The commercial walk in freezer market is expected to be worth US$691.68 million by 2023. The market is expected to be worth US$ 1105.40 million by 2033 and to grow at a CAGR of 4.8% during the forecast period.
The expansion of the fast food industry is also predicted to enhance the demand for commercial walk in freezers.
Walk in freezers have a high number of customers in the food service and food sales sectors due to their capacity to store a big number of frozen food and other perishable products for refrigeration.
The capacity of walk-in freezers to function at a wide temperature range is obviously important to investors. The product’s ability to deliver cooling in sub-zero temperatures is predicted to raise buyer demand during the projection period.
To some extent, commercial walk-in freezers can also aid with cost-cutting objectives. These help with stock rotation while also storing products throughout the year, acting as industrial refrigeration.
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Thus, based on FMI’s findings, “an expanding frozen food market, coupled with the ability to assist in cost reduction, is expected to increase the commercial walk in freezer market share during the forecast period.”
Key Takeaways:
- The commercial walk in freezer market is valued at US$ 691.68 Mn as on 2023.
- By 2033, the market is expected to reach a valuation of US$ 1105.40 Mn.
- The market is expected to grow at a CAGR of 4.8% during the period 2023-2033.
- The US commercial walk in freezer market is projected to be valued at US$ 213.86 Mn by 2033, and is expected to grow at a CAGR of 3.7% during the forecast period.
- The UK market is valued at US$ 19.37 Mn as on 2023, and is forecasted to grow at a CAGR of 4.6% during the forecast period.
- The China commercial walk in freezer market is expected to hold a valuation of US$ 115.65 Mn by 2033, and is projected to grow at a CAGR of 7% during the forecast period.
- The Japan market holds a valuation of US$ 35.28 Mn as on 2023, and is projected to expand at a robust CAGR of 6% through 2033.
- The South Korea commercial walk in freezer market is expected to grow at a CAGR of 5.5% through 2033, and by 2033, the market is expected to be valued at US$ 48.44 Mn.
- Based on the technology, the self-contained segment has the highest market share, and is expected to surge at a CAGR of 5.6% during the forecast period.
- Based on the door type, the hinged segment has the highest market share, and is expected to grow at a CAGR of 5.1% during the forecast period.
Competitive Landscape
The main objective of the key players has been focusing on strengthening their leadership, and had taken a few important decisions based on leadership change. The reason has been to bring on board those members who have been a part of this market for a long time, and know the intricacies associated with the market dynamics.
Some of the recent developments are:
- In October 2022, Parker Hannifin Corp. appointed Jennifer A Parmentier as the CEO and Andrew D Ross as the COO.
- In October 2022, Panasonic Energy’s new EV battery facility in Kansas would initially produce 30GWh of electricity.
Key Companies Profiled
- SRC Refrigeration
- Parker Hannifin Corp.
- TMP Manufacturing Company
- Panasonic Corporation
- American Panel Corporation
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Commercial Walk in Freezer Market by Category
By Technology:
- Self-Contained
- Remote Condensing
- Multiplex Condensing
By Door Type:
- Hinged
- Power Sliding
- Manual Sliding
By Mounting type:
- Floor
- Non-Floor
By Sales Channel:
- OEM
- Aftermarket
By Region:
- North America
- Europe
- Latin America
- East Asia
- South Asia
- Oceania
- Middle East and Africa
About Us
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient 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 favour 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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