March 29, 2020
Commercial Refrigeration Equipment

Commercial Refrigeration Equipment Market Shows a Significant Growth in Coming Period

The market for commercial refrigeration equipment is expected to reach US$ 41.5 billion by 2022, with increasing demand for frozen food and changing food consumption patterns.

The market for commercial refrigeration equipment is also expected to increase with the growing food service and cold chain industries of major countries around the world. Strong regulation of energy consumption forces retailers to replace their outdated refrigeration equipment with energy-efficient solutions. This represents a significant demand for commercial refrigeration equipment on the replacement market. High initial investment cost is the primary factor limiting the growth of these products, particularly in price-sensitive markets.

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Commercial refrigeration equipment are classified into reach-ins & walk-ins, display cases, beverage refrigeration equipment, ice machines, refrigerated, vending machines, transportation equipment, other equipment and related parts. Reach-in and walk-in systems accounted for the largest revenue share compared to other product categories and is expected to see the promising growth through the forecast period with growing number of hotels, restaurants, and production industry. The transportation equipment segment is expected to see the fastest growth through the forecast period. Beverage and vending machines are also expected to see the promising growth with changing food consumption habits. 

The foodservice industry is expected to be the fastest-growing application segment for commercial refrigeration equipment with increasing number of hotels and restaurants across the world. In addition, the considerable demand for commercial refrigeration equipment is expected from food and beverage production industry with introduction of stringent food production regulations.

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Asia Pacific accounted for the largest regional market compared to other regions and is expected to see the fastest growth over the forecast period. This growth is mainly attributed to the growing demand for commercial refrigeration equipment from India and China. North America and Europe are mature markets, and the majority of growth in these markets is expected from the replacement market. The U.S. represents largest individual market in 2014. In addition, commercial refrigeration equipment markets with growing retail and food service industries in these regions are also expected to see promising growth in South America and the Middle East.

The global commercial refrigeration equipment market is concentrated with multinational as well as regional market players. Manufacturers across the world are focusing on advanced energy efficient solutions to meet energy consumption regulations.

Based on product type commercial refrigeration equipment are classified into following categories:

  • Reach-Ins & Walk-Ins
  • Display Cases
  • Beverage Refrigeration Equipment
  • Ice Machines
  • Refrigerated Vending Machines
  • Transportation Equipment
  • Other Equipment
  • Parts

Based on end-use applications commercial refrigeration equipment market is classified into following categories:

  • Food Service
  • Food and Beverage Production Industry
  • Retail Industry (Including super market, hyper market and small size retailers)
  • Food and Beverage Distribution
  • Others

Some major players in the global commercial refrigeration equipment industry include Whirlpool Corporation, Danfoss A/S, Beverage-Air Corporation Daikin Industries, Ltd., United Technologies Corporation, Illinois Tool Works, Inc., Dover Corporation, Hussmann Corporation, Haier Inc., Ingersoll Rand Plc., Metalfrio Solutions SA, and Electrolux AB.

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David Brown

David Brown

Experienced Market Research Analyst with a demonstrated history of working in the market research industry. Skilled in Secondary Market Research, Primary Market Research, Client Interfacing. - Identify, collect and organize data for use in research projects - Provide fundamental analysis for research projects - Review data to ensure its quality and integrity - Market estimates and forecast based on homegrown forecasting models - Identifying potential titles for syndicated research projects - Analyzing, estimating and forecasting various industry/market using various analysis tools and forecasting models - Conducting secondary research - Company profiling and analyzing competitive landscape - Report writing And Quality check

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