A refrigerated warehouse refers to a warehouse that uses mechanical refrigeration to maintain a certain temperature and humidity inside the warehouse, in order to store goods such as food, industrial raw materials, biological products, and drugs that have special requirements for temperature and humidity. It is a type of cold storage mainly used for temporarily storing meat and aquatic products, which can keep food from spoiling within a specified time.

Overview of Market Development

At present, global cold storage construction has gradually improved, and new equipment for cold chain logistics has been widely applied, forming a pattern of cold chain warehousing as the main focus, and coordinated development of cold chain processing, transportation, distribution, and supporting facilities. According to our research data, the global refrigerated warehouse market revenue is expected to reach $33.56 billion in 2024, an increase of 8.86% compared to 2023.

In the future, with the further improvement of the cold storage business layout of major enterprises and the increasing downstream demand for refrigerated warehouses, the global refrigerated warehouse market is expected to continue to steadily expand. At the same time, the shared cold storage market is also showing a growth trend, bringing new development opportunities to the cold storage market. It is expected that by 2029, the global refrigerated warehouse market revenue will increase to $51.94 billion. The CAGR for 2024-2029 is estimated to be 9.13%.

Segmented Market Analysis

From the perspective of product types, refrigerated warehouses can usually be divided into production refrigerated warehouses, distribution refrigerated warehouses, and retail refrigerated warehouses based on their usage nature; According to the storage temperature inside the warehouse, refrigerated warehouses can be divided into two categories: high-temperature refrigerated warehouses (generally controlled at around 0℃) and low-temperature refrigerated warehouses (generally controlled at around -18℃). ‌

In addition, according to the nature of use and ownership, refrigerated warehouses can be divided into two categories: public refrigerated warehouses and private refrigerated warehouses. Among them, public refrigerated warehouses dominate the market, with an expected market share of 73.43% by 2024.

Source: www.globalmarketmonitor.com 

Market Analysis of Major Regions

From a regional perspective, the global refrigerated warehouse market is dominated by three major regions: North America, Europe, and Asia Pacific. These three major regions account for over 90% of the global total revenue from the refrigerated warehouse market. Among them, North America is the largest revenue market. Data shows that the estimated revenue of the North American refrigerated warehouse market in 2024 is $12.35 billion, and the market share is expected to reach 36.79%; The Asia Pacific and European markets are expected to rank second and third with market shares of 29.35% and 25.05%, respectively.

Regions	Market Revenue (Billion USD)	Market Share
North America	12.35	36.79%
Europe	8.41	25.05%
Asia Pacific	9.85	29.35%
South America	1.81	5.39%
Middle East & Africa	1.15	3.42%