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Commercial Refrigeration Equipment Global Market Report 2021: COVID-19 Impact and Recovery to 2030

  • ID: 5323274
  • Report
  • May 2021
  • Region: Global
  • The Business Research Company

FEATURED COMPANIES

  • Daikin Industries Ltd.
  • Danfoss
  • Dover Corporation
  • Emerson Electric Company
  • Haier Group Corp
  • Johnson Control Inc.
Commercial Refrigeration Equipment Global Market Report 2021: COVID-19 Impact and Recovery to 2030 provides the strategists, marketers and senior management with the critical information they need to assess the global commercial refrigeration equipment market as it emerges from the COVID-19 shut down.







Reasons to Purchase
  • Gain a truly global perspective with the most comprehensive report available on this market covering 12+ geographies.
  • Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
  • Create regional and country strategies on the basis of local data and analysis.
  • Identify growth segments for investment.
  • Outperform competitors using forecast data and the drivers and trends shaping the market.
  • Understand customers based on the latest market research findings.
  • Benchmark performance against key competitors.
  • Utilize the relationships between key data sets for superior strategizing.
  • Suitable for supporting your internal and external presentations with reliable high quality data and analysis

Description:

Where is the largest and fastest growing market for the commercial refrigeration equipment ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Commercial Refrigeration Equipmen market global report answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider commercial refrigeration equipment market, and compares it with other markets.
  • The market characteristics section of the report defines and explains the market.
  • The market size section gives the market size ($b) covering both the historic growth of the market, the impact of the COVID-19 virus and forecasting its recovery.
  • Market segmentations break down market into sub markets.
  • The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
  • Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
  • The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
  • The commercial refrigeration equipment market section of the report gives context. It compares the commercial refrigeration equipment market with other segments of the commercial refrigeration equipment market by size and growth, historic and forecast.

Scope

Markets Covered:

1) By Product Type: Refrigerator & Freezer; Transportation Refrigeration; Refrigerated Display Cases; Beverage Refrigeration; Ice Cream Merchandiser; Refrigerated Vending Machine2) By Application: Hotels & Restaurants; Supermarkets & Hypermarkets; Convenience Stores; Bakery 3) By Refrigerant Type: Fluorocarbons; Hydrocarbons; Inorganics

Companies Mentioned: Dover Corporation; Daikin Industries Ltd.; Carrier Commercial Refrigeration Inc.; Johnson Control Inc.; Haier Group Corp

Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time series: Five years historic and ten years forecast.

Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,

Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.

Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
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Frequently Asked Questions about the Global Commercial Refrigeration Equipment Market

What is the estimated value of the Global Commercial Refrigeration Equipment Market?

The Global Commercial Refrigeration Equipment Market was estimated to be valued at $60.4 billion in 2021.

What is the growth rate of the Global Commercial Refrigeration Equipment Market?

The growth rate of the Global Commercial Refrigeration Equipment Market is 6.1%, with an estimated value of $76.6 billion by 2025.

What is the forecasted size of the Global Commercial Refrigeration Equipment Market?

The Global Commercial Refrigeration Equipment Market is estimated to be worth $76.6 billion by 2025.

Who are the key companies in the Global Commercial Refrigeration Equipment Market?

Key companies in the Global Commercial Refrigeration Equipment Market include Dover Corporation, Daikin Industries Ltd., Carrier Commercial Refrigeration Inc., Johnson Control Inc., Haier Group Corp and Emerson Electric Company.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Daikin Industries Ltd.
  • Danfoss
  • Dover Corporation
  • Emerson Electric Company
  • Haier Group Corp
  • Johnson Control Inc.

1. Executive Summary2. Commercial Refrigeration Equipment Market Characteristics3. Commercial Refrigeration Equipment Market Trends and Strategies4. Impact of COVID-19 on Commercial Refrigeration Equipment
5. Commercial Refrigeration Equipment Market Size and Growth
5.1. Global Commercial Refrigeration Equipment Historic Market, 2015-2020, $ Billion
5.1.1. Drivers of the Market
5.1.2. Restraints on the Market
5.2. Global Commercial Refrigeration Equipment Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers of the Market
5.2.2. Restraints on the Market
6. Commercial Refrigeration Equipment Market Segmentation
6.1. Global Commercial Refrigeration Equipment Market, Segmentation by Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Refrigerator & Freezer
  • Transportation Refrigeration
  • Refrigerated Display Cases
  • Beverage Refrigeration
  • Ice Cream Merchandiser
  • Refrigerated Vending Machine
6.2. Global Commercial Refrigeration Equipment Market, Segmentation by Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Hotels & Restaurants
  • Supermarkets & Hypermarkets
  • Convenience Stores
  • Bakery
6.3. Global Commercial Refrigeration Equipment Market, Segmentation by Refrigerant Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Fluorocarbons
  • Hydrocarbons
  • Inorganics

7. Commercial Refrigeration Equipment Market Regional and Country Analysis
7.1. Global Commercial Refrigeration Equipment Market, Split by Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Commercial Refrigeration Equipment Market, Split by Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
8. Asia-Pacific Commercial Refrigeration Equipment Market
8.1. Asia-Pacific Commercial Refrigeration Equipment Market Overview
  • Region Information, Impact of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Commercial Refrigeration Equipment Market, Segmentation by Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
9. China Commercial Refrigeration Equipment Market
9.1. China Commercial Refrigeration Equipment Market Overview
9.2. China Commercial Refrigeration Equipment Market, Segmentation by Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F,$ Billion
10. India Commercial Refrigeration Equipment Market
10.1. India Commercial Refrigeration Equipment Market, Segmentation by Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
11. Japan Commercial Refrigeration Equipment Market
11.1. Japan Commercial Refrigeration Equipment Market, Segmentation by Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
12. Australia Commercial Refrigeration Equipment Market
12.1. Australia Commercial Refrigeration Equipment Market, Segmentation by Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
13. Indonesia Commercial Refrigeration Equipment Market
13.1. Indonesia Commercial Refrigeration Equipment Market, Segmentation by Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
14. South Korea Commercial Refrigeration Equipment Market
14.1. South Korea Commercial Refrigeration Equipment Market, Segmentation by Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
15. Western Europe Commercial Refrigeration Equipment Market
15.1. Western Europe Commercial Refrigeration Equipment Market Overview
15.2. Western Europe Commercial Refrigeration Equipment Market, Segmentation by Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
16. UK Commercial Refrigeration Equipment Market
16.1. UK Commercial Refrigeration Equipment Market, Segmentation by Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
17. Germany Commercial Refrigeration Equipment Market
17.1. Germany Commercial Refrigeration Equipment Market, Segmentation by Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
18. France Commercial Refrigeration Equipment Market
18.3. France Commercial Refrigeration Equipment Market, Segmentation by Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
19. Eastern Europe Commercial Refrigeration Equipment Market
19.1. Eastern Europe Commercial Refrigeration Equipment Market Overview
19.2. Eastern Europe Commercial Refrigeration Equipment Market, Segmentation by Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
20. Russia Commercial Refrigeration Equipment Market
20.1. Russia Commercial Refrigeration Equipment Market, Segmentation by Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
21. North America Commercial Refrigeration Equipment Market
21.1. North America Commercial Refrigeration Equipment Market Overview
21.2. North America Commercial Refrigeration Equipment Market, Segmentation by Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
22. USA Commercial Refrigeration Equipment Market
22.1. USA Commercial Refrigeration Equipment Market Overview
22.2. USA Commercial Refrigeration Equipment Market, Segmentation by Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
23. South America Commercial Refrigeration Equipment Market
23.1. South America Commercial Refrigeration Equipment Market Overview
23.2. South America Commercial Refrigeration Equipment Market, Segmentation by Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
24. Brazil Commercial Refrigeration Equipment Market
24.1. Brazil Commercial Refrigeration Equipment Market, Segmentation by Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
25. Middle East Commercial Refrigeration Equipment Market
25.1. Middle East Commercial Refrigeration Equipment Market Overview
25.2. Middle East Commercial Refrigeration Equipment Market, Segmentation by Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
26. Africa Commercial Refrigeration Equipment Market
26.1. Africa Commercial Refrigeration Equipment Market Overview
26.2. Africa Commercial Refrigeration Equipment Market, Segmentation by Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
27. Commercial Refrigeration Equipment Market Competitive Landscape and Company Profiles
27.1. Commercial Refrigeration Equipment Market Competitive Landscape
27.2. Commercial Refrigeration Equipment Market Company Profiles
27.2.1. Dover Corporation
27.2.1.1. Overview
27.2.1.2. Products and Services
27.2.1.3. Strategy
27.2.1.4. Financial Performance
27.2.2. Daikin Industries Ltd.
27.2.2.1. Overview
27.2.2.2. Products and Services
27.2.2.3. Strategy
27.2.2.4. Financial Performance
27.2.3. Carrier Commercial Refrigeration Inc.
27.2.3.1. Overview
27.2.3.2. Products and Services
27.2.3.3. Strategy
27.2.3.4. Financial Performance
27.2.4. Johnson Control Inc.
27.2.4.1. Overview
27.2.4.2. Products and Services
27.2.4.3. Strategy
27.2.4.4. Financial Performance
27.2.5. Haier Group Corp
27.2.5.1. Overview
27.2.5.2. Products and Services
27.2.5.3. Strategy
27.2.5.4. Financial Performance
29. Key Mergers and Acquisitions in the Commercial Refrigeration Equipment Market29. Commercial Refrigeration Equipment Market Future Outlook and Potential Analysis
30. Appendix
30.1. Abbreviations
30.2. Currencies
30.3. Research Inquiries
30.4. About the Publisher
30.5. Copyright and Disclaimer
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Daikin Industries Ltd.
  • Danfoss
  • Dover Corporation
  • Emerson Electric Company
  • Haier Group Corp
  • Johnson Control Inc.
Major players in the commercial refrigeration equipment market are Dover Corporation, Daikin Industries Ltd., Carrier Commercial Refrigeration Inc., Johnson Control Inc., and Haier Group Corp.

The global commercial refrigeration equipment market is expected to grow from $59.21 billion in 2020 to $60.36 billion in 2021 at a compound annual growth rate (CAGR) of 1.9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $76.63 billion in 2025 at a CAGR of 6.1%.

The commercial refrigeration equipment market consists of sales of commercial refrigeration equipment by entities (organizations, sole traders, and partnerships) that produce commercial refrigeration equipment such as refrigerators and freezers used in supermarkets, convenience stores, restaurants, and commercial kitchens.

Companies are concentrating on incorporating the latest technologies such as artificial intelligence, 5G, and machine learning into the commercial refrigeration equipment for decreasing electrical consumption, improved preventive maintenance, and better customer experience. For instance, in August 2020, Axiom Cloud and Turn tide Technologies collaborated to stimulate AI in Commercial refrigeration. Axiom will license divisions of its IoT infrastructure to Turn tide to support Turn tide's mission to reduce the 25% of global electricity consumption that is misused by legacy motors. Furthermore, in May 2019, the UTStarcom company launched the goBox together with China Mobile Group Zhejiang Company (Hangzhou), its first 5G-powered smart commercial refrigerator. The smart vending machine, goBox created a new way of shopping with an enhanced buying experience, driving greater consumption per transaction. The device is enabled by a powerful system platform supported by 5G, mobile cloud, and artificial intelligence.

The commercial refrigeration equipment market covered in this report is segmented by product type into refrigerator & freezer; refrigerated display cases; beverage refrigeration; ice cream merchandiser; refrigerated vending machine, by application into hotels & restaurants; supermarkets & hypermarkets; convenience stores; bakery.

In February 2019, Daikin Industries, Ltd, a Japan-based manufacturer of air conditioning units HVAC-R systems, filtration systems, and chemicals, through its subsidiary Daikin Europe N.V has acquired AHT Cooling Systems GmbH for approximately $656 million (€579 million). This acquisition enabled Daikin Industries, Ltd to be a one-stop provider offering complete coordination of air conditioning and refrigeration products as it has added AHT Cooling Systems GmbH products and services relating to air conditioning and commercial equipment. It also strengthens the expansion of Daikin Industries, Ltd in Europe, and natural refrigerant portfolio as AHT Cooling Systems GmbH focuses on natural refrigerant like propane-based equipment. AHT Cooling Systems GmbH is an Austria-based provider of refrigerator and freezer systems for retail and industry.

The increasing demand for frozen & chilled products from consumers is anticipated to drive the commercial refrigeration market. Preference for frozen & chilled products have increased due to changing lifestyle, accelerated urbanization, and benefits offered by frozen products such as longer shelf life, convenience, reduced food preparation & clean up time. As per the study of the American Frozen Food Institute (AFFI) released in May 2020, there is a significant growth in the purchase of frozen products among consumers with 70% of consumers buying more frozen food than usual during the COVID-19 situation. Frozen food sales increased to 80% in the week of March 15 and 94% in the week of March 22 when compared to the same weeks in 2019. Frozen and chilled products are stored in commercial refrigerators in supermarkets, hypermarkets, and refrigerated trucks from where they are bought and transported. This is likely to generate a higher requirement for commercial refrigeration equipment for storing, which propels the growth of the market.

High equipment and installation cost of equipment is expected to hinder the commercial refrigeration equipment market’s growth. For instance, the total cost of the walk-in cooler including installation range from $3,000 to $9,000. In addition to this, the average cost of commercial refrigeration equipment repair falls between $100 and $325. This high cost of the equipment, installation, and maintenance are extremely unaffordable to smaller retailers who rent these services or opt for non-commercial variants, which hinders the growth of the commercial refrigeration equipment market.
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • Dover Corporation
  • Daikin Industries Ltd.
  • Carrier Commercial Refrigeration Inc.
  • Johnson Control Inc.
  • Haier Group Corp
  • Danfoss
  • Emerson Electric Company
Note: Product cover images may vary from those shown

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