Supermarket Refrigeration Systems Market to Reach $33.7 Billion, Globally, by 2032 at 7.7% CAGR: Allied Market Research

Major players in the supermarket refrigeration system industry have focused on business expansion and product launch strategies to gain the maximum share in the market. This further results in consolidation of the supermarket refrigeration system market.


Wilmington, Delaware, Aug. 22, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Supermarket by Operation (Automatic and Semi-Automatic), Size (Small, Medium and Large), and Capacity (0-50 L, 50-100 L and Above 100 L): Global Opportunity Analysis and Industry Forecast, 2024-2032". According to the report, the Supermarket Refrigeration Systems Market was valued at $17.2 billion in 2023, and is estimated to reach $33.7 billion by 2032, growing at a CAGR of 7.7% from 2024 to 2032. 

Prime determinants of growth 

The growth of e-commerce and the trend towards omnichannel retailing require supermarkets to maintain robust cold storage solutions to handle online orders, curbside pickups, and home deliveries which positively impacts the market growth.  Supermarkets are increasingly focusing on reducing food waste as part of their sustainability initiatives. In addition, efficient refrigeration systems help extend the shelf life of perishable goods, reducing waste and loss. This is projected to boost the market growth during the forecast period. 

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Report coverage & details: 

  Report Coverage       Details    
  Forecast Period       2024–2032   
  Base Year       2023   
  Market Size in 2023      $17.2 billion   
  Market Size in 2032      $33.7 billion   
  CAGR       7.7%    
  No. of Pages in Report       198   
  Segments covered       Operation, Size, Capacity, and Regions.    
  Drivers       Rapid supermarket and infrastructure development 
Growth in refrigeration industry 
    
  Opportunities       Technological Advancements    
  Restraints       Volatile price of raw materials   

Covid-19 Scenario 

  • The outbreak of the Covid-19 pandemic had a negative impact on the supermarket  refrigeration system market, owing to the temporary closure of manufacturing firms during the lockdown. 
  • Not only the production but also the sale of supermarket  refrigeration system was hampered due to the closure of manufacturing factories across the world, especially in the initial period of the pandemic. 

The automatic segment dominated the global supermarket  refrigeration system market share, in terms of revenue 

Based on operation, the market is divided into automatic and semi-automatic. There is a growing emphasis on energy efficiency and sustainability in the retail sector. Supermarkets are investing in energy-efficient automatic refrigeration systems to reduce operating costs and comply with environmental regulations. The push for greener technologies, such as natural refrigerants and low-GWP (Global Warming Potential) refrigerants, also drives market growth for automatic supermarket  refrigeration system. 

The large segment dominated the market in 2023. 

Based on size, the market is segregated into small, medium, large. Urbanization and the busy lifestyles of consumers lead to increased shopping frequency at supermarkets for convenience and variety. This trend boosts the need for efficient large size refrigeration to store a wide range of perishable goods. Such factor drives the large supermarket  refrigeration system market. 

The 50-100 L segment dominated the market in 2023. 

As per capacity, the market is bifurcated into 0-50 L, 50-100 L, Above 100 L. The 50-100 L capacity range is perfect for small to medium-sized businesses, including restaurants, cafes, and bakeries, which require efficient yet compact cooling solutions. They provide flexibility for batch cooking and are versatile enough to handle different types of food products, from meats to pastries. Units in the 50-100 L segment are generally more affordable than larger industrial models, making them accessible to a broader range of businesses. 

The Asia-Pacific dominates the market share in terms of revenue in 2023 

The supermarket  refrigeration system market is analyzed across North America, Europe, Asia-Pacific, Latin America, and MEA. China holds the maximum share in the supermarket  refrigeration system industry in the Asia-Pacific region. Various governments offer incentives and rebates for businesses that invest in energy-efficient and environmentally friendly refrigeration systems. These financial incentives encourage supermarkets to upgrade their equipment. Advances in technology have made smaller blast chillers more efficient and effective, offering features that were once only available in larger models, such as precise temperature control and energy-saving modes. 

Leading Market Players: - 

  • Panasonic 
  • Hussmann 
  • Tecumseh 
  • Electrolux 
  • Gram 
  • Daikin 
  • Miele 
  • Whirlpool 
  • Haier 
  • Turbo Air 

The report provides a detailed analysis of these key players in the supermarket  refrigeration system market. These players have adopted different strategies such as new product launches, expansion, and acquisitions to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. 

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." Allied Market Research has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.   

We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.   

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