US-based companies such as Carrier Corporation, The Middleby Corporation, Emerson Electric Co., and Welbilt are promising commercial refrigeration equipment market players.
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Commercial refrigeration equipment consists of freezers and refrigerators used in supermarkets and other commercial establishments where products require refrigeration. The commercial refrigeration equipment market is anticipated to expand at a 5.1% CAGR between 2022 and 2030. Changes in global dietary practices have increased the demand for commercial refrigerators in supermarkets, while pharmaceutical companies are also using the equipment to preserve chemicals.
The hospitality industry also uses large refrigerators to prevent food waste.
The COVID-19 pandemic had a devastating impact on the hospitality industry, as major hotels and restaurants were forced to close due to strict government restrictions. The pandemic had a significant impact on commercial refrigeration equipment demand. But the increase in tourists after the pandemic is a good thing that the hospitality industry is happy about. As more tourists go to hotels and restaurants, the demand for commercial refrigeration units goes up.
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Changes in food consumption patterns are a major factor driving the demand for commercial refrigeration equipment. As healthy eating becomes increasingly popular, frozen fruits and vegetables are in high demand. For a better quality of life, people are also migrating to urban areas, which increases food consumption and necessitates various food preservation services and solutions. In recent years, busy schedules and a return to the "hustle" culture have led to more packaged food, which needs refrigeration units to stay fresh.
Despite the growth factors, stringent environmental regulations enforced by governments across the globe may hinder the rise of the commercial refrigeration equipment market. The use of fluorocarbons in refrigerators has been linked to ozone layer depletion. Because of this, many parts of the world have banned or put limits on refrigeration units that use toxic gases.
Though the ban on fluorocarbons and derived gases may impede the growth of the commercial refrigeration equipment market, there’s a beneficial opportunity for companies to manufacture green refrigeration units. Several big names in the industry have already put in a lot of work and money to make it possible for research and development to go well and bring new ideas to the commercial refrigeration market.
The market for commercial refrigeration equipment is segmented based on application type, product type, refrigerant type, and region. Other factors, such as beverages, frozen food products, dairy packages, preserved meat, etc., contribute to the constant demand for commercial refrigerators in hypermarkets. In addition, the Asia-Pacific region is anticipated to dominate the market, with China at the forefront of trends due to its expanding population and rising food supply demands. India, Japan, and South Korea all have growing populations and need more food reserves to feed them.
US-based companies such as Carrier Corporation, The Middleby Corporation, Emerson Electric Co., and Welbilt are promising commercial refrigeration equipment market players. Additionally, European businesses such as GEA Group Aktiengesellschaft, Germany; Danfoss, Denmark; Daikin Europe Group, Belgium; and AB Electrolux, Sweden, are also rising as tough contenders within the market.
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Commercial Refrigeration Equipment Market Report Coverage
Market Size in 2018
US$ ** BN
Market Size Projection in 2028
By Product, By Applications, By System Type, By Capacity
North America (US, Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Europe (U.K, Germany, Italy, France, Spain, Russia and Rest of Europe), APAC (China, Japan, India, South Korea, Australia, ASEAN and Rest of Asia Pacific), ME (GCC Countries, Israel, and Rest of Middle East) & Africa (South Africa, North Africa and Central Africa)
Key Companies Covered
Carrier Corporation, The Middleby Corporation, Emerson Electric Co, Welbilt, GEA Group Aktiengesellschaft, Germany; Danfoss, Denmark; Daikin Europe Group, Belgium; and AB Electrolux, Sweden
Transportation Refrigeration Equipment
Refrigerators & Freezers
Ice Merchandisers & Ice Vending Equipment
Food & Beverage Retail (Hypermarkets, Supermarkets, Convenience Store, Specialty Food Store, Others)
Food & Beverage Distribution
Food & Beverage Production
By System Type
Less than 50 cu. Ft
50 to 100 cu. Ft
More than 100 cu. Ft
Key questions answered in this report
COVID 19 impact analysis on global Commercial Refrigeration Equipment industry.
What are the current market trends and dynamics in the Commercial Refrigeration Equipment market and valuable opportunities for emerging players?
What is driving Commercial Refrigeration Equipment market?
What are the key challenges to market growth?
Which segment accounts for the fastest CAGR during the forecast period?
Which product type segment holds a larger market share and why?
Are low and middle-income economies investing in the Commercial Refrigeration Equipment market?
Key growth pockets on the basis of regions, types, applications, and end-users
What is the market trend and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
Unique data points of this report
Statistics on Commercial Refrigeration Equipment and spending worldwide
Recent trends across different regions in terms of adoption of Commercial Refrigeration Equipment across industries
Notable developments going on in the industry
Attractive investment proposition for segments as well as geography
Comparative scenario for all the segments for years 2018 (actual) and 2028 (forecast)
Table of Content:
1 . PREFACE
1.1. Report Description
1.1.2. Target Audience
1.1.3. Unique Selling Proposition (USP) & offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Market Research Process
1.3.2. Market Research Methodology
2 . EXECUTIVE SUMMARY
2.1. Highlights of Market
2.2. Global Market Snapshot
3 . COMMERCIAL REFRIGERATION EQUIPMENT – INDUSTRY ANALYSIS
3.1. Introduction - Market Dynamics
3.2. Market Drivers
3.3. Market Restraints
3.5. Industry Trends
3.6. Porter’s Five Force Analysis
3.7. Market Attractiveness Analysis
3.7.1 Market Attractiveness Analysis By Product
3.7.2 Market Attractiveness Analysis By Application
3.7.3 Market Attractiveness Analysis By System Type
3.7.4 Market Attractiveness Analysis By Capacity
3.7.5 Market Attractiveness Analysis By Region
4 . VALUE CHAIN ANALYSIS
4.1. Value Chain Analysis
4.2. Raw Material Analysis
4.2.1. List of Raw Materials
4.2.2. Raw Material Manufactures List
4.2.3. Price Trend of Key Raw Materials
4.3. List of Potential Buyers
4.4. Marketing Channel
4.4.1. Direct Marketing
4.4.2. Indirect Marketing
4.4.3. Marketing Channel Development Trend
5 . IMPACT ANALYSIS OF COVID-19 OUTBREAK
5.1. Impact Analysis of Covid-19 Outbreak
5.1.1. Direct Impact on Production
5.1.2. Supply Chain and Market Disruption
5.1.3. Financial Impact on Firms and Financial Markets
5.2. COVID-19 Impact Analysis by Production, Import, Export and Demand
5.3. Market: Pre V/S Post COVID-19
5.4. Estimated Impact of the Coronavirus (COVID-19) Epidemic
5.5. COVID-19: Micro and Macro Factor Analysis
6 . GLOBAL COMMERCIAL REFRIGERATION EQUIPMENT MARKET ANALYSIS BY PRODUCT
6.1 Overview by Product
6.2 Historical and Forecast Data
6.3 Analysis by Product
6.4 Transportation Refrigeration Equipment Historic and Forecast Sales by Regions
6.5 Refrigerators & Freezers Historic and Forecast Sales by Regions
6.6 Beverage Refrigeration Historic and Forecast Sales by Regions
6.7 Display Showcases Historic and Forecast Sales by Regions
6.8 Ice Merchandisers & Ice Vending Equipment Historic and Forecast Sales by Regions
6.9 Other Equipment Historic and Forecast Sales by Regions
7 . GLOBAL COMMERCIAL REFRIGERATION EQUIPMENT MARKET ANALYSIS BY APPLICATION
7.1 Overview by Application
7.2 Historical and Forecast Data
7.3 Analysis by Application
7.4 Food Service Historic and Forecast Sales by Regions
7.5 Food & Beverage Retail (Hypermarkets, Supermarkets, Convenience Store, Specialty Food Store, Others) Historic and Forecast Sales by Regions
7.6 Food & Beverage Distribution Historic and Forecast Sales by Regions
7.7 Food & Beverage Production Historic and Forecast Sales by Regions
7.8 Others Historic and Forecast Sales by Regions
8 . GLOBAL COMMERCIAL REFRIGERATION EQUIPMENT MARKET ANALYSIS BY SYSTEM TYPE
8.1 Overview by System Type
8.2 Historical and Forecast Data
8.3 Analysis by System Type
8.4 Self-contained Historic and Forecast Sales by Regions
8.5 Remotely Operated Historic and Forecast Sales by Regions
…………….. ToC continued
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