Global Commercial Refrigeration Equipment Market is Likely to Register a CAGR of 5.0% During the Forecast Period 2017–2025

Market Research Reports Search Engine (MRRSE) has included a new study titled, “Global Market Study on Commercial Refrigeration Equipment: Food and Beverage Retail Segment Expected to be the Most Attractive Segment” to its huge archive of research reports. The report analyzes the global commercial refrigeration equipment market in terms of market value and volume and provides information on the key market dynamics, value chain analysis, competition landscape, pricing analysis and other qualitative analysis frameworks, including market attractiveness analysis, absolute $ opportunity analysis and Y-o-Y growth comparison by segments in order to support stakeholders for decision making and market analysis.

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To assess market opportunities and present a clear picture of the global commercial refrigeration equipment market performance, the report is categorically split into three sections – By Product Type, By Application, and By Region. The report begins with an overview of the global commercial refrigeration equipment market followed by a detailed analysis of drivers, restraints, and trends influencing the market. The subsequent sections include a comprehensive market analysis of the global commercial refrigeration equipment market by product type, application, and region and sets the forecast within the context of the global commercial refrigeration equipment market. This study further discusses key regional trends contributing to the growth of the global commercial refrigeration equipment market and analyzes the degree to which drivers are influencing the markets in each region.

The final section of the report includes the global commercial refrigeration equipment market competitive landscape to provide report audiences with a dashboard view of leading companies operating in the global commercial refrigeration equipment market. The report highlights recent developments, strategy, and SWOT analysis of key market players active in the global commercial refrigeration equipment market. Some of the market players featured in the report are Standex International Corporation, Lennox International Inc., Daikin Industries Ltd., Illinois Tool Works Inc., AHT Cooling Systems GmbH, Whirlpool Corporation, United Technologies Corporation, Manitowoc Company, Inc., Panasonic Corporation, Qingdao Haier Co. Ltd., Fujimak Corporation, Hoshizaki Corporation, Electrolux AB, Dover Corporation, Ingersoll-Rand PLC.

Research methodology

The report considers various aspects based on extensive secondary research to deduce the market size of the global commercial refrigeration equipment market. Furthermore, key data points such as region-wise split and market split by product type and region; and qualitative inputs from primary respondents have been incorporated to arrive at appropriate market estimates. The forecast presented in the report assesses the total revenue generated and expected revenue contribution in the global commercial refrigeration equipment market.

The report begins with sizing the market in terms of value and volume for the base year, which forms the basis for forecasting how the market is anticipated to take shape in the near future. Given the characteristics of the market, gathered data is triangulated via different analysis based on supply side and demand side drivers and other key dynamics of the global commercial refrigeration equipment market. To develop the market forecast, Persistence Market Research has also conducted a factor analysis to understand the impact of various forces/factors on the target market. The report provides forecasts not only in terms of CAGR but also presents a detailed analysis based on key parameters such as Year-on-Year (Y-o-Y) growth to understand market predictability and to identify the right opportunities in the global commercial refrigeration equipment market.

Another key feature of this report is an analysis of the global commercial refrigeration equipment market and the corresponding revenue forecast in terms of absolute dollar opportunity, usually overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales and delivery perspective in the global commercial refrigeration equipment market. Also, to understand key segments in terms of their growth in the global commercial refrigeration equipment market and to determine overall market performance, Persistence Market Research has developed a market attractiveness index to help providers identify existing market opportunities in the global commercial refrigeration equipment market.

Commercial refrigeration equipment includes refrigeration equipment that finds application primarily in food & beverage and allied industries. Commercial refrigeration equipment is used in the storage, transportation, and merchandising of applications. Commercial refrigeration equipment includes refrigerators and freezers that are used in super markets, hyper markets, convenience stores, and food service restaurants. The global commercial refrigeration equipment market is likely to register a CAGR of 5.0% during the forecast period (2016–2026), with sales of global commercial refrigeration equipment estimated to be valued at US$ 28.09 Bn by the end of 2016.

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Key market dynamics

Over the last decade, there has been a significant increase in number of retail stores across the globe. Major players in the retail sector are expanding their footprint in emerging markets of Asia Pacific, especially in India and China in order to capitalize on growing consumer spending power in these countries. Rapid growth of the organized retail sector characterized by a rising number of hypermarkets, supermarkets, etc. is expected to boost growth of the overall food & beverage value chain, which in turn is expected to boost overall sales of commercial refrigerators and freezers during forecast period. A growing demand for chilled and frozen products is also likely to boost growth of the global commercial refrigeration equipment market during the forecast period.

However, stringent government regulations pertaining to small and medium OEMs and parts suppliers; and declining replacement rates for commercial refrigeration equipment can restrict the growth of the global commercial refrigeration equipment market over the forecast period.

Segment analysis

The global commercial refrigeration equipment market is segmented on the basis of Product Type into Transportation Refrigeration, Refrigerator and Freezer, Beverage Refrigeration Equipment, Refrigerated Display Cases, Ice Machine, and Refrigerated Vending Machine; and on the basis of Application into Food and Beverage Production, Food and Beverage Retail, Food and Beverage Distribution, and Food Service. The Transportation Refrigeration product type segment is estimated to register the highest CAGR of 5.9% over the forecast period while the Refrigerator and Freezer segment is expected to account for a value share of 30.8% by the end of 2016. The Food and Beverage Production application segment is expected to register a value CAGR of 4.7% over 2016–2026. The Food and Beverage Retail segment is expected to be the most attractive segment in the global commercial refrigeration equipment market.

Regional analysis

The global commercial refrigeration equipment market is segmented by region into North America, Latin America, EU, EEU, Other CIS Countries, APAC, China, Middle East, and Africa. North America is anticipated to be most attractive region in the global commercial refrigeration equipment market with an estimated market share of 29.5% at the end of 2016. The commercial refrigeration equipment market in China is expected to outperform the other regions in terms of CAGR over the forecast period. A large part of the APAC region is an emerging market for commercial refrigeration equipment and this region is estimated to account for a market value share of 19.4% by the end of 2016. APAC is anticipated to witness a robust CAGR of 5.3% during the forecast period.

Key market players

Standex International Corporation, Lennox International Inc., Daikin Industries Ltd., Illinois Tool Works Inc., AHT Cooling Systems GmbH, Whirlpool Corporation, United Technologies Corporation, Manitowoc Company, Inc., Panasonic Corporation, Qingdao Haier Co. Ltd., Fujimak Corporation, Hoshizaki Corporation, Electrolux AB, Dover Corporation, and Ingersoll-Rand PLC., are some of the leading companies operating in the global commercial refrigeration equipment market. Top market players are focusing on – new product development and launch of advanced and sustainable products through strategic R&D initiatives in product innovation; geographical expansion especially in high-growth markets such as India, China, and Brazil by increasing the number of manufacturing facilities worldwide; and collaborations / partnerships with established players in mature markets for business expansion and growth.

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