Transparency Market
Research has announced a new publication, titled “Refrigerated
Display Cases, Beverage Refrigerators and Dispensers, and Chilled
Rooms Market - Global Industry Analysis, Size, Share, Growth,
Trends and Forecast 2015 - 2022”. According to this report, the
global commercial refrigeration market will expand at a 10.10% CAGR
during the forecast period from 2015 to 2022. In 2014, the global
commercial refrigeration market was worth US$31.7 bn and by 2022, the
market is projected to be worth US$66.9 bn.
The global market
for commercial refrigeration equipment has been healthy growth due to
surge in demand for equipment such as refrigerated display cases,
chilled rooms, beverage refrigerators and dispensers. Refrigerated
display cases (RDCs) are refrigeration equipment used for displaying
and storing products (food items) in chilled or frozen conditions.
Hybrid versions of these RDCs which have combination of refrigeration
and heating have been trending in the market, especially with demand
from quick service restaurants and similar food service outlets.
Chilled/cold room is a refrigerated area (chamber) used to store
perishable food items and vegetables in the seafood and meat
industry, dairy and ice cream industry, horticulture and floriculture
industry, hospitals, research laboratories, hotel and restaurant
industry and pharmaceutical industry. Refrigeration of beverages
requires beverage refrigerators whereas the last segment drinking
fountains and water dispensers are used across variety of locations.
Factors such as changing consumer lifestyle, rise in consumer
dispensable income and expanding retail (food retail) store network
are expected to support the market growth of these commercial
refrigeration equipment market during the forecast period.
In 2014, chilled
rooms segment dominated the global commercial refrigeration equipment
market in terms of revenue. The growth in this segment is mainly
driven by growing online retailing systems which increase the demand
for chilled rooms with growing number of warehouse used for storage
of perishable food products. Additionally, high initial purchase
price boosts its revenue. On the basis of product type, chilled rooms
market is segmented as walk-in cooler rooms, walk-in freezers rooms
and walk-in hybrid rooms. In 2014, walk-in cooler rooms accounted for
major revenue share of the global chilled room market revenue,
estimated close to 47%. On the basis of product design, RDCs market
is segmented as vertical, horizontal and others
(hybrid/semi-vertical). In 2014, vertical (front open) RDCs dominated
the global refrigerated display cases market in terms of revenue.
More display space per unit area of floor makes vertical RDCs
preferred by store operators thus boosting the growth for this
segment. On the basis of product type, RDCs market is segmented as –
plug-in and remote.
The global RDCs and chilled rooms market is highly fragmented with a
huge number of global and regional participants. Dover Corporation,
Frigoglass, Manitowoc Company, Inc., United Technologies Corporation,
and Hoshizaki International are a few players dominating the RDCs and
chilled rooms market. The key market players keep on
doing mergers and acquisitions, development in distribution network,
and expansion in product line to gain competitive edge over their
peers.
Demand from small to
medium sized stores is expected to drive the growth of plug-in RDCs
market which require limited investment and floor space as compared
to remote systems. Benefits such as lower installation time and
flexibility to move are the key attributes for plug-in RDCs market
growth. Vertical RDCs are suited for non-sub-zero items (fast moving
items) which see higher volume sales and turn-around as compared to
sub-zero storage. Vertical RDCs are expected to see higher demand as
against horizontal and other types of RDCs, which have higher
preference across organized large size retail stores.
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Geographically,
Asia-Pacific is the largest revenue contributor in RDCs, chilled
rooms, beverage refrigerators and dispensers market. Booming
commercial sector, especially hotels, restaurants, catering and
retail industry is driving the commercial refrigeration equipment
market. Europe and North America are witnessing high competition in
the market for commercial refrigeration equipment market as these
regions are saturated with local and global brands.
Major players
in the market include Amerikooler Inc, U.S. Cooler Company, SRC
Refrigeration, Vestforst A/S, Zero Zone, Inc., ColdKit, Sanden
Corporation, ISA Italy S.r.l, Epta S.p.A., Blue Star Ltd., AHT
Cooling Systems GmbH, Lennox International, Inc., Hussmann
International, Inc., Illinois Tool Works, Inc., Dover Corporation,
United Technologies Corporation – Climate, Controls & Security
Unit (Carrier), Daikin Industries, Ltd., Beverage-Air Corporation,
Metalfrio Solutions S.A. among others. Focus on eco-friendly and
energy efficient product development, innovation, expansion through
mergers and acquisition and portfolio development are few of the
strategies adopted by leading players to retain their position in the
commercial refrigeration equipment market.
About Us :
Transparency Market
Research is a global market intelligence company, providing global
business information reports and services. Our exclusive blend of
quantitative forecasting and trends analysis provides forward-looking
insight for thousands of decision makers. Our experienced team of
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