Commercial Refrigeration System Market Growth, Share, Revenue, Manufacturer and Future Trends
Commercial Refrigeration System Market Size- By Type, By Application, By Operation, By Technology- Regional Outlook, Competitive Strategies and Segment Forecast to 2032
| Published: Feb-2023 | Report ID: POAE2319 | Pages: 1 - 234 | Formats*: |
| Category : Power & Energy | |||
Global Commercial Refrigeration System Market Overview
According to SPER Market Research, the Global Commercial Refrigeration System Market is estimated to reach USD 81.51 billion by 2032 with a CAGR of 5.03%.
A commercial refrigeration system is a type of refrigeration system that is designed to meet the specific needs of commercial settings, such as restaurants, supermarkets, convenience stores, and other food service establishments. These systems are typically larger and more complex than residential refrigeration systems and are designed to provide efficient cooling and preservation of large quantities of food and other perishable items. Commercial refrigeration systems may include a range of different components, such as refrigeration units, evaporators, compressors, condensers, and controls, and can be designed to meet a variety of different cooling requirements, from small reach-in refrigerators to large walk-in freezers. The systems may also incorporate various features to enhance energy efficiency, such as digital thermostats, high-efficiency compressors, and advanced control systems. The market is driven by factors such as the growing demand for frozen and chilled foods, increasing demand for energy-efficient refrigeration systems, and the expansion of the food retail industry.
The market is segmented by product type into transportation refrigeration systems, refrigerators and freezers, beverage refrigeration, and others. By end-use industry, the market is segmented into food service, food and beverage retail, and others. Geographically, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the World.
The Asia-Pacific region is expected to have the largest market share due to the growing food retail industry, increasing disposable incomes, and the growing demand for processed food. North America and Europe are also significant markets due to the presence of established food retail industries.
Impact of COVID-19 on the Global Commercial Refrigeration System Market
The COVID-19 pandemic has had a significant impact on the global commercial refrigeration system market. The pandemic has caused disruptions in the food supply chain, leading to fluctuations in demand for refrigeration systems, as well as changes in consumer behavior and safety regulations. The closure of restaurants, hotels, and other food service establishments during the pandemic led to a decline in demand for refrigeration systems in the first half of 2020. The closure of manufacturing facilities and supply chain disruptions also contributed to supply chain disruptions, causing delays and interruptions in the production and delivery of refrigeration systems. However, the pandemic also led to changes in consumer behavior, with an increased demand for frozen and packaged foods, which boosted demand for refrigeration systems in supermarkets, convenience stores, and other food retail establishments. The need for maintaining a safe and hygienic environment in commercial kitchens and food storage facilities also led to an increased demand for more advanced refrigeration systems, such as touchless refrigerators and freezers.
Despite the challenges caused by the pandemic, the market is expected to recover and grow in the coming years, driven by the increasing demand for frozen and chilled food products, the expansion of the food retail industry, and the growing demand for energy-efficient and environmentally friendly refrigeration systems.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2032 |
| Base year considered | 2021 |
| Forecast period | 2022-2032 |
| Segments covered | By Type, By Application, By Operation, By Technology |
| Regions covered | Asia-Pacific, Europe, Middle East and Africa, North America, Latin America |
| Companies Covered | Arneg S.P.A, Blue Star Limited, Daikin Industries, Ltd., Dover Corporation, Electrolux AB, Frigo glass SAIC, FUJIMAK Corporation, GEA Group AG, Hoshizaki Corporation, Illinois Tool Works Inc., Innovative Display Works, METALFRIO Solution SA, Panasonic Corporation, Precision Refrigeration Limited, QBD Molecular System, Shanghai ZHAOUXE Refrigeration Equipment Co. Ltd., Standex International Corporation, Structural Concept Corporation, True Manufacturing Co., Inc, Turbo Air Inc., Whirlpool Corporation, Zero Zone Inc. |
Global Commercial Refrigeration System Market Segmentation:
1. By Type:
- Beverage Refrigerator
- Freezers and Refrigerators
- Transportation Refrigerator
- Glass Door Merchandizers
- Display Cases
- Beverage Dispensers
2. By Application:
- Food Service
- Food and Beverage Production
- Food and Beverage Retention
- Food and Beverage Retail
3. By Operation:
- Plug -In
- Remote
4. By Technology:
- Conventional
- Smart Connected
5. By Region:
- Asia-Pacific
- Europe
- Middle East & Africa
- North America
- Latin America
Key Topics Covered in the Report:
- Size of Global Commercial Refrigeration System (FY’2019-FY’2032)
- Overview of Global Commercial Refrigeration System
- Segmentation of Global Commercial Refrigeration System By Type (Beverage Refrigerator, Freezers and Refrigerator, Transportation Refrigerator, Glass Door Merchandizers, Display Cases, Beverage Dispenser)
- Segmentation of Global Commercial Refrigeration System By Application (Food Services, Food and Beverages, Food and Retention, Food and Beverage Retail)
- Segmentation of Global Commercial Refrigeration System By Operation (Plug-In, Remote)
- Segmentation of Global Commercial Refrigeration System By Technology (Conventional, Smart Connected)
- Statistical Snap of Global Commercial Refrigeration System
- Growth Analysis of Global Commercial Refrigeration System
- Problems and Challenges in Global Commercial Refrigeration System
- Competitive Landscape in the Global Commercial Refrigeration System
- Impact of COVID-19 and Demonetization on Global Commercial Refrigeration System
- Details on Recent Investment in Global Commercial Refrigeration System
- Competitive Analysis of Global Commercial Refrigeration System
- Major Players in the Global Commercial Refrigeration System
- SWOT Analysis of Global Commercial Refrigeration System
- Global Commercial Refrigeration System Future Outlook and Projections (FY’2019-FY’2032)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1 Research data source2.1.1 Secondary data2.1.2 Primary data2.1.3 SPER’s internal database2.1.4 Premium insight from KOL’s2.2 Market size estimation2.2.1 Top-down and Bottom-up approach2.3 Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1 Drivers4.1.2 Restraints4.1.3 Opportunities4.1.4 Challenges4.2. COVID-19 Impacts of the Global Commercial Refrigeration System Market
5. Market variables and outlook
5.1. SWOT analysis5.1.1 Strengths5.1.2 Weaknesses5.1.3 Opportunities5.1.4 Threats5.2. PESTEL analysis5.2.1 Political landscape5.2.2 Economic landscape5.2.3 Social landscape5.2.4 Technological landscape5.2.5 Environmental landscape5.2.6 Legal landscape5.3. PORTER’S five forces analysis5.3.1 Bargaining power of suppliers5.3.2 Bargaining power of Buyers5.3.3 Threat of Substitute5.3.4 Threat of new entrant5.3.5 Competitive rivalry5.4. Heat map analysis
6. Competitive Landscape
6.1 Global Commercial Refrigeration System Market Manufacturing Base Distribution, Sales Area, Product Type6.2 Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Commercial Refrigeration System Market
7. Global Commercial Refrigeration System Market, By Type, 2019-2032 (USD Million)
7.1 Beverage Refrigerator7.1.1 Drinking Fountain7.1.2 Soda Fountain7.1.3 Beer Dispensing Equipment7.1.4 Beverage Coolers7.2 Freezers and Refrigerators7.2.1 Freezers and Chillers7.2.2 Blast Chiller7.2.3 Contact Freezer7.2.4 Refrigerators7.2.5 Walk -in Refrigerators7.2.6 Reach- in Refrigerators7.3 Transportation Refrigerator7.3.1 Trailers7.3.2 Trucks7.3.3 Shipping Containers7.4 Glass Door Merchandizers7.4.1 Hinged Door7.4.2 Sliding Door7.5 Display Cases7.5.1 Ice-cream Cabinets7.5.2 Bakery/Deli Display7.6 Beverage Dispensers7.6.1 Refrigerated Vending Machine7.6.2 Ice Machine7.6.3 Ice-cream Machine
8. Global Commercial Refrigeration System Market, By Application, 2019-2032 (USD Million)
8.1 Food Service8.2 Food and Beverage Production8.3 Food and Beverage Retention8.4 Food and Beverage Retail
9. Global Commercial Refrigeration System Market, By Operation, 2019-2032 (USD Million)
9.1 Plug -In9.2 Remote
10. Global Commercial Refrigeration System Market, By Technology, 2019-2032 (USD Million)
10.1 Conventional10.2 Smart Connected
11. Global Commercial Refrigeration System Market, By Region, 2019-2032 (USD Million)
11.1 Global Commercial Refrigeration System Market Size and Market Share by Region (2019-2025)11.2 Global Commercial Refrigeration System Market Size and Market Share by Region (2026-2032)11.3 Asia-Pacific11.3.1 Australia11.3.2 China11.3.3 India11.3.4 Japan11.3.5 South Korea11.3.6 Rest of Asia-Pacific11.4 Europe11.4.1 France11.4.2 Germany11.4.3 Italy11.4.4 Spain11.4.5 United Kingdom11.4.6 Rest of Europe11.5 Middle East and Africa11.5.1 Kingdom of Saudi Arabia11.5.2 United Arab Emirates11.5.3 Rest of Middle East & Africa11.6 North America11.6.1 Canada11.6.2 Mexico11.6.3 United States11.7 Latin America11.7.1 Argentina11.7.2 Brazil11.7.3 Rest of Latin America
12.Company Profiles
12.1 Arneg S.p.A12.1.1 Company details12.1.2 Financial outlook12.1.3 Product summary12.1.4 Recent developments12.2 Blue Star Limited12.2.1 Company details12.2.2 Financial outlook12.2.3 Product summary12.2.4 Recent developments12.3 Daikin Industries, Ltd.12.3.1 Company details12.3.2 Financial outlook12.3.3 Product summary12.3.4 Recent developments12.4 Dover Corporation12.4.1 Company details12.4.2 Financial outlook12.4.3 Product summary12.4.4 Recent developments12.5 Electrolux AB12.5.1 Company details12.5.2 Financial outlook12.5.3 Product summary12.5.4 Recent developments12.6 Frigo glass SAIC12.6.1 Company details12.6.2 Financial outlook12.6.3 Product summary12.6.4 Recent developments12.7 Fujimak Corporation12.7.1 Company details12.7.2 Financial outlook12.7.3 Product summary12.7.4 Recent developments12.8 GEA Group AG12.8.1 Company details12.8.2 Financial outlook12.8.3 Product summary12.8.4 Recent developments12.9 Hoshizaki Corporation12.9.1 Company details12.9.2 Financial outlook12.9.3 Product summary12.9.4 Recent developments12.10 Illinois Tool Works Inc.12.10.1 Company details12.10.2 Financial outlook12.10.3 Product summary12.10.4 Recent developments12.11 Innovative Display Works12.11.1 Company details12.11.2 Financial outlook12.11.3 Product summary12.11.4 Recent developments12.12 Metalfrio Solution SA12.12.1 Company details12.12.2 Financial outlook12.12.3 Product summary12.12.4 Recent developments12.13 Panasonic Corporation12.13.1 Company details12.13.2 Financial outlook12.13.3 Product summary12.13.4 Recent developments12.14 Precision Refrigeration Limited12.14.1 Company details12.14.2 Financial outlook12.14.3 Product summary12.14.4 Recent developments12.15 QBD Molecular System12.15.1 Company details12.15.2 Financial outlook12.15.3 Product summary12.15.4 Recent developments12.16 Shanghai Zhaoxue Refrigeration Equipment Co., Ltd.12.16.1 Company details12.16.2 Financial outlook12.16.3 Product summary12.16.4 Recent developments12.17 Standex International Corporation12.17.1 Company details12.17.2 Financial outlook12.17.3 Product summary12.17.4 Recent developments12.18 Structural Concept Corporation12.18.1 Company details12.18.2 Financial outlook12.18.3 Product summary12.18.4 Recent development12.19 True Manufacturing Co., Inc.12.19.1 Company details12.19.2 Financial outlook12.19.3 Product outlook12.19.4 Recent development12.20 Turbo Air Inc.12.20.1 Company details12.20.2 Financial outlook12.20.3 Product outlook12.20.4 Recent development12.21 Whirlpool Corporation12.21.1 Company details12.21.2 Financial outlook12.21.3 Product outlook12.21.4 Recent developments
12.22 Zero Zone Inc.12.22.1 Company details12.22.2 Financial outlook12.22.3 Product Outlook12.22.4 Recent development
13.List of Abbreviations
14.Reference Links
15.Conclusion
16.Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Commercial Refrigeration System Market is projected to reach USD 81.51 billion by 2032, growing at a CAGR of 5.03% during the forecast period.
Commercial Refrigeration System Market grew in market size from 2021. The Market is expected to reach USD 81.51 billion by 2032, at a CAGR of 5.03% during the forecast period.
Commercial Refrigeration System Market CAGR of 5.03% during the forecast period.
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Commercial Refrigeration System Market size is USD 81.51 billion from 2022 to 2032.
Commercial Refrigeration System Market Segment is Covered By Type, By Application, By Operation, By Technology
The North America region is anticipated to have the highest market share in Commercial Refrigeration System Market.
The key players in the market include Companies Covered Arneg S.P.A, Blue Star Limited, Daikin Industries, Ltd., Dover Corporation, Electrolux AB, Frigo glass SAIC, FUJIMAK Corporation, GEA Group AG, Hoshizaki Corporation, Illinois Tool Works Inc., Innovative Display Works, METALFRIO Solution SA, Panasonic Corporation, Precision Refrigeration Limited, QBD Molecular System, Shanghai ZHAOUXE Refrigeration Equipment Co. Ltd., Standex International Corporation, Structural Concept Corporation, True Manufacturing Co., Inc, Turbo Air Inc., Whirlpool Corporation, Zero Zone Inc.
A commercial refrigeration system is a type of refrigeration system that is designed to meet the specific needs of commercial settings, such as restaurants, supermarkets, convenience stores, and other food service establishments.
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