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Smart Cards Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2016 - 2023

05-29-2017 01:42 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Market Research Reports

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Surge in the food industry, which is inclusive of hotels, restaurants, and fast food, has created the need for storing food products. This need is also being fueled by the expanding retail network, which is involved in selling items that need refrigeration. Owing to these reasons, the global commercial refrigeration equipment market has witnessed a huge leap in revenue earnings in the past few years. The sophistication brought about in refrigerated display cases with the innumerable recent technological advancements, which permit advanced temperature control, has also paved the way for this equipment to cater to the growing needs of the biomedical sector.

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The global market for commercial refrigeration equipment includes products such as chilled rooms, refrigerated display cases, beverage refrigerators, and dispensers or fountains. On the basis of design, refrigerated display cases are segmented into horizontal, vertical, and others such as hybrid or semi-vertical. The types of refrigerated display cases are remote and plug in. Additionally, the types of chilled rooms are walk-in cooler rooms, walk-in freezer rooms, and walk-in hybrid rooms. Geographically, this market is segmented into Europe, North America, Asia Pacific, and Rest of the World.

Chilled Rooms Led Global Commercial Refrigeration Equipment Market in 2014
According to a research report, the chilled rooms segment held a leading position in the global commercial refrigeration equipment market in 2014 in terms of revenue. The dominance of the segment was attributable to the growth of e-commerce, which requires large warehousing facilities for storing perishable food items.

Asia Pacific to Continue Dominance in Overall Market

Regionally, Asia Pacific makes the largest contribution in terms of revenue to the overall RDCs, chilled rooms, and beverage refrigerators and dispensers market. This regional market is being driven by the proliferating commercial sector, which is inclusive of restaurants, hotels, retail outlets, and the catering industry. On the other hand, the commercial refrigeration equipment market in North America and Europe is undergoing cutthroat competition as the countries in these regions are highly saturated with global and local brands.

Plug-in RDCs to Remain Popular Products in Coming Years

Out of various products in the global market for commercial refrigeration equipment, the demand for plug-in RDCs is expected to rise due to the growth in recent years of small-to-medium-sized stores. Plug-in RDCs will be the obvious choice for retail or commercial outlets, as they take up limited space and investment in comparison to remote systems. Additionally, advantages such as easy installation and the flexibility to move it around make plug-in RDCs the obvious choice amongst users. Additionally, vertical RDCs will be popularly used for non-sub-zero items that lead to higher sales volumes compared to products stored in sub-zero temperatures. Therefore, vertical RDCs will dominate the market, as they are preferred by large retail stores.

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Some of the key players in the global market for commercial refrigeration equipment are Amerikooler Inc, SRC Refrigeration, U.S. Cooler Company, Vestforst A/S, Zero Zone, Inc., ColdKit, Sanden Corporation, Epta S.p.A., Metalfrio Solutions S.A., Blue Star Ltd., Lennox International, Inc., AHT Cooling Systems GmbH, Hussmann International, Inc., ISA Italy S.r.l, Dover Corporation, Illinois Tool Works, Inc., United Technologies Corporation – Climate, Controls & Security Unit (Carrier), Beverage-Air Corporation, and Daikin Industries, Ltd., among others.

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