The global used commercial freezer market is valued at US$ 27583.40 million as on 2023. The market is expected to grow at a CAGR of 3% during the period 2023-2033, and by 2033, the market valuation is expected to reach US$ 37069.78 million.
If we talk particularly in the context of commercial used commercial freezers, these are used mainly in SME’s and to an extent a few large businesses which deal with ice creams. Based on research conducted by FMI, the global ice cream and frozen dessert market is expected to grow at a CAGR of 7.1%, and held a massive valuation of US$ 137,300 million as on 2022. This might well increase the demand for used commercial freezer during the forecast period.
Apart from that, the used refrigeration equipment is also used in quick service restaurants, as one of the main business criteria for these restaurants happens to be cost cutting through effective process implementation. The quick service restaurants make use of these freezers for storing cold beverages and ice creams. The growth of quick service restaurants at a CAGR of nearly 5.5% represents massive opportunities for the used commercial freezer market.
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Furthermore, the used freezer is also used in the hypermarkets and supermarkets for keeping the consumables free from contamination.
Moreover, the used commercial freezers that are available in the current times are robust as well as energy efficient which might well increase their market share during the forecast period.
Thus, from the insights provided by FMI, it is clear that “a surging ice cream and beverage market, coupled with an increasing demand from quick service restaurant is expected to surge the used commercial freezer market share.”
Key Takeaways:
- The used commercial freezer market is valued at US$ 27583.40 million as on 2023.
- By 2033, the market is expected to reach a valuation of US$ 37069.78 million.
- The market is expected to grow at a CAGR of 3% during the period 2023-2033.
- The US used commercial freezer market is valued at US$ 7723.35 million as on 2023, and is expected to grow at a CAGR of 3.9% during the forecast period.
- The UK market is valued at US$ 1875.67 million as on 2023, and is forecasted to grow at a CAGR of 4.2% during the forecast period.
- The China used commercial freezer market is expected to be valued at US$ 5138.03 million by 2033, and is expected to grow at a CAGR of 5.9% during the forecast period.
- The Japan market holds a valuation of US$ 2399.76 million as on 2023, and is projected to expand at a CAGR of 6.1% through 2033.
- The South Korea used commercial freezer market is expected to grow at a CAGR of 5% through 2033, and by 2033, the market is expected to be valued at US$ 1572.57 million.
- Based on the type, the ice machines segment holds the highest market share, and is anticipated to grow at a CAGR of 3.5% during the forecast period.
- Based on the application, the convenience stores segment holds the highest market share, and is anticipated to grow at a CAGR of 3.6% during the forecast period.
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Competitive Landscape
The key players operating in the used commercial freezer market are focusing on developing ties with supermarkets, hypermarkets, and all the major players operating in the cold beverages market. Apart from that, there is also a conscious effort to effectively convey the value proposition of the product, which is “top-notch cooling at an affordable rate.”
Some of the recent developments are:
- In October 2022, Ingersoll-Rand announced that it would acquire Everest Group and Airmax Groupe.
- In November 2022, Johnson Controls appointed Lei Schlitz as Global Products President.
Key Companies Profiled
- Electrolux,
- Hussmann,
- Ingersoll-Rand,
- Johnson Controls,
- Lennox,
- Whirlpool,
- Samsung Electronics,
- SMEG,
- Unimagna Philippines
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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