Refrigeration Coolers Market Report Scope & Overview:

Refrigeration Coolers Market Size was valued at USD 3.60 billion in 2022 and is expected to reach USD 5.69 billion by 2030, and grow at a CAGR of 5.9% over the forecast period 2023-2030. Few factors, such as an increase in the demand for refrigerated / cold storage facilities, an increase in demand for frozen food worldwide, an increase in demand for new innovative and compact refrigerators, and a growing acceptance of refrigeration-based ecosystems, especially for commercial use, are estimated in this market in the near future.

Refrigeration Coolers Market Revenue Analysis

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  • Rising Investments in refrigerated warehouse and cold storage facilities.

  • Refrigeration coolers that are both innovative and compact are in high demand.

  • Natural refrigerant-based systems are becoming increasingly popular in a variety of commercial and industrial applications.


  • Huge installation costs associated with it.


  • Growing demand for FMCG products.


  • Lack of skilled employees along with high safety concerns.


COVID-19 has had a significant impact on the Refrigeration Coolers industry due to its negative impact on the manufacturing sector in various regions due to the epidemic closure. Indoor climate control, process cooling, and cold food technology facilities had to deal with significant decline due to disruptions in manufacturing, production, and demand and supply of refrigeration components due to sudden closure by 2020. Cooling systems process includes different cooling processes, which are important in many industrial and commercial sectors. These cooling processes require different refrigeration equipment. sudden closure has halted various manufacturing and production processes in the refrigerator market. Various component manufacturers had to deal with problems leading to the production of modern cooling technology. All of these components have had to deal with sales cuts due to challenging requirements and supply conditions. The cold food series mainly includes cooling technology used to process, store, transport, and display food. So the industries that prepare food, stores food (cold and frozen), refrigerated cars, and supermarkets are all part of the same chain. Due to the closure, the demand for cold food items has been greatly reduced, which has led to a reduction in the need for refrigerators and freezers and other items.

By Component, the Refrigeration Coolers Market is divided into Evaporators and Air coolers and Condenser. During predicting, evaporator components and air cooler are projected to play a significant role in the refrigerator cooler market. The refrigerator promotes greater commercial and industrial growth through improved refrigeration systems. These components are widely used in a number of applications, resulting in the availability of different shapes and sizes according to specific needs. A large volume cooler line is available to maintain a cold industrial and commercial environment, especially where food safety, efficiency, and reliability are paramount. In addition, these coolers offer flexibility in cold storage applications and large retail outlets such as restaurants, supermarkets, convenience stores, beverage storage, and more.

By Application, the Refrigeration Coolers Market is divided into commercial and residential. Among these, the commercial application is expected to play a major role in the refrigeration cooler market at the time of forecasting. Commercial applications cover a wide range of areas from small to large stores and refrigeration requirements from frozen to cold product in a variety of locations, including hypermarkets, small shops, convenience stores, grocery stores, tourist centers, and small stores. In supermarkets, energy consumption is generally considered complete, including HVAC building, water use, lighting, and commercial refrigeration, and heat acquisition have had a significant impact on reducing energy consumption, especially when space heating is a seasonal necessity. Therefore, here the use of refrigeration equipment plays a major role. In small stores, the rejection of heat from the display boxes may contribute to additional air-conditioning loads or provide useful heat in cooler weather conditions. All of these factors are expected to drive the market of refrigeration cooler in commercial systems.




  • Evaporators and Air coolers

  • Condenser


  • Commercial

  • Industrial

Refrigeration Coolers Market Segmentation Analysis

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APAC is expected to participate in the highest CAGR at the time of Forecast a Refrigeration Coolers market. APAC's highest market CAGR is due to increased demand for refrigeration cooling units from commercial and industrial applications in the region. APAC includes countries such as China, India, and Japan, which lead the world in having the highest capacity for refrigerated storage, and global market players are meeting strong demand from countries such as China, India, Japan and South Korea. Growth is mainly driven by frozen stockpiles, food and beverage processing, and meat and poultry processing applications. The growing population at APAC creates a huge demand for food, thus creating opportunities for food processing facilities in the market. In addition, government funding for the establishment of cold networks strengthens cold chain infrastructure across the region.


  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • South Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America


The key players in the Refrigeration Coolers Market Johnson Controls, Lennox International, Rivacold srl, Evapco, Inc, Modine Manufacturing, Lu-Ve SPA, Kelvion Holding, Güntner Limited, Thermofin, Emerson Electric, Refrion Srl, Daikin Industries, Stefani SpA, Onda SpA and Other.

Lennox International-Company Financial Analysis

Company Landscape Analysis

Refrigeration Coolers Market Report Scope:
Report Attributes Details
Market Size in 2022 US$ 3.60 Billion
Market Size by 2030 US$ 5.69 Billion
CAGR CAGR of 5.9% From 2023 to 2030
Base Year 2021
Forecast Period 2023-2030
Historical Data 2020-2021
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Type (Glycol, HFC/HFO, CO2, NH3, Others)
• By Component (Evaporators And Air Coolers, Condenser)
• By Application (Commercial, Industrial)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Johnson Controls, Lennox International, Rivacold srl, Evapco, Inc, Modine Manufacturing, Lu-Ve SPA, Kelvion Holding, Güntner Limited, Thermofin, Emerson Electric, Refrion Srl, Daikin Industries, Stefani SpA, Onda SpA and Other.
Key Market Drivers • Rising Investments in refrigerated warehouses and cold storage facilities.
• Refrigeration coolers that are both innovative and compact are in high demand.
Restraints • Huge installation costs associated with it.

Frequently Asked Questions

The Refrigeration Coolers Market size was valued at 3.4 billion in 2021 at a CAGR of 5.9%.

The key players in the Refrigeration Coolers Market Johnson Controls, Lennox International, Rivacold srl, Evapco, Inc, Modine Manufacturing, Lu-Ve SPA, Kelvion Holding, Güntner Limited, Thermofin, Emerson Electric, Refrion Srl, Daikin Industries, Stefani SpA, Onda SpA and Other.

Rising Investments in refrigerated warehouses and cold storage facilities, Refrigeration coolers that are both innovative and compact are in high demand, Natural refrigerant-based systems are becoming increasingly popular in a variety of commercial and industrial applications.

Yes, and they are Raw material vendors, Distributors/traders/wholesalers/suppliers, Regulatory authorities, including government agencies and NGO, Commercial research & development (R&D) institutions, Importers and exporters, Government organizations, research organizations, and consulting firms, Trade/Industrial associations, End-use industries.

Manufacturers, Consultants, Association, Research Institutes, private and university libraries, suppliers, and distributors of the product.

Table of Contents

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of Ukraine- Russia war

4.3 Impact of ongoing Recession

4.3.1 Introduction

4.3.2 Impact on major economies US Canada Germany France United Kingdom China Japan South Korea Rest of the World

5. Value Chain Analysis

6. Porter’s 5 forces model

7.  PEST Analysis


8. Refrigeration Coolers Market Segmentation, by type


8.2 Glycol


8.4 CO2

8.5 NH3

8.6 Others

9. Refrigeration Coolers Market Segmentation, by component

9.1 Introduction

9.2 Evaporators and Air coolers

9.3 Condenser

10. Refrigeration Coolers Market Segmentation, by application

10.1 Introduction

10.2 Commercial

10.3 Industrial

11. Regional Analysis

11.1 Introduction

11.2 North America

11.2.1 USA

11.2.2 Canada

11.2.3 Mexico

11.3 Europe

11.3.1 Germany

11.3.2 UK

11.3.3 France

11.3.4 Italy

11.3.5 Spain

11.3.6 The Netherlands

11.3.7 Rest of Europe

11.4 Asia-Pacific

11.4.1 Japan

11.4.2 South Korea

11.4.3 China

11.4.4 India

11.4.5 Australia

11.4.6 Rest of Asia-Pacific

11.5 The Middle East & Africa

11.5.1 Israel

11.5.2 UAE

11.5.3 South Africa

11.5.4 Rest

11.6 Latin America

11.6.1 Brazil

11.6.2 Argentina

11.6.3 Rest of Latin America

12 Company Profiles

12.1 Lennox International.

12.1.1 Financial

12.1.2 Products/ Services Offered

12.1.3 SWOT Analysis

12.1.4 The SNS view

12.2 Johnson Controls

12.3 Rivacold srl

12.4 Evapco, Inc

12.5 Modine Manufacturing

12.6 Lu-Ve SPA

12.7 Kelvion Holding

12.8 Güntner Limited

12.9 Thermofin

12.10 Emerson Electric

12.11 Refrion Srl

12.12 Daikin Industries

12.13 Stefani SpA

12.14 Onda SpA

13 Competitive Landscape

13.1 Competitive Benchmark

13.2 Market Share analysis

13.3 Recent Developments

14 Conclusion

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

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The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Primary Research

Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.

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Data Bank Validation

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