Sustainable Refrigeration Technology Market Size is valued at USD 62.1 Bn in 2024 and is predicted to reach USD 124.8 Bn by the year 2034 at a 7.5% CAGR during the forecast period for 2025-2034.
Sustainable refrigeration technologies utilize modern technology and environmentally benign refrigerants to minimize environmental effect, energy usage, and greenhouse gas emissions while preserving performance. These technologies correspond with international initiatives to eliminate high-GWP (Global Warming Potential) refrigerants, such as HFCs, propelled by rules like the Kigali Amendment to the Montreal Protocol. One of the key elements of the global movement towards greener cooling is the market for sustainable refrigeration technologies.
Additionally, by enabling real-time monitoring, predictive maintenance, and energy management, the integration of AI and IoT in refrigeration systems is revolutionizing this sector. The market for sustainable refrigeration technologies is expected to increase significantly throughout this forecast period due to ongoing technological advancements, regulatory pressure to reduce emissions, and growing consumer demand for environmentally friendly refrigeration systems.
Additionally, the market is expanding due to several factors, including regulatory pressure to reduce emissions, increasing consumer need for sustainable products, and ongoing technological advancements. Furthermore, the growing number of industries using energy-efficient refrigeration is spurring innovation and advancement in this area.
The Sustainable Refrigeration Technology market is segmented based on components, equipment, technology, application, and end-user. Based on components, the market includes Equipment and Services. By equipment, the market is segmented into Chillers, Cascades, Condensing Units, Display Cabinets, and Others. By technology, the market is segmented into CO2 Refrigeration Technology, Propane Refrigeration Technology, Ammonia Refrigeration Technology, and Others. By application, the market is segmentation includes Commercial, Industrial, and Others. By end-user, the market is segmented into Cold Storage, Pharmaceutical and Biotechnology Companies, Food and Beverage, and Others.
The equipment category is expected to hold a major global market share in 2024, driven by individuals and companies who often purchase new refrigeration equipment in order to meet revised regulatory requirements. Adopting modern equipment also allows them to take advantage of advancements like natural refrigerants, sophisticated controls, and increased energy efficiency. Additionally, continuous R&D leads to regular product replacements and updates, which increase equipment sales even more. Increasingly, manufacturers are focusing on developing equipment with advanced features, including the integration of AI and IoT capabilities, as well as the use of natural refrigerants. These developments greatly increase the appeal of buying new equipment as opposed to adapting existing systems.
The market for sustainable refrigeration technology was driven by the display cabinets subsegment. This is primarily due to the fact that consumers are choosing smaller supermarkets and convenience stores over huge supermarkets, which is driving increased demand for display cabinets. Display cabinets are the most popular type, accounting for approximately half of the global market for commercial refrigeration equipment. This is because they are essential for enhancing product visibility, maintaining food quality, and complying with energy efficiency regulations.
The North American Sustainable Refrigeration Technology market held the highest market share in revenue due to various factors, consisting the expansion of the food & beverage industry, growing awareness of sustainable refrigeration technology, increasing urbanization, and technological advancements. In addition, Asia Pacific is projected to grow rapidly in the global Sustainable Refrigeration Technology market. The need for air conditioning and refrigeration systems is rising as a result of rapid economic expansion, urbanization, and industrialization in nations like China and India. Furthermore, the market is expanding in this area due to strict environmental regulations and increasing awareness of the benefits of sustainable refrigeration technology.
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Report Attribute |
Specifications |
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Market Size Value In 2024 |
USD 62.1 Bn |
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Revenue Forecast In 2034 |
USD 124.8 Bn |
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Growth Rate CAGR |
CAGR of 7.5% from 2025 to 2034 |
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Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2025 to 2034 |
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Historic Year |
2021 to 2024 |
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Forecast Year |
2025-2034 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Component, Equipment, Technology, Application, And End-Use. |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
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Competitive Landscape |
Hussmann, INTARCON, Carrier Commercial Refrigeration, Enerflex, GEA, Greencold, MAGNOTHERM, and SCM Frigo. |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Sustainable Refrigeration Technology Market Snapshot
Chapter 4. Global Sustainable Refrigeration Technology Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Porter's Five Forces Analysis
4.7. Incremental Opportunity Analysis (US$ MN), 2025-2034
4.8. Global Sustainable Refrigeration Technology Market Penetration & Growth Prospect Mapping (US$ Mn), 2024-2034
4.9. Competitive Landscape & Market Share Analysis, By Key Player (2024)
4.10. Use/impact of AI on SUSTAINABLE REFRIGERATION TECHNOLOGY MARKET Industry Trends
Chapter 5. Sustainable Refrigeration Technology Market Segmentation 1: By Component, Estimates & Trend Analysis
5.1. Market Share by Component, 2024 & 2034
5.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2021 to 2034 for the following Component:
5.2.1. Equipment
5.2.2. Services
Chapter 6. Sustainable Refrigeration Technology Market Segmentation 2: By Technology, Estimates & Trend Analysis
6.1. Market Share by Technology, 2024 & 2034
6.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2021 to 2034 for the following Technology:
6.2.1. CO2 Refrigeration Technology
6.2.2. Ammonia Refrigeration Technology
6.2.3. Propane Refrigeration Technology
6.2.4. Other Refrigeration Technologies
Chapter 7. Sustainable Refrigeration Technology Market Segmentation 3: By Equipment, Estimates & Trend Analysis
7.1. Market Share by Equipment, 2024 & 2034
7.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2021 to 2034 for the following Equipment:
7.2.1. Display Cabinets
7.2.2. Cascades
7.2.3. Condensing Units
7.2.4. Chillers
7.2.5. Other Equipment
Chapter 8. Sustainable Refrigeration Technology Market Segmentation 4: By Application, Estimates & Trend Analysis
8.1. Market Share by Application, 2024 & 2034
8.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2021 to 2034 for the following Application:
8.2.1. Commercial Applications
8.2.2. Industrial Applications
8.2.3. Other Applications
Chapter 9. Sustainable Refrigeration Technology Market Segmentation 5: By End User, Estimates & Trend Analysis
9.1. Market Share by End User, 2024 & 2034
9.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2021 to 2034 for the following End User:
9.2.1. Cold Storage
9.2.2. Food and Beverage
9.2.3. Pharmaceutical and Biotechnology Companies
9.2.4. Other End Users
Chapter 10. Sustainable Refrigeration Technology Market Segmentation 6: Regional Estimates & Trend Analysis
10.1. Global Sustainable Refrigeration Technology Market, Regional Snapshot 2024 & 2034
10.2. North America
10.2.1. North America Sustainable Refrigeration Technology Market Revenue (US$ Million) Estimates and Forecasts by Country, 2021-2034
10.2.1.1. US
10.2.1.2. Canada
10.2.2. North America Sustainable Refrigeration Technology Market Revenue (US$ Million) Estimates and Forecasts by Component, 2021-2034
10.2.3. North America Sustainable Refrigeration Technology Market Revenue (US$ Million) Estimates and Forecasts by Technology, 2021-2034
10.2.4. North America Sustainable Refrigeration Technology Market Revenue (US$ Million) Estimates and Forecasts by Equipment, 2021-2034
10.2.5. North America Sustainable Refrigeration Technology Market Revenue (US$ Million) Estimates and Forecasts by Application, 2021-2034
10.2.6. North America Sustainable Refrigeration Technology Market Revenue (US$ Million) Estimates and Forecasts by End User, 2021-2034
10.3. Europe
10.3.1. Europe Sustainable Refrigeration Technology Market Revenue (US$ Million) Estimates and Forecasts by Country, 2021-2034
10.3.1.1. Germany
10.3.1.2. U.K.
10.3.1.3. France
10.3.1.4. Italy
10.3.1.5. Spain
10.3.1.6. Rest of Europe
10.3.2. Europe Sustainable Refrigeration Technology Market Revenue (US$ Million) Estimates and Forecasts by Component, 2021-2034
10.3.3. Europe Sustainable Refrigeration Technology Market Revenue (US$ Million) Estimates and Forecasts by Technology, 2021-2034
10.3.4. Europe Sustainable Refrigeration Technology Market Revenue (US$ Million) Estimates and Forecasts by Equipment, 2021-2034
10.3.5. Europe Sustainable Refrigeration Technology Market Revenue (US$ Million) Estimates and Forecasts by Application, 2021-2034
10.3.6. Europe Sustainable Refrigeration Technology Market Revenue (US$ Million) Estimates and Forecasts by End User, 2021-2034
10.4. Asia Pacific
10.4.1. Asia Pacific Sustainable Refrigeration Technology Market Revenue (US$ Million) Estimates and Forecasts by Country, 2021-2034
10.4.1.1. India
10.4.1.2. China
10.4.1.3. Japan
10.4.1.4. Australia
10.4.1.5. South Korea
10.4.1.6. Hong Kong
10.4.1.7. Southeast Asia
10.4.1.8. Rest of Asia Pacific
10.4.2. Asia Pacific Sustainable Refrigeration Technology Market Revenue (US$ Million) Estimates and Forecasts by Component, 2021-2034
10.4.3. Asia Pacific Sustainable Refrigeration Technology Market Revenue (US$ Million) Estimates and Forecasts by Technology, 2021-2034
10.4.4. Asia Pacific Sustainable Refrigeration Technology Market Revenue (US$ Million) Estimates and Forecasts by Equipment, 2021-2034
10.4.5. Asia Pacific Sustainable Refrigeration Technology Market Revenue (US$ Million) Estimates and Forecasts By Application, 2021-2034
10.4.6. Asia Pacific Sustainable Refrigeration Technology Market Revenue (US$ Million) Estimates and Forecasts by End User, 2021-2034
10.5. Latin America
10.5.1. Latin America Sustainable Refrigeration Technology Market Revenue (US$ Million) Estimates and Forecasts by Country, 2021-2034
10.5.1.1. Brazil
10.5.1.2. Mexico
10.5.1.3. Rest of Latin America
10.5.2. Latin America Sustainable Refrigeration Technology Market Revenue (US$ Million) Estimates and Forecasts by Component, 2021-2034
10.5.3. Latin America Sustainable Refrigeration Technology Market Revenue (US$ Million) Estimates and Forecasts by Technology, 2021-2034
10.5.4. Latin America Sustainable Refrigeration Technology Market Revenue (US$ Million) Estimates and Forecasts by Equipment, 2021-2034
10.5.5. Latin America Sustainable Refrigeration Technology Market Revenue (US$ Million) Estimates and Forecasts by Application, 2021-2034
10.5.6. Latin America Sustainable Refrigeration Technology Market Revenue (US$ Million) Estimates and Forecasts by End User, 2021-2034
10.6. Middle East & Africa
10.6.1. Middle East & Africa Sustainable Refrigeration Technology Market Revenue (US$ Million) Estimates and Forecasts by country, 2021-2034
10.6.1.1. GCC Countries
10.6.1.2. Israel
10.6.1.3. South Africa
10.6.1.4. Rest of Middle East and Africa
10.6.2. Middle East & Africa Sustainable Refrigeration Technology Market Revenue (US$ Million) Estimates and Forecasts by Component, 2021-2034
10.6.3. Middle East & Africa Sustainable Refrigeration Technology Market Revenue (US$ Million) Estimates and Forecasts by Technology, 2021-2034
10.6.4. Middle East & Africa Sustainable Refrigeration Technology Market Revenue (US$ Million) Estimates and Forecasts by Equipment, 2021-2034
10.6.5. Middle East & Africa Sustainable Refrigeration Technology Market Revenue (US$ Million) Estimates and Forecasts by Application, 2021-2034
10.6.6. Middle East & Africa Sustainable Refrigeration Technology Market Revenue (US$ Million) Estimates and Forecasts by End User, 2021-2034
Chapter 11. Competitive Landscape
11.1. Major Mergers and Acquisitions/Strategic Alliances
11.2. Company Profiles
11.2.1. Carrier Commercial Refrigeration
11.2.1.1. Business Overview
11.2.1.2. Key Product/Service
11.2.1.3. Financial Performance
11.2.1.4. Geographical Presence
11.2.1.5. Recent Developments with Business Strategy
11.2.2. Enerflex
11.2.3. GEA
11.2.4. Greencold
11.2.5. Hussmann
11.2.6. INTARCON
11.2.7. MAGNOTHERM
11.2.8. SCM Frigo
Sustainable Refrigeration Technology Market By Component-
Sustainable Refrigeration Technology Market By Equipment-
Sustainable Refrigeration Technology Market By Technology-
Sustainable Refrigeration Technology Market By Application-
Sustainable Refrigeration Technology Market By End-User-
Sustainable Refrigeration Technology Market By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
To know more about the research methodology used for this study, kindly contact us/click here.
