Commercial Refrigeration Equipment Market by Product, End-user, and Geography - Forecast and Analysis 2021-2025

  • Published: Mar 2021
  • Pages: 120
  • SKU: IRTNTR40420

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The commercial refrigeration equipment market has the potential to grow by USD 15.13 billion during 2021-2025, and the market’s growth momentum will decelerate at a CAGR of 7.50%.

This commercial refrigeration equipment market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report provides extensive insights on segmentation by product (walk-in coolers, display cases, refrigerator for drinks, ice-making machines, and others), end-user (retail, restaurants, hotels, and catering units), and geography (APAC, Europe, North America, MEA, and South America). The report also offers information on several market vendors, including AB Electrolux, Ali Group Srl, and Daikin Industries Ltd., among others.

What will the Commercial Refrigeration Equipment Market Size be in 2021?

Commercial-Refrigeration-Equipment-Market-Market-Size-2020-2025

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Commercial Refrigeration Equipment Market: Key Drivers and Trends

Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The need to increase the storage life of food products is notably driving the commercial refrigeration equipment market growth, although factors such as rising preference for pre-used and rented commercial refrigeration equipment may impede market growth. To unlock information on the key market drivers and the COVID-19 pandemic impact on the commercial refrigeration equipment industry get your FREE report sample now.

  • The growing demand for frozen food across the globe is one of the major factors fueling the growth of commercial refrigeration equipment market size.
  • Demographic changes such as the increase in the number of the 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.
  • The equipment has operation control including anti-short cycling, automatic defrost, and temperature control which can be monitored through a digital controller.
  • End-users highly prefer to use commercial refrigeration equipment that provides cost-saving benefits in terms of energy consumption.
  • Commercial refrigeration equipment having ENERGY-STAR certification provides an average of 20% more energy efficient than the standard commercial refrigeration equipment.
  • The growing demand for energy-efficient models of commercial refrigeration is one of the key commercial refrigeration equipment market trends as it helps in reducing energy consumption and utility bills.
  • To deliver optimum efficiency, companies have started offering ENERGY STAR-certified refrigeration equipment.

This commercial refrigeration equipment market analysis report also provides detailed information on upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on market drivers, trends, and challenges, which will help companies evaluate and develop growth strategies.

Who are the Major Commercial Refrigeration Equipment Market Vendors?

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
  • Standex International Corp.
  • The Middleby Corp.
  • Welbilt Inc.

 

The commercial refrigeration equipment market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the commercial refrigeration equipment market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Commercial Refrigeration Equipment Market?

Commercial-Refrigeration-Equipment-Market-Market-Share-by-Region-2020-2025

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44% of the market’s growth will originate from APAC during the forecast period. China, Japan, and Australia are the key markets for commercial refrigeration equipment in APAC. Market growth in APAC will be faster than the growth of the market in other regions.

New product launches will facilitate the commercial refrigeration equipment market growth in APAC over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.

What are the Revenue-generating Product Segments in the Commercial Refrigeration Equipment Market?

Commercial-Refrigeration-Equipment-Market-Market-Share-by-Product-2020-2025

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The commercial refrigeration equipment market share growth by the walk-in coolers segment will be significant during the forecast period. Supermarkets and food delivery service businesses are continuing to grow worldwide, leading to an increase in the demand for walk-in coolers. This increase in demand is driving the growth of the commercial refrigeration equipment market in this product segment.

Fetch actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the commercial refrigeration equipment market size.

 

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What are the Key Factors Covered in this Commercial Refrigeration Equipment Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive commercial refrigeration equipment market growth during the next five years
  • Precise estimation of the commercial refrigeration equipment market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the commercial refrigeration equipment industry across APAC, Europe, North America, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of commercial refrigeration equipment market vendors

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases

DATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts

REPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The commercial refrigeration equipment market growth will increase by $15.13 billion during 2020-2025.
The commercial refrigeration equipment market is expected to grow at a CAGR of 7.50% during 2020-2025.
Technavio has segmented the commercial refrigeration equipment market by product (Walk-in coolers, Display cases, Refrigerator for drinks, Ice-making machines, and Others) ,end user (Retail, Restaurants, Hotels, and Catering units) , and geographic (APAC, Europe, North America, MEA, and South America).
AB Electrolux, Ali Group Srl, Daikin Industries Ltd., Dover Corp., HOSHIZAKI Corp., Illinois Tool Works Inc., Imbera, Standex International Corp., The Middleby Corp., Welbilt Inc. are a few of the key vendors in the commercial refrigeration equipment market.
APAC will register the highest growth rate of 43.75% among the other regions. Therefore, the commercial refrigeration equipment market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
  • US
  • China
  • Germany
  • Japan
  • Canada
  • UK
  • Australia
The key factors driving the commercial refrigeration equipment market growth are:
  • Need to increase the storage life of food products
  • Growing demand for energy-efficient models of commercial refrigeration equipment
The commercial refrigeration equipment market vendors should focus on grabbing business opportunities from the walk-in coolers segment as it accounted for the largest market share in the base year.
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