Market Overview:
The global commercial and industrial refrigeration equipment market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for food processing, agricultural production, retail, petrochemical, biomedical and other applications across the globe. Additionally, the growing awareness about energy-efficient refrigeration systems is also propelling the growth of this market. On the basis of type, compression refrigerator held a major share of the global commercial and industrial refrigeration equipment market in 2017. This segment is projected to grow at a CAGR of 5.8% during 2018-2030 owing to its high efficiency and low maintenance cost as compared to other types of refrigerators available in this market such as absorption refrigerator (CAGR: 4%), steam jet refrigerator (CAGR: 6%) and semiconductor refrigerator (CAGR: 7%).
Product Definition:
Commercial refrigeration equipment is used to keep food items cold in a business setting. This type of equipment is typically found in restaurants, grocery stores, and other businesses that sell food. Industrial refrigeration equipment is used to keep things cold in a manufacturing or processing setting. This type of equipment can be found in factories that make food products, pharmaceuticals, and other items that need to be kept cool.
Compression Refrigerator:
The global compression refrigerator is a low-powered, portable air conditioner that uses the principle of refrigeration by reducing and controlling the volume of gases in their normal state. It does not use ice or water for cooling like other conventional air conditioners; instead it employs compressed gas to produce cold. Compression refrigerators are available in two forms - portable and fixed installation.
Absorption Refrigerator:
Absorption refrigerator is a heat pump which extracts heat from the surrounding and transfers it to a refrigerant, thus creating an artificial temperature difference. The refrigerant used in absorption refrigerators can be air or water-based. These are most commonly used for cooling food and beverage storage applications as they can effectively remove unwanted heat generated by these products without making any significant changes to the internal properties of the product.
Application Insights:
The market is segmented by application into food processing, agricultural production, retail, petrochemical, biomedical and others. The food processing application dominated the global market in 2017 owing to the increasing demand for refrigerated warehouses and storage facilities across the world. This can be attributed to growing consumerism in emerging economies such as China and India. In addition, rapid urbanization coupled with a rising preference for packaged foods has resulted in an increased need for cold storage facilities which will further fuel industry growth over the forecast period.
Retail was estimated as one of the largest industries on earth by some estimates based on 2016 data published by United Nations (UN). The retail industry globally uses a wide range of refrigeration equipment ranging from small compactors to large walk-in freezers depending upon their requirements.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The growth of this region can be attributed to rising demand for food processing equipment, especially in emerging economies such as China and India. Growing population, increasing disposable income levels, changing lifestyles along with rapid urbanization are some of the major factors driving industry expansion. Furthermore, growing agricultural production due to favorable climatic conditions is anticipated to drive product demand further over the coming years.
Europe accounted for a significant share owing to high industrial output from countries like Germany and Italy coupled with stringent government regulations regarding energy consumption in refrigeration systems implemented by manufacturers across Europe since 2005’s European Union Refrigerator & Freezer Directive (EU-RD). However, sluggish growth observed during 2016-2017 economic recession may hinder future market prospects; however it should be noted that recovery has already begun which bodes well for future industry development prospects.
Growth Factors:
- Increasing demand for food and beverages due to population growth
- Proliferation of supermarkets, hypermarkets, and convenience stores
- Growing demand for cold storage facilities in the food industry
- Rising awareness about energy-efficient refrigeration equipment
- Technological advancements in commercial and industrial refrigeration equipment
Scope Of The Report
Report Attributes
Report Details
Report Title
Commercial and Industrial Refrigeration Equipment Market Research Report
By Type
Compression Refrigerator, Absorption Refrigerator, Steam Jet Refrigerator, Semiconductor Refrigerator
By Application
Food Processing, Agricultural Production, Retail, Petrochemical, Biomedical, Other
By Companies
Daikin Global, Haier Group, Johnson Controls, Paul Mueller Company, Cold Shot Chillers, Mokon Chillers, Snow River Chillers, Blue Air, RTF Manufacturing, Specialty Refrigeration and Equipment, Daikin Global
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
230
Number of Tables & Figures
161
Customization Available
Yes, the report can be customized as per your need.
Global Commercial and Industrial Refrigeration Equipment Market Report Segments:
The global Commercial and Industrial Refrigeration Equipment market is segmented on the basis of:
Types
Compression Refrigerator, Absorption Refrigerator, Steam Jet Refrigerator, Semiconductor Refrigerator
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Food Processing, Agricultural Production, Retail, Petrochemical, Biomedical, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Daikin Global
- Haier Group
- Johnson Controls
- Paul Mueller Company
- Cold Shot Chillers
- Mokon Chillers
- Snow River Chillers
- Blue Air
- RTF Manufacturing
- Specialty Refrigeration and Equipment
- Daikin Global
Highlights of The Commercial and Industrial Refrigeration Equipment Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Compression Refrigerator
- Absorption Refrigerator
- Steam Jet Refrigerator
- Semiconductor Refrigerator
- By Application:
- Food Processing
- Agricultural Production
- Retail
- Petrochemical
- Biomedical
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Commercial and Industrial Refrigeration Equipment Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Commercial and industrial refrigeration equipment is used to cool products or materials. This can include items such as food, beverages, pharmaceuticals, and other goods.
Some of the key players operating in the commercial and industrial refrigeration equipment market are Daikin Global, Haier Group, Johnson Controls, Paul Mueller Company, Cold Shot Chillers, Mokon Chillers, Snow River Chillers, Blue Air, RTF Manufacturing, Specialty Refrigeration and Equipment, Daikin Global.
The commercial and industrial refrigeration equipment market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Commercial and Industrial Refrigeration Equipment Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Commercial and Industrial Refrigeration Equipment Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Commercial and Industrial Refrigeration Equipment Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Commercial and Industrial Refrigeration Equipment Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Commercial and Industrial Refrigeration Equipment Market Size & Forecast, 2018-2028
4.5.1 Commercial and Industrial Refrigeration Equipment Market Size and Y-o-Y Growth
4.5.2 Commercial and Industrial Refrigeration Equipment Market Absolute $ Opportunity
Chapter 5 Global Commercial and Industrial Refrigeration Equipment Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Commercial and Industrial Refrigeration Equipment Market Size Forecast by Type
5.2.1 Compression Refrigerator
5.2.2 Absorption Refrigerator
5.2.3 Steam Jet Refrigerator
5.2.4 Semiconductor Refrigerator
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Commercial and Industrial Refrigeration Equipment Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Commercial and Industrial Refrigeration Equipment Market Size Forecast by Applications
6.2.1 Food Processing
6.2.2 Agricultural Production
6.2.3 Retail
6.2.4 Petrochemical
6.2.5 Biomedical
6.2.6 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Commercial and Industrial Refrigeration Equipment Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Commercial and Industrial Refrigeration Equipment Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Commercial and Industrial Refrigeration Equipment Analysis and Forecast
9.1 Introduction
9.2 North America Commercial and Industrial Refrigeration Equipment Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Commercial and Industrial Refrigeration Equipment Market Size Forecast by Type
9.6.1 Compression Refrigerator
9.6.2 Absorption Refrigerator
9.6.3 Steam Jet Refrigerator
9.6.4 Semiconductor Refrigerator
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Commercial and Industrial Refrigeration Equipment Market Size Forecast by Applications
9.10.1 Food Processing
9.10.2 Agricultural Production
9.10.3 Retail
9.10.4 Petrochemical
9.10.5 Biomedical
9.10.6 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Commercial and Industrial Refrigeration Equipment Analysis and Forecast
10.1 Introduction
10.2 Europe Commercial and Industrial Refrigeration Equipment Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Commercial and Industrial Refrigeration Equipment Market Size Forecast by Type
10.6.1 Compression Refrigerator
10.6.2 Absorption Refrigerator
10.6.3 Steam Jet Refrigerator
10.6.4 Semiconductor Refrigerator
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Commercial and Industrial Refrigeration Equipment Market Size Forecast by Applications
10.10.1 Food Processing
10.10.2 Agricultural Production
10.10.3 Retail
10.10.4 Petrochemical
10.10.5 Biomedical
10.10.6 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Commercial and Industrial Refrigeration Equipment Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Commercial and Industrial Refrigeration Equipment Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Commercial and Industrial Refrigeration Equipment Market Size Forecast by Type
11.6.1 Compression Refrigerator
11.6.2 Absorption Refrigerator
11.6.3 Steam Jet Refrigerator
11.6.4 Semiconductor Refrigerator
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Commercial and Industrial Refrigeration Equipment Market Size Forecast by Applications
11.10.1 Food Processing
11.10.2 Agricultural Production
11.10.3 Retail
11.10.4 Petrochemical
11.10.5 Biomedical
11.10.6 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Commercial and Industrial Refrigeration Equipment Analysis and Forecast
12.1 Introduction
12.2 Latin America Commercial and Industrial Refrigeration Equipment Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Commercial and Industrial Refrigeration Equipment Market Size Forecast by Type
12.6.1 Compression Refrigerator
12.6.2 Absorption Refrigerator
12.6.3 Steam Jet Refrigerator
12.6.4 Semiconductor Refrigerator
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Commercial and Industrial Refrigeration Equipment Market Size Forecast by Applications
12.10.1 Food Processing
12.10.2 Agricultural Production
12.10.3 Retail
12.10.4 Petrochemical
12.10.5 Biomedical
12.10.6 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Commercial and Industrial Refrigeration Equipment Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Commercial and Industrial Refrigeration Equipment Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Commercial and Industrial Refrigeration Equipment Market Size Forecast by Type
13.6.1 Compression Refrigerator
13.6.2 Absorption Refrigerator
13.6.3 Steam Jet Refrigerator
13.6.4 Semiconductor Refrigerator
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Commercial and Industrial Refrigeration Equipment Market Size Forecast by Applications
13.10.1 Food Processing
13.10.2 Agricultural Production
13.10.3 Retail
13.10.4 Petrochemical
13.10.5 Biomedical
13.10.6 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Commercial and Industrial Refrigeration Equipment Market: Competitive Dashboard
14.2 Global Commercial and Industrial Refrigeration Equipment Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Daikin Global
14.3.2 Haier Group
14.3.3 Johnson Controls
14.3.4 Paul Mueller Company
14.3.5 Cold Shot Chillers
14.3.6 Mokon Chillers
14.3.7 Snow River Chillers
14.3.8 Blue Air
14.3.9 RTF Manufacturing
14.3.10 Specialty Refrigeration and Equipment
14.3.11 Daikin Global
