Commercial refrigeration equipments are mainly used in transportation, merchandising and storage of applications. Commercial refrigeration includes refrigeration equipments that are primarily used in allied and food & beverage industries. Commercial refrigeration equipments including freezers and refrigerators have their wide application in supermarkets, hypermarkets, food service restaurants and convenience stores. Rising number of retail outlets across the globe,makes the commercial refrigeration market demanding during the projection period of 2017-2025.
Rising demand for frozen and chilled products is likely to augment the growth of the global commercial refrigeration market over the forecasted years. Moreover, rising number of electronic product manufacturers in emerging economies of Asia-Pacific, especially in China and India in-order to cope up with the growing consumer spending, is a major factor propelling the growth of commercial refrigeration market. Further down, increasing middle-class households and their changing lifestyles is further expected to augment the growth of commercial refrigeration market in the upcoming years. Rapid urbanization and increasing demand for frozen vegetables and foods has further boosted the demand of this market. Moving forward, launch of new technologies in refrigerators such as automatic temperature control, anti-short cycling and automated defrost further creates an ample growth opportunity of the commercial refrigeration market. Recently, the Refrigeration Exhibition held in China introduceda new energy monitoring cloud fridge enabled with Wi-Fi system that monitors services and maintains energy efficiency. This new refrigeration system is specially manufactured for the food and beverage and hospitality industry and is therefore a major driver of the commercial refrigeration market. Moreover, extensive use of freezers and refrigerators in commercial places such as hypermarkets, supermarkets, hotels and restaurants, further makes the market demanding during the projection period of 2017-2025.
Major application of commercial refrigeration mentioned in the report includes food & beverage retail, food service and food and beverage. The commercial refrigeration market in report is segmented by equipment type which includes transportation refrigeration equipment, refrigerators & freezers and beverage refrigeration. The beverage refrigeration equipment type is further sub-segmented as beer dispensing units, drinking fountain, beverage cooling & dispensing units, soda fountain equipment and others. Moving forward, based on end-user the commercial refrigeration market is analyzed as hypermarkets, supermarkets, E-commerce, convenience stores, hotels & restaurants and others. The global commercial refrigeration market has been moreover segmented geographically into North America, Europe, Asia-Pacific, Middle East and Africa and Latin America.
The commercial refrigeration market in Asia-Pacific will observe the highest growth in near future, owing to the rising disposable income of middle class population in countries like China and India. Moreover, in recent years, increasing purchasing power of consumers have also fueled the restaurants and food service industry in these countries. Moving forward, high demand for food & beverages service is expected to drive the North-America commercial refrigeration market during the forecast period. Innovation and renovation of production facilities by leading vendors present in North-America will further drive the growth of commercial refrigeration market in this region over the forecasted years.
Additionally, technical advancement such as multi-desk display cabinets built-in with proximity sensors and LEDs is further estimated to offer high growth prospects to the global commercial refrigeration market over the projection period. However, fluctuating fuel prices coupled with slow pace in replacement and upgradation of old refrigeration systems is expected to hamper the commercial refrigeration market in the coming years.
Some of the major players in the global commercial refrigeration marketinclude Haier, Panasonic Corporation, Whirlpool Corporation, AB Electrolux, Carrier, Dover Corporation, Hussman Corporation and Others.
Global Commercial Refrigeration Market: By Equipment Type
Global Commercial Refrigeration Market: By Application
Global Commercial Refrigeration Market: By End-User
Global Commercial Refrigeration Market: By Geography