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Commercial Refrigeration Equipment Market to Expand at a CAGR of 10.2 % from 2021 to 2030

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The global Commercial Refrigeration Equipment market size is expected to reach USD 53.16 billion by 2030 and is expected to expand at a CAGR of 10.2% from 2021 to 2030.

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Growth Factors

The increase in demand for items and the thriving hospitality and tourism industries are some of the factors driving the market growth. The growing environmental concerns related to the emission of harmful refrigerants such as Chlorofluorocarbons (CFC) and Hydro-chlorofluorocarbons (HCFC) have led to the implementation of regulations favoring the use of efficient alternatives in commercial refrigeration equipment globally. Under its Clean Air Act, the U.S. Environment Protection Agency (EPA) has mandated the regularized use of low Global Warming Potential (GWP) refrigerants in the equipment for the commercial sector. Such regulations are encouraging commercial refrigerator manufacturers to seek low energy consuming refrigerants to minimize the adverse effect of Greenhouse Gas (GHG) emissions. For instance, in 2020, Hiber, a brand of Ali Group S.r.l. a Socio Unico, added bidirectional IoT connectivity integrated refrigeration cabinets optimized with self-learning systems for reducing energy consumption when the equipment is not in use.

the COVID-19 catastrophe majorly disrupted the commercial foodservice industry and retail industries, adversely impacting the growth of the market for commercial refrigeration equipment. However, since December 2019, the research institutes and pharmaceutical companies have highly demanded and utilized vaccine storage refrigerators during their R&D processes to come up with a life-saving vaccine against the coronavirus.

Report Highlights

 The refrigerators and freezers segment accounted for the highest revenue share of nearly 35.0% in 2020 and is anticipated to retain its dominance over the forecast period. The thriving travel and tourism sector globally, which has encouraged the establishment of several food service joints, including restaurants, has contributed to the strong growth of the segment in recent years. The segment also covers blast chillers utilized for promptly freezing or cooling items at lower temperatures and stopping the growth of bacteria in the stored item. The widespread adoption of chillers by healthcare professionals globally, to store tissue samples of controlled tests, vaccines, and critical medicines, is also a key factor contributing to the market growth.

The self-contained segment accounted for over 85.0% of the commercial refrigeration equipment market in 2020. Easy and low-cost installation and low relocation and maintenance costs of the appliances are some of the key factors that contribute to the segment’s dominance in the market. According to the Environmental Protection Agency (EPA), in 2020, emissions from self-contained commercial refrigeration equipment accounted for nearly 26% of the total global HFC emissions. To abide by the stringent HFC emission norms, manufacturers are replacing R-404A refrigerant with R-448A refrigerant, reducing the GWP of the refrigeration equipment by up to 70%.

The 51 cu. Ft. to 100 cu. Ft. segment accounted for a revenue share of close to 50.0% of the overall market in 2020. The segment’s dominance can be attributed to the rising number of hypermarkets, specialty food stores, and supermarkets worldwide. Reach-in refrigerators are among the most rapidly deployed equipment in commercial spaces, with the most popular storage capacity being 50 cu. Ft to 75 cu. Ft. Manufacturers are offering several turn-key products that could fit well with the diverse requirements of customers.

The food and beverage distribution segment is likely to register the highest CAGR of over 15.0% from 2021 to 2030. Rapid developments in cold channel logistics and a rise in refrigerated transportation activities for shipping temperature-sensitive products to any part of the world have worked in the favor of the segment. Furthermore, the availability of cutting-edge temperature-controlled refrigerators for food trucks and other transport vehicles allows for the reliable distribution of fish, beverages, liquor, biopharmaceutical, and other perishable items to remote locations. The rising adoption of sectional refrigerated trailers by capital-intensive customers in the food & beverage distribution industry is likely to favor the growth of the segment over the forecast period.

The foodservice segment accounted for a revenue share of over 30.0% of the overall market in 2020. This can be attributed to the increasing penetration of Quick-Service Restaurants (QSRs) and food trucks in the global foodservice industry.

North America dominated the global market in 2020 and is anticipated to account for nearly 31.0% of the overall revenue share by 2030. This can be chiefly attributed to the well-established retail industry in the U.S. The strong growth of the regional market can also be attributed to the presence of several leading commercial refrigeration equipment manufacturers. The early adoption of smart equipment in commercial kitchens in the region is also expected to work well for the market over the forecast period.

Reports Coverage Details
Market Size US$ 53.16 billion by 2030
Growth Rate CAGR of 10.2% From 2021 to 2030
Base Year 2020
Forecast Period 2021 to 2030
Segments Covered Product, System Type, Capacity, Application, Region
Companies Mentioned AB Electrolux, Ali S.p.A, Carrier, DAIKIN Industries, Ltd., Dover Corporation

Key Players

  • AB Electrolux
  • Ali S.p.A
  • Carrier
  • DAIKIN Industries, Ltd.
  • Dover Corporation

Market Segmentation

  • Product Outlook
    • Transportation Refrigeration Equipment
    • Refrigerators & Freezers
    • Beverage Refrigeration
    • Display Showcases
    • Ice Merchandisers & Ice Vending Equipment
    • Other Equipment
  • System Type Outlook
    • Self-contained
    • Remotely Operated
  • Capacity Outlook
    • Less than 50 cu. Ft.
    • 51 cu. Ft. to 100 cu. Ft.
    • More than 100 cu. Ft.
  • Application Outlook
    • Food Service
    • Food & Beverage Retail
      • Hypermarkets
      • Supermarkets
      • Convenience Store
      • Specialty Food Store
      • Others
    • Food & Beverage Distribution
    • Food & Beverage Production
    • Others
  • Regional Outlook
    • North America
      • U.S.
      • Canada
    • Europe
      • Germany
      • U.K.
    • Asia Pacific
      • China
      • India
      • Japan
    • Latin America
      • Brazil
      • Mexico
    • Middle East & Africa

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Reasons to Purchase this Report:

– Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
– Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
– Market value USD Million and volume Units Million data for each segment and sub-segment
– Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
– Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Table of Contents

Chapter 1.  Introduction

1.1.  Research Objective

1.2.  Scope of the Study

1.3.  Definition

Chapter 2.  Research Methodology

2.1.  Research Approach

2.2.  Data Sources

2.3.  Assumptions & Limitations

Chapter 3.  Executive Summary

3.1.  Market Snapshot

Chapter 4.  Market Variables and Scope

4.1.  Introduction

4.2.  Market Classification and Scope

4.3.  Industry Value Chain Analysis

4.3.1.    Raw Material Procurement Analysis

4.3.2.    Sales and Distribution Channel Analysis

4.3.3.    Downstream Buyer Analysis

Chapter 5.  Market Dynamics Analysis and Trends

5.1.  Market Dynamics

5.1.1.    Market Drivers

5.1.2.    Market Restraints

5.1.3.    Market Opportunities

5.2.  Porter’s Five Forces Analysis

5.2.1.    Bargaining power of suppliers

5.2.2.    Bargaining power of buyers

5.2.3.    Threat of substitute

5.2.4.    Threat of new entrants

5.2.5.    Degree of competition

Chapter 6.  Competitive Landscape

6.1.1.    Company Market Share/Positioning Analysis

6.1.2.    Key Strategies Adopted by Players

6.1.3.    Vendor Landscape

6.1.3.1.        List of Suppliers

6.1.3.2.        List of Buyers

Chapter 7.  Global Commercial Refrigeration Equipment Market, By Product

7.1.  Commercial Refrigeration Equipment Market, by Product, 2020-2030

7.1.1.    Transportation Refrigeration Equipment

7.1.1.1.        Market Revenue and Forecast (2016-2030)

7.1.2.    Refrigerators & Freezers

7.1.2.1.        Market Revenue and Forecast (2016-2030)

7.1.3.    Beverage Refrigeration

7.1.3.1.        Market Revenue and Forecast (2016-2030)

7.1.4.    Display Showcases

7.1.4.1.        Market Revenue and Forecast (2016-2030)

7.1.5.    Ice Merchandisers & Ice Vending Equipment

7.1.5.1.        Market Revenue and Forecast (2016-2030)

7.1.6.    Other Equipment

7.1.6.1.        Market Revenue and Forecast (2016-2030)

Chapter 8.  Global Commercial Refrigeration Equipment Market, By System Type

8.1.  Commercial Refrigeration Equipment Market, by System Type, 2020-2030

8.1.1.    Self-contained

8.1.1.1.        Market Revenue and Forecast (2016-2030)

8.1.2.    Remotely Operated

8.1.2.1.        Market Revenue and Forecast (2016-2030)

Chapter 9.  Global Commercial Refrigeration Equipment Market, By Capacity

9.1.  Commercial Refrigeration Equipment Market, by Capacity, 2020-2030

9.1.1.    Less than 50 cu. Ft.

9.1.1.1.        Market Revenue and Forecast (2016-2030)

9.1.2.    51 cu. Ft. to 100 cu. Ft.

9.1.2.1.        Market Revenue and Forecast (2016-2030)

9.1.3.    More than 100 cu. Ft.

9.1.3.1.        Market Revenue and Forecast (2016-2030)

Chapter 10.      Global Commercial Refrigeration Equipment Market, By Application

10.1.        Commercial Refrigeration Equipment Market, by Application, 2020-2030

10.1.1.  Food Service

10.1.1.1.      Market Revenue and Forecast (2016-2030)

10.1.2.  Food & Beverage Retail

10.1.2.1.      Market Revenue and Forecast (2016-2030)

10.1.3.  Food & Beverage Distribution

10.1.3.1.      Market Revenue and Forecast (2016-2030)

10.1.4.  Food & Beverage Production

10.1.4.1.      Market Revenue and Forecast (2016-2030)

10.1.5.  Others

10.1.5.1.      Market Revenue and Forecast (2016-2030)

Chapter 11.      Global Commercial Refrigeration Equipment Market, Regional Estimates and Trend Forecast

11.1.        North America

11.1.1.  Market Revenue and Forecast, by Product (2016-2030)

11.1.2.  Market Revenue and Forecast, by System Type (2016-2030)

11.1.3.  Market Revenue and Forecast, by Capacity (2016-2030)

11.1.4.  Market Revenue and Forecast, by Application (2016-2030)

11.1.5.  U.S.

11.1.5.1.      Market Revenue and Forecast, by Product (2016-2030)

11.1.5.2.      Market Revenue and Forecast, by System Type (2016-2030)

11.1.5.3.      Market Revenue and Forecast, by Capacity (2016-2030)

11.1.5.4.      Market Revenue and Forecast, by Application (2016-2030)

11.1.6.  Rest of North America

11.1.6.1.      Market Revenue and Forecast, by Product (2016-2030)

11.1.6.2.      Market Revenue and Forecast, by System Type (2016-2030)

11.1.6.3.      Market Revenue and Forecast, by Capacity (2016-2030)

11.1.6.4.      Market Revenue and Forecast, by Application (2016-2030)

11.2.        Europe

11.2.1.  Market Revenue and Forecast, by Product (2016-2030)

11.2.2.  Market Revenue and Forecast, by System Type (2016-2030)

11.2.3.  Market Revenue and Forecast, by Capacity (2016-2030)

11.2.4.  Market Revenue and Forecast, by Application (2016-2030)

11.2.5.  UK

11.2.5.1.      Market Revenue and Forecast, by Product (2016-2030)

11.2.5.2.      Market Revenue and Forecast, by System Type (2016-2030)

11.2.5.3.      Market Revenue and Forecast, by Capacity (2016-2030)

11.2.5.4.      Market Revenue and Forecast, by Application (2016-2030)

11.2.6.  Germany

11.2.6.1.      Market Revenue and Forecast, by Product (2016-2030)

11.2.6.2.      Market Revenue and Forecast, by System Type (2016-2030)

11.2.6.3.      Market Revenue and Forecast, by Capacity (2016-2030)

11.2.6.4.      Market Revenue and Forecast, by Application (2016-2030)

11.2.7.  France

11.2.7.1.      Market Revenue and Forecast, by Product (2016-2030)

11.2.7.2.      Market Revenue and Forecast, by System Type (2016-2030)

11.2.7.3.      Market Revenue and Forecast, by Capacity (2016-2030)

11.2.7.4.      Market Revenue and Forecast, by Application (2016-2030)

11.2.8.  Rest of Europe

11.2.8.1.      Market Revenue and Forecast, by Product (2016-2030)

11.2.8.2.      Market Revenue and Forecast, by System Type (2016-2030)

11.2.8.3.      Market Revenue and Forecast, by Capacity (2016-2030)

11.2.8.4.      Market Revenue and Forecast, by Application (2016-2030)

11.3.        APAC

11.3.1.  Market Revenue and Forecast, by Product (2016-2030)

11.3.2.  Market Revenue and Forecast, by System Type (2016-2030)

11.3.3.  Market Revenue and Forecast, by Capacity (2016-2030)

11.3.4.  Market Revenue and Forecast, by Application (2016-2030)

11.3.5.  India

11.3.5.1.      Market Revenue and Forecast, by Product (2016-2030)

11.3.5.2.      Market Revenue and Forecast, by System Type (2016-2030)

11.3.5.3.      Market Revenue and Forecast, by Capacity (2016-2030)

11.3.5.4.      Market Revenue and Forecast, by Application (2016-2030)

11.3.6.  China

11.3.6.1.      Market Revenue and Forecast, by Product (2016-2030)

11.3.6.2.      Market Revenue and Forecast, by System Type (2016-2030)

11.3.6.3.      Market Revenue and Forecast, by Capacity (2016-2030)

11.3.6.4.      Market Revenue and Forecast, by Application (2016-2030)

11.3.7.  Japan

11.3.7.1.      Market Revenue and Forecast, by Product (2016-2030)

11.3.7.2.      Market Revenue and Forecast, by System Type (2016-2030)

11.3.7.3.      Market Revenue and Forecast, by Capacity (2016-2030)

11.3.7.4.      Market Revenue and Forecast, by Application (2016-2030)

11.3.8.  Rest of APAC

11.3.8.1.      Market Revenue and Forecast, by Product (2016-2030)

11.3.8.2.      Market Revenue and Forecast, by System Type (2016-2030)

11.3.8.3.      Market Revenue and Forecast, by Capacity (2016-2030)

11.3.8.4.      Market Revenue and Forecast, by Application (2016-2030)

11.4.        MEA

11.4.1.  Market Revenue and Forecast, by Product (2016-2030)

11.4.2.  Market Revenue and Forecast, by System Type (2016-2030)

11.4.3.  Market Revenue and Forecast, by Capacity (2016-2030)

11.4.4.  Market Revenue and Forecast, by Application (2016-2030)

11.4.5.  GCC

11.4.5.1.      Market Revenue and Forecast, by Product (2016-2030)

11.4.5.2.      Market Revenue and Forecast, by System Type (2016-2030)

11.4.5.3.      Market Revenue and Forecast, by Capacity (2016-2030)

11.4.5.4.      Market Revenue and Forecast, by Application (2016-2030)

11.4.6.  North Africa

11.4.6.1.      Market Revenue and Forecast, by Product (2016-2030)

11.4.6.2.      Market Revenue and Forecast, by System Type (2016-2030)

11.4.6.3.      Market Revenue and Forecast, by Capacity (2016-2030)

11.4.6.4.      Market Revenue and Forecast, by Application (2016-2030)

11.4.7.  South Africa

11.4.7.1.      Market Revenue and Forecast, by Product (2016-2030)

11.4.7.2.      Market Revenue and Forecast, by System Type (2016-2030)

11.4.7.3.      Market Revenue and Forecast, by Capacity (2016-2030)

11.4.7.4.      Market Revenue and Forecast, by Application (2016-2030)

11.4.8.  Rest of MEA

11.4.8.1.      Market Revenue and Forecast, by Product (2016-2030)

11.4.8.2.      Market Revenue and Forecast, by System Type (2016-2030)

11.4.8.3.      Market Revenue and Forecast, by Capacity (2016-2030)

11.4.8.4.      Market Revenue and Forecast, by Application (2016-2030)

11.5.        Latin America

11.5.1.  Market Revenue and Forecast, by Product (2016-2030)

11.5.2.  Market Revenue and Forecast, by System Type (2016-2030)

11.5.3.  Market Revenue and Forecast, by Capacity (2016-2030)

11.5.4.  Market Revenue and Forecast, by Application (2016-2030)

11.5.5.  Brazil

11.5.5.1.      Market Revenue and Forecast, by Product (2016-2030)

11.5.5.2.      Market Revenue and Forecast, by System Type (2016-2030)

11.5.5.3.      Market Revenue and Forecast, by Capacity (2016-2030)

11.5.5.4.      Market Revenue and Forecast, by Application (2016-2030)

11.5.6.  Rest of LATAM

11.5.6.1.      Market Revenue and Forecast, by Product (2016-2030)

11.5.6.2.      Market Revenue and Forecast, by System Type (2016-2030)

11.5.6.3.      Market Revenue and Forecast, by Capacity (2016-2030)

11.5.6.4.      Market Revenue and Forecast, by Application (2016-2030)

Chapter 12.  Company Profiles

12.1.              AB Electrolux

12.1.1.  Company Overview

12.1.2.  Product Offerings

12.1.3.  Financial Performance

12.1.4.  Recent Initiatives

12.2.              Ali S.p.A

12.2.1.  Company Overview

12.2.2.  Product Offerings

12.2.3.  Financial Performance

12.2.4.  Recent Initiatives

12.3.              Carrier

12.3.1.  Company Overview

12.3.2.  Product Offerings

12.3.3.  Financial Performance

12.3.4.  Recent Initiatives

12.4.              DAIKIN Industries, Ltd.

12.4.1.  Company Overview

12.4.2.  Product Offerings

12.4.3.  Financial Performance

12.4.4.  Recent Initiatives

12.5.              Dover Corporation

12.5.1.  Company Overview

12.5.2.  Product Offerings

12.5.3.  Financial Performance

12.5.4.  Recent Initiatives

Chapter 13.  Research Methodology

13.1.              Primary Research

13.2.              Secondary Research

13.3.              Assumptions

Chapter 14.  Appendix

14.1.              About Us

Glossary of Terms

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