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Commercial Walk In Freezer Market Is Projected To Reach US$ 1,105.40 Million By 2033

Commercial_Walk_in_Freezer_Market

Due to the increased import and export of packaged foods, commercial walk-in freezers are being overused. Along with a discernible rise in international food traffic, there has been an increase in demand for seafood processed meals and frozen goods.

The commercial walk in freezer market is valued at US$ 691.68 Mn as of 2023. The market is anticipated to reach a valuation of US$ 1105.40 Mn by 2033 and is expected to grow at a CAGR of 4.8% during the forecast period.

The major driver of the commercial walk in freezer market is the growth in the consumption of frozen food. The frozen food market is valued at US$ 314,285 Mn as of 2022, and is expected to register at a CAGR of 6.7% during the forecast period.

Apart from that, an increase in the growth of fast food market is also expected to surge the market growth of commercial walk in freezer.

The walk in freezers come with the ability to store a large number of frozen food and other perishable products for providing refrigeration, because of which the product has found a large number of customers in the food service and food sales sector.

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The investors are certainly counting upon the wide temperature range within which the walk in freezers can operate. With an ability to provide cooling at sub-zero temperatures, the product is expected to witness a rising number of buyers during the forecast period.

The commercial walk in freezers also assist in achieving cost-cutting criteria to an extent. These help in stock rotation, while also storing products all year round, thereby serving in industrial refrigeration.

Thus, from the insights delivered by FMI, it can be inferred that “an expanding frozen food market, coupled with the ability to help achieve cost cutting 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:

By Sales Channel:

By Region:

  • North America
  • Europe
  • Latin America
  • East Asia
  • South Asia
  • Oceania
  • Middle East and Africa

Written by Andrea Davies