Future Market Insights (FMI), in its new report, estimates worldwide sales of walk-in coolers and freezers at US$ 8.6 billion in 2019. Widespread consumer acceptance of frozen and processed food, along with a steep rise in the demand for efficient refrigeration facilities to store and maintain the shelf life of these products, allude a brighter future for the walk-in coolers and freezers market.
Digitalization and smart technologies continue to influence numerous product developments and demand-side dynamics, and walk-in coolers and freezers are no exception. As consumers show marked preference for efficient yet custom-sized units, manufacturers are leveraging technological advancements to develop unique product features that fulfil specific customer requirements.
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According to the study, key players in the walk-in coolers and freezers market also remained focused on improving energy efficiency of their products, considering the continuous changes in energy conservation standards for various commercial and industrial equipment including walk-in coolers and freezers. These players are continuously putting efforts on improving quality of their offerings, while investing in innovative developments that would yield substantial improvements for customers.
- The global walk-in Coolers and Freezers market was valued ~US$ 8 Bn in 2019.
- The walk-in Coolers and Freezers market is anticipated to witness a robust growth with a CAGR of ~5% over the forecast period of 2019–2029.
- South Asia and East Asia markets are expected to remain prominent regional markets in the global walk-in Coolers and Freezers market.
- Rapid urbanization in India and China resulting in an increase in commercial restaurants and retail food outlets chain in the region, which is expected to drive the sales of walk-in Coolers and Freezers market.
- The South Asia market is expected to lead the walk-in Coolers and Freezers market in terms of CAGR growth, registering a growth of ~7% CAGR over the forecast period.
- The growth is primarily driven by growing retail food outlets and franchises, cold storage warehouses, and restaurant chains in India and other ASEAN countries.
- The commercial kitchen & restaurants segment is anticipated to create prominent demand for walk-in coolers & freezers, followed by retail food & beverage outlets.
A paucity of time among today’s consumers has been paving greater grounds for frozen foods and ready-to-eat meals. As large businesses emphasize stock rotation and product integrity, walk-in coolers and freezers that suit to specific requirements will remain pre-requisites in the foreseeable future. End-user preference for tailor-made walk-in coolers and freezers continues to push developmental efforts of manufacturers to suit specific dimensions and workspace.
Manufacturers are also focusing on the development of low GWP walk-in coolers and freezers for remaining compliant with the government regulations on environment conservation. All these collectively remain key imperatives for success in the walk-in coolers and freezers landscape.
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By Segment:
Product Type
- Walk-in Cooler
- Walk-in Freezer
- Combo (Freezer + Cooler)
Place of Use
- Indoor
- Outdoor
Technology
- Self-Contained
- Remote Condensing
- Multiplex Condensing
Door Type
- Hinged
- Power Sliding
- Manual Sliding
Application
- Cold Storage Warehouse
- Breweries
- Commercial Kitchen & Restaurants
- Floral Storage
- Pharmaceuticals
- Chemicals
- Research laboratories
- Hospitals & Mortuaries
- Mobile Refrigeration System
- Retail Food & Beverage
- Supermarket
- Hypermarket
- Convenience Stores
- Other Stores
Sales Channel
- OEM
- Aftermarket
Mounting Type
- Floor
- Non-floor
Region
- North America
- Europe
- Latin America
- South Asia
- Oceania
- East Asia
- Middle East & Africa (MEA)
Digitalization has become a pervasive trend among industry sectors, influencing refrigeration solution providers to focus on smart and energy-efficient product developments. The walk-in coolers and freezers landscape continues to witness the exploration of new technologies in areas such as temperature and operation controls.
Addition of unique product features, particularly safety sensors and smart functions, is being highly prioritized. Introduction of stricter laws by governments, apropos of ebbing and managing GHG emissions from refrigerants has led manufacturers to make R&D investments dedicated to production of eco-friendly solutions.
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Market Key Player:
- Arctic Walk in Cooler & Freezers
- Beverage-Air Corporation
- Delfield
- Haier
- FRIGINOX –
- Hussmann Corporation
- Imbera Foodservice
- Imperial Manufacturing Group
- Panasonic
- Precision Refrigeration
- SRC Refrigera
Customized walk-in Coolers and Freezers are gaining prominence among end-use customers. Every customer and application require a different product, designed to fulfill specific set of industrial process conditions. Walk-in coolers & freezer manufacturers are shifting their focus to develop customized products to better suit the customer needs in pharmaceutical, chemical, manufacturing, and petrochemical industries.
Unlike standard walk-in coolers & freezers, customized products provide flexibility and tailor-made options as per specific requirement of end users. The increasing trend towards preference of customized walk-in Coolers and Freezers by end-use industries is expected to drive manufacturers to develop and deliver customized refrigerants.