Global Commercial Refrigeration Equipment Market - 2022-2029

Best Price Guarantee	Length	Publisher	Published Date	SKU
from $4,350	207 Pages	DataM Intelligence 4Market Research LLP	June, 2022	DTAM17210510

Best Price Guarantee
Price	from $4,350
Length	207 Pages
Publisher	DataM Intelligence 4Market Research LLP
Published Date	June, 2022
SKU	DTAM17210510

Global Commercial Refrigeration Equipment Market - 2022-2029

Market Overview

The global commercial refrigeration equipment market size was worth US$ XX million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).

Commercial refrigeration equipment refers to a mechanical refrigeration system used to store and display perishable goods such as fruits, vegetables, meat and poultry in various places such as restaurants and grocery stores. The commercial refrigeration equipment consists of a compressor, condenser and evaporator. The compressor is driven by electric power and compresses a low-temperature, low-pressure refrigerant into high-temperature, high-pressure gas.

The condenser changes the state of the gas into liquid through heat exchange. The evaporator is positioned in the refrigerated area and uses a thermostatically controlled expansion valve to convert the liquid refrigerant into a low-pressure, low-temperature gas. The cycle is repeated until the desired temperature is obtained.

Market Dynamics

The demand for commercial refrigeration equipment systems is driven primarily by the increasing global consumption of frozen foods due to modern lifestyle choices. The rising health concerns of long-term consumption of frozen foods represent a key challenge for the growth of this market.

Increasing global consumption of frozen foods

Modern lifestyles, increased disposable incomes, strong economic growth and globalization have caused changes in food habits globally. Trends indicate an increasing demand among consumers for quick and easy meals, especially among the emerging markets of Asia-Pacific, Middle-East & Africa. Ready-to-eat meals primarily fulfill the demand along with local and global quick-service restaurant chains such as KFC and Mcdonald's. Ready-to-eat meals are typically flash-frozen and only require heating to serve.

Quick service restaurants rely on batches of pre-cooked frozen food that can be just heated to ensure prompt service. Global trade has ensured the availability of a wide variety of choices for the average consumer. The most exotic fruits, vegetables, seafood and meats from around the world are available in local grocery supermarkets due to commercial refrigeration systems. The ever-increasing consumption of frozen foods will drive the growth trends for the global commercial refrigeration equipment market.

Health concerns about the consumption of frozen foods

Modern lifestyles and increased disposable incomes have seen a big rise in the global consumption of frozen foods. However, most frozen foods are processed and contain high sodium, trans fats, saturated fats and added sugar. The consumption of unhealthy processed frozen foods leads to health complications such as diabetes and heart disease. The World Health Organization (WHO) estimates heart disease as the leading cause of death globally, with nearly 17.9 million deaths in 2019.

It has also raised concerns about the alarming increase in the rates of diabetes, especially in the developing world. The health effects of frozen food consumption are gaining widespread attention and are prompting a global debate about modern lifestyle choices. The increasing health concerns about the consumption of frozen foods will be a key challenge for the growth of the global commercial refrigeration equipment market since the frozen food industry is the single largest user of this market.

COVID-19 impact analysis

The manufacturing industry experienced sharp declines in production and sales in 2020 due to the COVID-19 pandemic. Governments worldwide imposed lockdowns and other movement restrictions to curb the pandemic. Manufacturers had to suspend operations temporarily. Production resumed with certain restrictions after lifting initial lockdowns in late 2020, although demand is not expected to surpass pre-pandemic levels before 2021.

The COVID-19 pandemics caused knock-on effects on the global supply chains. It has created shortages of essential components for the commercial refrigeration equipment industry. The shortages have resulted in long lead times and reduced production rates, even after the complete lifting of pandemic-related restrictions. Even as end-use applications saw encouraging growth, the industry has struggled to meet demand. The pandemic will not majorly impact the long-term growth of the commercial refrigeration equipment market since the consumption of frozen foods will continue to increase in the coming years.

Segment Analysis

The commercial refrigeration equipment market is segmented into system, refrigerant, product, application and region. The global refrigeration equipment market is segmented into hotels and restaurants, supermarkets and hypermarkets, convenience stores and bakeries based on application. Supermarkets and hypermarkets are leading in this segment as the largest use of commercial refrigeration equipment is to display fresh fruits, vegetables, meat, seafood and other perishable food items.

Geographical Analysis

Asia-Pacific is leading in the global commercial refrigeration equipment market primarily due to the demand generated by major emerging markets like China, India, Malaysia, Thailand and Indonesia and developed markets such as Japan and South Korea.

The sustained high economic growth experienced by this region has led to increased disposable incomes and the adoption of modern lifestyle practices. It has generated a huge demand for ready-to-eat meals and fast-food restaurants. All the major international fast-food brands, such as KFC, McDonald’s, Subway, Pizza Hut, etc., have a presence in this region and are rapidly scaling up operations.

The Asia-Pacific is also home to some of the largest frozen food producers, many of which are located in China, Japan and South Korea. The above factors make the Asia-Pacific region the dominant region for the global commercial refrigeration equipment market. The market share of the Asia-Pacific will only increase in the coming years.

Competitive Landscape

The global commercial refrigeration equipment market is highly competitive due to the availability of a wide variety of proprietary refrigeration systems for different commercial applications. Some of the major players in the market are Carrier, Daikin Industries Ltd., Danfoss, Daikin Industries, Johnson Controls, Bitzer, Haier Inc., Emerson Electric Co., KCR Inc. and Heatcraft Worldwide Refrigeration. The major players in the commercial refrigeration equipment market adopt several growth strategies such as new product launches, collaborations, joint ventures and collaborations, contributing to growth in the global industry.

Carrier

Overview: Carrier is a major engineering company with interests in refrigeration, air-conditioning, fire security systems and home appliances. The company was founded in 1915 by engineer Willis Carrier, considered the father of modern air-conditioning and is headquartered in Palm Beach Gardens, Florida, U.S.

Product Portfolio

Monaxis NC/NCH is a multi-deck refrigeration display for fresh fruits and vegetables. It utilizes refrigeration such as R744, R134A and R404A and has an operating range of 0-12℃. The case is made of stainless steel.

Key Developments:

In late 2021, Carrier announced the completion of installation and certification of a commercial refrigeration system for the kitchens of the athlete village for the Winter Olympic Games Beijing 2022. The project was completed under a joint venture with Haier Inc.

Why Purchase the Report?

Visualize the composition of the commercial refrigeration equipment market segmentation by system, product, refrigerant, application and region, highlighting the critical commercial assets and players.

Identify commercial opportunities in the commercial refrigeration equipment market by analyzing trends and co-development deals.

Excel data sheet with thousands of global commercial refrigeration equipment market-level 4/5 segmentation data points.

PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.

Product mapping in excel for the critical product of all major market players

The global commercial refrigeration equipment market report would provide access to an approx.: 65 market data tables, 70 figures and 207 pages

Target Audience 2022

Refrigeration equipment manufacturers

Grocery and food retailers

Frozen food companies

Industry Investors/Investment Bankers

Education & Research Institutes

Research Professionals

1. Global Commercial Refrigeration Equipment Market Methodology and Scope
1.1. Research Methodology
1.2. Research Objective and Scope of the Report
2. Global Commercial Refrigeration Equipment Market – Market Definition and Overview
3. Global Commercial Refrigeration Equipment Market – Executive Summary
3.1. Market Snippet by System
3.2. Market Snippet by Refrigerant
3.3. Market Snippet by Product
3.4. Market Snippet by Application
3.5. Market Snippet by Region
4. Global Commercial Refrigeration Equipment Market-Market Dynamics
4.1. Market Impacting Factors
4.1.1. Drivers
4.1.1.1. Increasing global consumption of frozen foods.
4.1.1.2. XX
4.1.2. Restraints
4.1.2.1. Health concerns about the consumption of frozen foods.
4.1.2.2. XX
4.1.3. Opportunity
4.1.3.1. XX
4.1.4. Impact Analysis
5. Global Commercial Refrigeration Equipment Market – Industry Analysis
5.1. Porter's Five Forces Analysis
5.2. Supply Chain Analysis
5.3. Pricing Analysis
5.4. Regulatory Analysis
6. Global Commercial Refrigeration Equipment Market – COVID-19 Analysis
6.1. Analysis of COVID-19 on the Market
6.1.1. Before COVID-19 Market Scenario
6.1.2. Present COVID-19 Market Scenario
6.1.3. After COVID-19 or Future Scenario
6.2. Pricing Dynamics Amid COVID-19
6.3. Demand-Supply Spectrum
6.4. Government Initiatives Related to the Market During Pandemic
6.5. Manufacturers Strategic Initiatives
6.6. Conclusion
7. Global Commercial Refrigeration Equipment Market – By System
7.1. Introduction
7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By System
7.1.2. Market Attractiveness Index, By System
7.2. Mechanical Compression Refrigeration System
7.2.1. Introduction
7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
7.3. Absorption Refrigeration System
8. Global Commercial Refrigeration Equipment Market – By Refrigerant
8.1. Introduction
8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Refrigerant Segment
8.1.2. Market Attractiveness Index, By Refrigerant Segment
8.2. Fluorocarbons
8.2.1. Introduction
8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
8.3. Hydrocarbons
8.4. Inorganics
9. Global Commercial Refrigeration Equipment Market – By Product
9.1. Introduction
9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product Segment
9.1.2. Market Attractiveness Index, By Product Segment
9.2. Refrigerator & Freezer
9.2.1. Introduction
9.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
9.3. Transportation Refrigeration
9.4. Refrigerated Display Cases
9.5. Beverage Refrigeration
9.6. Ice Cream Merchandiser
9.7. Refrigerated Vending Machine
10. Global Commercial Refrigeration Equipment Market – By Application
10.1. Introduction
10.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application Segment
10.1.2. Market Attractiveness Index, By Application Segment
10.2. Hotels & Restaurants
10.2.1. Introduction
10.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
10.3. Supermarkets & Hypermarkets
10.4. Convenience Stores
10.5. Bakeries
11. Global Commercial Refrigeration Equipment Market – By Region
11.1. Introduction
11.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
11.1.2. Market Attractiveness Index, By Region
11.2. North America
11.2.1. Introduction
11.2.2. Key Region-Specific Dynamics
11.2.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By System
11.2.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Refrigerant
11.2.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product
11.2.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
11.2.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
11.2.7.1. U.S.
11.2.7.2. Canada
11.2.7.3. Mexico
11.3. Europe
11.3.1. Introduction
11.3.2. Key Region-Specific Dynamics
11.3.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By System
11.3.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Refrigerant
11.3.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product
11.3.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
11.3.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
11.3.7.1. Germany
11.3.7.2. UK
11.3.7.3. France
11.3.7.4. Italy
11.3.7.5. Spain
11.3.7.6. Rest of Europe
11.4. South America
11.4.1. Introduction
11.4.2. Key Region-Specific Dynamics
11.4.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By System
11.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Refrigerant
11.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product
11.4.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
11.4.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
11.4.7.1. Brazil
11.4.7.2. Argentina
11.4.7.3. Rest of South America
11.5. Asia-Pacific
11.5.1. Introduction
11.5.2. Key Region-Specific Dynamics
11.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By System
11.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Refrigerant
11.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product
11.5.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
11.5.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
11.5.7.1. China
11.5.7.2. India
11.5.7.3. Japan
11.5.7.4. South Korea
11.5.7.5. Rest of Asia-Pacific
11.6. Middle East and Africa
11.6.1. Introduction
11.6.2. Key Region-Specific Dynamics
11.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By System
11.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Refrigerant
11.6.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product
11.6.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Refrigerant
12. Global Commercial Refrigeration Equipment Market – Competitive Landscape
12.1. Competitive Scenario
12.2. Market Positioning/Share Analysis
12.3. Mergers and Acquisitions Analysis
13. Global Commercial Refrigeration Equipment Market- Company Profiles
13.1. Carrier
13.1.1. Company Overview
13.1.2. Product Portfolio and Description
13.1.3. Key Highlights
13.1.4. Financial Overview
13.2. Daikin Industries Ltd.
13.3. Danfoss
13.4. Daikin Industries
13.5. Johnson Controls
13.6. Bitzer
13.7. Haier Inc.
13.8. Emerson Electric Co.
13.9. KCR Inc.
13.10. Heatcraft Worldwide Refrigeration
LIST NOT EXHAUSTIVE
14. Global Commercial Refrigeration Equipment Market – Premium Insights
15. Global Commercial Refrigeration Equipment Market – DataM
15.1. Appendix
15.2. About Us and Services
15.3. Contact Us