Commercial refrigeration equipment is used for preserving food such as vegetables, fruits, meat, and other similar products, by maintaining a temperature of 30C to -40C and increasing the shelf life of the product. A relatively larger share of the market for refrigerators is expected to be accounted for in the near future due to the replacement of existing equipment through energy-efficient and sustainable technology equipment. In addition, some refrigeration equipment is specially designed to rapidly reduce the temperature of hot food from around 90C to as low as 30C in a short time period to eliminate the threat of bacterial proliferation.
The rise in demand for commercial refrigeration can be attributed to the increase in demand for frozen & chilled products among the consumers due to change in lifestyle and rapid urbanization. In addition, rapid growth in the organized retail sector, such as an increase in the number of hypermarkets and supermarkets, further boosts the overall sales of commercial refrigerators; thereby leading to the growth of the market. However, the need for frequent maintenance and potential technical issues arising due to lack of proper maintenance act as major restraints for the commercial refrigeration market. Conversely, advancements in technology and rise in the number of quick-service restaurants especially in the emerging economies are expected to provide numerous opportunities for the market growth.
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The prominent players in the global commercial refrigeration market have strategically focused on acquisitions as their key strategy to gain significant share in the market. The key players operating in the global commercial refrigeration market are United Technologies Corporation, Daikin Industries Ltd., Illinois Tool Works Inc. (ITW), Johnson Controls International Plc, Dover Corporation, AB Electrolux, Panasonic Corporation, Ali Group Srl, Frigoglass S.A.I.C., and Haier Electronics Group Co., Ltd.
The report segments the commercial refrigeration market based on product type, end-user, and region. Based on product type, the market is divided into deep freezers, bottle coolers, storage water coolers, commercial kitchen refrigeration, medical refrigeration, chest refrigeration, and others. The other subsegment includes ice cubes, bottled water dispenser, visi coolers, refrigerated display cases, and beer dispensers. On the basis of end-user, it is classified into full-service restaurant & hotels, food processing industry, hospitals, retail pharmacies, supermarket/hypermarket, convenience stores, quick-service restaurants, and others. The others sub-segment comprises catering services, institutional catering, event services, bakery, bars and pubs. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific is expected to dominate the global commercial refrigeration market during the forecast period.
KEY MARKET SEGMENTS
• By Product Type
o Deep Freezers
o Bottle Coolers
o Storage Water Coolers
o Commercial Kitchen Refrigeration
o Medical Refrigeration
o Chest Refrigeration
• By End-User
o Full Service Restaurant & Hotels
o Food Processing Industry
o Retail Pharmacies
o Convenience Stores
o Quick Service Restaurants
The Commercial Refrigeration Market Report allows you to:
– Formulate significant Commercial Refrigeration competitor information, analysis, and insights to improve R&D strategies
– Identify emerging Commercial Refrigeration players with the potentially strong product portfolio and create effective counter-strategies to gain competitive advantage
– Identify and understand important and diverse types of Commercial Refrigeration under development
– Develop global Commercial Refrigeration market-entry and market expansion strategies
– Plan mergers and acquisitions effectively by identifying major Commercial Refrigeration players with the most promising pipeline
– In-depth analysis of the product’s current stage of Commercial Refrigeration development, territory and estimated launch date
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The report analyzes factors affecting market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, Asia-Pacific, South America, Middle East, and Africa after evaluating political, economic, social and technological factors affecting the market in these regions.
Global Commercial Refrigeration Market study covers market space, opportunities and risks faced by most vendors from the Commercial Refrigeration Market, chances, and promote risk and market review of this Market.
Reason to Buy
To describe define and analyses the Commercial Refrigeration Industry centered on product type, application, and region.
To forecast and analyses the Global Commercial Refrigeration market at country-level in each region.
To analyze each Sub-market with respect to individual growth trends and its particular participation to the Commercial Refrigeration Market.
To strategically profile key players in the Commercial Refrigeration Industry and comprehensively analyze their growth strategies
To identify important Commercial Refrigeration market Trends and factors driving or preventing the growth of the market.
To examine changes in the Commercial Refrigeration Industry for investors by identifying high-growth segments of the market.
To assess competitive progress for example Expansions, risks, brand new services/products launches, and acquisitions in the Commercial Refrigeration Industry.
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