Commercial Refrigeration Equipment Market Expected to Account for US$ 45,913.5 Mn by 2026

Global Market Study on Commercial Refrigeration Equipment: Food and Beverage Retail
Segment Expected to be the Most Attractive Segment
The global commercial refrigeration equipment market is segmented on the basis of Product Type
(Transportation Refrigeration, Refrigerator and Freezer, Beverage Refrigeration Equipment,
Refrigerated Display Cases, Ice Machine, Refrigerated Vending Machine); Application (Food and
Beverage Production, Food and Beverage Retail, Food and Beverage Distribution, Food Service);
and Region (North America, Latin America, EU, EEU, Other CIS Countries, APAC, China, Middle
East, and Africa). The Refrigerator and Freezer segment is expected to dominate the global
commercial refrigeration equipment market during the forecast period. This segment is anticipated
to be valued at US$ 8,649.3 Mn by the end of 2016 and is slated to exhibit a CAGR of 4.7% during
the forecast period.
In a new report titled “Commercial Refrigeration Equipment Market: Global Industry Analysis and
Forecast, 2016 – 2026”, Persistence Market Research delivers key insights into the global
commercial refrigeration equipment market and analyzes the key factors and trends influencing
market performance. Sales revenue of the global commercial refrigeration equipment market is
expected to register a CAGR of 5.0% over the forecast period (2016–2026), to be valued at US$
45,913.5 Mn by 2026 end.
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Market dynamics
Rapid growth of the retail sector coupled with a robust growth of the food and related services
sector is expected to be a major driver for the global commercial refrigeration equipment market
over the forecast period. Furthermore, government regulations regarding usage of natural
refrigerants over synthetic refrigerants is another factor that is expected to propel the growth of the
global commercial refrigeration equipment market over the forecast period. However, decline in
replacement rates for commercial refrigeration equipment is anticipated to restrain the growth of the
global commercial refrigeration equipment market over the forecast period. Also, stringent
government regulations pertaining to the development of energy efficient and environmentally
friendly equipment is expected to be a challenge especially for Tier 2 and Tier 3 players.
The Food Service application segment is expected to be the largest segment in the global
commercial refrigeration equipment market and is estimated to account for a value share of 32.3%
by the end of 2016. The Food and Beverage Production segment was valued at US$ 4,705.3 Mn in
2015 while the Food and Beverage Retail segment stood at a market valuation of US$ 7,595.4 Mn
in 2015.
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Among regions, North America is expected to dominate the overall global commercial refrigeration
equipment market over the forecast period. Sales of commercial refrigeration equipment in North
America is projected to increase from US$ 7,960.7 Mn in 2015 to US$ 12.54 Bn by 2026. Growing
Asian economies such as China and India are expected to witness relatively faster growth during the
forecast period. The China commercial refrigeration equipment market is expected to grow with the
highest value CAGR of 8.2% in the forecast period. The market in Asia Pacific excluding China is
expected to register a relatively high CAGR of 5.3% throughout the period 2016-2026
Vendor highlights
Standex International Corporation, Lennox International Inc., Daikin Industries Ltd., Illinois Tool
Works Inc., AHT Cooling Systems GmbH, Whirlpool Corporation, United Technologies
Corporation, Manitowoc Company, Inc., Panasonic Corporation, Qingdao Haier Co. Ltd., Fujimak
Corporation, Hoshizaki Corporation, Electrolux AB, Dover Corporation, and Ingersoll-Rand PLC.,
are some of the leading companies operating in the global commercial refrigeration equipment
market. Top market players are focusing on – new product development and launch of advanced
and sustainable products through strategic R&D initiatives in product innovation; geographical
expansion especially in high-growth markets such as India, China, and Brazil by increasing the
number of manufacturing facilities worldwide; and collaborations / partnerships with established
players in mature markets for business expansion and growth.
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