The supermarket refrigeration systems market was valued at $17.2 billion in 2023 and is projected to reach $33.7 billion by 2032, growing at a CAGR of 7.7% from 2024 to 2032.
Supermarket refrigeration system is designed for commercial purposes such as grocery stores and hypermarkets. The system comprises of different units such as closed display, freezers, and walk-in coolers to store different categories of edible products as the required temperature. The adoption of refrigeration systems is essential for the commercial spaces to ensure compliance with the imposed regulations, maintain product quality, and ensure food safety.
Increase in the popularity of frozen and ready-to-eat food products has increased the need for efficient refrigeration systems to support the stocks, thereby driving the growth of the supermarket refrigeration systems market. In addition, to comply with the stringent regulations imposed regarding food safety, the adoption of supermarket refrigeration systems is on surge across the globe among medium- and large-scale commercial operators. With rising awareness regarding global warming and air quality index, the trend of using natural refrigerants in the supermarket refrigeration systems is acquiring traction. Natural refrigerants such as ammonia, carbon dioxide, and hydrocarbons have low impact on global warming, hence contributing toward the sustainability goals.
However, high upfront costs and consistent maintenance requirements of the refrigeration systems deter several small-scale operators and independent retailers from investing in them, thereby restraining the development of the supermarket refrigeration systems market. According to Emerson Electric, an American multinational corporation, 40-60% of energy consumption in the supermarkets is mainly due to refrigeration systems. Furthermore, economic downturns reduce the capital expenditure on refrigeration systems, hampering the market growth. Contrarily, the integration of refrigeration systems with heating, ventilation, and air conditioning systems is presenting lucrative opportunities for the market. This assimilation enhances energy efficiency and helps in cost cutting via utilization of the heat produced from the refrigeration systems for diverse purposes. Moreover, smart sensors are being deployed into supermarket refrigeration systems to facilitate predictive maintenance and optimize the usage of energy. This is poised to open new avenues for the market.
Segment Review
The supermarket refrigeration systems market is segmented into operation, size, capacity, and region. On the basis of operation, it is bifurcated into automatic and semi-automatic. As per size, it is classified into small, medium, and large. Depending on capacity, it is classified into 0-50 L, 50-100 L, and above 100 L. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Findings
On the basis of operation, the automatic segment dominated the market in 2023.
As per size, the large segment acquired a high market share in 2023.
Depending on capacity, the 50-100 L segment acquired a high stake in the market in 2023.
Region wise, Asia-Pacific was the highest revenue generator in 2023.
Competition Analysis
The leading players operating in the global supermarket refrigeration systems market include Panasonic, Hussmann, Tecumseh, Electrolux, Gram, Daikin, Miele, Whirlpool, Haier, and Turbo Air. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, to strengthen their foothold in the competitive market.
Supermarket refrigeration system is designed for commercial purposes such as grocery stores and hypermarkets. The system comprises of different units such as closed display, freezers, and walk-in coolers to store different categories of edible products as the required temperature. The adoption of refrigeration systems is essential for the commercial spaces to ensure compliance with the imposed regulations, maintain product quality, and ensure food safety.
Increase in the popularity of frozen and ready-to-eat food products has increased the need for efficient refrigeration systems to support the stocks, thereby driving the growth of the supermarket refrigeration systems market. In addition, to comply with the stringent regulations imposed regarding food safety, the adoption of supermarket refrigeration systems is on surge across the globe among medium- and large-scale commercial operators. With rising awareness regarding global warming and air quality index, the trend of using natural refrigerants in the supermarket refrigeration systems is acquiring traction. Natural refrigerants such as ammonia, carbon dioxide, and hydrocarbons have low impact on global warming, hence contributing toward the sustainability goals.
However, high upfront costs and consistent maintenance requirements of the refrigeration systems deter several small-scale operators and independent retailers from investing in them, thereby restraining the development of the supermarket refrigeration systems market. According to Emerson Electric, an American multinational corporation, 40-60% of energy consumption in the supermarkets is mainly due to refrigeration systems. Furthermore, economic downturns reduce the capital expenditure on refrigeration systems, hampering the market growth. Contrarily, the integration of refrigeration systems with heating, ventilation, and air conditioning systems is presenting lucrative opportunities for the market. This assimilation enhances energy efficiency and helps in cost cutting via utilization of the heat produced from the refrigeration systems for diverse purposes. Moreover, smart sensors are being deployed into supermarket refrigeration systems to facilitate predictive maintenance and optimize the usage of energy. This is poised to open new avenues for the market.
Segment Review
The supermarket refrigeration systems market is segmented into operation, size, capacity, and region. On the basis of operation, it is bifurcated into automatic and semi-automatic. As per size, it is classified into small, medium, and large. Depending on capacity, it is classified into 0-50 L, 50-100 L, and above 100 L. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Findings
On the basis of operation, the automatic segment dominated the market in 2023.
As per size, the large segment acquired a high market share in 2023.
Depending on capacity, the 50-100 L segment acquired a high stake in the market in 2023.
Region wise, Asia-Pacific was the highest revenue generator in 2023.
Competition Analysis
The leading players operating in the global supermarket refrigeration systems market include Panasonic, Hussmann, Tecumseh, Electrolux, Gram, Daikin, Miele, Whirlpool, Haier, and Turbo Air. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, to strengthen their foothold in the competitive market.
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Key Market Segments
By Operation
- Automatic
- Semi-Automatic
By Size
- Small
- Medium
- Large
By Capacity
- 0-50 L
- 50-100 L
- Above 100 L
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- France
- Germany
- Italy
- UK
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
- Panasonic
- Hussmann
- Tecumseh
- Electrolux
- Gram
- Daikin
- Miele
- Whirlpool
- Haier
- Turbo Air
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET LANDSCAPE
CHAPTER 4: SUPERMARKET REFRIGERATION SYSTEMSMARKET, BY OPERATION
CHAPTER 5: SUPERMARKET REFRIGERATION SYSTEMSMARKET, BY SIZE
CHAPTER 6: SUPERMARKET REFRIGERATION SYSTEMSMARKET, BY CAPACITY
CHAPTER 7: SUPERMARKET REFRIGERATION SYSTEMSMARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Companies Mentioned
Key Market Players in the Supermarket Refrigeration Systems Market include:- Panasonic
- Hussmann
- Tecumseh
- Electrolux
- Gram
- Daikin
- Miele
- Whirlpool
- Haier
- Turbo Air
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 198 |
| Published | July 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 17.2 billion |
| Forecasted Market Value ( USD | $ 33.7 billion |
| Compound Annual Growth Rate | 7.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
