Commercial Refrigeration Equipment Market Competitive Growth Strategies Based on Type, Applications, End User and Region

Witnessing an uptick of 3.4% over 2018, the worldwide sales of commercial refrigeration equipment will exceed revenues worth US$ 46 Bn by 2019 end. As indicated by a recent research study of Future Market Insights (FMI), the market for commercial refrigeration equipment will progress at a moderate CAGR over 2019 – 2029. The demand would be prominently driven by greater production of F&B goods and a preferential shift of consumers towards quick service restaurants (QSRs), at a global level.

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COMMERCIAL REFRIGERATION EQUIPMENT MARKET KEY TAKEAWAYS
  • Growing demand for ready-to-eat products and expanding retail outlets are driving the sales of commercial refrigeration equipment.
  • North America and Europe would collectively account for over half of the market value share by 2029 end.
  • The food services sector will remain prominent application area to invest in, for commercial refrigeration equipment market players.
  • The enforcement of new refrigerant regulations such as the EPA 680 Upgrade, and the Kigali Amendment for the phase-down of HFC refrigerants will largely impact the market growth.
  • The higher average unit cost of freezers & refrigerators allude lower volume sales vis-à-vis value gains, with just about 2.6 million unit sales in 2018.
  • Glass door merchandizers that account for around a third of total volume sales continue to see relatively low revenue generation as compared to freezers & refrigerators.
  • Sales of beverage dispensers and display cases across end-use industries will show a moderate increase year-over-year in 2019, which will collectively represent nearly 16% of total commercial refrigeration equipment sales in that year.

Manufacturers who are keeping the innovation quotient high and providing turn-key solutions to meet regulatory requirements, with safety to end users at the core, will be rewarded in the long run.

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By segmentation:

The global commercial refrigeration equipment market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.

By Product

  • Beverage Refrigerator
    • Drinking Fountain
    • Soda Fountain
    • Beer Dispensing Equipment
    • Beverage Coolers
  • Freezers & Refrigerators
    • Freezer & Chillers
      • Blast Chiller/Stock Freezers
      • Contact Freezers
    • Refrigerators
      • Walk-in-Refrigerators
      • Reach-in Refrigerators
  • Transportation Refrigerators
    • Trailers
    • Trucks
    • Shipping Containers
  • Glass Door Merchandizers
    • Hinged Door
    • Sliding Door
  • Display Cases
    • Ice Cream Cabinets
    • Bakery/Deli Display
  • Beverage Dispensers
  • Refrigerated Vending Machine
  • Ice Machine
  • Ice Cream Machine

By Application

  • Food Services
  • Food & Beverage Retail
  • Food & Beverage Production
  • Food & Beverage Distribution

By Region

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East and Africa
Competition Trends

In 2018, the top four stakeholders including Carrier Corporation, Daikin Industries, Ltd., Danfoss A/S, and Hussman Corporation collectively accounted for 20-25% revenue share. The emergence of a large number of small players in developing countries has resulted into price competition, with leading market players losing their profit margins. Market fragmentation will continue through 2029, driven by regional regulatory norms and enhanced capabilities of the local players.

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