|
Forecast Period
|
2026-2030
|
|
Market Size (2024)
|
USD 3.87 Billion
|
|
CAGR (2025-2030)
|
5.8%
|
|
Fastest Growing
Segment
|
Beverage Refrigeration
|
|
Largest Market
|
East
|
|
Market Size (2030)
|
USD 5.42 Billion
|
Market Overview
China commercial refrigeration equipment
market was valued at USD 3.87 Billion in 2024
and is expected to reach USD 5.42 Billion by 2030 with a CAGR of 5.8% during
the forecast period. The China Commercial
Refrigeration Equipment Market is experiencing robust growth, driven by
increasing demand from the food retail, hospitality, and pharmaceutical
sectors, along with rapid urbanization and rising disposable incomes.
Key Market Drivers
Rapid Expansion of the Food and Beverage Industry
The food and beverage industry in China is
experiencing significant growth, driven by rising disposable incomes,
urbanization, and changing consumer preferences. The increasing demand for
fresh, frozen, and processed food products necessitates reliable refrigeration
solutions across supermarkets, hypermarkets, convenience stores, and food
service outlets. Additionally, the growing popularity of online food delivery
and ready-to-eat meals has further propelled the need for commercial
refrigeration equipment. As food safety regulations become stricter, businesses
are investing in advanced refrigeration systems to ensure product quality and
extend shelf life, boosting market growth.
Growth of Cold Chain Logistics and E-Commerce
The expansion of cold chain logistics in China,
supported by government initiatives and private sector investments, is a major
driver for the commercial refrigeration market. With the rise of e-commerce
platforms specializing in fresh and frozen food delivery, there is a heightened
demand for transportation refrigeration equipment, cold storage, and
refrigerated display cases. The government’s push to modernize agricultural
supply chains and reduce food wastage has also accelerated the adoption of
refrigeration technologies. As online grocery shopping gains traction,
retailers and logistics providers are increasingly investing in
energy-efficient and smart refrigeration solutions to meet consumer
expectations.
Increasing Demand for Energy-Efficient and
Eco-Friendly Refrigeration Systems
Environmental concerns and stringent energy efficiency
regulations are pushing manufacturers to develop sustainable refrigeration
solutions. The Chinese government has implemented policies promoting the use of
eco-friendly refrigerants and energy-saving technologies to reduce carbon
emissions. Businesses are increasingly adopting refrigeration systems with
inverter compressors, LED lighting, and IoT-enabled monitoring to cut
operational costs and comply with environmental standards. The shift toward natural
refrigerants like CO₂ and
hydrocarbons is also gaining momentum, driven by global sustainability trends
and regulatory pressures. This focus on green refrigeration is expected to
drive innovation and market growth in the coming years.
Download Free Sample Report
Key Market Challenges
High Initial and Maintenance Cost
Commercial refrigeration equipment requires
significant upfront investment, particularly for advanced, energy-efficient
models. Small and medium-sized enterprises (SMEs) often face financial
constraints when purchasing high-capacity refrigeration systems, limiting
market penetration. Additionally, maintenance and servicing costs can be
substantial, especially for complex systems like remotely operated
refrigeration units. The need for skilled technicians and periodic upgrades
further adds to operational expenses, posing a challenge for businesses with
tight budgets.
Stringent Regulatory and Compliance Requirements
The Chinese government has imposed strict regulations
on refrigerant usage, energy consumption, and food safety standards, which can
be challenging for manufacturers and end-users. Compliance with evolving
environmental policies, such as the Kigali Amendment to the Montreal Protocol,
requires continuous R&D investments to phase out harmful refrigerants like
HFCs. Meeting these standards while maintaining cost competitiveness is a key
challenge for market players. Additionally, regional variations in regulations
can complicate supply chain and distribution strategies.
Intense Market Competition and Price Sensitivity
The commercial refrigeration market in China is highly
competitive, with both domestic and international players vying for market
share. Price sensitivity among buyers, particularly in the retail and
hospitality sectors, leads to margin pressures for manufacturers. Local brands
often offer low-cost alternatives, making it difficult for premium
manufacturers to justify higher prices. This competition forces companies to
focus on cost optimization, sometimes at the expense of innovation, which could
hinder long-term market growth.
Key Market Trends
Adoption of Smart and IoT-Enabled Refrigeration
Systems
The integration of IoT (Internet of Things) and
AI-driven technologies in refrigeration equipment is transforming the market.
Smart refrigeration systems with real-time temperature monitoring, predictive
maintenance, and remote diagnostics are gaining popularity among retailers and
food service providers. 40% of new commercial refrigeration units now use
CO2 or hydrocarbon refrigerants (China Refrigeration Association, 2023).These
technologies help reduce energy consumption, prevent equipment failures, and
optimize inventory management. As digitalization accelerates, more businesses
are expected to adopt connected refrigeration solutions for enhanced
operational efficiency.
Rising Popularity of Modular and Customized
Refrigeration Units
Businesses are increasingly seeking flexible and
customizable refrigeration solutions to fit specific space and operational
requirements. Modular refrigeration units, which allow for easy expansion and
reconfiguration, are becoming a preferred choice for supermarkets, convenience
stores, and restaurants. Manufacturers are focusing on offering tailored
designs, including multi-temperature display cases and compact refrigeration
systems for urban retail outlets. This trend aligns with the growing demand for
space-efficient and versatile refrigeration options.
Expansion of Frozen and Chilled Food Consumption
Changing dietary habits and the increasing popularity
of frozen desserts, ready-to-cook meals, and dairy products are driving demand
for specialized refrigeration equipment. Ice cream parlors, bakeries, and
specialty food stores are investing in advanced merchandisers and freezers to
cater to consumer preferences. Frozen food sales surged to ¥560 billion
(2023), driving demand for freezers (China Cold Chain Logistics Development
Report). The trend toward premium and imported frozen foods is also
contributing to the growth of high-performance refrigeration systems in retail
and food service sectors.
Segmental Insights
Product
Insights
The China Commercial Refrigeration Equipment Market is
segmented into Transportation Refrigeration Equipment, Refrigerators &
Freezers, Beverage Refrigeration, Display Showcases, Ice Merchandisers &
Ice Vending Equipment, and Others. Among these, Refrigerators & Freezers
dominate the market due to their widespread use in supermarkets, hypermarkets,
and food service industries. The increasing demand for frozen and chilled food
products, driven by changing consumer lifestyles and urbanization, has
significantly boosted this segment. The fastest-growing segment is Beverage
Refrigeration, fueled by the rising consumption of cold beverages, including
soft drinks, beer, and dairy products. The expansion of convenience stores,
cafes, and quick-service restaurants (QSRs) has further accelerated demand for
beverage coolers and display refrigerators. Additionally, innovations such as
energy-efficient and smart refrigeration systems are propelling growth in this
segment.
System
Type Insights
The market is divided into Self-Contained and Remotely
Operated refrigeration systems. Self-Contained systems lead the market due to
their ease of installation, lower maintenance costs, and compact design, making
them ideal for small retail stores and food service outlets. These systems are
widely adopted in urban areas where space constraints are a concern. The
fastest-growing segment is Remotely Operated systems, primarily used in large
supermarkets, cold storage warehouses, and industrial refrigeration
applications. These systems offer higher energy efficiency and better
temperature control for large-scale operations. The growth of organized retail
and the expansion of cold chain logistics in China are driving demand for
remotely operated refrigeration systems.
Download Free Sample Report
Regional Insights
In the China commercial refrigeration
equipment market, East China was the leading region in the commercial
refrigeration equipment market, driven by high urbanization, a strong retail
sector, and the presence of major food & beverage companies. Cities like
Shanghai, Nanjing, and Hangzhou have a high concentration of supermarkets,
hotels, and QSR chains, boosting demand for refrigeration systems. The region’s
advanced cold chain logistics and high disposable income further contribute to
its dominance. South-West China region is experiencing
steady growth due to rising urbanization and the expansion of retail chains in
cities like Chengdu and Chongqing. The increasing penetration of convenience
stores and QSRs is boosting demand for compact refrigeration systems.
North-East China, while smaller in
market size, North-East China is witnessing growth due to the development of
cold storage for agricultural products. Government support for food
preservation and logistics is driving demand for refrigeration equipment.
Recent Developments
- In
October 2024, Haier Smart Home completed the acquisition of Carrier Commercial
Refrigeration from Carrier Global for USD 775 million. This strategic move is
expected to enhance Haier's presence in the commercial refrigeration market,
particularly in China.
- In January 2025, China
expanded its consumer trade-in program to include additional household
appliances such as microwaves, rice cookers, dishwashers, and water purifiers.
This initiative aims to stimulate domestic consumption by offering subsidies of
15-20% to consumers trading in old appliances, with an allocation of Rmb81bn (USD11
Billion) for the year.
- In March
2025, Chinese authorities announced a significant expansion of the consumer
trade-in scheme, doubling the allocation to 300 billion yuan for the year. The
program now covers a broader range of products, including household appliances,
cellphones, tablets, smartwatches, and automobiles, with subsidies ranging from
15% to 20%.
Key Market Players
- Ashford Hospitality Trust Inc.
- Lennox International Inc.
- Altus Group Ltd
- Carrier Global Corp.
- Whirlpool Corp
- Dover Corp
- Daikin Industries Ltd
- Electrolux AB ADR
- Illinois Tool Works Inc
- Johnson Controls International PLC
|
By Product
|
By System Type
|
By Capacity
|
By Region
|
- Transportation Refrigeration Equipment
- Refrigerators & Freezers
- Beverage Refrigeration
- Display Showcases
- Ice Merchandisers & Ice Vending Equipment
- Other
|
- Self-Contained
- Remotely Operated
|
- Less than 50 cu. Ft.
- 51 cu. Ft - 100 cu. Ft.
- More than 100 cu. Ft
|
- South-Central
- South-West
- East
- North-East
- North-West
- North
|
Report Scope:
In this report, the China commercial refrigeration
equipment market has been segmented into the following categories, in addition
to the industry trends which have also been detailed below:
- China Commercial
Refrigeration Equipment Market, By Product:
o Transportation Refrigeration Equipment
o Refrigerators & Freezers
o Beverage Refrigeration
o Display Showcases
o Ice Merchandisers & Ice Vending Equipment
o Other
- China Commercial
Refrigeration Equipment Market, By System Type:
o Self-Contained
o Remotely Operated
- China Commercial
Refrigeration Equipment Market, By Capacity:
o Less than 50 cu. Ft.
o 51 cu. Ft - 100 cu. Ft.
o More than 100 cu. Ft
- China Commercial
Refrigeration Equipment Market, By Region:
o South-Central
o South-West
o East
o North-East
o North-West
o North
Competitive Landscape
Company Profiles: Detailed analysis of the major companies presents
in the China commercial refrigeration equipment market.
Available Customizations:
China commercial refrigeration equipment market report
with the given market data, TechSci Research offers customizations according to
a company's specific needs. The following customization options are available
for the report:
Company Information
- Detailed analysis and
profiling of additional market players (up to five).
China Commercial Refrigeration Equipment Market is
an upcoming report to be released soon. If you wish an early delivery of this
report or want to confirm the date of release, please contact us at sales@techsciresearch.com