Commercial refrigeration equipment is used to preserve vegetables, fruits, meat, and other similar products by maintaining the temperature at 30C to 40C, thereby increasing the shelf life of the product.. In addition, some refrigeration equipment are especially designed to reduce the temperature of hot food from around 90C to as low as 30C in a short time period to inhibit bacterial proliferation.
Rise in demand for commercial refrigeration is attributed to increase in need for frozen & chilled products among consumers due to change in lifestyle and rapid urbanization. In addition, rapid growth in the organized retail sector, such as increase in number of hypermarkets and supermarkets, boosts the overall sales of commercial refrigerators, thereby augmenting the growth of the market. However, need for frequent maintenance and potential technical issues arising due to lack of proper maintenance act as the major restraints of the global commercial refrigeration market. Conversely, advancements in commercial refrigerators such as integration of artificial intelligence coupled with rise in trend of automation and surge in number of quick service restaurants in emerging economies are expected to provide remunerative opportunities for the expansion of the global market during the forecast period.
The global commercial refrigeration market is segmented into product, end user, and region. Depending on product, the market is categorized into deep freezers, bottle coolers, storage water coolers, commercial kitchen refrigeration, medical refrigeration, chest refrigeration, and others. The others subsegment includes ice cubes, bottled water dispenser, visi coolers, refrigerated display cases, and beer dispensers.
On the basis of end user, the market is fragmented into full service restaurant & hotels, food processing industry, hospitals, retail pharmacies, supermarket/hypermarket, convenience stores, quick service restaurants, and others. The others subsegment comprises catering services, institutional catering, event services, bakery, and bars & pubs. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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The prominent players in the global commercial refrigeration market have strategically focused on acquisitions as their key strategy to strengthen their foothold in the market. The key players operating in the 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 S.r.l., Frigoglass S.A.I.C., and Haier Electronics Group Co., Ltd.
Key benefits for stakeholders
– The report provides a quantitative analysis of the current market trends, estimations, and dynamics of the market size from 2018 to 2026 to identify the prevailing commercial refrigeration market opportunities.
– The key countries in all the major regions are mapped based on their market share.
– Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
– In-depth analysis of the size and segmentation assists to determine the prevailing market opportunities.
– Major countries in each region are mapped according to their revenue contribution to the global industry.
– Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players in the commercial refrigeration industry.
Key market segments
– By Product
o Deep Freezers
o Bottle Coolers
o Storage Water Coolers
o Commercial Kitchen Refrigeration
o Medical Refrigeration
o Chest Refrigeration
– End User
o Full Service Restaurant & Hotels
o Food Processing Industry
o Retail Pharmacies
o Convenience Stores
o Quick Service Restaurants
– By Region
o North America
Rest of Europe
Rest of Asia-Pacific
Rest of LAMEA
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