Commercial Refrigeration Equipment Market - Global Industry Analysis

Commercial Refrigeration Equipment Market (Transport Refrigeration Equipment, Refrigerators And Freezers, Beverage Refrigerators, Parts And Others) For Food Service, Food And Beverage Production, Food And Beverage Distribution, Food And Beverage Retail, And Other Applications: Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends And Forecast, 2021 – 2028

Published Date: 17-May-2021 Category: Semiconductor & Electronics Report Format : PDF Pages: 145 Report Code: ZMR-68 Status : Published

The global commercial refrigeration equipment market accounted for USD 58.5 Billion in 2020 and is expected to reach USD 85.4 Billion by 2028, to expand at a CAGR of 6.5% from 2021 to 2028.

Description

Commercial Refrigeration Equipment Market: Overview

The global commercial refrigeration equipment market accounted for USD 58.5 Billion in 2020 and is expected to reach USD 85.4 Billion by 2028, to expand at a CAGR of 6.5% from 2021 to 2028.

The commercial refrigeration equipment market comprises HFCs and is subject to strict regulations. This can be responsible to impact its demand since HFCs have a potential for global warming. Despite, the stringent emissions standards, the industry growth continues to exhibit a bright picture in terms of producing energy-efficient systems and weightage of regulatory standards.

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COVID-19 Impact Analysis:

The global commercial refrigeration market has witnessed a paradigm shift in production owing to frequent lockdowns and restrictions. In response to the COVID-19 pandemic, production businesses have slowed down on their production capacities and are reconsidering their business models. Since consumers are forced to remain at home in the situation, it has resulted in low spending and a decrease in investments. Besides, the food retailers are now expected to cope with the volume of online demand as social distancing practices and restrictions are likely to prevail for a long. With the vaccination drive being in full throttle on a global scale, the pandemic situation is expected to alter slightly in the very near future.

Growth Factors:

The commercial refrigeration equipment market is driven by the presence of hypermarkets. Change in food consumption patterns and increase in food trade are likely to trigger market growth. Growing demand for cryogenic in the restaurant business has contributed to market development in the past few years. An increase in the emergence of eateries, cafeteria, and breweries have propelled the demand for commercial refrigeration. Availability of after-sales service in the retail industry proves advantageous for market positioning. Therefore, the shift in consumption trends and modernization of food preservation techniques thereby drives the demand for commercial refrigeration equipment market. However, increased energy consumption has contributed to the rise in climate change. The growing fuel costs pose additional challenges for market growth.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Product Type Segment Analysis Preview :

Based on product, the commercial refrigeration equipment market has been segmented into transportation refrigeration equipment, refrigerators and freezers, beverage refrigerators, parts, and others (ice machines, refrigerated vending machines, display cases, cryogenic equipment, liquid chillers, and small market products). The transportation refrigeration segment is expected to grow in the coming years accounting for more than 30% in 2019. The growing popularity of fleets for transporting refrigeration equipment is expected to contribute to segment growth.

Application Segment Analysis Preview:

The commercial refrigeration equipment market is segmented into applications such as food service, food, and beverage production, food, and beverage distribution, food and beverage retail, and others. 

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The food service application dominated in 2020 in terms of revenue and is likely to continue the dominance in the coming years. The emergence of new players in the food service industry is expected to remain pivotal for the growth of the segment. Besides, the demand for frozen and processed foods is expected to propel the growth.

Regional Analysis Preview :

Based on region, the global commercial refrigeration equipment market is segmented as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

North America held a share of about 31.67% in 2020. This is attributable to the presence of top companies. Moreover, the increasing usage of commercial refrigeration equipment is expected to generate huge demand for the market in this region. China is the world’s largest manufacturer and consumer of commercial refrigeration equipment owing to the large population and the availability of raw materials.

Key Market Players & Competitive Landscape:

Some of the key players in the commercial refrigeration equipment market are Daikin Industries, Ltd., AHT Cooling Systems GmbH, AB Electrolux, Dover Corporation, Whirlpool Corporation, Hussmann Corporation, Ingersoll Rand plc, Illinois Tool Works Inc., United Technologies Corporation (Carrier), Haier, Inc. among others.

The Global Commercial Refrigeration Equipment Market is segmented into :

By Product

  • Transport Refrigeration Equipment
  • Refrigerators and Freezers
  • Beverage Refrigerators
  • Commercial Refrigeration Equipment Parts
  • Others

By Application

  • Food Service
  • Food and Beverage Production
  • Food and Beverage Distribution
  • Food and Beverage Retail
  • Others

 By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter No. 1 Introduction
    • 1.1. Report Description
      • 1.1.1. Purpose of the Report
      • 1.1.2. USP & Key Offerings
    • 1.2. Key Benefits for Stakehulders
    • 1.3. Target Audience
    • 1.4. Report Scope
  • Chapter No. 2 Executive Summary
    • 2.1. Key Findings
      • 2.1.1. Top Investment Pockets
        • 2.1.1.1. Market Attractiveness Analysis, By Product Type
        • 2.1.1.2. Market Attractiveness Analysis, By Application
        • 2.1.1.3. Market Attractiveness Analysis, By Region
    • 2.2. Market Snapshot
    • 2.3. Global Commercial Refrigeration Equipment Market, 2016 – 2028 (USD Billion)
    • 2.4. Insights from Primary Respondents
  • Chapter No. 3 COVID-19 Impact Analysis
    • 3.1. Impact Assessment of COVID-19 Pandemic, By Region
      • 3.1.1. North America
      • 3.1.2. Europe
      • 3.1.3. Asia Pacific
      • 3.1.4. Latin America
      • 3.1.5. The Middle-East and Africa
    • 3.2. Quarterly Market Revenue and Forecast by Region 2020 & 2021
    • 3.3. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Billion)
    • 3.4. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Billion)
    • 3.5. Key Strategies Undertaken by Companies to Tackle COVID-19
      • 3.5.1. Company Quarterly Revenue Analysis, 2019 & 2020
    • 3.6. Short Term Dynamics
    • 3.7. Long Term Dynamics
  • Chapter No. 4 Commercial Refrigeration Equipment Market – Product Type Segment Analysis
    • 4.1. Overview
      • 4.1.1. Market Revenue Share, By Product Type, 2020 & 2028
    • 4.2. Transport Refrigeration Equipment
      • 4.2.1. Market Size and Forecast, By Region (USD Billion)
      • 4.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.3. Refrigerators and Freezers
      • 4.3.1. Market Size and Forecast, By Region (USD Billion)
      • 4.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.4. Beverage Refrigerators
      • 4.4.1. Market Size and Forecast, By Region (USD Billion)
      • 4.4.2. Comparative Revenue Analysis, By Country, 2021 & 2028
      • 4.4.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.5. Commercial Refrigeration Equipment Parts
      • 4.5.1. Market Size and Forecast, By Region (USD Billion)
      • 4.5.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.5.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.6. Others
      • 4.6.1. Market Size and Forecast, By Region (USD Billion)
      • 4.6.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.6.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 5 Commercial Refrigeration Equipment Market – Application Segment Analysis
    • 5.1. Overview
      • 5.1.1. Market Revenue Share, Food Service, 2020 & 2028
    • 5.2. Food and Beverage Production
      • 5.2.1. Market Size and Forecast, By Region (USD Billion)
      • 5.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.3. Food and Beverage Distribution
      • 5.3.1. Market Size and Forecast, By Region (USD Billion)
      • 5.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.4. Food and Beverage Retail
      • 5.4.1. Market Size and Forecast, By Region (USD Billion)
      • 5.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.4.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 6 Commercial Refrigeration Equipment Market – Regional Analysis
    • 6.1. Overview
      • 6.1.1. Global Market Revenue Share, By Region, 2020 & 2028
      • 6.1.2. Global Market Revenue, By Region, 2016 – 2028 (USD Billion)
    • 6.2. North America
      • 6.2.1. North America Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.2.2. North America Market Revenue, By Product Type, 2016 – 2028
      • 6.2.3. North America Market Revenue, By Application, 2016 – 2028
      • 6.2.4. U.S.
        • 6.2.4.1. U.S. Market Revenue, By Product Type, 2016 – 2028
        • 6.2.4.2. U.S. Market Revenue, By Application, 2016 – 2028
      • 6.2.5. Canada
        • 6.2.5.1. Canada Market Revenue, By Product Type, 2016 – 2028
        • 6.2.5.2. Canada Market Revenue, By Application, 2016 – 2028
      • 6.2.6. Mexico
        • 6.2.6.1. Mexico Market Revenue, By Product Type, 2016 – 2028
        • 6.2.6.2. Mexico Market Revenue, By Application, 2016 – 2028
    • 6.3. Europe
      • 6.3.1. Europe Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.3.2. Europe Market Revenue, By Product Type, 2016 – 2028
      • 6.3.3. Europe Market Revenue, By Application, 2016 – 2028
      • 6.3.4. Germany
        • 6.3.4.1. Germany Market Revenue, By Product Type, 2016 – 2028
        • 6.3.4.2. Germany Market Revenue, Application, 2016 – 2028
      • 6.3.5. France
        • 6.3.5.1. France Market Revenue, By Product Type, 2016 – 2028
        • 6.3.5.2. France Market Revenue, By Application, 2016 – 2028
      • 6.3.6. U.K.
        • 6.3.6.1. U.K. Market Revenue, By Product Type, 2016 – 2028
        • 6.3.6.2. U.K. Market Revenue, By Application, 2016 – 2028
      • 6.3.7. Italy
        • 6.3.7.1. Italy Market Revenue, By Product Type, 2016 – 2028
        • 6.3.7.2. Italy Market Revenue, By Application, 2016 – 2028
      • 6.3.8. Spain
        • 6.3.8.1. Spain Market Revenue, By Product Type, 2016 – 2028
        • 6.3.8.2. Spain Market Revenue, By Application, 2016 – 2028
      • 6.3.9. Rest of Europe
        • 6.3.9.1. Rest of Europe Market Revenue, By Product Type, 2016 – 2028
        • 6.3.9.2. Rest of Europe Market Revenue, By Application, 2016 – 2028
    • 6.4. Asia Pacific
      • 6.4.1. Asia Pacific Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.4.2. Asia Pacific Market Revenue, By Product Type, 2016 – 2028
      • 6.4.3. Asia Pacific Market Revenue, By Application, 2016 – 2028
      • 6.4.5. China
        • 6.4.5.1. China Market Revenue, By Product Type, 2016 – 2028
        • 6.4.5.2. China Market Revenue, By Application, 2016 – 2028
      • 6.4.6. Japan
        • 6.4.6.1. Japan Market Revenue, By Product Type, 2016 – 2028
        • 6.4.6.2. Japan Market Revenue, By Application, 2016 – 2028
      • 6.4.7. India
        • 6.4.7.1. India Market Revenue, By Product Type, 2016 – 2028
        • 6.4.7.2. India Market Revenue, By Application, 2016 – 2028
      • 6.4.8. South Korea
        • 6.4.8.1. South Korea Market Revenue, By Product Type, 2016 – 2028
        • 6.4.8.2. South Korea Market Revenue, By Application, 2016 – 2028
      • 6.4.9. South-East Asia
        • 6.4.9.1. South-East Asia Market Revenue, By Product Type, 2016 – 2028
        • 6.4.9.2. South-East Asia Market Revenue, By Application, 2016 – 2028
      • 6.4.10. Rest of Asia Pacific
        • 6.4.10.1. Rest of Asia Pacific Market Revenue, By Product Type, 2016 – 2028
        • 6.4.10.2. Rest of Asia Pacific Market Revenue, By Application, 2016 – 2028
    • 6.5. Latin America
      • 6.5.1. Latin America Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.5.2. Latin America Market Revenue, By Product Type, 2016 – 2028
      • 6.5.3. Latin America Market Revenue, By Application, 2016 – 2028
      • 6.5.4. Brazil
        • 6.5.4.1. Brazil Market Revenue, By Product Type, 2016 – 2028
        • 6.5.4.2. Brazil Market Revenue, By Application, 2016 – 2028
      • 6.5.5. Argentina
        • 6.5.5.1. Argentina Market Revenue, By Product Type, 2016 – 2028
        • 6.5.5.2. Argentina Market Revenue, By Application, 2016 – 2028
      • 6.5.6. Rest of Latin America
        • 6.5.6.1. Rest of Latin America Market Revenue, By Product Type, 2016 – 2028
        • 6.5.6.2. Rest of Latin America Market Revenue, By Application, 2016 – 2028
    • 6.6. The Middle-East and Africa
      • 6.6.1. The Middle-East and Africa Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.6.2. The Middle-East and Africa Market Revenue, By Product Type, 2016 – 2028
      • 6.6.3. The Middle-East and Africa Market Revenue, By Application, 2016 – 2028
      • 6.6.4. GCC Countries
        • 6.6.4.1. GCC Countries Market Revenue, By Product Type, 2016 – 2028
        • 6.6.4.2. GCC Countries Market Revenue, By Application, 2016 – 2028
      • 6.6.5. South Africa
        • 6.6.5.1. South Africa Market Revenue, By Product Type, 2016 – 2028
        • 6.6.5.2. South Africa Market Revenue, By Application, 2016 – 2028
      • 6.6.6. Rest of Middle-East Africa
        • 6.6.6.1. Rest of Middle-East Africa Market Revenue, By Product Type, 2016 – 2028
        • 6.6.6.2. Rest of Middle-East Africa Market Revenue, By Application, 2016 – 2028
  • Chapter No. 7 Commercial Refrigeration Equipment Market – Industry Analysis
    • 7.1. Introduction
    • 7.2. Market Drivers
      • 7.2.1. Driving Factor 1 Analysis
      • 7.2.2. Driving Factor 2 Analysis
    • 7.3. Market Restraints
      • 7.3.1. Restraining Factor Analysis
    • 7.4. Market Opportunities
      • 7.4.1. Market Opportunity Analysis
    • 7.5. Porter’s Five Forces Analysis
    • 7.6. PEST Analysis
    • 7.7. Regulatory Landscape
    • 7.8. Technology Landscape
    • 7.9. Regional Market Trends
      • 7.9.1. North America
      • 7.9.2. Europe
      • 7.9.3. Asia Pacific
      • 7.9.4. Latin America
      • 7.9.5. The Middle-East and Africa
    • 7.10. Pricing Analysis
    • 7.11. Value Chain Analysis
    • 7.12. Downstream Buyers
    • 7.13. Distributors/Traders List
  • Chapter No. 8 Competitive Landscape
    • 8.1. Company Market Share Analysis – 2019
      • 8.1.1. Global Commercial Refrigeration Equipment Market: Company Market Share, 2019
      • 8.1.2. Global Commercial Refrigeration Equipment Market, Company Market Revenue, 2016 – 2019 (USD Billion)
      • 8.1.3. Global Commercial Refrigeration Equipment Market, Company Y-o-Y Growth, 2017 – 2019 (%)
      • 8.1.4. Global Commercial Refrigeration Equipment Market: Radar Determinant Chart, 2019
    • 8.2. Strategic Developments
      • 8.2.1. Acquisitions & Mergers
      • 8.2.2. New Product Launch
      • 8.2.3. Regional Expansion
    • 8.3. Company Strategic Developments – Heat Map Analysis
  • Chapter No. 9 Company Profiles
    • 9.1. Daikin Industries Ltd
      • 9.1.1. Company Overview
      • 9.1.2. Key Executives
      • 9.1.3. Product Portfolio
      • 9.1.4. Financial Overview
      • 9.1.5. Operating Business Segments
      • 9.1.6. Business Performance
      • 9.1.7. Recent Developments
    • 9.2. AHT Couling Systems GmbH
    • 9.3. AB Electrulux
    • 9.4. Dover Corporation
    • 9.5. Whirlpoul Corporation
    • 9.6. Hussman Corporation
    • 9.7. Ingersull Rand Plc
    • 9.8. Illinois Toul Works Plc
    • 9.9. United Technulogies Corporation (Carrier)
    • 9.10. Haier Inc
  • Chapter No. 10 Marketing Strategy Analysis
    • 10.1. Marketing Channel
    • 10.2. Direct Marketing
    • 10.3. Indirect Marketing
    • 10.4. Marketing Channel Development Trends
    • 10.5. Economic/Pulitical Environmental Change
  • Chapter No. 11 Research Methodology
    • 11.1. Research Methodology
    • 11.2. Phase I - Secondary Research
    • 11.3. Phase II - Data Modeling
      • 11.3.1. Company Share Analysis Model
      • 11.3.2. Revenue Based Modeling
    • 11.4. Phase III - Primary Research
    • 11.5. Research Limitations
      • 11.5.1. Assumptions

Table Of Figures

List of Figures    

FIG NO. 1. Market Attractiveness Analysis, By Product 
FIG NO. 2. Market Attractiveness Analysis, By Application
FIG NO. 3. Market Attractiveness Analysis, By Region
FIG NO. 4. Global commercial refrigeration equipment market Revenue, 2021 – 2028            (USD Billion)
FIG NO. 5.  Impact of COVID-19 Pandemic in North America Countries
FIG NO. 6.  Market Revenue Share, By Product Type, 2021 & 2028
FIG NO.7.     Global commercial refrigeration equipment market for Transportation     Refrigeration, Revenue (USD Billion) 2021 – 2028
FIG NO. 8.     Comparative Revenue Analysis of commercial refrigeration equipment market for     Transportation Refrigeration, By Country, 2020 & 2028
FIG NO. 9. Global commercial refrigeration equipment market for Refrigerators and Freezers,     Revenue (USD Billion) 2021 – 2028
FIG NO. 10. Comparative Revenue Analysis of commercial refrigeration equipment market     for Refrigerators and Freezers, By Country, 2020 & 2028
FIG NO. 11. Global commercial refrigeration equipment market for Beverage Refrigerators,     Revenue (USD Billion) 2021 – 2028
FIG NO. 12 Comparative Revenue Analysis of commercial refrigeration equipment market     for Beverage Refrigerators, By Country, 2020 & 2028
FIG NO. 13. Global commercial refrigeration equipment market for Commercial Refrigeration     Equipment Parts, Revenue (USD Billion) 2021 – 2028
FIG NO.14. Comparative Revenue Analysis of commercial refrigeration equipment market     for Commercial Refrigeration Equipment Parts, By Country, 2020 & 2028
FIG NO.15.    Global commercial refrigeration equipment market for Others, Revenue (USD     Billion) 2021 – 2028
FIG NO.16. Comparative Revenue Analysis of commercial refrigeration equipment market     for others, By Country, 2020 & 2028
FIG NO.17. Market Revenue Share, By Transport Refrigeration Equipment, 2020 & 2028
FIG NO.18. Global commercial refrigeration equipment market for Food Service, Revenue     (USD Billion) 2021 – 2028
FIG NO.19. Comparative Revenue Analysis of commercial refrigeration equipment market     for Food Service, By Country, 2020 & 2028
FIG NO.20. Global commercial refrigeration equipment market for Food and Beverage     Production Revenue (USD Billion) 2021 – 2028
FIG NO.21. Comparative Revenue Analysis of commercial refrigeration equipment market     for Food and Beverage Production, By Country, 2020 & 2028
FIG NO.22. Global commercial refrigeration equipment market for Food and Beverage     Distribution, Revenue (USD Billion) 2021 – 2028
FIG NO.23. Comparative Revenue Analysis of commercial refrigeration equipment market     for Food and Beverage Distribution, By Country, 2020 & 2028
FIG NO.24. Global commercial refrigeration equipment market for Food and Beverage Retail,     Revenue (USD Billion) 2021 – 2028
FIG NO.25. Comparative Revenue Analysis of commercial refrigeration equipment market     for Food and Beverage Retail, By Country, 2020 & 2028
FIG NO.26. Global commercial refrigeration equipment market for Others, Revenue (USD     Billion) 2021 – 2028
FIG NO.27. Comparative Revenue Analysis of commercial refrigeration equipment market     for Others, By Country, 2020 & 2028
FIG NO.28. Global commercial refrigeration equipment market Revenue Share, By Region,     2020 & 2028
FIG NO.29. North America commercial refrigeration equipment market Revenue, 2016–    2028 (USD Billion)
FIG NO. 30. Porter’s Five Forces Analysis for Global commercial refrigeration equipment     market
FIG NO. 31. PEST Analysis for Global commercial refrigeration equipment market
FIG NO. 32. Pricing Analysis for Global commercial refrigeration equipment market
FIG NO. 33. Value Chain Analysis for Global commercial refrigeration equipment     market
FIG NO. 34. Company Share Analysis, 2019
FIG NO. 35. Radar Determinant Chart, 2019
FIG NO. 36. Company Strategic Developments – Heat Map Analysis
FIG NO. 37. Diakin Industries Business Segment Revenue Share, 2020 (%)
FIG NO. 38. Diakin Industries Geographical Segment Revenue Share, 2020 (%)
FIG NO. 39. Market Channels
FIG NO. 40. Marketing Channel Development Trend
FIG NO. 41. Growth in World Gross Product, 2008-2018
FIG NO. 42. Research Methodology – Detailed View
FIG NO. 43. Research Methodology
 


Table Of Tables

List of Tables    

TABLE NO. 1. Global commercial refrigeration equipment market: Snapshot
TABLE NO. 2. Quarterly commercial refrigeration equipment market Revenue by Region, 2020
TABLE NO. 3. Quarterly commercial refrigeration equipment market Revenue     Forecast by     Region, 2021
TABLE NO. 4. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Billion)
TABLE NO. 5. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Billion)
TABLE NO. 6. Global commercial refrigeration equipment market for Transport     Refrigeration Equipment, by Region, 2021 – 2028 (USD Billion)
TABLE NO. 7. Global commercial refrigeration equipment market for Refrigerators and     Freezers, by Region, 2021 – 2028 (USD Billion)
TABLE NO. 8. Global commercial refrigeration equipment market for Beverage     Refrigerators, by Region, 2021 – 2028 (USD Billion)
TABLE NO. 9. Global commercial refrigeration equipment market for Parts, by     Region,     2021 – 2028 (USD Billion)
TABLE NO. 10. Global commercial refrigeration equipment market for Food Service,by     Region, 2021 – 2028 (USD Billion)
TABLE NO. 11. Global commercial refrigeration equipment market for Food and Beverage      Distribution, by Region, 2021 – 2028 (USD Billion)
TABLE NO. 12. Global commercial refrigeration equipment market for Food and Beverage  Retail, by Region,2021 – 2028 (USD Billion)
TABLE NO. 13. Global commercial refrigeration equipment market for Others, by Region, 2021 – 2028 (USD Billion)
TABLE NO. 14. Global commercial refrigeration equipment market for Others, by Region,  2021 – 2028 (USD Billion)
TABLE NO. 15. Global commercial refrigeration equipment market Revenue, By Region,  2021 – 2028 (USD Billion)
TABLE NO. 16. North America commercial refrigeration equipment market Revenue, By  Country, 2021 – 2028 (USD Billion)
TABLE NO. 17. North America commercial refrigeration equipment market Revenue, By  Product Type, 2021 – 2028 (USD Billion)
TABLE NO. 18. North America commercial refrigeration equipment market Revenue, By   Application, 2021 – 2028 (USD Billion)
TABLE NO. 19. U.S. commercial refrigeration equipment market Revenue, By Product Type,     2021 – 2028 (USD Billion)
TABLE NO. 20. U.S. commercial refrigeration equipment market Revenue, By Application,     2021– 2028 (USD Billion)
TABLE NO. 21. Canada commercial refrigeration equipment market Revenue, By Product Type, 2021 – 2028 (USD Billion)
TABLE NO. 22.: Canada commercial refrigeration equipment market Revenue, By Application,     2021 – 2028 (USD Billion)
TABLE NO. 23. Mexico commercial refrigeration equipment market Revenue, By Product  Type, 2021 – 2028 (USD Billion)
TABLE NO. 24. Mexico commercial refrigeration equipment market Revenue, By Application, 2021 – 2028 (USD Billion)
TABLE NO. 25. Drivers for the commercial refrigeration equipment market: Impact Analysis
TABLE NO. 26. Restraints for the commercial refrigeration equipment market: Impact     Analysis
TABLE NO. 27.: Major Buyers of Commercial Refrigeration Equipment
TABLE NO. 28. Distributors/Traders List of Commercial Refrigeration Equipment
TABLE NO.29.: Global commercial refrigeration equipment market, Company Market     Revenue, 2016 – 2019 (USD Billion)
TABLE NO. 30. Global commercial refrigeration equipment market, Company Y-o-Y Growth, 2017 – 2019 (USD Billion)


 

Methodology

This report is based on in-depth qualitative and quantitative analyses of the global Commercial Refrigeration Equipment market. Zion Research has collected and analyzed key data belonging to the global Commercial Refrigeration Equipment market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.

The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.

Various parameters have been taken into account while estimating market size. The revenue generated by the leading industry participants in from the sales of Commercial Refrigeration Equipment across the world has been calculated through primary and secondary research.

Zion Research employs a combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc. 

For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in the validation of findings from secondary research and to understand key trends in the Commercial Refrigeration Equipment industry. Primary research makes up a major source of data collection and validation.   

Primary Research

We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:

  • Provides firsthand information on market size, market trends, growth trends, competitive landscape, outlook, etc.
  • Helps in validating and strengthening the secondary research findings
  • Further, develops the analysis team’s expertise and market understanding
  • Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

Participants who typically participate in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts and research analysts specializing in specific markets

Key opinion leaders specializing in different areas corresponding to different industry verticals

Secondary Research

Secondary research sources that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • IDC and other relevant magazines
  • Internal and external proprietary databases, and relevant patent and regulatory databases
  • National government documents, statistical databases and market reports

News articles, press releases and webcasts specific to companies operating in the market

Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Commercial Refrigeration Equipment market.

Models

Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:

  • Demographic data: Population split by segments
  • Macroeconomic indicators: GDP, PPP, Per Capita Income, etc.
  • Industry indicators: Expenditure, technology stage and infrastructure, sector growth and facilities
  • Data is then cross-checked by an expert panel.

Free Analysis

Refrigeration has the wide range of applications including household refrigerators, industrial freezers, cryogenics, and air conditioning. Commercial refrigeration equipment is refrigerator designed particularly for commercial use with a broad range of temperature control and self-contained condensing units. Commercial refrigeration equipment are typically used for refrigeration processes in food and beverage industry. It is used for food storage and merchandising purposes by the food wholesale industry, such as supermarkets, specialty food stores, grocery stores, and convenience stores. It is also used in restaurants and cafeterias.

Rising number of hypermarkets, specialty food stores, and supermarkets is expected to be the major drivers for the global commercial refrigeration equipment market. In addition, the changing food consumption and increasing worldwide food trade are expected to trigger the growth of commercial refrigeration in the coming years. Varying food consumption patterns, increase in the retailing of commercial refrigeration equipment are expected to be the key factors driving the global commercial refrigeration industry. Rising buy and sell purchase of frozen food items among developing countries due to changing consumption trends drives demand for commercial refrigeration equipment. However, high energy consumption limits adoption by small retailers and increasing fuel costs may pose the challenge to commercial refrigeration equipment market.

commercial refrigeration equipment Market

Based on product, commercial refrigeration equipment market has been segmented into transportation refrigeration equipment, refrigerators and freezers, beverage refrigerators, parts and others (ice machines, refrigerated vending machines, display cases, cryogenic equipment, liquid chillers, and small market products). The commercial refrigeration equipment market was dominated by transportation refrigeration equipment segment which accounted for largest share due to the increasing international food trade across the globe. Further, it is expected to continue its dominance over the forecast period.  Beverage refrigerators segment is expected to witness moderate growth due to the rising number of restaurants, especially in the fast-food segment.

The commercial refrigeration equipment market is segmented into applications such as food service, food, and beverage production, food, and beverage distribution, food and beverage retail and others. In terms of revenue, the food service application segment dominated the market in 2015.  At present, food service and food and beverage retail application are acting as drivers for the growth of the commercial refrigeration equipment market. The increase in worldwide food trade is creating the demand for frozen foods, processed foods and storing seafood across the globe.

North America is expected to remain the dominant region over the forecast period. Increasing consumer expenses is expected to encourage food industry participants to expand the number of retail restaurants in the U.S. Asia-Pacific is projected to be the fastest growing and the largest revenue contributing region in commercial refrigeration equipment market during the forecast period. It accounted for over 34% share of the entire market for commercial refrigeration equipment in 2015. Europe and Latin America are also expected to experience significant growth in the years to come.

Some of the key players in commercial refrigeration equipment market include Dover Corporation, Daikin Industries, Ltd., Whirlpool Corporation, AHT Cooling Systems GmbH, AB Electrolux, Hussmann Corporation, Ingersoll Rand plc, Illinois Tool Works Inc., United Technologies Corporation (Carrier), and Haier, Inc. among other.

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FrequentlyAsked Questions

The global Commercial Refrigeration Equipment  market was valued at USD 58.5 Billion in 2020.

The global Commercial Refrigeration Equipment  market is expected to reach USD 85.4 Billion by 2028, expanding at a CAGR of 6.5% from 2021 to 2028.

Change in food consumption patterns and increase in food trade are likely to trigger the market growth. Growing demand for cryogenic in the restaurant business have contributed to the market development in the past few years.

North America held a substantial share of the commercial refrigeration market in 2020. This is attributable to the rise in disposable income and availability of customer service in the U.S. China is world’s largest manufacturer and the consumer of commercial refrigeration equipment owing to the large population and the availability of raw material.

Some of key players in commercial refrigeration equipment market are Daikin Industries, Ltd., AHT Cooling Systems GmbH, AB Electrolux, Dover Corporation, Whirlpool Corporation, Hussmann Corporation, Ingersoll Rand plc, Illinois Tool Works Inc., United Technologies Corporation (Carrier), Haier, Inc. among others.

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