North America, Europe and China Commercial Refrigeration Equipment Market, By Product Type (Blast Chillers, Refrigerator & Freezer, Transportation Refrigeration, Refrigerated Display Case, Self-Contained, Remotely Operated, Beverage Refrigeration, Ice Cream Merchandiser and Refrigerated Vending Machine), Refrigerant Type (Hydrocarbons, Fluorocarbons, and Inorganics), End-User (Supermarkets & Hypermarkets, Convenience Stores, Hotels & Restaurants, Bakeries and Catering Services) - Industry Trends and Forecast to 2030.
North America, Europe and China Commercial Refrigeration Equipment Market Analysis and Size
The North America, Europe and China commercial refrigeration equipment market is being driven by the rise in consumption of convenience food items is an important driver for the North America, Europe and China commercial refrigeration equipment market. Moreover, the technological advancement in compressor and cooling technologies is expected to boost market growth. However, extensive involvement of cost is expected to challenge market growth which is expected to restrain the market growth.
Data Bridge Market Research analyses that the North America, Europe and China commercial refrigeration equipment market is expected to reach the value of USD 28,994.30 million by 2030, at a CAGR of 4.2% during the forecast period.
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Year
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2021 (Customizable 2015-2020)
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Quantitative Units
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Revenue in USD Million
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Segments Covered
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Product Type (Blast Chillers, Refrigerator & Freezer, Transportation Refrigeration, Refrigerated Display Case, Self-Contained, Remotely Operated, Beverage Refrigeration, Ice Cream Merchandiser and Refrigerated Vending Machine), Refrigerant Type (Hydrocarbons, Fluorocarbons, and Inorganics), End-User (Supermarkets & Hypermarkets, Convenience Stores, Hotels & Restaurants, Bakeries and Catering Services)
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Countries Covered
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U.S., Canada, and Mexico, Germany, U.K., Italy, France, Spain, Switzerland, Russia, Turkey, Belgium, Netherlands and Rest of Europe, and China
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Market Players Covered
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Whirlpool Corporation, DAIKIN INDUSTRIES, Electrolux Professional Group, Carrier, Metalfrio Solutions, True Manufacturing Co., Inc, Hussmann Corporation (A Subsidiary of Panasonic Holdings Corporation) (A subsidiary of Panasonic Holdings Corporation), Heatcraft Worldwide Refrigeration, Zero-zone, Saba Corp, Minus Forty, COOLPLUS COMMERCIAL REFRIGERATION & KITCHEN EQUIPMENT COMPANY LIMITED, Excellence Industries, VICTORY REFRIGERATION, DukersUSA among others
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Market Definition
Commercial refrigeration equipment refers to specialized appliances, systems, and devices designed for the storage, preservation, and cooling of perishable goods, primarily in commercial and industrial settings. This equipment encompasses a range of products such as refrigerators, freezers, walk-in coolers, display cases, and cold storage units, tailored to meet the specific needs of businesses in sectors like food service, hospitality, retail, and pharmaceuticals. It plays a vital role in maintaining the quality and safety of products by controlling temperature and humidity levels, thereby extending the shelf life and ensuring regulatory compliance within these industries.
North America, Europe and China Commercial Refrigeration Equipment Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints, and challenges. All of this is discussed in detail as below:
Drivers
- Rise in consumption of convenience food items
Convenience has become a key factor influencing consumer behavior in the food industry. With changing lifestyles, urbanization, and busier schedules, people are increasingly turning to ready-to-eat and easy-to-prepare convenience food items. This trend has given rise to significant demand for commercial refrigeration equipment in markets such as North America, Europe, and China. This commercial refrigeration equipment plays a crucial role in preserving the freshness and quality of convenience food, ultimately contributing to the growth of the commercial refrigeration equipment market in these regions. Modern consumers, particularly North America, Europe, and China, are leading fast-paced lives, often juggling work, family, and social commitments. As a result, there is a growing preference for quick and easily accessible food options. In addition, urbanization has led to smaller living spaces and an increase in single-person households. This demographic shift has driven the demand for portion-sized and ready-to-eat meals, leading to higher consumption of convenience food
- Growing food retail and cold chain logistics
The expansion of the food retail and cold logistics industries has resulted in a substantial increase in the demand for refrigerators. The proliferation of supermarkets, convenience stores, and grocery chains led to a diverse range of perishable food items being offered to consumers. To maintain the quality and extend the shelf life of these products, retailers require refrigeration systems for proper storage. As globalization continues to facilitate the international trade of perishable goods, the cold logistics industry plays a vital role in transporting temperature-sensitive products over long distances. Refrigerated trucks, containers, and warehouses are essential for maintaining the required temperature condition throughout the supply chain ensuring the goods reach their destinations in optimal condition.
Opportunities
- Technological advancements in compressor and cooling technologies
Modern technologies are developing at an enormous phase due to several scientific discoveries and realizations. One of the primary industries where these developments can be witnessed is the technological developments that happened in compressor and cooling technologies over the past few years. These developments in compressor and cooling technologies are acting as a substantial driver for the market because of the improvements in efficiency and cooling these technological advancements can grant to these commercial refrigeration units.
For instance,
- In January 2022, Emerson launched namely Copeland ZPK7 single-scroll fixed-speed compressor for residential and light commercial HVAC applications. This compressor is said to be optimized for R410A refrigerant and provides enhanced performance at the SEER2 B rating point condition
In conclusion, because of many discoveries, the technologies utilized in compressor and cooling technologies are experiencing huge technological advancements. Since these technological advancements can improve the efficiency of refrigeration units and reduce their power consumption and thus is expected to create opportunities for the market
- Leveraging technological advancement and smart AI integration
Leveraging technological advancements and smart Al integration has been instrumental in revolutionizing the refrigeration industry to meet the growing demand of e-commerce and other sectors. Advanced refrigeration systems now incorporate energy-efficient technologies such as variable speed compressors, improved insulation materials, and LED lightning. Al algorithms can optimize the operation of these systems, adjusting cooling levels based on real-time demand and temperature conditions. This results in reduced energy consumption and operational costs while maintaining the desired storage conditions. Al-powered sensors and monitoring systems can continuously gather data from refrigeration units. By analyzing this data, Al algorithms can predict and detect potential issues before they led to equipment failure. This predictive maintenance approach ensures better reliability and minimizes downtime, enhancing the overall efficiency of refrigeration systems
Restraint
- Extensive involvement in cost
Commercial refrigeration units are ones are complex and highly energy-consuming, as a result, any minor problem that arose in these systems would result in complex mechanical problems which may require expert care. However, these expert services would also be more expensive than traditional domestic refrigeration units. Furthermore, the parts associated with these units are costly. As a result, the high repair and maintenance costs of commercial refrigerators act as a significant impediment to the growth of the commercial refrigerators market.
For instance,
- In May 2023, according to Forbes Home, the cost for the repair of freezers ranges from $60 to $650 with an average repairing cost of $350 and it cost even more if the problem is with the refrigerating component. And each of the components like the compressor, control board, thermostat, defrost motor and others has individual and variable repair and replacement charges from $80 to $800 as per the component.
In conclusion, the repair and maintenance of commercial refrigeration units cost are extremely complex and the cost of parts is humungous. Because of the more monetary expense, this repair and replacement would cause much higher than the cost required for the replacement of these units with a new one. As a result, the high repair and maintenance cost of commercial refrigerators is expected to act as a considerable restraint that prevents the growth of the North America, Europe, and China commercial refrigeration equipment market.
Challenge
- Challenges faced during the manufacturing process
The delicate nature of glass, the requirement for exact quality control, and the difficulty of integrating refrigeration systems make the manufacturing process of commercial refrigerators challenging in many ways. Glass doors must be handled with care due to their fragility to avoid breaking or cracks. Strict quality control procedures are needed to ensure consistency of quality across all units. It might be difficult to seal and insulate properly to stop air leaks and preserve energy efficiency. For optimal performance, achieving precise temperature regulation and structural integrity is essential. The production process is also made more complicated by elements like display lighting, noise/vibration control, packaging, and shipping. To overcome these obstacles, you'll need knowledge, focus on the small things, and constant improvement.
For instance,
- On June 2017, according to an article published by industrial equipment news, they state that three factors affect glass prices. One is the process and technologies involved in making the glasses in the desired shape which includes processes like drilling, waterjet cutting, and Computer Numerical Control (CNC) machining, the second work is edge works involved and the final factor is the processes and chemicals involved in strengthening and tampering of the glasses
In conclusion, in North America, Europe, and China Commercial Refrigeration Equipment manufacturing is difficult for many reasons. The complexity is influenced by factors like glass fragility, metals and materials quality assurance, sealing and insulation, temperature control, structural integrity, display lighting, noise and vibration control, and packaging and shipping constraints. To overcome these obstacles, the manufacturers have to spend extra effort and investment to attain good quality products. This clearly shows that the challenges faced during manufacturing are expected to affect the North America, Europe, and China Commercial Refrigeration Equipment Market.
Recent Developments
- In June 2022, Whirlpool Corporation will showcase its latest appliance innovations at the Pacific Coast Builders' Conference in San Francisco, aligning with building and design trends. The company's diverse brands, including Whirlpool Corporation, Maytag, KitchenAid, and JennAir, will offer product options for industry professionals.
North America, Europe and China Commercial Refrigeration Equipment Market Scope
North America, Europe, and China commercial refrigeration equipment market is categorized into three notable segment, product type, refrigerant type, and end-user. The growth amongst these segments will help you analyze major growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- Blast Chillers
- Refrigerator & Freezer
- Transportation Refrigeration
- Refrigerated Display Case
- Self-Contained
- Remotely Operated
- Beverage Refrigeration
- Ice Cream Merchandiser
- Refrigerated Vending Machine
On the basis of product type, the market is segmented into blast chillers, refrigerator & freezer, transportation refrigeration, refrigerated display case, self-contained, remotely operated, beverage refrigeration, ice cream merchandiser and refrigerated vending machine.
Refrigerant Type
- Hydrocarbons
- Fluorocarbons
- Inorganics
On the basis of refrigerant type, the market is segmented into hydrocarbons, fluorocarbons and inorganics.
End-User
- Supermarkets & Hypermarkets
- Convenience Stores
- Hotels & Restaurants
- Bakeries
- Catering Services
On the basis of end-user, the market is segmented into supermarkets & hypermarkets, convenience stores, hotels & restaurants, bakeries, and catering services.
North America, Europe and China Commercial Refrigeration Equipment Market Regional Analysis/Insights
The North America, Europe and China commercial refrigeration equipment market is analyzed, and market size insights and trends are provided by product type, refrigerant type, and end-user as referenced above.
The countries covered in the North America, Europe and China commercial refrigeration equipment market report are U.S., Canada, Mexico, Germany, U.K., Italy, France, Spain, Switzerland, Russia, Turkey, Belgium, Netherlands and Rest of Europe, and China.
North America is expected to dominate due to the presence of key market players in the largest consumer market with high GDP. Europe is expected to grow due to shifting consumer preference towards convenience food. The Germany dominates Europe region due to the strong presence of key players. The U.S. dominates North America region due to the increasing demand from emerging markets and expansion.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends, and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and North America, Europe and China Commercial Refrigeration Equipment Market Share Analysis
North America, Europe and China commercial refrigeration equipment market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus on the market.
Some of the major players operating in North America, Europe and China commercial refrigeration equipment market are Whirlpool Corporation, DAIKIN INDUSTRIES, Electrolux Professional Group, Carrier, Metalfrio Solutions, True Manufacturing Co., Inc, Hussmann Corporation (A Subsidiary of Panasonic Holdings Corporation) (A subsidiary of Panasonic Holdings Corporation), Heatcraft Worldwide Refrigeration, Zero-zone, Saba Corp, Minus Forty, COOLPLUS COMMERCIAL REFRIGERATION & KITCHEN EQUIPMENT COMPANY LIMITED, Excellence Industries, VICTORY REFRIGERATION, DukersUSA among others.
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