Market Segmental Analysis:
The market for commercial refrigeration equipment market is segmented on the basis of:
Type: Display cases, walk-in coolers, beverages refrigeration, ice-making machineries, parts and others. Display cases and beverage refrigeration devices are the most growing type of this segment.
Applications: Hospitals, bars, food service, hotels, and food and beverages preservation. Food service and hotels are the major sector for this industry.
End Users: Food manufacturing industries, hyper market and super market. Supermarkets are leading the segment in a major way as compared to other end users.
- United Technologies Corporation,
- Hussmann Corporation,
- AB Electrolux,
- Frigoglass S.A.I.C,
- Dover Corporation,
- Daikin Industries Ltd,
- AHT Cooling Systems GmbH,
- Ali Group S.p.A,
- Illinois Tool Works Inc
- Johnson Controls, Inc.
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Increase in the number of retail outlets for perishable items has given rise to the global commercial refrigeration equipment market. Market Research Future, a firm which specializes in market reports related to the Consumer and Retail sector among others, recently published a report on this market. The market is set to develop following an exceptional revenue growth with an outstanding CAGR per cent in the forecast period.
Development of retail chains and their outlets have led to development of the market at a rapid pace. Development of commercial kitchens where high capacities of refrigeration devices are required has also been of the sources of demand source. Increase in the investment in the sector has caused the sector to branch out towards different applications.
Latest Industry Updates:
Jan 2018 Filta Group Holdings has recently sold its refrigeration and HVAC maintenance and repair business to Scotia Cooling Solutions. Filta group who is into providing services to commercial kitchens, stated that the sale is for a cash consideration up to £125,000 and comprises Filta Refrigeration’s net assets of £99,719 and additional payments relating to finance leases. Scotia Cooling Solutions which is a Livingston-basedcompany has also taken on all refrigeration and HVAC related engineers, vehicles and current contracts.
Jan 2018 Elanpro which is India’s leading commercial refrigeration company has recently showcased Flexi Drawers, a recently-launched range of integrated refrigeration drawers that combine a refrigerator and a freezer. The products restated the commitment of the company, which has industries like hospitality and retail, and provides sustainable and innovative refrigeration solutions to its customers.
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The North American market dominates the Global Commercial Refrigeration Equipment industry with the biggest market share, accounting for millions in revenue and is expected to grow tremendously by 2027.
The Asia-Pacific has exceeded North America in 2015 to become the largest market for commercial refrigeration equipment and expected to grow at an optimistic CAGR.
The European market for Commercial Refrigeration Equipment is expected to grow at an influential CAGR in the forecast period even though the market in Europe is heading towards the maturity.
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