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Commercial Refrigeration Market (Product Type - Beverage Refrigerators, Chillers, Display Cases, Walk in Coolers, Freezers & Refrigerators, and Others; Application - Food & Beverage Industry, Food & Beverage Distribution, Food Service, Retail Industry, and Medical Industry): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

  • Published : May, 2021

  • Rep Id : CGP00132

  • Category : Consumer Goods and Packaging

  • Status : Published

A recent report published by Infinium Global Research on the commercial refrigeration market provides in-depth analysis of segments and sub-segments in the global as well as regional commercial refrigeration market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional commercial refrigeration market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global commercial refrigeration market. According to the report, the global commercial refrigeration market is projected to grow at a CAGR of 5.0% over the forecast period of 2020-2026.

 

Market Insight

Commercial refrigeration is a process by which heat is removed from a room or space to cool or freeze for storing food, beverages, medicines, and other products requiring storage at specific temperatures. Commercial refrigeration helps in maintaining the freshness and quality of the food products. It helps in preserving perishable food items for a longer period. Commercial refrigeration is used in industries such as hospitality, food & beverages, food service, transportation, retail, and pharmaceuticals among others. Ammonia, carbon dioxide, CFC, HCFC, HFC, HFO, and propane among others are the major refrigerant types used for commercial refrigeration.


The commercial refrigeration market is less likely to be affected by the COVID 19 pandemic. As the major end-users of commercial refrigeration such as food retail and pharmacies remain unaffected during the COVID 19 pandemic, the market for commercial refrigeration is expected to remain stable. Moreover, the demand for commercial refrigeration from the medical industry has increased substantially during the pandemic. This higher demand is associated with the growing demand for medical supplies such as drugs, vaccines, and biological reagents. However, the production of commercial refrigeration systems is anticipated to be affected in the initial quarter of 2020 due to social distancing regulations. Nonetheless, the companies are expected to ramp up production over the latter quarter of the financial year to meet the existing demand. Many such companies have also revised their financial guideline for 2020. Furthermore, as the cold chain supply is anticipated to expand, the demand for commercial refrigeration systems are expected to gradually increase over the forecast years.

 

Increasing investments in R&D activities, product innovation, and entry of smaller players in matured economies characterize the global commercial refrigeration market. Changing the lifestyle of consumers, increasing the number of female professionals, increasing demand for packaged foods & beverages drive the growth of the commercial refrigeration market. Increasing demand for frozen food and vegetables in various countries to cope up with the hectic work schedule, drive the growth of the commercial refrigeration market. Moreover, the introduction of zero-emission refrigeration systems for transportation is expected to drive the growth of the commercial refrigeration market, as it could improve the supply chain of food & beverages and retail sectors. The energy-efficient commercial refrigeration systems with good cooling capacities generate demand from the hospitality sector. The strict regulations regarding the use of toxic refrigerants and the promotion of eco-friendly refrigerants by governments are anticipated to drive the growth of the commercial refrigeration market. The introduction and adoption of advanced technologies in monitoring and controlling refrigeration systems through predetermined settings or remotely through Wi-Fi-enabled systems are expected to generate demand from the food & beverages and hospitality sectors. Moreover, the introduction of eco-friendly refrigerants, cascade refrigeration systems based on variable speed compressors, and other energy-efficient refrigeration systems are anticipated to further enhance the growth of the commercial refrigeration market during the forecast period. On the contrary, fluctuating fuel prices, slow pace in up-gradation, and replacement of old commercial refrigeration systems are the major restraints for the growth of the global commercial refrigeration market.

 

Among geographies, North America is the largest commercial refrigeration market, followed by Asia–Pacific and Europe. Asia-Pacific region is anticipated to become the fastest-growing commercial refrigeration market. The change in lifestyle of consumers, their preference for dining food outside the home more, and the significant growth in the food & service industry due to increasing sales, innovations as well as renovations of facilities are the factors that drive the growth of the North American commercial refrigeration market. The growth in the retail sector and increasing demand for frozen food are driving the growth of the European commercial refrigeration market. Increasing middle-class population with disposable income, expanding food and retail industries, and increasing consumption of convenience food and beverages, are anticipated to drive the Asia-Pacific commercial refrigeration market.

 

Commercial Refrigeration Market

Segment Covered

The report on global commercial refrigeration market covers segments such as product type, and application. On the basis of product type, the sub-markets include beverage refrigerators, chillers, display cases, walk in coolers, freezers & refrigerators, and others. On the basis of application, the sub-markets include food & beverage industry, food & beverage distribution, food service, retail industry, and medical industry.

 

Companies Profiled:

The report provides profiles of the companies in the market such as AB Electrolux, AHT Cooling Systems GmbH, Carrier Corporation, Daikin Industries, Ltd., Danfoss A/S, Dover Corporation, Haier lnc., Panasonic Corporation, Whirlpool Corporation, and Ingersoll-Rand plc.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of commercial refrigeration market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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