According to the latest report from MarketsandMarkets, the global commercial refrigeration market is projected to grow from USD 51.26 billion in 2025 to USD 67.31 billion by 2030, at a compound annual growth rate (CAGR) of 5.6% during the forecast period. This market growth is primarily driven by the rising demand for efficient refrigeration solutions across industries such as food retail, HoReCa (Hotel/Restaurant/Café), pharmaceuticals, and logistics; the continued expansion of cold chain infrastructure; accelerated urbanization; and growing consumer preference for fresh and ready-to-eat food products.
By product type, transport refrigeration equipment is projected to lead the market, accounting for a 32.1% share in 2024. This growth is closely linked to the rise in global perishable goods trade and the demand for temperature-controlled logistics in food and pharmaceutical supply chains. Among refrigerant types, fluorocarbon refrigerants are expected to hold the largest market share due to their availability and performance advantages, despite regulatory pressures. However, hydrocarbon refrigerants are projected to grow at the fastest rate, with a CAGR of 10.4% during the forecast period. In terms of application, the food service segment is anticipated to dominate, driven by the expansion of restaurants, cloud kitchens, and food delivery platforms. From an end-use perspective, supermarkets and hypermarkets are forecasted to lead the market, owing to their demand for high-performance refrigeration systems to support fresh and frozen product offerings. During the forecast period, the Asia-Pacific region is expected to achieve the highest CAGR of 7.0% and capture the largest overall market share, supported by economic growth, urbanization, and investments in retail and cold chain infrastructure.
