choice.
Purchasing is preferred in the United States business landscape due to its affordable expenses and ability to customize systems to exact specifications. This is especially true in industries like food service and retail, where walk-in coolers and freezers are essential to daily operations and long-term success.
Despite the high initial investment, purchasing walk-in coolers and freezer can be cost-effective in the long run. Mostly in businesses with strict health and safety rules, the stability of owning units facilitates constant regulatory compliance, effective space usage, and seamless facility integration.
The United States walk-in cooler and freezer industry is fragmented, with leading players accounting for about 20% to 25% of the share.
Dover Corporation, Panasonic Corporation, Welbilt, Inc., Danfoss, USA. Cooler, SRC Refrigeration, Tmp Manufacturing Company Inc., American Panel Corporation, Arctic Industries Inc., Amerikooler LLC, Everidge, Master-Bilt, Imperial Brown and Polar King are the leading manufacturers of walk-in cooler and freezers listed in the report.
Top walk-in cooler and freezer companies are focusing on introducing new solutions with high energy efficiency, including walk-in cooler-freezer combos. They also employ strategies like new product launches, distribution agreements, acquisitions, facility expansions, partnerships, collaborations, and mergers to boost their revenue and strengthen their footprint.
Recent Developments in the United States Walk-in Cooler and Freezer Industry:
| Attribute | Details |
|---|---|
| Estimated Industry Size (2024) | USD 3,049.9 million |
| Projected Industry Value (2034) | USD 5,081.6 million |
| Anticipated Growth Rate (2024 to 2034) | 5.2% |
| Historical Data | 2019 to 2023 |
| Forecast Period | 2024 to 2034 |
| Quantitative Units | Value (USD million) and Volume (Units) |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Key Segments Covered | By Equipment Type, By Usage Type, By Place of Usage, End-use, Region |
| Regions Covered | Northeast United States; Midwest United States; West United States; South United States |
| Key Companies Profiled | Dover Corporation; Panasonic Corporation; Welbilt, Inc.; Danfoss; USA. Cooler; SRC Refrigeration; Tmp Manufacturing Company Inc.; American Panel Corporation; Arctic Industries Inc.; Amerikooler LLC; Everidge; Master-Bilt; Imperial Brown; Polar King |
The target industry is estimated to total USD 3,049.9 million in 2024.
Demand is projected to rise with a CAGR of 5.2% through 2034.
The United States walk-in cooler and freezer industry size is set to reach USD 5,081.6 million in 2034.
Food service segment is expected to lead the target industry through 2034.
Introduction of walk-in coolers with dual-temperature zones is a key trend.
1. Executive Summary 2. Industry Overview 3. Key Industry Trends 4. Key Success Factors 5. Industry Demand Analysis 2019 to 2023 and Forecast, 2024 to 2034 6. Industry - Pricing Analysis 7. Industry Demand (in Value or Size in US$ million) Analysis 2019 to 2023 and Forecast, 2024 to 2034 8. Industry Background 9. Industry Analysis 2019 to 2023 and Forecast 2024 to 2034, By Equipment 9.1. Coolers 9.2. Freezers 10. Industry Analysis 2019 to 2023 and Forecast 2024 to 2034, By Usage Type 10.1. Purchased 10.2. Mobile / Rental 10.3. Transport 11. Industry Analysis 2019 to 2023 and Forecast 2024 to 2034, By Place of Usage 11.1. Indoor 11.2. Outdoor 12. Industry Analysis 2019 to 2023 and Forecast 2024 to 2034, By End Use 12.1. Food Service 12.1.1. Restaurants 12.1.2. Institutions 12.1.3. Businesses 12.1.4. Hospitality 12.1.5. Miscellaneous 12.2. Food Retail 12.2.1. Grocery/Supermarket 12.2.2. Retail Miscellaneous 12.3. Cold Storage 12.3.1. Meat Processor 12.3.2. Food Manufacturer 12.4. Life Sciences 12.4.1. Forensics/Morgue 12.4.2. Laboratory 12.4.3. Pharmaceutical/Biotechnology 12.5. Logistics 12.6. Agriculture 12.7. Other 13. Industry Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 13.1. Northeast United States 13.2. Midwest United States 13.3. West United States 13.4. South United States 14. Northeast Industry Analysis 2019 to 2023 and Forecast 2024 to 2034 15. Midwest Industry Analysis 2019 to 2023 and Forecast 2024 to 2034 16. West Industry Analysis 2019 to 2023 and Forecast 2024 to 2034 17. South Industry Analysis 2019 to 2023 and Forecast 2024 to 2034 18. Industry Structure Analysis 19. Competition Analysis 19.1. Dover Corporation 19.2. Panasonic Corporation 19.3. Welbilt, Inc. 19.4. Danfoss 19.5. United States Cooler 19.6. SRC Refrigeration 19.7. Tmp Manufacturing Company Inc. 19.8. American Panel Corporation 19.9. Arctic Industries Inc. 19.10. Amerikooler LLC 19.11. Everidge 19.12. Master-Bilt 19.13. Imperial Brown 19.14. Polar King 19.15. Commercial Cooling - Par Engineering, Inc. 19.16. Thermo-Kool / Mid-South Industries, Inc 19.17. Bally Refrigerated Boxes, Inc 19.18. Norlake, Inc. 19.19. Air Services & Refrigeration Specialties Inc 19.20. Refrigerator Manufacturers, Inc. 20. Assumptions and Acronyms Used 21. Research Methodology
Industrial Automation
February 2024
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333 pages
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November 2023
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Walk-in Cooler and Freezer Industry Analysis in the United States
