Europe Commercial Refrigeration Market Growth: Expected to Hit $9.92 Billion by 2028, Heats Up with 4.3% CAGR

According to a new report, "Europe Commercial Refrigeration Market Size, Share, Competitive Landscape and Trend Analysis Report, by Product, End User : Opportunity Analysis and Industry Forecast, 2021-2028." The research provides a current evaluation of the global market landscape, highlighting recent trends, key drivers, and the overall market environment. The study examines the main factors influencing industry expansion, analyzing both its growth drivers and restraints. Additionally, it sheds light on factors expected to offer promising opportunities for development of industry in the future. Europe commercial refrigeration market size was valued at $7,700.7 million in 2019, and is projected to reach $9,921.0 million by 2028, growing at a CAGR of 4.3% from 2021 to 2028.

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The growth of the Europe commercial refrigeration industry is driven by increase in demand for frozen & chilled products among consumers due to changes in lifestyle and emergence of modern trades. Moreover, development of the organized retail sector coupled with increase in number of hypermarkets and supermarkets boosts the Europe commercial refrigeration market growth.

Europe commercial refrigeration market trends such as advancements in commercial refrigerators, integration of artificial intelligence (AI) coupled with rise in automation of equipment are anticipated to provide potential Europe commercial refrigeration market opportunities. Thus, Europe commercial refrigeration market size is expected to expand over the forecast period owing to the new offerings and development in existing product line by the key manufacturers.

Commercial refrigeration equipment are devices used in the commercial sector to preserve food items and beverages such as vegetables, fruits, meat, beer, and other similar products by maintaining a specific temperature. This helps increase the shelf life of the product making it suitable for purchase for a longer duration. Most commercial refrigeration systems are designed to reduce temperature over a period, while there are some refrigeration equipment that are specifically designed to reduce the temperature of food from around 90°C to as low as 30°C, in short time. The quick change in temperature helps constrain bacterial growth and maintain the freshness of food items for prolonged period.

The Covid-19 pandemic has a vital impact on the growth of the Europe Commercial Refrigeration Market and altered several market scenarios. The lockdown across various countries and ban on international travel has disrupted the supply chain and revenue chain. The report includes a thorough analysis of the Covid-19 pandemic on the growth of the Europe Commercial Refrigeration Market.

The market is segmented into product, end user, and country. Depending on type, the chest refrigeration segment was the highest contributor to the Europe commercial refrigeration market share. By end user, the supermarket/hypermarket segment accounted for a maximum share in the regional market in 2019, and is expected to remain dominant during the Europe commercial refrigeration forecast period. However, the retail pharmacies segment is expected to experience rapid growth with a CAGR of 5.8% from 2021 to 2028.

Country wise, the market is analyzed across Germany, France, UK, Italy, Spain, Netherlands, Poland, Russia, Denmark, and Rest of Europe.

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Growth Opportunities and Trends in Europe Commercial Refrigeration Market:

Sustainability and Energy Efficiency:
Regulatory Pressure: The European Union's stringent regulations on energy efficiency and environmental impact, such as the F-Gas Regulation, are pushing businesses to adopt more energy-efficient and eco-friendly refrigeration systems.
Natural Refrigerants: There is a growing shift towards the use of natural refrigerants like CO2, ammonia, and hydrocarbons, which have a lower environmental impact compared to traditional HFCs (hydrofluorocarbons).

Technological Advancements:
IoT and Smart Technologies: The integration of Internet of Things (IoT) technologies into refrigeration systems is enabling real-time monitoring, predictive maintenance, and enhanced energy management. Smart refrigeration units can optimize performance, reduce downtime, and lower operating costs.
Digitalization and Automation: The digital transformation in the food retail and hospitality sectors is increasing the adoption of automated and digitally controlled refrigeration systems, which offer better control, consistency, and energy efficiency.

Health and Safety Regulations:
Food Safety Standards: Stricter food safety regulations in Europe are pushing businesses to upgrade their refrigeration systems to ensure compliance. This includes maintaining consistent temperatures, reducing the risk of contamination, and implementing traceability systems.

Rise of E-commerce and Cold Chain Logistics:
Online Grocery Sales: The surge in online grocery shopping, accelerated by the COVID-19 pandemic, has led to increased demand for cold chain logistics and last-mile delivery solutions. This trend is driving investment in refrigerated storage and transportation solutions.
Expansion of Cold Storage Facilities: To meet the growing demand for fresh and frozen products, there is a significant expansion in cold storage facilities across Europe, particularly in countries with high e-commerce penetration.

Analyst Review

The Europe commercial refrigeration market is witnessing moderate growth rate, due to rise in demand for frozen products among consumers. Rapid development of the organized retail sector, such as increase in number of hypermarkets and supermarkets, further boosts the overall sales of commercial refrigerators.

Europe is anticipated to garner a decent share of approx. 27.31% in the global commercial refrigeration market, owing to rise in number of full-service restaurants & quick service restaurants as well as shift in preference toward frozen food & confectioneries.

Some of the key players profiled in the market analysis include:

• Bitzer GmbH
• De Rigo Refrigeration S.r.l.
• Freor Lt Uab
• FRIGOBLOCK GmbH
• INTARCON
• Kelvion Phe GmbH
• Pfannenberg GmbH
• SCM FRIGO S.P.A.
• TEXA Industries
• Walter Roller GmbH & Co.

Key Benefits For Stakeholders:

• The report provides a quantitative analysis of the current market trends, estimations, and dynamics of the market size from 2019 to 2028 to identify the prevailing commercial refrigeration market opportunities.
• The key countries in all the major regions are mapped based on their market share.
• Major countries in each region are mapped according to their revenue contribution to the industry.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the size and segmentation assists to determine the prevailing market opportunities.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players in the commercial refrigeration industry.

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Reasons to buy Europe Commercial Refrigeration Market Report:

• Procure strategically important competitor information, analysis, and insights to formulate effective R&D strategies.
• Recognize emerging players with potentially strong product portfolio and create effective counter-strategies to gain competitive advantage.
• Classify potential new clients or partners in the target demographic.
• Develop tactical initiatives by understanding the focus areas of leading companies.
• Plan mergers and acquisitions meritoriously by identifying Top Manufacturer.
• Develop and design in-licensing and out-licensing strategies by identifying prospective partners with the most attractive projects to enhance and expand business potential and Scope.
• Report will be updated with the latest data and delivered to you within 2-4 working days of order.
• Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
• Create regional and country strategies on the basis of local data and analysis.

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