Commercial Refrigeration Equipment Market Demands, Industry Size, Developments and Global Trends – Rockwell Industries, Williams, Hillphoenix, Voltas, United Technologies

The Commercial Refrigeration Equipment market is growing pervasively, witnessing an exponential growth backed by the increasing investments, competitive activities, global developments, opportunity, and business trends during forecast period 2022 to 2030.

Commercial Refrigeration Equipment Market Overview

The commercial refrigerator equipment market global industry share is expected to drive at a CAGR of 7.2% with a value of USD 17.2 billion during the forecasted year of 2022-2030. Commercial refrigeration equipment is primarily used to refrigerate food and beverages across the hypermarket, supermarket, food convenience stores, and specialty stores. They primarily include refrigerators and freezers. They are used for preserving various kinds of foods such as meat, vegetables, fruits, and other food products as they increase the shelf life of the products. Walk-in/reach-in coolers, display cases, and beverage refrigeration are the types of commercial refrigeration equipment considered in the scope of the study.

Commercial Refrigeration Equipment market demonstrates a high growth potential which is likely to attract many entrants to the market resultantly, intensifying the competition further. Manufacturers strive to develop innovative materials, and best practices. Incorporating acquisition, collaboration, partnership, and expansion the well-established players gain the competitive advantage to maintain their market position. Also, they make substantial investments in manufacturing & expansion program. Expansions help in reducing logistic cost and increase production capacities and potential to fetch larger turnovers.

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Globally Major key Players accelerates the Commercial Refrigeration Equipment Market are, Williams Refrigeration (India), EPTA (Italy), Rockwell Industries Limited (India), Voltas, Inc. (India), Kysor Warren (US), A Dover Company(US), Hillphoenix, Hussmann Corporation(US), AHT Cooling Systems GmbH (Austria), and United Technologies Corporation(US)

Most important Segments of Commercial Refrigeration Equipment market covered in this report are,

The Global Commercial Refrigeration Equipment Market is segmented based on Type and Application. On the basis of type, the walk-in/reach-in cooler segment is expected to dominate the global market. The walk-in coolers/reach-in coolers are considered the most efficient alternative for reducing electricity costs and keeping food fresh for a longer time span. The walk-in coolers/reach-in coolers, especially the compact under-counter models require less space.

On the basis of application, the supermarket segment is expected to dominate the market. Supermarkets stand for moderate capacity market stores operated on a self-service basis, fresh produce, selling groceries, bakery and dairy products, meat, and sometimes an assortment of nonfood goods. The demand for commercial refrigeration equipment in supermarkets is driven as this system helps in gaining expertise in order to achieve energy efficiency and reduce carbon footprints, without comprising on performance. This is expected to drive the growth of the supermarket segment during the forecast period.

Commercial Refrigeration Equipment Industry Influence of the global market report:

• Comprehensive assessment of all opportunities and risks in the Commercial Refrigeration Equipment Market.
• Commercial Refrigeration Equipment Market recent innovations and major events.
• A detailed study of business strategies for the growth of the Commercial Refrigeration Equipment Market market-leading players.
• Conclusive study about the growth plot of Commercial Refrigeration Equipment Market for forthcoming years.
• In-depth understanding of Commercial Refrigeration Equipment Market, market-particular drivers, constraints, and major micro markets.
• Favorable impression inside vital technological and market latest trends striking the Commercial Refrigeration Equipment Market.

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The global Commercial Refrigeration Equipment market during the period has been split into several segments and subsegments, which have then been verified through primary research by conducting extensive interviews with key experts such as CEOs VPs, directors, and executives. Finally, the global market breakdown and data triangulation procedures have been employed to complete the overall market engineering processes and functions and hence, arrive at the exact statistics for all segments and subsegments.

Regional Analysis

North America includes the US, Canada, and Mexico. The busy lifestyles of North American consumers are driving the purchase of ready to eat meals. Display cases and beverage refrigeration units are widely used to display pre-made food and beverage products for effective merchandising. The government’s concern and related regulation toward food safety are boosting the commercial refrigeration equipment market in North America.

In 2018, Asia-Pacific held the second largest market share in the commercial refrigeration equipment market. Asia-Pacific is estimated to be the fastest-growing market for commercial refrigeration during the forecast period owing to the establishment of a new supermarket, hypermarket, and organized restaurant chain in tier I and tier-II cities. In the last few years, all major multinational retail companies such as Wal-Mart and Tesco have been focusing on Asia-Pacific for market expansion. Moreover, the demand for commercial refrigeration has increased from local retail chains in countries such as China, Japan, and India. The presence of major commercial refrigeration manufacturing companies such as Voltas, Inc., Williams Refrigeration, and Rockwell Industries Limited are focusing on research and development of commercial refrigeration equipment to improve the efficiency of commercial refrigeration. In 2018, the regional market was valued at USD 2,044.3 Million, which is expected to reach USD 3,534.1 Million by 2025 with an 8.24%CAGR during the forecast period.

Europe commercial refrigeration equipment market is driven by the organized food and grocery retail industry. The growth of supermarkets and hypermarkets and food retail chains in Europe continued even during the economic slowdown. Supermarkets, hypermarkets, and grocery stores together account for a sizeable share of the commercial refrigeration equipment market in Europe. The ongoing expansion of grocery retail chains by major retailers is expected to drive the demand of the commercial refrigeration equipment market during the forecast period. The regional commercial refrigeration equipment market is expected to be valued at USD 2,143.3 million by 2025 at a CAGR of 5.57% during the forecast period.

LIST OF TABLES

TABLE 1 LIST OF ASSUMPTIONS 14

TABLE 2 LARGEST SUPERMARKET CHAIN IN THE WORLD, 2020 29

TABLE 3 GLOBAL COMMERCIAL REFRIGERATION EQUIPMENT MARKET, BY TYPE, 2020–2027 (USD MILLION) 35

TABLE 4 GLOBAL COMMERCIAL REFRIGERATION EQUIPMENT MARKET, BY APPLICATION, 2020–2027 (USD MILLION) 37

TABLE 5 GLOBAL COMMERCIAL REFRIGERATION EQUIPMENT MARKET, BY REGION, 2020–2027 (USD MILLION) 39

TABLE 6 NORTH AMERICA: COMMERCIAL REFRIGERATION EQUIPMENT MARKET, BY COUNTRY, 2020–2027 (USD MILLION) 40

TABLE 7 NORTH AMERICA: COMMERCIAL REFRIGERATION EQUIPMENT MARKET, BY TYPE, 2020–2027 (USD MILLION) 40

TABLE 8 NORTH AMERICA: COMMERCIAL REFRIGERATION EQUIPMENT MARKET, BY APPLICATION, 2020–2027 (USD MILLION) 41

TABLE 9 US: COMMERCIAL REFRIGERATION EQUIPMENT MARKET, BY TYPE, 2020–2027 (USD MILLION) 41

TABLE 10 US: COMMERCIAL REFRIGERATION EQUIPMENT MARKET, BY APPLICATION, 2020–2027 (USD MILLION) 42

TABLE 11 CANADA: COMMERCIAL REFRIGERATION EQUIPMENT MARKET, BY TYPE, 2020–2027 (USD MILLION) 42

TABLE 12 CANADA: COMMERCIAL REFRIGERATION EQUIPMENT MARKET, BY APPLICATION, 2020–2027 (USD MILLION) 43

TABLE 13 MEXICO: COMMERCIAL REFRIGERATION EQUIPMENT MARKET, BY TYPE, 2020–2027 (USD MILLION) 43

TABLE 14 MEXICO: COMMERCIAL REFRIGERATION EQUIPMENT MARKET, BY APPLICATION, 2020–2027 (USD MILLION) 44

TABLE 15 EUROPE: COMMERCIAL REFRIGERATION EQUIPMENT MARKET, BY COUNTRY, 2020–2027 (USD MILLION) 45

TABLE 16 EUROPE: COMMERCIAL REFRIGERATION EQUIPMENT MARKET, BY TYPE, 2020–2027 (USD MILLION) 45

TABLE 17 EUROPE: COMMERCIAL REFRIGERATION EQUIPMENT MARKET, BY APPLICATION, 2020–2027 (USD MILLION) 46

TABLE 18 GERMANY: COMMERCIAL REFRIGERATION EQUIPMENT MARKET, BY TYPE, 2020–2027 (USD MILLION) 46

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