The global walk-in coolers and freezers market is estimated to be worth around US$ 9.52 Bn in 2022. With rising trend of installing customized walk-in coolers and freezers, the overall market is projected to expand at a robust CAGR of 5.7% between 2022 and 2029, reaching a valuation of US$ 14.05 Bn by 2029.
Purchaser acknowledgment of frozen and handled food varieties, as well as an increase in demand for proficient refrigeration offices to store and maintain the timeframe of realistic usability of these items, point to a more promising time to come for the walk-in coolers and freezers market. Future Market Insights (FMI) gauges worldwide deals of walk-in coolers and freezers at $8.6 billion in 2022 in its new report.
The growing penetration of walk-in coolers and freezers in developing regions is opening up new growth opportunities in the global walk-in coolers and freezers market. These refrigeration products are becoming more popular as a result of their increased capacity to store and preserve sensitive products while also extending their shelf life.
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Digitalization and smart technologies continue to influence numerous product developments and demand-side dynamics, and walk-in coolers and freezers are no exception. As consumers show marked preference for efficient yet custom-sized units, manufacturers are leveraging technological advancements to develop unique product features that fulfil specific customer requirements.
According to the study, key players in the walk-in coolers and freezers market also remained focused on improving energy efficiency of their products, considering the continuous changes in energy conservation standards for various commercial and industrial equipment including walk-in coolers and freezers. These players are continuously putting efforts on improving quality of their offerings, while investing in innovative developments that would yield substantial improvements for customers.
Walk-in coolers and freezers with self-contained refrigeration continue to account for higher share as compared to remote condensing and multiplex condensing. Considering the suitability of self-contained refrigeration in almost any application along with ease of service and maintenance, this category also continues to witness higher innovation and investments.
According to the study, the walk-in coolers and freezers market shows a high level of fragmentation, and therefore, several market players are focusing on forging strategic alliance with other players to improve their market shares. Manufacturers are also focused on offering products that can be custom designed to fit any settings along with several add-on features to increase convenience and ease-of-use.
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Gains Remain High from Commercial Kitchens & Restaurants
Walk-in coolers and freezers continue to gain high traction from commercial kitchens and restaurants, which are widely used to preserve raw foods and grocery items. As international fast food chains and café outlets continue to explore opportunities in various attractive destinations, demand of walk-in coolers and freezers has been on an upward swing across the globe.
North America and Europe have been the early adopters of commercial kitchens and restaurants; however, they are reaching their saturation point. Walk-in cooler and freezer manufacturers are tapping into opportunities in developing countries in East Asia, where multi-cultural environment, changing eating habits, and rising disposable income have opened avenues of growth for commercial kitchens and restaurants. Moreover, walk-in coolers and freezers market in East Asia is likely to take over the Europe market in the future.
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Walk-in Coolers and Freezers Market by Category
Product Type:
· Walk-in Cooler
· Walk-in Freezer
· Combo (Freezer + Cooler)
Place of Use :
· Indoor
· Outdoor
Technology :
· Self-Contained
· Remote Condensing
· Multiplex Condensing
Door Type :
· Hinged
· Power Sliding
· Manual Sliding
Application :
· Cold Storage Warehouse
· Breweries
· Commercial Kitchen & Restaurants
· Floral Storage
· Pharmaceuticals
· Chemicals
· Research laboratories
· Hospitals & Mortuaries
· Mobile Refrigeration System
· Retail Food & Beverage
· Supermarket
· Hypermarket
· Convenience Stores
· Other Stores
Sales Channel :
· OEM
· Aftermarket
Mounting Type :
· Floor
· Non-floor
Region :
· North America
· Europe
· Latin America
· South Asia
· Oceania
· East Asia
· Middle East & Africa (MEA)
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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 7-years.
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