India Commercial Refrigeration Equipment Market Size & Outlook
India commercial refrigeration equipment market, 2018-2030 (US$M)
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India commercial refrigeration equipment market highlights
- The India commercial refrigeration equipment market generated a revenue of USD 1,226.4 million in 2023 and is expected to reach USD 2,110.0 million by 2030.
- The India market is expected to grow at a CAGR of 8.1% from 2024 to 2030.
- In terms of segment, other equipment was the largest revenue generating product in 2023.
- Refrigerators & Freezers is the most lucrative product segment registering the fastest growth during the forecast period.
Commercial refrigeration equipment market data book summary
| Market revenue in 2023 | USD 1,226.4 million |
| Market revenue in 2030 | USD 2,110.0 million |
| Growth rate | 8.1% (CAGR from 2023 to 2030) |
| Largest segment | Other equipment |
| Fastest growing segment | Refrigerators & Freezers |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Transportation Refrigeration Equipment, Refrigerators & Freezers, Beverage Refrigeration, Display Showcases, Ice Merchandisers & Ice Vending Equipment, Other Equipment |
| Key market players worldwide | Ashford Hospitality Trust Inc, Altus Group Ltd, Carrier Global Corp Ordinary Shares, Daikin Industries Ltd, Dover Corp, Electrolux AB ADR, Panasonic Holdings Corp, Illinois Tool Works Inc, Johnson Controls International PLC, Lennox International Inc, Whirlpool Corp |
Other key industry trends
- In terms of revenue, India accounted for 3.0% of the global commercial refrigeration equipment market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China commercial refrigeration equipment market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 2,110.0 million by 2030.
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Commercial Refrigeration Equipment Market Scope
Commercial Refrigeration Equipment Market Companies
| Name | Profile | # Employees | HQ | Website |
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India commercial refrigeration equipment market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to commercial refrigeration equipment market will help companies and investors design strategic landscapes.
Other equipment was the largest segment with a revenue share of 25.82% in 2023. Horizon Databook has segmented the India commercial refrigeration equipment market based on transportation refrigeration equipment, refrigerators & freezers, beverage refrigeration, display showcases, ice merchandisers & ice vending equipment, other equipment covering the revenue growth of each sub-segment from 2018 to 2030.
This exponential growth is attributed to the proliferating healthcare and hospitality industries in the country. Moreover, according to the All India Air Conditioning and Refrigeration Association, the refrigeration equipment market has witnessed 10% growth in the last five years.
The demand for chilling equipment has also increased owing to the rise in the number of hang-out places such as pubs, bars, cafes, and lounges, which is anticipated to fuel the demand during the forecast period.
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Target buyers of India commercial refrigeration equipment market databook
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Our clientele includes a mix of commercial refrigeration equipment market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the India commercial refrigeration equipment market , including forecasts for subscribers. This country databook contains high-level insights into India commercial refrigeration equipment market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India commercial refrigeration equipment market size, by product, 2018-2030 (US$M)
India Commercial Refrigeration Equipment Market Outlook Share, 2023 & 2030 (US$M)
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