Commercial Refrigerator Market
Global Commercial Refrigerator Market Size, Share & Trends Analysis Report By Refrigerant Type (Hydrochlorofluorocarbon, Hydrofluorocarbon, Hydrofluoroolefins, and Other), By Application (Foodservice Industry, Beverage Industry, Frozen Food, & Ice Cream Industry, and Research, Laboratory & Pharmaceutical Storage), Forecast Period 2020-2026 Update Available - Forecast 2024-2030
The commercial refrigerator market is anticipated to grow at a significant CAGR of 5.7% during the forecast period. The commercial refrigerator market growth is mainly attributed to the growing demand for meat, dairy products, and frozen food products across the globe. Additionally, the advancement in technology is also significantly driving product innovation in the commercial refrigerator industry. Moreover, the rapidly expanding retail sector and chains of cold food chains are also aiding the growth of the commercial refrigerator market growth during the forecast period.
The significant advancements in the medical and pharmaceutical sectors are also rising the demand for refrigerators for the storage of various temperature-sensitive drugs and vaccines. It is also expected to fuel the commercial refrigerator market during the forecast period. However, the considerably low rate of replacement and up-gradation of commercial refrigerators is expected to challenge the market.
Segmental Outlook
The global commercial refrigerator market is segmented based on refrigerant type and application. Based on the refrigerant type, the market is sub-segmented into hydrochlorofluorocarbon, hydrofluorocarbon, hydrofluoroolefins, and others. Based on the application, the market is sub-segmented into the foodservice industry, beverage industry, frozen food & ice cream industry, and research, laboratory & pharmaceutical storage.
The foodservice industry segment will grow with a considerable growth rate
The foodservice industry segment is anticipated to grow with a significant CAGR in the commercial refrigerator market during the forecast period. The growth of the segment can be attributed to the increasing popularity of ready to eat food products across the globe. Additionally, the refrigerator’s adoption in the foodservice industry is also high as it aids in significantly reducing the food waste and spoilage of stored food. Furthermore, the commercial refrigerators used in the foodservice industry are transparent thus providing a good display of inner stored products. This in turn will drive the appeal of products among consumers.
Global Commercial Refrigerator Market Share by Application, 2019 (%)
Regional Outlooks
The global commercial refrigerator market is further segmented based on geography including North America, Europe, Asia-Pacific, and the Rest of the World. North America is anticipated to be a leading region in the commercial refrigerator market. It is mainly influenced by the high popularity of quick food and fast-food restaurants across the region. Additionally, the high consumption of frozen products especially meat are also anticipated to drive commercial refrigerators among retailers. Besides, the adoption of commercial refrigerators is also expected to be significantly high among the supermarket and hypermarket of the region. Furthermore, the strong presence of global players across the region that are continuously innovating with their products to meet the modern-day requirements of the commercial refrigerator will also influence the market during the forecast period.
Global Commercial Refrigerator Market Growth, by Region 2020-2026
Asia-Pacific will have lucrative growth in the global commercial refrigerator market
The Asia Pacific is estimated to witness considerable growth of CAGR 6.5% in the global commercial refrigerator market during the forecast period. The growth of the market is owing to the changing food consumption habits of the people which is promoting the sales of frozen and ready to consume food products. Additionally, the developing pharmaceutical and medical industry growth especially in India and China is also aiding the increasing adoption of medical-grade refrigerators.
Market Players Outlook
The key players of the commercial refrigerator market include Danby Products Ltd., Electrolux AB, Hitachi Ltd., Carrier Global Corp., Liebherr-International Deutschland GmbH, Panasonic Corp., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including merger, and acquisition, collaborations, expansions, and new product launches to stay competitive in the market.
Recent Activities
- In June 2020, Capital Cooling launched a contact-free refrigerator with automatic doors in the commercial refrigerator range. The refrigerator is equipped with ‘Smartflex’, the technology patented by ISA, and will allow the customer to reach inside without touching the external entryway.
- In January 2020, Hoshizaki Corp. the subsidiary of Western Refrigeration Pvt. Ltd. launched a range of static cooling commercial refrigerators in the Indian market. The company is aiming to raise its international profile as a foodservice equipment manufacturer with such product launches.
The Report Covers
- Market value data analysis of 2019 and forecast to 2026.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global commercial refrigerator market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Geography
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Competitive Dashboard
3.2. Key Strategy Analysis
3.3. Key Company Analysis
3.3.1. Danby Corp.
3.3.1.1. Overview
3.3.1.2. Financial Analysis
3.3.1.3. SWOT Analysis
3.3.1.4. Recent Developments
3.3.2. Electrolux AB
3.3.2.1. Overview
3.3.2.2. Financial Analysis
3.3.2.3. SWOT Analysis
3.3.2.4. Recent Developments
3.3.3. Glen Dimplex Group
3.3.3.1. Overview
3.3.3.2. Financial Analysis
3.3.3.3. SWOT Analysis
3.3.3.4. Recent Developments
3.3.4. Liebherr-International Deutschland GmbH
3.3.4.1. Overview
3.3.4.2. Financial Analysis
3.3.4.3. SWOT Analysis
3.3.4.4. Recent Developments
3.3.5. Panasonic Corp.
3.3.5.1. Overview
3.3.5.2. Financial Analysis
3.3.5.3. SWOT Analysis
3.3.5.4. Recent Developments
4. Market Determinants
4.1. Motivators
4.2. Restraints
4.3. Opportunities
5. Market Segmentation
5.1. Global Commercial Refrigerator Market by Refrigerant Type
5.1.1. Hydrochlorofluorocarbon (HCFC)
5.1.2. Hydrofluorocarbon (HFC)
5.1.3. Hydrofluoroolefins (HFOs)
5.1.4. Other Refrigerants (Natural Refrigerant, Inorganics)
5.2. Global Commercial Refrigerator Market by Application
5.2.1. Foodservice Industry
5.2.2. Beverage Industry
5.2.3. Frozen Food and Ice Cream Industry
5.2.4. Research, Laboratory and Pharmaceutical Storage
5.2.5. Other
6. Regional Analysis
6.1. North America
6.1.1. United States
6.1.2. Canada
6.2. Europe
6.2.1. UK
6.2.2. Germany
6.2.3. Italy
6.2.4. Spain
6.2.5. France
6.2.6. Rest of Europe
6.3. Asia-Pacific
6.3.1. China
6.3.2. India
6.3.3. Japan
6.3.4. Rest of Asia-Pacific
6.4. Rest of the World
7. Company Profiles
7.1. Blue Star Ltd.
7.2. Capital Cooling Refrigeration Ltd.
7.3. Danby Products Inc.
7.4. Dover Corp.
7.5. EcoSolarCool
7.6. EdgeStar (Living Direct, Inc.)
7.7. Electrolux AB
7.8. Glen Dimplex Group
7.9. Godrej & Boyce Manufacturing Co. Ltd.
7.10. Hitachi, Ltd. (Johnson Controls–Hitachi Air Conditioning)
7.11. HOSHIZAKI Corp.
7.12. Liebherr-International Deutschland GmbH
7.13. Panasonic Corp.
7.14. Robert Bosch GmbH
7.15. Saba Corp.
7.16. Thalheimer Kühlung GmbH & Co. KG
7.17. Carrier Global Corp.
7.18. Viking Range, LLC
7.19. Voltas, Ltd.
1. GLOBAL COMMERCIAL REFRIGERATOR MARKET RESEARCH AND ANALYSIS BY REFRIGERANT TYPE, 2019-2026 ($ MILLION)
2. GLOBAL HYDRO CHLOROFLUOROCARBON MARKET RESEARCH AND ANALYSIS BY REGION, 2019-2026 ($ MILLION)
3. GLOBAL HYDRO FLUOROCARBON MARKET RESEARCH AND ANALYSIS BY REGION, 2019-2026 ($ MILLION)
4. GLOBAL HYDRO FLUORO OLEFINS MARKET RESEARCH AND ANALYSIS BY REGION, 2019-2026 ($ MILLION)
5. GLOBAL OTHER REFRIGERANTS MARKET RESEARCH AND ANALYSIS BY REGION, 2019-2026 ($ MILLION)
6. GLOBAL COMMERCIAL REFRIGERATOR MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2019-2026 ($ MILLION)
7. GLOBAL FOODSERVICE INDUSTRY MARKET RESEARCH AND ANALYSIS BY REGION, 2019-2026 ($ MILLION)
8. GLOBAL BEVERAGE INDUSTRY MARKET RESEARCH AND ANALYSIS BY REGION, 2019-2026 ($ MILLION)
9. GLOBAL FROZEN FOOD AND ICE CREAM INDUSTRY MARKET RESEARCH AND ANALYSIS BY REGION, 2019-2026 ($ MILLION)
10. GLOBAL RESEARCH, LABORATORY AND PHARMACEUTICAL STORAGE MARKET RESEARCH, AND ANALYSIS BY REGION, 2019-2026 ($ MILLION)
11. GLOBAL COMMERCIAL REFRIGERATOR MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2019-2026 ($ MILLION)
12. NORTH AMERICAN COMMERCIAL REFRIGERATOR MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2019-2026 ($ MILLION)
13. NORTH AMERICAN COMMERCIAL REFRIGERATOR MARKET RESEARCH AND ANALYSIS BY REFRIGERANT TYPE, 2019-2026 ($ MILLION)
14. NORTH AMERICAN COMMERCIAL REFRIGERATOR MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2019-2026 ($ MILLION)
15. EUROPEAN COMMERCIAL REFRIGERATOR MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2019-2026 ($ MILLION)
16. EUROPEAN COMMERCIAL REFRIGERATOR MARKET RESEARCH AND ANALYSIS BY REFRIGERANT TYPE, 2019-2026 ($ MILLION)
17. EUROPEAN COMMERCIAL REFRIGERATOR MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2019-2026 ($ MILLION)
18. ASIA-PACIFIC COMMERCIAL REFRIGERATOR MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2019-2026 ($ MILLION)
19. ASIA-PACIFIC COMMERCIAL REFRIGERATOR MARKET RESEARCH AND ANALYSIS BY REFRIGERANT TYPE, 2019-2026 ($ MILLION)
20. ASIA-PACIFIC COMMERCIAL REFRIGERATOR MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2019-2026 ($ MILLION)
21. REST OF THE WORLD COMMERCIAL REFRIGERATOR MARKET RESEARCH AND ANALYSIS BY REFRIGERANT TYPE, 2019-2026 ($ MILLION)
22. REST OF THE WORLD COMMERCIAL REFRIGERATOR MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2019-2026 ($ MILLION)
1. GLOBAL COMMERCIAL REFRIGERATOR MARKET SHARE BY REFRIGERANT TYPE, 2019 VS 2026 (%)
2. GLOBAL COMMERCIAL REFRIGERATOR MARKET SHARE BY APPLICATION, 2019 VS 2026 (%)
3. GLOBAL COMMERCIAL REFRIGERATOR MARKET SHARE BY GEOGRAPHY, 2019 VS 2026 (%)
4. GLOBAL HYDRO CHLOROFLUOROCARBON REFRIGERATOR MARKET SHARE BY GEOGRAPHY, 2019 VS 2026 (%)
5. GLOBAL HYDRO FLUOROCARBON REFRIGERATOR MARKET SHARE BY GEOGRAPHY, 2019 VS 2026 (%)
6. GLOBAL HYDRO FLUOROOLEFINS REFRIGERATOR MARKET SHARE BY GEOGRAPHY, 2019 VS 2026 (%)
7. GLOBAL OTHER REFRIGERATOR MARKET SHARE BY GEOGRAPHY, 2019 VS 2026 (%)GLOBAL FOODSERVICE INDUSTRY COMMERCIAL REFRIGERATOR MARKET SHARE BY GEOGRAPHY, 2019 VS 2026 (%)
8. GLOBAL BEVERAGE INDUSTRY COMMERCIAL REFRIGERATOR MARKET SHARE BY GEOGRAPHY, 2019 VS 2026 (%)
9. GLOBAL FROZEN FOOD AND ICE CREAM INDUSTRY MARKET SHARE BY GEOGRAPHY, 2019 VS 2026 (%)
10. GLOBAL RESEARCH, LABORATORY AND PHARMACEUTICAL STORAGE MARKET SHARE BY GEOGRAPHY, 2019 VS 2026 (%)
11. US COMMERCIAL REFRIGERATOR MARKET SIZE, 2019-2026 ($ MILLION)
12. CANADA COMMERCIAL REFRIGERATOR MARKET SIZE, 2019-2026 ($ MILLION)
13. UK COMMERCIAL REFRIGERATOR MARKET SIZE, 2019-2026 ($ MILLION)
14. FRANCE COMMERCIAL REFRIGERATOR MARKET SIZE, 2019-2026 ($ MILLION)
15. GERMANY COMMERCIAL REFRIGERATOR MARKET SIZE, 2019-2026 ($ MILLION)
16. ITALY COMMERCIAL REFRIGERATOR MARKET SIZE, 2019-2026 ($ MILLION)
17. SPAIN COMMERCIAL REFRIGERATOR MARKET SIZE, 2019-2026 ($ MILLION)
18. REST OF EUROPE COMMERCIAL REFRIGERATOR MARKET SIZE, 2019-2026 ($ MILLION)
19. INDIA COMMERCIAL REFRIGERATOR MARKET SIZE, 2019-2026 ($ MILLION)
20. CHINA COMMERCIAL REFRIGERATOR MARKET SIZE, 2019-2026 ($ MILLION)
21. JAPAN COMMERCIAL REFRIGERATOR MARKET SIZE, 2019-2026 ($ MILLION)
22. REST OF ASIA-PACIFIC COMMERCIAL REFRIGERATOR MARKET SIZE, 2019-2026 ($ MILLION)
23. REST OF WORLD COMMERCIAL REFRIGERATOR MARKET SIZE, 2019-2026 ($ MILLION)
