Wilmington, Delaware, United States, Nov. 07, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global walk-in cooler equipment market is projected to flourish at a CAGR of 5.9% from 2023 to 2031. As per the report published by TMR, a valuation of US$ 15.9 billion is anticipated for the market in 2031. As of 2023, the demand for walk-in cooler equipment is expected to close at US$ 10.4 billion.
The food and beverage industry is a significant consumer of walk-in coolers and freezers for storing perishable goods. As the global population grows and dietary preferences change, the demand for cold storage solutions increases. Restaurants, catering, and food service establishments require walk-in coolers to store fresh produce and perishable ingredients. The growth of the restaurant industry contributes to the demand for walk-in coolers.
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The pharmaceutical and healthcare sectors require precise temperature control to store medications, vaccines, and medical supplies. Walk-in coolers are essential for ensuring product quality and safety.
The increased government regulations on technological innovations have led to more energy-efficient and environment-friendly walk-in cooler systems. Energy-efficient cooling solutions are in high demand due to cost savings and environmental concerns. Advancements in technology have enhanced the efficiency and functionality of walk-in coolers. Energy-efficient cooling systems, better insulation materials, and intelligent monitoring and control systems have made walk-in coolers more sustainable and cost-effective.
Competitive Landscape
The global walk-in cooler equipment market is consolidated, with a few large-scale vendors controlling the majority of the share. Most of the firms are spending significantly on comprehensive research & development activities, primarily to improve the quality of walk-in cooler equipment. Expansion of product portfolios and mergers and acquisitions are significant strategies key players adopt.
- Beverage Air
- ABN Refrigeration Manufacturing
- Arctic Walk-in Coolers & Walk-in Freezers
- Canadian Curtis Refrigeration Inc.
- Danfoss A/S
- Emerson Electric Co.
- Everidge, Inc.
- Hussmann Corporation
- Imperial Brown Inc.
- Kolpak
Key Takeaways from the Market Study
- As of 2022, the walk-in cooler equipment market was valued at US$ 9.8 billion
- Based on type, the remote condensing segment dominates the market during the forecast period.
- By input power, 2kw – 5kw segment to account for high revenue in the market.
Walk-in Coolers Equipment Market: Key Trends and Opportunistic Frontiers
- Ongoing technological innovations in walk-in cooler equipment lead to more efficient and reliable systems. Features like intelligent monitoring, remote control, and improved insulation contribute to market growth.
- The growth of e-commerce and online food delivery services has increased the need for cold storage facilities in distribution centers and warehouses.
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Walk-in Coolers Equipment Market – Regional Analysis
- North America is anticipated to dominate the global landscape due to the extensive food and beverage industry, restaurant and catering businesses, and pharmaceutical and healthcare sectors. Cold storage is essential in these industries.
- Energy efficiency and compliance with environmental regulations are important factors driving the market. Rise in health awareness and increased demand for natural and organic products also offer lucrative opportunities for market expansion in North America.
- Asia Pacific is expected to account for a significant share of the walk-in coolers market. The factors driving the market demand in the region include significant economic growth and an expanding middle class, leading to increased demand for processed and fresh foods.
- The growth of the restaurant, hotel, and hospitality sectors, driven by increased tourism and urbanization, has led to a higher demand for walk-in coolers to store food and beverages.
Key Developments in the Walk-in Coolers Equipment Market
- Carrier Commercial Refrigeration (United Technologies Corporation): Carrier is a prominent player in the walk-in cooler market, offering a wide range of refrigeration and cooling solutions. They provide efficient and sustainable walk-in cooler systems for various applications.
- Hussmann Corporation (Panasonic Corporation): Hussmann specializes in designing and manufacturing commercial refrigeration and cooling systems, including walk-in coolers. They are known for their innovative and energy-efficient solutions.
- Thermo Fisher Scientific offers a variety of cold storage solutions, including walk-in coolers, for research and healthcare applications. Their products are used in pharmaceutical and laboratory settings.
Walk-in Coolers Equipment Market – Key Segments
Type
- Self-contained
- Remote Condensing
- Multiplex Walk-ins
Temperature (Degree C)
- Up to 0
- 1 to 10
- above 10
Input Power
- Below 2 kW
- 2 kW - 5 kW
- Above 5 kW
Door Curtains
- Strip Curtains
- Air Curtains
Installation
- Outdoor
- Indoor
Power Consumption (KWH)
- Up To 1
- 2 to 3
- 4 to 5
- above 5
Cooler Size
- 5'x5'
- 6'x 6'
- 6' x 8'
- 8' x 8'
- 8' x 10
- Others (10×10, 10×12, etc.)
End-use
- Hotels & Restaurants
- Grocery Stores
- Convenience Stores
- Beer & Beverage
- Pharmaceutical
- Health Care / Medical
- Others (Mortuary, Floriculture, etc.)
Distribution Channel
- Direct Sales
- Indirect Sales
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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