Global Commercial Refrigeration Equipment Market
Global Commercial Refrigeration Equipment Market was valued at US$ 32,150.30 Mn in 2020, estimated to reach US$ 47,670.30 Mn in 2027, with a CAGR of 5.22% from 2021-2027.
Commercial Refrigeration is defined as the process which of removing excess heat from a source/a material to maintain the temperature lower than its surrounding. Commercial refrigeration equipments are used for preserving food like vegetables, fruits, meat, and other similar products by maintaining a specific temperature to increase the shelf life of a product.
Market Drivers
The increase in demand for frozen and processed food worldwide acts as one of the Key factors driving the growth of commercial refrigeration equipment market. Rise in international food trade, and rapid expansion of the tourism and hospitality sector drive the market growth.
Moreover, fast urbanization in developing countries and rising living standards are boosting the demand for processed and packaged food, thereby leading to higher commercial refrigeration equipment sales. Also, increasing demand for vaccine storage units all through the cold supply chain activities to retain the immunization levels.
Market Restraints
Stringent regulations against the use of fluorocarbon refrigerants is one of the main restraining factor that hamper the market growth.
The cold storage supply channel is also expected to hamper the growth of the market. Additionally, existence of a limited purification companies is acting as a restraining factor to the growth of the commercial refrigeration equipment market.
Market Segmentation
The Global Commercial Refrigeration Equipment Market is segmented into product type such as Refrigerator & Freezer, Transportation Refrigeration, Refrigerated Display Cases, Beverage Refrigeration, Ice Cream Merchandiser, Refrigerated Vending Machine. By Refrigerant Type such as Fluorocarbons, Hydrocarbons, Inorganics.
Further, market is segmented into application such as Hotels & Restaurants, Supermarkets & Hypermarkets, Convenience Stores, Bakeries.
Regional Analysis
Global Commercial Refrigeration Equipment Market is segmented into five regions such as North America, Europe, Asia Pacific, Latin America, and MEA.
The market in Asia-Pacific is projected to dominate the Commercial Refrigeration Equipment market owing to the growth of the commercial refrigeration equipment market in this region is fueled by growth in the manufacturing sector; increase in spending on private & public infrastructure development; and rapid urbanization.
North America is expected to grow at a significant growth rate due to early adoption of smart equipment in commercial kitchens in the region is also expected to work well for the market over the forecast period.
Key Players
Carrier, Emerson Electric Company, Danfoss, GEA Group, AB Electrolux, Haier Corporation, Illinois Tool Works Inc., Ingersoll-Rand Plc., Johnson Controls, Inc., Lennox International, Inc., etc.
Key Development
July 2020- METALFRIO SOLUTIONS S.A. announced to its shareholders & the market in general that the Board of Directors of the Company met and approved, in a meeting held on this date, the acquisition by the Company of 100% of the capital stock of Assets 365 Limited, an IoT & connectivity for POS refrigeration equipment company.
Market Taxonomy
By Product Type
By Refrigerant Type
By Application
Global Commercial Refrigeration Equipment Market TOC
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Commercial Refrigeration Equipment Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Commercial Refrigeration Equipment Market, By Product Type
5.1 Y-o-Y Growth Comparison, By Product Type
5.2 Global Commercial Refrigeration Equipment Market Share Analysis, By Product Type
5.3 Global Commercial Refrigeration Equipment Market Size and Forecast, By Product Type
5.3.1 Refrigerator & Freezer
5.3.2. Transportation Refrigeration
5.3.3. Refrigerated Display Cases
5.3.4. Beverage Refrigeration
5.3.5. Ice Cream Merchandiser
5.32.6. Refrigerated Vending Machine
6 Global Commercial Refrigeration Equipment Market, By Refrigerant Type
6.1 Y-o-Y Growth Comparison, By Refrigerant Type
6.2 Global Commercial Refrigeration Equipment Market Share Analysis, By Refrigerant Type
6.3 Global Commercial Refrigeration Equipment Market Size and Forecast, By Refrigerant Type
6.3.1 Fluorocarbons
6.3.2. Hydrocarbons
6.3.3. Inorganics
7 Global Commercial Refrigeration Equipment Market, By Application
7.1 Y-o-Y Growth Comparison, By Application
7.2 Global Commercial Refrigeration Equipment Market Share Analysis, By Application
7.3 Global Commercial Refrigeration Equipment Market Size and Forecast, By Application
7.3. 1 Hotels & Restaurants
7.3.2. Supermarkets & Hypermarkets
7.3.3. Convenience Stores
7.3.4. Bakeries
8 Global Commercial Refrigeration Equipment Market, By Region
8.1 Global Commercial Refrigeration Equipment Market Share Analysis, By Region
8.2 Global Commercial Refrigeration Equipment Market Share Analysis, By Region
8.3 Global Commercial Refrigeration Equipment Market Size and Forecast, By Region
9 North America Commercial Refrigeration Equipment Market Analysis and Forecast (2021-2027)
9.1 Introduction
9.2 North America Commercial Refrigeration Equipment Market Share Analysis, By Product Type
9.3 North America Commercial Refrigeration Equipment Market Size and Forecast, By Refrigerant Type
9.4 North America Commercial Refrigeration Equipment Market Size and Forecast, By Application
9.5 North America Commercial Refrigeration Equipment Market Size and Forecast, By Country
9.5.1 U.S.
9.5.2 Canada
9.5.3 Mexico
10 Europe Commercial Refrigeration Equipment Market Analysis and Forecast (2021-2027)
10.1 Introduction
10.2 Europe Commercial Refrigeration Equipment Market Share Analysis, By Product Type
10.3 Europe Commercial Refrigeration Equipment Market Size and Forecast, By Refrigerant Type
10.4 Europe Commercial Refrigeration Equipment Market Size and Forecast, By Application
10.5 Europe Commercial Refrigeration Equipment Market Size and Forecast, By Country
10.5.1 Germany
10.5.2 France
10.5.3 UK
10.54. Rest of Europe
11 Asia Pacific Commercial Refrigeration Equipment Market Analysis and Forecast (2021-2027)
11.1 Introduction
11.2 Asia Pacific Commercial Refrigeration Equipment Market Share Analysis, By Product Type
11.3 Asia Pacific Commercial Refrigeration Equipment Market Size and Forecast, By Refrigerant Type
11.4 Asia Pacific Commercial Refrigeration Equipment Market Size and Forecast, By Application
11.5 Asia Pacific Commercial Refrigeration Equipment Market Size and Forecast, By Country
11.5.1 China
11.5.2 Japan
11.5.3 India
11.5.4. Rest of Asia Pacific
12 Latin America Commercial Refrigeration Equipment Market Analysis and Forecast (2021-2027)
12.1 Introduction
12.2 Latin America Commercial Refrigeration Equipment Market Share Analysis, By Product Type
12.3 Latin America Commercial Refrigeration Equipment Market Size and Forecast, By Refrigerant Type
12.4 Latin America Commercial Refrigeration Equipment Market Size and Forecast, By Application
12.5 Latin America Commercial Refrigeration Equipment Market Size and Forecast, Country
12.5.1. Brazil
12.5.2. Rest of Latin America
13 Middle East Commercial Refrigeration Equipment Market Analysis and Forecast (2021-2027)
13.1 Introduction
13.2 Middle East Commercial Refrigeration Equipment Market Share Analysis, By Product Type
13.3 Middle East Commercial Refrigeration Equipment Market Size and Forecast, By Refrigerant Type
13.4 Middle East Commercial Refrigeration Equipment Market Size and Forecast, By Application
13.5 Middle East Commercial Refrigeration Equipment Market Size and Forecast, By Country
13.5.1. Saudi Arabia
13.5.2. UAE
13.5.3. Egypt
13.5.4. Kuwait
13.5.5. South Africa
14 Competitive Analysis
14.1 Competition Dashboard
14.2 Market share Analysis of Top Vendors
14.3 Key Development Strategies
15 Company Profiles
15.1 Carrier
15.1.1 Overview
15.1.2 Offerings
15.1.3 Key Financials
15.1.4 Business Segment & Geographic Overview
15.1.5 Key Market Developments
15.1.6 Key Strategies
15.2. Emerson Electric Company
15.2.1 Overview
15.2.2 Offerings
15.2.3 Key Financials
15.2.4 Business Segment & Geographic Overview
15.2.5 Key Market Developments
15.2.6 Key Strategies
15.3. Danfoss
15.3.1 Overview
15.3.2 Offerings
15.3.3 Key Financials
15.3.4 Business Segment & Geographic Overview
15.3.5 Key Market Developments
15.3.6 Key Strategies
15.4 GEA Group
15.4.1 Overview
15.4.2 Offerings
15.4.3 Key Financials
15.4.4 Business Segment & Geographic Overview
15.4.5 Key Market Developments
15.4.6 Key Strategies
15.5 AB Electrolux
15.5.1 Overview
15.5.2 Offerings
15.5.3 Key Financials
15.5.4 Business Segment & Geographic Overview
15.5.5 Key Market Developments
15.5.6 Key Strategies
15.6 Haier Corporation
15.6.1 Overview
15.6.2 Offerings
15.6.3 Key Financials
15.6.4 Business Segment & Geographic Overview
15.6.5 Key Market Developments
15.6.6 Key Strategies
15.7 Illinois Tool Works Inc
15.7.1 Overview
15.7.2 Offerings
15.7.3 Key Financials
15.7.4 Business Segment & Geographic Overview
15.7.5 Key Market Developments
15.7.6 Key Strategies
15.8 Ingersoll-Rand Plc
15.8.1 Overview
15.8.2 Offerings
15.8.3 Key Financials
15.8.4 Business Segment & Geographic Overview
15.8.5 Key Market Developments
15.8.6 Key Strategies
15.9 Johnson Controls, Inc
15.9.1 Overview
15.9.2 Offerings
15.9.3 Key Financials
15.9.4 Business Segment & Geographic Overview
15.9.5 Key Market Developments
15.9.6 Key Strategies
15.10 Lennox International, Inc
15.10.1 Overview
15.10.2 Offerings
15.10.3 Key Financials
15.10.4 Business Segment & Geographic Overview
15.10.5 Key Market Developments
15.10.6 Key Strategies
