Global Refrigeration Coolers Market Size Study, by Component (Evaporators and Air Coolers, Condensers), by Applications (Commercial, Industrial), by Refrigerant (HFC/HFO, NH3, CO2, Glycol, Others), and Regional Forecasts 2022-2032
The Global Refrigeration Coolers Market was valued at approximately USD 3.70 billion in 2023 and is projected to grow at a robust CAGR of 6.02% during the forecast period of 2024-2032, reaching an estimated value of USD 6.26 billion by the end of 2032. This growth trajectory is propelled by the increasing demand for processed foods, advancements in cold storage solutions, and heightened focus on energy efficiency in refrigeration systems.
Refrigeration coolers play a pivotal role in maintaining food quality and ensuring compliance with stringent food safety standards, as highlighted by rising investments in refrigeration technologies. The increasing consumption of ultra-processed and convenience foods has further underscored the significance of efficient refrigeration systems. Companies such as Carrier Global Corporation and Danfoss A/S are spearheading the development of energy-efficient refrigeration solutions, addressing both consumer demand and environmental concerns.
The market's expansion is also fueled by innovations in energy-efficient technologies, with systems capable of reducing energy consumption by up to 50%, a critical factor as consumers and businesses alike strive to reduce operational costs and environmental impact. Reports indicate that 47% of consumers are willing to pay a premium for eco-friendly refrigeration, prompting retailers to invest in advanced refrigeration solutions that enhance food safety and sustainability.
Globally, the Asia-Pacific region dominated the market in 2023, driven by rapid urbanization, increasing disposable incomes, and heightened demand for refrigerated goods across food and beverage, pharmaceutical, and logistics sectors. Meanwhile, North America emerged as the fastest-growing region, bolstered by advancements in refrigeration technology and a rising emphasis on energy efficiency.
Major market players driving this growth include Carrier Global Corporation, Trane Technologies, Danfoss A/S, and Emerson Electric Co., among others, who continue to innovate within the refrigeration coolers space.
The market is segmented by component, with condensers capturing a significant share due to their critical role in heat exchange and energy efficiency. Additionally, commercial applications dominate the market, with supermarkets, convenience stores, and restaurants prioritizing refrigeration systems to meet consumer demands for fresh and frozen foods.
Key players are also responding to stringent regulatory frameworks, which present challenges but simultaneously drive innovation in eco-friendly refrigeration technologies.
Major market players included in this report are:
By Component
By Region:
North America
Refrigeration coolers play a pivotal role in maintaining food quality and ensuring compliance with stringent food safety standards, as highlighted by rising investments in refrigeration technologies. The increasing consumption of ultra-processed and convenience foods has further underscored the significance of efficient refrigeration systems. Companies such as Carrier Global Corporation and Danfoss A/S are spearheading the development of energy-efficient refrigeration solutions, addressing both consumer demand and environmental concerns.
The market's expansion is also fueled by innovations in energy-efficient technologies, with systems capable of reducing energy consumption by up to 50%, a critical factor as consumers and businesses alike strive to reduce operational costs and environmental impact. Reports indicate that 47% of consumers are willing to pay a premium for eco-friendly refrigeration, prompting retailers to invest in advanced refrigeration solutions that enhance food safety and sustainability.
Globally, the Asia-Pacific region dominated the market in 2023, driven by rapid urbanization, increasing disposable incomes, and heightened demand for refrigerated goods across food and beverage, pharmaceutical, and logistics sectors. Meanwhile, North America emerged as the fastest-growing region, bolstered by advancements in refrigeration technology and a rising emphasis on energy efficiency.
Major market players driving this growth include Carrier Global Corporation, Trane Technologies, Danfoss A/S, and Emerson Electric Co., among others, who continue to innovate within the refrigeration coolers space.
The market is segmented by component, with condensers capturing a significant share due to their critical role in heat exchange and energy efficiency. Additionally, commercial applications dominate the market, with supermarkets, convenience stores, and restaurants prioritizing refrigeration systems to meet consumer demands for fresh and frozen foods.
Key players are also responding to stringent regulatory frameworks, which present challenges but simultaneously drive innovation in eco-friendly refrigeration technologies.
Major market players included in this report are:
- Carrier Global Corporation
- Trane Technologies
- Danfoss A/S
- Emerson Electric Co.
- Johnson Controls International
- GE Appliances
- LG Electronics
- Whirlpool Corporation
- Samsung Electronics
- Daikin Industries, Ltd.
- Mitsubishi Electric Corporation
- Blue Star Limited
- Panasonic Corporation
- Electrolux AB
- AHT Cooling Systems GmbH
By Component
- Evaporators and Air Coolers
- Condensers
- Commercial
- Industrial
- HFC/HFO
- NH3
- CO2
- Glycol
- Others
By Region:
North America
- U.S.
- Canada
- Mexico
- Germany
- France
- UK
- Italy
- Spain
- Netherlands
- Switzerland
- Austria
- Rest of Western Europe
- China
- India
- Japan
- South Korea
- Vietnam
- Singapore
- Australia
- Rest of Asia Pacific
- Brazil
- Argentina
- Colombia
- Rest of Latin America
- UAE
- Egypt
- Saudi Arabia
- Qatar
- Nigeria
- South Africa
- Rest of Middle East & Africa
- Historical year – 2022
- Base year – 2023
- Forecast period – 2024 to 2032
- Market estimates and forecasts for 10 years from 2022 to 2032.
- Annualized revenues and regional-level analysis for each market segment.
- Detailed analysis of the geographical landscape with country-level insights.
- Competitive landscape and analysis of major market players.
- In-depth exploration of key business strategies.
- Recommendations on future market approaches.
CHAPTER 1. GLOBAL REFRIGERATION COOLERS MARKET EXECUTIVE SUMMARY
1.1. Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
1.3.1. By Component
1.3.2. By Applications
1.3.3. By Refrigerant
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion
CHAPTER 2. MARKET DEFINITION AND RESEARCH ASSUMPTIONS
2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
2.3.1. Inclusion & Exclusion
2.3.2. Limitations
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates
CHAPTER 3. MARKET DYNAMICS
3.1. Market Drivers
3.1.1. Rising demand for energy-efficient refrigeration systems
3.1.2. Advancements in cold chain logistics
3.2. Market Challenges
3.2.1. Regulatory compliance and operational costs
3.3. Market Opportunities
3.3.1. Adoption of eco-friendly refrigerants
CHAPTER 4. INDUSTRY ANALYSIS
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. PESTEL Analysis
CHAPTER 5. GLOBAL REFRIGERATION COOLERS MARKET SIZE & FORECASTS BY COMPONENT (2022-2032)
5.1. Segment Dashboard
5.2. Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
5.2.1. Evaporators and Air Coolers
5.2.2. Condensers
CHAPTER 6. GLOBAL REFRIGERATION COOLERS MARKET SIZE & FORECASTS BY APPLICATIONS (2022-2032)
6.1. Segment Dashboard
6.2. Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
6.2.1. Commercial
6.2.2. Industrial
CHAPTER 7. GLOBAL REFRIGERATION COOLERS MARKET SIZE & FORECASTS BY REFRIGERANT (2022-2032)
7.1. Segment Dashboard
7.2. Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
7.2.1. HFC/HFO
7.2.2. NH3
7.2.3. CO2
7.2.4. Glycol
7.2.5. Others
CHAPTER 8. GLOBAL REFRIGERATION COOLERS MARKET SIZE & FORECASTS BY REGION (2022-2032)
8.1. North America
8.1.1. U.S. Market
8.1.1.1. Component Breakdown
8.1.1.2. Application Breakdown
8.1.1.3. Refrigerant Breakdown
8.1.2. Canada Market
8.1.3. Mexico Market
8.2. Europe
8.2.1. Germany
8.2.2. France
8.2.3. UK
8.2.4. Italy
8.2.5. Spain
8.2.6. Netherlands
8.2.7. Rest of Western Europe
8.3. Asia Pacific
8.3.1. China
8.3.2. India
8.3.3. Japan
8.3.4. South Korea
8.3.5. Vietnam
8.3.6. Rest of Asia Pacific
8.4. Latin America
8.4.1. Brazil
8.4.2. Argentina
8.4.3. Colombia
8.4.4. Rest of Latin America
8.5. Middle East & Africa
8.5.1. UAE
8.5.2. Saudi Arabia
8.5.3. Nigeria
8.5.4. Rest of MEA
CHAPTER 9. COMPETITIVE INTELLIGENCE
9.1. Key Company SWOT Analysis
9.1.1. Carrier Global Corporation
9.1.2. Emerson Electric Co.
9.1.3. Danfoss A/S
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. Carrier Global Corporation
9.3.1.1. Key Information
9.3.1.2. Overview
9.3.1.3. Financial Overview (Subject to Data Availability)
9.3.1.4. Product Summary
9.3.1.5. Recent Developments
9.3.2. Emerson Electric Co.
9.3.3. Danfoss A/S
9.3.4. LG Electronics
9.3.5. Panasonic Corporation
9.3.6. Daikin Industries, Ltd.
9.3.7. Mitsubishi Electric Corporation
9.3.8. Whirlpool Corporation
9.3.9. Samsung Electronics
9.3.10. Sub-Zero Group, Inc.
CHAPTER 10. RESEARCH PROCESS
10.1. Research Methodology
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Validation
10.1.4. Market Estimation
10.1.5. Final Deliverables
10.2. Research Attributes
12. LIST OF TABLES
• Table 1. Global Refrigeration Coolers Market, Report Scope
• Table 2. Market Estimates & Forecasts by Region (2022-2032)
• Table 3. Market Estimates & Forecasts by Component (2022-2032)
• Table 4. Market Estimates & Forecasts by Application (2022-2032)
• Table 5. Market Estimates & Forecasts by Refrigerant (2022-2032)
'This list is not complete; the final report contains more than 100 tables. The list may be updated in the final deliverable.'
12. LIST OF FIGURES
• Figure 1. Research Methodology
• Figure 2. Market Estimation Techniques
• Figure 3. Global Refrigeration Coolers Market Trends (2023)
• Figure 4. Porter’s 5 Forces Analysis
• Figure 5. Global Refrigeration Coolers Market Size, 2022 & 2032
'This list is not complete; the final report contains more than 50 figures. The list may be updated in the final deliverable.'
1.1. Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
1.3.1. By Component
1.3.2. By Applications
1.3.3. By Refrigerant
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion
CHAPTER 2. MARKET DEFINITION AND RESEARCH ASSUMPTIONS
2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
2.3.1. Inclusion & Exclusion
2.3.2. Limitations
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates
CHAPTER 3. MARKET DYNAMICS
3.1. Market Drivers
3.1.1. Rising demand for energy-efficient refrigeration systems
3.1.2. Advancements in cold chain logistics
3.2. Market Challenges
3.2.1. Regulatory compliance and operational costs
3.3. Market Opportunities
3.3.1. Adoption of eco-friendly refrigerants
CHAPTER 4. INDUSTRY ANALYSIS
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. PESTEL Analysis
CHAPTER 5. GLOBAL REFRIGERATION COOLERS MARKET SIZE & FORECASTS BY COMPONENT (2022-2032)
5.1. Segment Dashboard
5.2. Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
5.2.1. Evaporators and Air Coolers
5.2.2. Condensers
CHAPTER 6. GLOBAL REFRIGERATION COOLERS MARKET SIZE & FORECASTS BY APPLICATIONS (2022-2032)
6.1. Segment Dashboard
6.2. Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
6.2.1. Commercial
6.2.2. Industrial
CHAPTER 7. GLOBAL REFRIGERATION COOLERS MARKET SIZE & FORECASTS BY REFRIGERANT (2022-2032)
7.1. Segment Dashboard
7.2. Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
7.2.1. HFC/HFO
7.2.2. NH3
7.2.3. CO2
7.2.4. Glycol
7.2.5. Others
CHAPTER 8. GLOBAL REFRIGERATION COOLERS MARKET SIZE & FORECASTS BY REGION (2022-2032)
8.1. North America
8.1.1. U.S. Market
8.1.1.1. Component Breakdown
8.1.1.2. Application Breakdown
8.1.1.3. Refrigerant Breakdown
8.1.2. Canada Market
8.1.3. Mexico Market
8.2. Europe
8.2.1. Germany
8.2.2. France
8.2.3. UK
8.2.4. Italy
8.2.5. Spain
8.2.6. Netherlands
8.2.7. Rest of Western Europe
8.3. Asia Pacific
8.3.1. China
8.3.2. India
8.3.3. Japan
8.3.4. South Korea
8.3.5. Vietnam
8.3.6. Rest of Asia Pacific
8.4. Latin America
8.4.1. Brazil
8.4.2. Argentina
8.4.3. Colombia
8.4.4. Rest of Latin America
8.5. Middle East & Africa
8.5.1. UAE
8.5.2. Saudi Arabia
8.5.3. Nigeria
8.5.4. Rest of MEA
CHAPTER 9. COMPETITIVE INTELLIGENCE
9.1. Key Company SWOT Analysis
9.1.1. Carrier Global Corporation
9.1.2. Emerson Electric Co.
9.1.3. Danfoss A/S
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. Carrier Global Corporation
9.3.1.1. Key Information
9.3.1.2. Overview
9.3.1.3. Financial Overview (Subject to Data Availability)
9.3.1.4. Product Summary
9.3.1.5. Recent Developments
9.3.2. Emerson Electric Co.
9.3.3. Danfoss A/S
9.3.4. LG Electronics
9.3.5. Panasonic Corporation
9.3.6. Daikin Industries, Ltd.
9.3.7. Mitsubishi Electric Corporation
9.3.8. Whirlpool Corporation
9.3.9. Samsung Electronics
9.3.10. Sub-Zero Group, Inc.
CHAPTER 10. RESEARCH PROCESS
10.1. Research Methodology
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Validation
10.1.4. Market Estimation
10.1.5. Final Deliverables
10.2. Research Attributes
12. LIST OF TABLES
• Table 1. Global Refrigeration Coolers Market, Report Scope
• Table 2. Market Estimates & Forecasts by Region (2022-2032)
• Table 3. Market Estimates & Forecasts by Component (2022-2032)
• Table 4. Market Estimates & Forecasts by Application (2022-2032)
• Table 5. Market Estimates & Forecasts by Refrigerant (2022-2032)
'This list is not complete; the final report contains more than 100 tables. The list may be updated in the final deliverable.'
12. LIST OF FIGURES
• Figure 1. Research Methodology
• Figure 2. Market Estimation Techniques
• Figure 3. Global Refrigeration Coolers Market Trends (2023)
• Figure 4. Porter’s 5 Forces Analysis
• Figure 5. Global Refrigeration Coolers Market Size, 2022 & 2032
'This list is not complete; the final report contains more than 50 figures. The list may be updated in the final deliverable.'
