SNS Insider said the global refrigeration components market is valued at USD 22.40 billion in 2025 and is projected to reach USD 40.18 billion by 2035, with a CAGR of 6.06% during 2026-2035. The report links the growth to demand for energy-efficient cooling systems, wider use of natural refrigerants such as CO2 and ammonia, and the expansion of cold chain logistics for food and pharmaceutical products.
According to the report, compressors accounted for the largest share by component in 2025 at 38.48% and are also expected to post the fastest growth through 2035. By application, commercial refrigeration led the market with a 39.54% share in 2025, while transport refrigeration is forecast to record the fastest CAGR at 8.77%, supported by growth in cold chain logistics for pharmaceuticals, vaccines and e-commerce grocery delivery.
By end use, food and beverage retail and processing held the largest share in 2025 at 39.22%, while healthcare and pharmaceuticals are projected to grow at the fastest rate, with a CAGR of 8.42% during the forecast period. In distribution, direct sales accounted for 54.56% of the market in 2025, and online and e-commerce platforms are expected to expand at the fastest pace through 2035.
Asia Pacific was the largest regional market in 2025, with a 35.47% share, and is projected to grow at a CAGR of 7.63%, driven by urbanization, rising food consumption and cold chain expansion in emerging economies. North America was identified as another key market, supported by demand from food processors, supermarkets and medical facilities, as well as the shift away from high-GWP refrigerants and demand for smart control systems.
The report also cited recent product activity from suppliers. Johnson Controls announced a next-generation CO2 transcritical refrigeration platform in September 2025, and Emerson introduced its Copeland digital compressor line with IoT connectivity in July 2025.
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