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Global Commercial Refrigeration Equipment
Market to Cross $55 Billion Mark by 2022

enquiry@psmarketresearch.com

www.psmarketresearch.com

Global commercial refrigeration equipment market

According to a new research report “Global Commercial Refrigeration Equipment
Market Size, Share, Development, Growth and Demand Forecast to 2022 - Industry
Insights by Equipment Type (Transportation Refrigeration Equipment, Display Cases,
Walk in Coolers, Beverage Refrigeration, Parts, Other Equipment), by Application (Food
& Beverage Distribution, Food & Beverage Retail, Food Service, Others), by End-User
(Supermarkets, Hypermarkets, Convenience Stores, Hotels/Restaurants & Catering, ECommerce, Others)” published by P&S Market Research, the global commercial
refrigeration equipment market is projected to reach $55,688.6 million by 2022,
growing at a CAGR of 6.1% during 2017 - 2022.
Report Overview is Available at: https://www.psmarketresearch.com/market-

analysis/commercial-refrigeration-equipment-market

Global commercial refrigeration equipment market

Global commercial refrigeration equipment market
to register solid growth
The research highlights that the rapid urbanization along with the expansion
of supermarkets, hypermarkets, and food retail chains in the developing
countries, such as India, China, and Brazil, is expected to increase the demand
of commercial refrigeration equipment during the forecast period.
The market in Europe is heading towards maturity; however, the short
product life cycle of the refrigeration equipment in developed regions along
with the increasing floor area of hypermarkets and supermarkets and
restaurants chains, the market for commercial refrigeration equipment is
expected to witness considerable growth in the coming years. The stringent
regulation over the use of F-gases as a refrigerant in commercial refrigeration
equipment, owing to its negative effect on the ozone layers, is acting as one
of the biggest hindrance in the growth of the commercial refrigeration
equipment market.

Global commercial refrigeration equipment market

The commercial refrigeration equipment market is highly fragmented and
most often, the end-users need custom based design specifications, to fulfill
their requirement. Major manufacturers of commercial refrigeration
equipment sell their product as package solutions directly to bulk buyers,
such as supermarket and hypermarket retailers. This consists of about 65% to
75% of the commercial refrigeration equipment market. Approximately 20%
to 25% of the commercial refrigeration equipment market is covered through
independent wholesalers, and remaining 5% to 10% is distributed through the
food service equipment providers, such as catering equipment distributers.

Global commercial refrigeration equipment market

Insights on market segments
The study reveals that among the various equipment types, walk-in coolers
has been leading the commercial refrigeration equipment revenues. The
ice-making machinery is expected to be register highest growth among all
equipment types during the forecast period, owing to the expansion of
restaurant chains in urban and semi-urban areas of developing countries.
Among the various applications of commercial refrigeration, food service
continues to be the largest segment. Supermarkets leads the commercial
refrigeration end-user revenues, owing to its large capacity and
requirement for intensive cooling.

Global commercial refrigeration equipment market

The market to witness fastest growth in AsiaPacific during the forecast period
Geographically, Asia-Pacific has been the largest as well as fastest growing
commercial refrigeration equipment market. Unlike its western countries, the HFCs
refrigerant regulation is not so stiff in developing countries of Asia-Pacific. In VI
BRICS summit of 2014, all the five members agreed over India’s proposal of not
accepting the Montreal Protocol for HFCs, unless other cost-effective alternatives
technologies are provided by the developed countries to them. Until that, the HFCs
regulation would be regulated with existing Kyoto Protocol. However, the effort to
reduce the dependency on HFCs is in process in China.
U.S. remains the major market among the countries, globally, whereas the market in
China is expected to grow at highest rate during the forecast period. The capital
investment in the U.S. market has improved after the economic slowdown. The
increased purchasing power of the consumers has also boosted the foodservice
industry and restaurants in recent years. Technical improvements, such as use of
proximity sensors, LED lighting systems, and increased adoption of enclosed type
refrigeration units, is expected to accelerate the demand for new commercial
refrigeration equipment, over the existing units in the U.S. market.

Global commercial refrigeration equipment market

Development in organized retail empowering
commercial refrigeration equipment market
The development in the organized restaurant chains, supermarkets, and
hypermarkets in developing countries is one of the key growth drivers for the
commercial refrigeration equipment market. In developing countries, such as
India, China, and Brazil, the urban consumers have higher purchasing power
than those in rural part of these countries. In recent years, the government
budget of these countries has shown prospects for the development of new
smart urban areas. The urban population in China is expected to reach around
850 million by 2020, as compared to 756 million in 2014. The urban population
in India is expected to reach around 465 million by the end of 2020. The
increasing level of urbanization is expected to boost the demand of
refrigeration equipment in food processing industries, tier II and tier I
restaurants, hypermarkets, and medium sized grocery stores, during the
forecasted period.

Global commercial refrigeration equipment market

Fragmented market structure
The global commercial refrigeration equipment market is fragmented with
small number of large players and large number of small regional players. Apart
from United Technologies Corporation (UTC), other major competitors held less
than 10% share in the global market in 2016. UTC is focused on organic growth
to further increase its market share in the coming years. The major strategic
development in the market during the recent years includes product launch,
client win, and mergers and acquisitions. Some of the major players in the
market include United Technologies Corporation, Johnson Controls, Daikin
Industries, Dover Corporation, Hussmann Corporation, AB Electrolux, Frigoglass
S.A.I.C., AHT Cooling Systems GmbH, Ali Group S.p.A., and Illinois Tool Works
Inc.

Global commercial refrigeration equipment market

Download report sample at:

https://www.psmarketresearch.com/market-analysis/commercialrefrigeration-equipment-market/report-sample


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