Demand for Commercial Refrigeration Equipment to be Fuelled by Introduction of Various Food Quality Regulations

A new Transparency Market Research report states that the global commercial refrigeration equipment market stood at US$31.7 bn in 2014 and is anticipated to reach US$53.7 bn by 2020, by rising at a 9.20% CAGR between 2014 and 2020. The title of the report is “Refrigerated Display Cases, Beverage Refrigerators and Dispensers, and Chilled Rooms Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020.”

The market for refrigeration equipment comprises refrigerated display cases (RDCs), beverage refrigerators and dispensers, and chilled rooms. Amongst these, refrigerated display cases (RDCs) are utilized for keeping the food chilled or cooled while it is being displayed for retail sale. These RDCs are also available in hybrid versions featuring a combination of heating and refrigeration and are highly trending in the global commercial refrigeration equipment market.

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On the other hand, as the name suggests, beverage refrigerators and dispensers are utilized for storing beverages, while chilled room is defined as a refrigerant area utilized for storing perishable vegetables and food items in the meat and seafood industry, hotels and restaurants, research laboratories, and floriculture and horticulture industry, among others.

The market for refrigeration equipment is being fuelled by the introduction of various food quality and safety regulations globally. In addition, the increasing count of hotels, cafes, and supermarkets will also boost the development of the market. Furthermore, the shifting trends in food consumption and the growing technological advancements in the market will also positively impact the growth of this market. The introduction of eco-friendly chilled rooms and RDCs and the advancement of commercial infrastructure within developing nations are the major opportunities seen in the market for refrigeration equipment.

However, the soaring cost of initial investment is restraining the growth of the market. In addition, the high cost of this equipment, especially cold rooms, will also negatively impact the development of the market for refrigeration equipment.

On the basis of product type, the report segments the commercial refrigeration equipment market into chilled rooms, refrigerated display cases, dispensers or fountains, and beverage refrigerators. Amongst these, on the basis of revenue, the segment of chilled rooms led the market in 2014. This is owing to the increasing online retailing propelling the demand for chilled rooms. By product type, the chilled rooms market is segmented into walk-in cooler rooms, walk-in freezers room, and walk-in hybrid rooms. Amongst these, walk-in cooler rooms held the largest share of approximately 47% in the global chilled room market in 2014.

In terms of product design, the RDCs market is categorized into horizontal, vertical, and others such as semi-vertical or hybrid RDCs. Of these, the segment of vertical RDCS led the global RDCs market in terms of revenue in 2014. This segment is also predicted to experience an increased demand in the coming years in comparison to horizontal and other kinds of RDCs. By product type, the report segments the refrigerated display cases market into remote and plug-in RDCs. Plug-in RDCs involve low time of installation and feature flexibility, hence are highly demanded by medium to small-size stores globally.

Geographically, the commercial refrigeration equipment market is segmented into Europe, North America, Asia Pacific, and Rest of the World (RoW). Amongst these, the Asia Pacific commercial refrigerator market is dominating owing to the expanding commercial sectors, particularly restaurants, hotels, and catering services within this region. On the other hand, both North America and Europe are experiencing huge competition within the market for commercial refrigeration equipment. This is owing to the increasing proliferation of global and local brands within these two regions.

As per this study, the major players in the global commercial refrigeration equipment market are Amerikooler Inc, U.S., SRC Refrigeration, Zero Zone, Inc., ISA Italy S.r.l, Blue Star Ltd., Lennox International, Inc., Illinois Tool Works, Inc., Daikin Industries, Ltd., Metalfrio Solutions S.A, and Beverage-Air Corporation, among others.

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This release was published on openPR.