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Commercial Refrigeration Equipment Market worth $70.58 billion by 2030, growing at a CAGR of 7.08% - Exclusive Report by 360iResearch
Commercial Refrigeration Equipment Market | 360iResearch
The Global Commercial Refrigeration Equipment Market to grow from USD 43.72 billion in 2023 to USD 70.58 billion by 2030, at a CAGR of 7.08%.
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Commercial refrigeration equipment is specifically designed to store perishable goods at optimal temperatures across various sectors, including food & beverage retail, restaurants, hotels, supermarkets, convenience stores, healthcare facilities, and others. Increasing demand for frozen foods and rising consumer awareness regarding food safety standards are driving the usage of commercial refrigeration equipment. The continuous growth of organized retail chains globally and stringent regulations imposed by governments on the energy efficiency of these systems are driving market growth. However, stringent regulations against fluorocarbon refrigerants and technical issues associated with commercial refrigeration equipment systems significantly impede the adoption of refrigeration equipment. In addition, the emergence of fluorocarbons refrigeration systems and improving the efficiency of refrigeration systems with natural refrigerants is expected to create tremendous opportunities for commercial refrigeration equipment market development.
In the Americas region, increasing focus on energy efficiency and integrating smart technologies, including Internet of Things (IoT) sensors, data analytics, and remote monitoring, have gained significant momentum for commercial refrigeration equipment. Commercial refrigeration equipment manufacturers in the U.S. and Canada focus on developing energy-efficient systems to reduce operating costs and environmental impact. In the Asia-Pacific region, with the rise of eCommerce and the increasing demand for perishable goods, there has been a focus on expanding the cold chain infrastructure, including the development of efficient cold storage facilities and transportation systems, which increases demand for commercial refrigeration equipment. Commercial refrigeration equipment manufacturers in India, China, and Japan are customizing their refrigerators to cater to local requirements and preferences. In the EMEA region, manufacturers are innovating commercial refrigeration equipment to meet strict energy efficiency requirements, such as the European Union's Ecodesign Directive and F-Gas Regulation. Europe has strongly emphasized sustainability and environmentally friendly solutions, including adopting natural refrigerants, such as CO2 and hydrocarbons, and promoting green building certifications.
Market Segmentation & Coverage:
This research report categorizes the Commercial Refrigeration Equipment Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Product, market is studied across Beverage Refrigeration, Cold Room Cabinet, Merchandiser Refrigerators & Freezers, Refrigerated Display Cases, Refrigerated Vending Machine, and Transportation Refrigeration. The Refrigerated Display Cases is projected to witness significant market share during forecast period.
Based on Refrigerant Type, market is studied across Fluorocarbons, Hydrocarbons, and Inorganics. The Fluorocarbons is projected to witness significant market share during forecast period.
Based on Application, market is studied across Bakeries, Commercial Kitchens, Convenience Stores, Hotels & Restaurants, and Supermarkets & Hypermarkets. The Convenience Stores is projected to witness significant market share during forecast period.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 36.74% in 2023, followed by Americas.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Commercial Refrigeration Equipment Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Commercial Refrigeration Equipment Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Commercial Refrigeration Equipment Market, highlighting leading vendors and their innovative profiles. These include AB Electrolux, Baltimore Aircoil Company by Amsted Industries Inc., BITZER Kühlmaschinenbau GmbH, Carnot Refrigeration, Carrier Global Corporation, Commercial Refrigeration Inc., Daikin Industries, Ltd, Danfoss A/S, Dover Corporation, Emerson Electric Co., Evapco, Inc., GEA Group AG, Heatcraft Worldwide Refrigeration, Henry Group Industries, Hitema International S.r.l., Ice Make Refrigeration Ltd., Illinois Tool Works Inc., Johnson Controls International PLC, LG Corporation, Liebherr-International AG, Mayekawa Mfg. Co., Ltd., Metalfrio Solutions SA, National Refrigeration Company, Panasonic Holdings Corporation, Rockwell Industries Limited, SCM Frigo S.p.A., The Middleby Corporation, Trane Technologies PLC, Western Refrigeration Pvt. Ltd., and Whirlpool Corporation.
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Commercial Refrigeration Equipment Market, by Product
7. Commercial Refrigeration Equipment Market, by Refrigerant Type
8. Commercial Refrigeration Equipment Market, by Application
9. Americas Commercial Refrigeration Equipment Market
10. Asia-Pacific Commercial Refrigeration Equipment Market
11. Europe, Middle East & Africa Commercial Refrigeration Equipment Market
12. Competitive Landscape
13. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Commercial Refrigeration Equipment Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Commercial Refrigeration Equipment Market?
3. What is the competitive strategic window for opportunities in the Commercial Refrigeration Equipment Market?
4. What are the technology trends and regulatory frameworks in the Commercial Refrigeration Equipment Market?
5. What is the market share of the leading vendors in the Commercial Refrigeration Equipment Market?
6. What modes and strategic moves are considered suitable for entering the Commercial Refrigeration Equipment Market?
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