The commercial refrigeration equipment market size has the potential to grow by USD 12.39 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.
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This report provides a detailed analysis of the market by product (walk-in coolers, display cases, refrigerators for drinks, ice-making machines, and others), end-user (retail, restaurants, hotels, and catering units), and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including AB Electrolux, Ali Group Srl, Daikin Industries Ltd., Dover Corp., Hoshizaki Corp., Illinois Tool Works Inc., Imbera FoodService, Standex International Corp., The Middleby Corp., and Welbilt Inc.
Market Competitive Analysis
The market is fragmented, and the degree of fragmentation will remain the same during the forecast period. Vendors in the market are focusing on expanding their product lines by launching new variants of commercial refrigeration equipment, which will increase their market share and help in achieving a competitive advantage. Illinois Tool Works Inc., Imbera FoodService, Standex International Corp., The Middleby Corp., and Welbilt Inc. are some of the major market participants. Although the need to increase the storage life of food products will offer immense growth opportunities, rising preference for pre-used and rented commercial refrigeration equipment will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this commercial refrigeration equipment market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this commercial refrigeration equipment market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading companies, including:
- AB Electrolux
- Ali Group Srl
- Daikin Industries Ltd.
- Dover Corp.
- Hoshizaki Corp.
- Illinois Tool Works Inc.
- Imbera FoodService
- Standex International Corp.
- The Middleby Corp.
- Welbilt Inc.
Walk-in coolers or walk-in freezers refer to an enclosed storage space refrigerated to temperatures above or below 32 degrees Fahrenheit. These are manufactured in standard sizes and can be customized based on the end-users requirements. Moreover, the availability of such products help the vendors to meet the unique requirement of their customers.
Market growth in this segment will be slower than the growth of the market in the refrigerators for drinks segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the commercial refrigeration equipment market size.
Commercial Refrigeration Equipment Market: Key Drivers and Trends
The growing demand for frozen food across the globe is one of the major factors fueling commercial refrigeration equipment market growth. Demographic changes such as the increase in number of female workforce and the rise in income levels have surged the demand for frozen food, driving the need for commercial refrigeration equipment. The use of advanced technologies and energy-efficient refrigeration systems are major emerging commercial refrigeration equipment market trends that will further drive market growth. These equipment have operation control including anti-short cycling, automatic defrost, and temperature control which can be monitored through a digital controller. These technologies are increasingly being used with various commercial refrigeration equipment such as display cases.