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Commercial Refrigeration Market by Product (Deep Freezers, Bottle Coolers, Storage Water Coolers, Commercial Kitchen Refrigeration, Medical Refrigeration, Chest Refrigeration, Others), and End-User (Full Service Restaurant & Hotels, Food Processing Industry, Hospitals, Retail Pharmacies, Supermarket/Hypermarket, Convenience Stores, Quick Service Restaurants and Others): Global Opportunity Analysis and Industry Forecast, 2021–2027

A05036
Pages: 260
Jan 2021 | 8482 Views
 
Author(s) : Raju Kale , Roshan Deshmukh
Tables: 119
Charts: 84
 

COVID-19

Pandemic disrupted the entire world and affected many industries.

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The commercial refrigeration market size was valued at $28.19 billion in 2019, and is projected to reach $35.25 billion by 2027, growing at a CAGR of 4.4% from 2021 to 2027. Asia-Pacific is one of the prominent regions in the market that accounted for approximately two-fifths of the total commercial refrigeration market share in 2019. Commercial Refrigeration is the process which of removing excess heat from a source or a material to maintain the temperature lower than its surrounding. Commercial refrigeration equipment are used for preserving food such as vegetables, fruits, meat, and other similar products by maintaining a specific temperature to increase the shelf life of a product. A large partition of the market for refrigerators is expected to be accounted in the near future due to replacement of existing equipment through energy efficient and sustainable technology equipment. Often some refrigeration equipment are specially designed to rapidly reduce the temperature of food from around 90°C to as low as 30°C, in a short time to eliminate the threat of bacterial growth.  The demand for packaged food is anticipated to increase at a moderate rate globally during the commercial refrigeration market forecast period. This is expected to increase the commercial refrigeration market demand in the near future. In addition, rise in food safety regulations is expected to boost the demand for commercial refrigeration during the analysis period. 

The commercial refrigeration market is driven by increase in demand for frozen & chilled products among the consumers due to change in lifestyle and rapid urbanization. In addition, rapid growth in the organized retail sector, such as increase in number of hypermarkets and supermarkets, further boosts the overall sales of commercial refrigerators; thereby leading to the growth of the market. However, need for frequent maintenance and potential technical issues arising due to lack of proper maintenance act as a major restraint for the market. Conversely, advancements in technology and rise in the number of quick service restaurants especially in the growing economies are expected to provide numerous opportunities for the market growth.

Commercial-Refrigeration-Market-2021-2027

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The report segments the commercial refrigeration market based on product, end-user, and region. Based on product type, the market is divided into deep freezers, bottle coolers, storage water coolers, commercial kitchen refrigeration, medical refrigeration, chest refrigeration, and others. The others subsegment includes ice cubes, bottled water dispenser, visi coolers, refrigerated display cases, and beer dispensers. On the basis of end-user, it is classified into full service restaurant & hotels, food processing industry, hospitals, retail pharmacies, supermarket/hypermarket, convenience stores, quick service restaurants, and others. The others subsegment comprises catering services, institutional catering, event services, bakery, bars and pubs. Based on region, the commercial refrigeration is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Strong global concerns about the pandemic, coronavirus have largely but negatively influenced the global commercial refrigeration market. Moreover, due to the high demand and low supply trends, the prices and demand for baby food products rises in 2020 to overcome on economic instability. On the contrary, disruptions to the supply chain in shipping could lead to temporary shortages in the supply, putting upward pressure on prices in the short term.    

Based on product type, the chest refrigeration segment is expected to maintain its dominance in the global market during the forecast period. However, medical refrigeration is anticipated to gain traction in the near future, owing to increase in demand for commercial refrigeration in hospitals and various other medical facilities, especially in the emerging countries. The commercial refrigeration and medical refrigeration segments collectively accounted for approximately one-fourth of the total global commercial refrigeration market share in 2019.

Commercial Refrigeration Market
By Product

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The Chest Refrigeration segment held the major share of 26.6% in 2019

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Based on end user, the supermarket/hypermarket segment accounted for a maximum share in the global commercial refrigeration market in 2019 and is expected to remain dominant during the forecast period. However, the retail pharmacies segment is expected to experience rapid growth with a CAGR of 6% from 2021 to 2027.

Commercial Refrigeration Market
By End User

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Retail pharmacies segment witness a CAGR of 6% from 2021-2027

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Based on region, the commercial refrigeration market analysis has been carried across North America, Europe, Asia-Pacific, and LAMEA. An increase in demand for commercial refrigeration equipment in Asia-Pacific and LAMEA is expected in the near future, owing to the augment in industrialization and high degree of implementation of automation in this region. Moreover, rise in the number of food outlets coupled with increase in the number of retail pharmacies and experience centers such as supermarket and hypermarkets are expected to provide opportunities for growth for commercial refrigeration market. Asia-Pacific accounted for approximately two-fifths share of the total commercial refrigeration market in 2019 and is expected to remain dominant during the forecast period, with major growth expected in China, India, and the other developing countries. Rise in the number of full service restaurants, quick service restaurants as well as increase in the adoption of frozen food and confections are the major drivers fueling the commercial refrigeration market growth in these countries.

Commercial Refrigeration Market
By Region

2027
Asia-pacific 
North America
Europe
Lamea

The Asia-Pacific region helds the higest market share of 40.0% in 2019

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Players in the commercial refrigeration industry have adopted acquisition as their key strategy to increase their market share and to remain competitive in the market. The leading players in the commercial refrigeration market have also focused on product launch, partnership, and collaboration as a key strategy to gain significant market share globally. The key players profiled in the commercial refrigeration market report include, United Technologies Corporation, Daikin Industries Ltd., Illinois Tool Works Inc. (ITW), Johnson Controls International Plc, Dover Corporation, AB Electrolux, Panasonic Corporation, Ali Group Srl, Frigoglass S.A.I.C., and Haier Electronics Group Co., Ltd. 

Key benefits for stakeholders   

  • The report provides a quantitative analysis of the current commercial refrigeration market trends, estimations, and dynamics of the market size from 2019 to 2027 to identify the prevailing commercial refrigeration market opportunities.
  • The key countries in all the major regions are mapped based on their market share.
  • Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
  • In-depth analysis and the commercial refrigeration market size and segmentation assists in determining the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global industry. 
  • Market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the commercial refrigeration industry. 

Key market segments   

By Product 

  • Deep Freezers
  • Bottle Coolers
  • Storage Water Coolers
  • Commercial Kitchen Refrigeration
  • Medical Refrigeration
  • Chest Refrigeration
  • Others 

End User

  • Full Service Restaurant & Hotels
  • Food Processing Industry
  • Hospitals
  • Retail Pharmacies
  • Supermarket/Hypermarket
  • Convenience Stores
  • Quick Service Restaurants
  • Others

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany 
    • France
    • UK
    • Italy
    • Spain 
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • Australia
    • Rest of Asia-Pacific 
  • LAMEA 
    • Brazil
    • UAE
    • Saudi Arabia
    • Rest of LAMEA 
 

CHAPTER 1:INTRODUCTION

1.1.Report description
1.2.Key benefits for stakeholders
1.3.Key market segments
1.4.Research methodology

1.4.1.Primary research
1.4.2.Secondary research
1.4.3.Analyst tools and models

CHAPTER 2:EXECUTIVE SUMMARY

2.1.Key findings

2.1.1.Top impacting factors
2.1.2.Top investment pockets

2.2.CXO perspective

CHAPTER 3:MARKET OVERVIEW

3.1.Market definition and scope
3.2.Parent market overview, 2019
3.3.Key forces shaping commercial refrigeration industry/market
3.4.Pricing analysis

3.4.1.Pricing analysis of product of commercial refrigeration, 2019

3.5.Commercial refrigeration market: value chain analysis
3.6.Market dynamics

3.6.1.Drivers

3.6.1.1.Surge in adoption of refrigerated and frozen food & confectioneries
3.6.1.2.Rise in number of fast food outlets and experience centers

3.6.2.Restraint

3.6.2.1.Increase in concerns related to maintenance

3.6.3.Opportunities

3.6.3.1.Business expansion in emerging regions
3.6.3.2.Technological advancement in refrigeration appliances

3.7.COVID-19 impact on commercial refrigeration market

3.7.1.Introduction
3.7.2.Impact on commercial refrigeration market

CHAPTER 4:COMMERCIAL REFRIGERATION MARKET, BY PRODUCT

4.1.Overview
4.2.Deep freezers

4.2.1.Key market trends, growth factors, and opportunities
4.2.2.Market size and forecast, by region
4.2.3.Market analysis, by country

4.3.Bottle coolers

4.3.1.Key market trends, growth factors, and opportunities
4.3.2.Market size and forecast, by region
4.3.3.Market analysis, by country

4.4.Storage water coolers

4.4.1.Key market trends, growth factors, and opportunities
4.4.2.Market size and forecast, by region
4.4.3.Market analysis, by country

4.5.Commercial kitchen refrigeration

4.5.1.Key market trends, growth factors, and opportunities
4.5.2.Market size and forecast, by region
4.5.3.Market analysis, by country

4.6.Medical refrigerator

4.6.1.Key market trends, growth factors, and opportunities
4.6.2.Market size and forecast, by region
4.6.3.Market analysis, by country

4.7.Chest refrigerator

4.7.1.Key market trends, growth factors, and opportunities
4.7.2.Market size and forecast, by region
4.7.3.Market analysis, by country

4.8.Others

4.8.1.Key market trends, growth factors, and opportunities
4.8.2.Market size and forecast, by region
4.8.3.Market analysis, by country

CHAPTER 5:COMMERCIAL REFRIGERATION MARKET, BY END USER

5.1.Overview
5.2.Full service restaurant & hotels

5.2.1.Key market trends, growth factors, and opportunities
5.2.2.Market size and forecast, by region
5.2.3.Market analysis, by country

5.3.Food processing industry

5.3.1.Key market trends, growth factors, and opportunities
5.3.2.Market size and forecast, by region
5.3.3.Market analysis, by country

5.4.Hospitals

5.4.1.Key market trends, growth factors, and opportunities
5.4.2.Market size and forecast, by region
5.4.3.Market analysis, by country

5.5.Retail pharmacies

5.5.1.Key market trends, growth factors, and opportunities
5.5.2.Market size and forecast, by region
5.5.3.Market analysis, by country

5.6.Supermarket/hypermarket

5.6.1.Key market trends, growth factors, and opportunities
5.6.2.Market size and forecast, by region
5.6.3.Market analysis, by country

5.7.Convenience stores

5.7.1.Key market trends, growth factors, and opportunities
5.7.2.Market size and forecast, by region
5.7.3.Market analysis, by country

5.8.Quick service restaurants

5.8.1.Key market trends, growth factors, and opportunities
5.8.2.Market size and forecast, by region
5.8.3.Market analysis, by country

5.9.Others

5.9.1.Key market trends, growth factors, and opportunities
5.9.2.Market size and forecast, by region
5.9.3.Market analysis, by country

CHAPTER 6:COMMERCIAL REFRIGERATION MARKET, BY REGION

6.1.Overview
6.2.North America

6.2.1.Key market trends, growth factors, and opportunities
6.2.2.Market size and forecast, by product
6.2.3.Market size and forecast, by end user
6.2.4.Market analysis, by country.
6.2.5.U.S.

6.2.5.1.Market size and forecast, by product
6.2.5.2.Market size and forecast, by end user

6.2.6.Canada

6.2.6.1.Market size and forecast, by product
6.2.6.2.Market size and forecast, by end user

6.2.7.Mexico

6.2.7.1.Market size and forecast, by product
6.2.7.2.Market size and forecast, by end user

6.3.Europe

6.3.1.Key market trends, growth factors, and opportunities
6.3.2.Market size and forecast, by product
6.3.3.Market size and forecast, by end user
6.3.4.Market analysis, by country.
6.3.5.Germany

6.3.5.1.Market size and forecast, by product
6.3.5.2.Market size and forecast, by end user

6.3.6.France

6.3.6.1.Market size and forecast, by product
6.3.6.2.Market size and forecast, by end user

6.3.7.UK

6.3.7.1.Market size and forecast, by product
6.3.7.2.Market size and forecast, by end user

6.3.8.Italy

6.3.8.1.Market size and forecast, by product
6.3.8.2.Market size and forecast, by end user

6.3.9.Spain

6.3.9.1.Market size and forecast, by product
6.3.9.2.Market size and forecast, by end user

6.3.10.Rest of Europe

6.3.10.1.Market size and forecast, by product
6.3.10.2.Market size and forecast, by end user

6.4.Asia-Pacific

6.4.1.Key market trends, growth factors, and opportunities
6.4.2.Market size and forecast, by product
6.4.3.Market size and forecast, by end user
6.4.4.Market analysis, by country.
6.4.5.China

6.4.5.1.Market size and forecast, by product
6.4.5.2.Market size and forecast, by end user

6.4.6.India

6.4.6.1.Market size and forecast, by product
6.4.6.2.Market size and forecast, by end user

6.4.7.Japan

6.4.7.1.Market size and forecast, by product
6.4.7.2.Market size and forecast, by end user

6.4.8.Australia

6.4.8.1.Market size and forecast, by product
6.4.8.2.Market size and forecast, by end user

6.4.9.Rest of Asia-Pacific

6.4.9.1.Market size and forecast, by product
6.4.9.2.Market size and forecast, by end user

6.5.LAMEA

6.5.1.Key market trends, growth factors, and opportunities
6.5.2.Market size and forecast, by product
6.5.3.Market size and forecast, by end user
6.5.4.Market analysis, by country.
6.5.5.Brazil

6.5.5.1.Market size and forecast, by product
6.5.5.2.Market size and forecast, by end user

6.5.6.UAE

6.5.6.1.Market size and forecast, by product
6.5.6.2.Market size and forecast, by end user

6.5.7.Saudi Arabia

6.5.7.1.Market size and forecast, by product
6.5.7.2.Market size and forecast, by end user

6.5.8.Rest of LAMEA

6.5.8.1.Market size and forecast, by product
6.5.8.2.Market size and forecast, by end user

CHAPTER 7:COMPETITION LANDSCAPE

7.1.Top winning strategies
7.2.Product mapping
7.3.Competitive dashboard
7.4.Competitive heat map
7.5.Key developments

7.5.1.Acquisition
7.5.2.Business expansion
7.5.3.Partnership
7.5.4.Product launch

CHAPTER 8:COMPANY PROFILES

8.1.AB ELECTROLUX

8.1.1.Company overview
8.1.2.Key executives
8.1.3.Company snapshot
8.1.4.Product portfolio
8.1.5.R&D expenditure
8.1.6.Business performance
8.1.7.Key strategic moves and developments

8.2.ALI GROUP S.R.L.

8.2.1.Company overview
8.2.2.Key executives
8.2.3.Company snapshot
8.2.4.Product portfolio

8.3.DAIKIN INDUSTRIES LTD.

8.3.1.Company overview
8.3.2.Key executives
8.3.3.Company snapshot
8.3.4.Operating business segments
8.3.5.Product portfolio
8.3.6.R&D expenditure
8.3.7.Business performance
8.3.8.Key strategic moves and developments

8.4.DOVER CORPORATION

8.4.1.Company overview
8.4.2.Key executives
8.4.3.Company snapshot
8.4.4.Operating business segments
8.4.5.Product portfolio
8.4.6.R&D expenditure
8.4.7.Business performance
8.4.8.Key strategic moves and developments

8.5.FRIGOGLASS S.A.I.C.

8.5.1.Company overview
8.5.2.Key executives
8.5.3.Company snapshot
8.5.4.Operating business segments
8.5.5.Product portfolio
8.5.6.Business performance
8.5.7.Key strategic moves and developments

8.6.HAIER ELECTRONICS GROUP CO., LTD.

8.6.1.Company overview
8.6.2.Key executives
8.6.3.Company snapshot
8.6.4.Operating business segments
8.6.5.Product portfolio
8.6.6.R&D expenditure
8.6.7.Business performance
8.6.8.Key strategic moves and developments

8.7.ILLINOIS TOOL WORKS INC.

8.7.1.Company overview
8.7.2.Key executives
8.7.3.Company snapshot
8.7.4.Operating business segments
8.7.5.Product portfolio
8.7.6.R&D expenditure
8.7.7.Business performance
8.7.8.Key strategic moves and developments

8.8.JOHNSON CONTROLS INTERNATIONAL PLC

8.8.1.Company overview
8.8.2.Key executives
8.8.3.Company snapshot
8.8.4.Product portfolio
8.8.5.Business performance
8.8.6.Key strategic moves and developments

8.9.PANASONIC CORPORATION

8.9.1.Company overview
8.9.2.Key executives
8.9.3.Company snapshot
8.9.4.Operating business segments
8.9.5.Product portfolio
8.9.6.R&D expenditure
8.9.7.Business performance
8.9.8.Key strategic moves and developments

8.10.UNITED TECHNOLOGIES CORPORATION

8.10.1.Company overview
8.10.2.Key executives
8.10.3.Company snapshot
8.10.4.Operating business segments
8.10.5.Product portfolio
8.10.6.R&D expenditure
8.10.7.Business performance
8.10.8.Key strategic moves and developments

LIST OF FIGURE

TABLE 01.COMMERCIAL REFRIGERATION MARKET, BY PRODUCT, 2019–2027 ($MILLION)
TABLE 02.DEEP FREEZERS MARKET, BY REGION, 2019–2027 ($MILLION)
TABLE 03.BOTTLE COOLERS MARKET, BY REGION, 2019–2027 ($MILLION)
TABLE 04.STORAGE WATER COOLERS MARKET, BY REGION, 2019–2027 ($MILLION)
TABLE 05.COMMERCIAL REFRIGERATION MARKET REVENUE, BY REGION, 2019–2027 ($MILLION)
TABLE 06.MEDICAL REFRIGERATOR MARKET, BY REGION, 2019–2027 ($MILLION)
TABLE 07.CHEST REFRIGERATOR MARKET, BY REGION, 2019–2027 ($MILLION)
TABLE 08.OTHER COMMERCIAL REFRIGERATION MARKET, BY REGION, 2019–2027 ($MILLION)
TABLE 09.COMMERCIAL REFRIGERATION MARKET REVENUE, BY END USER, 2019-2027 ($MILLION)
TABLE 10.COMMERCIAL REFRIGERATION MARKET REVENUE FOR FULL SERVICE RESTAURANT & HOTELS, BY REGION,  2019–2027 ($MILLION)
TABLE 11.COMMERCIAL REFRIGERATION MARKET REVENUE FOR FOOD PROCESSING INDUSTRY, BY REGION, 2019–2027 ($MILLION)
TABLE 12.COMMERCIAL REFRIGERATION MARKET REVENUE FOR HOSPITALS, BY REGION, 2019–2027 ($MILLION)
TABLE 13.COMMERCIAL REFRIGERATION MARKET REVENUE FOR RETAIL PHARMACIES, BY REGION, 2019–2027 ($MILLION)
TABLE 14.COMMERCIAL REFRIGERATION MARKET REVENUE FOR SUPERMARKET/HYPERMARKET, BY REGION, 2019–2027 ($MILLION)
TABLE 15.COMMERCIAL REFRIGERATION MARKET REVENUE FOR CONVENIENCE STORES, BY REGION, 2019–2027 ($MILLION)
TABLE 16.COMMERCIAL REFRIGERATION MARKET REVENUE FOR QUICK SERVICE RESTAURANTS, BY REGION, 2019–2027 ($MILLION)
TABLE 17.COMMERCIAL REFRIGERATION MARKET REVENUE FOR OTHERS, BY REGION, 2019–2027 ($MILLION)
TABLE 18.COMMERCIAL REFRIGERATION MARKET REVENUE, BY REGION, 2019–2027 ($MILLION)
TABLE 19.NORTH AMERICA COMMERCIAL REFRIGERATION MARKET REVENUE, BY PRODUCT, 2019–2027 ($MILLION)
TABLE 20.NORTH AMERICA COMMERCIAL REFRIGERATION MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 21.NORTH AMERICA COMMERCIAL REFRIGERATION MARKET REVENUE, BY COUNTRY, 2019–2027 ($MILLION)
TABLE 22.U.S. COMMERCIAL REFRIGERATION MARKET REVENUE, BY PRODUCT, 2019–2027 ($MILLION)
TABLE 23.U.S. COMMERCIAL REFRIGERATION MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 24.CANADA COMMERCIAL REFRIGERATION MARKET REVENUE, BY PRODUCT, 2019–2027 ($MILLION)
TABLE 25.CANADA COMMERCIAL REFRIGERATION MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 26.MEXICO COMMERCIAL REFRIGERATION MARKET REVENUE, BY PRODUCT, 2019–2027 ($MILLION)
TABLE 27.MEXICO COMMERCIAL REFRIGERATION MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 28.EUROPE COMMERCIAL REFRIGERATION MARKET REVENUE, BY PRODUCT, 2019–2027 ($MILLION)
TABLE 29.EUROPE COMMERCIAL REFRIGERATION MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 30.EUROPE COMMERCIAL REFRIGERATION MARKET REVENUE, BY COUNTRY, 2019–2027 ($MILLION)
TABLE 31.GERMANY COMMERCIAL REFRIGERATION MARKET REVENUE, BY PRODUCT, 2019–2027 ($MILLION)
TABLE 32.GERMANY COMMERCIAL REFRIGERATION MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 33.FRANCE COMMERCIAL REFRIGERATION MARKET REVENUE, BY PRODUCT, 2019–2027 ($MILLION)
TABLE 34.FRANCE COMMERCIAL REFRIGERATION MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 35.UK COMMERCIAL REFRIGERATION MARKET REVENUE, BY PRODUCT, 2019–2027 ($MILLION)
TABLE 36.UK COMMERCIAL REFRIGERATION MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 37.ITALY COMMERCIAL REFRIGERATION MARKET REVENUE, BY PRODUCT, 2019–2027 ($MILLION)
TABLE 38.ITALY COMMERCIAL REFRIGERATION MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 39.SPAIN COMMERCIAL REFRIGERATION MARKET REVENUE, BY PRODUCT, 2019–2027 ($MILLION)
TABLE 40.SPAIN COMMERCIAL REFRIGERATION MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 41.REST OF EUROPE COMMERCIAL REFRIGERATION MARKET REVENUE, BY PRODUCT, 2019–2027 ($MILLION)
TABLE 42.REST OF EUROPE COMMERCIAL REFRIGERATION MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 43.ASIA-PACIFIC COMMERCIAL REFRIGERATION MARKET REVENUE, BY PRODUCT, 2019–2027 ($MILLION)
TABLE 44.ASIA-PACIFIC COMMERCIAL REFRIGERATION MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 45.ASIA-PACIFIC COMMERCIAL REFRIGERATION MARKET REVENUE, BY COUNTRY, 2019–2027 ($MILLION)
TABLE 46.CHINA COMMERCIAL REFRIGERATION MARKET REVENUE, BY PRODUCT, 2019–2027 ($MILLION)
TABLE 47.CHINA COMMERCIAL REFRIGERATION MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 48.INDIA COMMERCIAL REFRIGERATION MARKET REVENUE, BY PRODUCT, 2019–2027 ($MILLION)
TABLE 49.INDIA COMMERCIAL REFRIGERATION MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 50.JAPAN COMMERCIAL REFRIGERATION MARKET REVENUE, BY PRODUCT, 2019–2027 ($MILLION)
TABLE 51.JAPAN COMMERCIAL REFRIGERATION MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 52.AUSTRALIA COMMERCIAL REFRIGERATION MARKET REVENUE, BY PRODUCT, 2019–2027 ($MILLION)
TABLE 53.AUSTRALIA COMMERCIAL REFRIGERATION MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 54.REST OF ASIA-PACIFIC COMMERCIAL REFRIGERATION MARKET REVENUE, BY PRODUCT, 2019–2027 ($MILLION)
TABLE 55.REST OF ASIA-PACIFIC COMMERCIAL REFRIGERATION MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 56.LAMEA COMMERCIAL REFRIGERATION MARKET REVENUE, BY PRODUCT, 2019–2027 ($MILLION)
TABLE 57.LAMEA COMMERCIAL REFRIGERATION MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 58.LAMEA COMMERCIAL REFRIGERATION MARKET REVENUE, BY COUNTRY, 2019–2027 ($MILLION)
TABLE 59.BRAZIL COMMERCIAL REFRIGERATION MARKET REVENUE, BY PRODUCT, 2019–2027 ($MILLION)
TABLE 60.BRAZIL COMMERCIAL REFRIGERATION MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 61.UAE COMMERCIAL REFRIGERATION MARKET REVENUE, BY PRODUCT, 2019–2027 ($MILLION)
TABLE 62.UAE COMMERCIAL REFRIGERATION MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 63.SAUDI ARABIA COMMERCIAL REFRIGERATION MARKET REVENUE, BY PRODUCT, 2019–2027 ($MILLION)
TABLE 64.SAUDI ARABIA COMMERCIAL REFRIGERATION MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 65.REST OF LAMEA COMMERCIAL REFRIGERATION MARKET REVENUE, BY PRODUCT, 2019–2027 ($MILLION)
TABLE 66.REST OF LAMEA COMMERCIAL REFRIGERATION MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 67.AB ELECTROLUX: KEY EXECUTIVES
TABLE 68.AB ELECTROLUX: COMPANY SNAPSHOT
TABLE 69.AB ELECTROLUX: PRODUCT PORTFOLIO
TABLE 70.AB ELECTROLUX: R&D EXPENDITURE, 2017–2019 ($MILLION)
TABLE 71.AB ELECTROLUX: NET SALES, 2017–2019 ($MILLION)
TABLE 72.ALI GROUP S.R.L: KEY EXECUTIVES
TABLE 73.ALI GROUP S.R.L.: COMPANY SNAPSHOT
TABLE 74.ALI GROUP S.R.L.: PRODUCT PORTFOLIO
TABLE 75.DAIKIN INDUSTRIES LTD: KEY EXECUTIVES
TABLE 76.DAIKIN INDUSTRIES LTD.: COMPANY SNAPSHOT
TABLE 77.DAIKIN INDUSTRIES LTD.: OPERATING SEGMENTS
TABLE 78.DAIKIN INDUSTRIES LTD.: PRODUCT PORTFOLIO
TABLE 79.DAIKIN INDUSTRIES LTD: R&D EXPENDITURE, 2018–2020 ($MILLION)
TABLE 80.DAIKIN INDUSTRIES LTD: NET SALES, 2018–2020 ($MILLION)
TABLE 81.DOVER CORPORATION: KEY EXECUTIVES
TABLE 82.DOVER CORPORATION: COMPANY SNAPSHOT
TABLE 83.DOVER CORPORATION: OPERATING SEGMENTS
TABLE 84.DOVER CORPORATION: PRODUCT PORTFOLIO
TABLE 85.DOVER CORPORATION: R&D EXPENDITURE, 2017–2019 ($MILLION)
TABLE 86.DOVER CORPORATION: NET SALES, 2017–2019 ($MILLION)
TABLE 87.FRIGOGLASS S.A.I.C: KEY EXECUTIVES
TABLE 88.FRIGOGLASS S.A.I.C.: COMPANY SNAPSHOT
TABLE 89.FRIGOGLASS S.A.I.C.: OPERATING SEGMENTS
TABLE 90.FRIGOGLASS S.A.I.C.: PRODUCT PORTFOLIO
TABLE 91.FRIGOGLASS S.A.I.C: NET SALES, 2017–2019 ($MILLION)
TABLE 92.HAIER ELECTRONICS GROUP CO., LTD: KEY EXECUTIVES
TABLE 93.HAIER ELECTRONICS GROUP CO., LTD.: COMPANY SNAPSHOT
TABLE 94.HAIER ELECTRONICS GROUP CO., LTD: OPERATING SEGMENTS
TABLE 95.HAIER ELECTRONICS GROUP CO., LTD: PRODUCT PORTFOLIO
TABLE 96.HAIER ELECTRONICS GROUP CO., LTD: R&D EXPENDITURE, 2017–2019 ($MILLION)
TABLE 97.HAIER ELECTRONICS GROUP CO., LTD: NET SALES, 2017–2019 ($MILLION)
TABLE 98.ILLINOIS TOOL WORKS INC: KEY EXECUTIVES
TABLE 99.ILLINOIS TOOL WORKS INC.: COMPANY SNAPSHOT
TABLE 100.ILLINOIS TOOL WORKS INC.: OPERATING SEGMENTS
TABLE 101.ILLINOIS TOOL WORKS INC.: PRODUCT PORTFOLIO
TABLE 102.ILLINOIS TOOL WORKS INC: R&D EXPENDITURE, 2017–2019 ($MILLION)
TABLE 103.ILLINOIS TOOL WORKS INC: NET SALES, 2017–2019 ($MILLION)
TABLE 104.JOHNSON CONTROLS INTERNATIONAL PLC: KEY EXECUTIVES
TABLE 105.JOHNSON CONTROLS INTERNATIONAL PLC: COMPANY SNAPSHOT
TABLE 106.JOHNSON CONTROLS INTERNATIONAL PLC.: PRODUCT PORTFOLIO
TABLE 107.JOHNSON CONTROLS INTERNATIONAL PLC.: NET SALES, 2018–2020 ($MILLION)
TABLE 108.PANASONIC CORPORATION: KEY EXECUTIVES
TABLE 109.PANASONIC CORPORATION: COMPANY SNAPSHOT
TABLE 110.PANASONIC CORPORATION: OPERATING SEGMENTS
TABLE 111.PANASONIC CORPORATION: PRODUCT PORTFOLIO
TABLE 112.PANASONIC CORPORATION: R&D EXPENDITURE, 2018–2020 ($MILLION)
TABLE 113.PANASONIC CORPORATION: NET SALES, 2018–2020 ($MILLION)
TABLE 114.UNITED TECHNOLOGIES CORPORATION: KEY EXECUTIVES
TABLE 115.UNITED TECHNOLOGIES CORPORATION: COMPANY SNAPSHOT
TABLE 116.UNITED TECHNOLOGIES CORPORATION: OPERATING SEGMENTS
TABLE 117.UNITED TECHNOLOGIES CORPORATION: PRODUCT PORTFOLIO
TABLE 118.UNITED TECHNOLOGIES CORPORATION: R&D EXPENDITURE, 2017–2019 ($MILLION)
TABLE 119.UNITED TECHNOLOGIES CORPORATION: NET SALES, 2017–2019 ($MILLION)

LIST OF FIGURE

FIGURE 01.KEY MARKET SEGMENTS
FIGURE 02.GLOBAL COMMERCIAL REFRIGERATION MARKET SNAPSHOT, 2021–2027
FIGURE 03.TOP IMPACTING FACTORS
FIGURE 04.TOP INVESTMENT POCKETS
FIGURE 05.MODERATE BARGAINING POWER OF SUPPLIERS
FIGURE 06.MODERATE-TO-HIGH BARGAINING POWER OF BUYERS
FIGURE 07.MODERATE THREAT OF NEW ENTRANTS
FIGURE 08.HIGH THREAT OF SUBSTITUTES
FIGURE 09.HIGH-TO-MODERATE INTENSITY OF COMPETITIVE RIVALRY
FIGURE 10.COMMERCIAL REFRIGERATION MARKET: VALUE CHAIN ANALYSIS
FIGURE 11.COMMERCIAL REFRIGERATION MARKET, BY PRODUCT, 2019–2027
FIGURE 12.DEEP FREEZERS MARKET, BY COUNTRY, 2019 & 2027 (%)
FIGURE 13.BOTTLE COOLERS MARKET, BY COUNTRY, 2019 & 2027 (%)
FIGURE 14.STORAGE WATER COOLERS MARKET, BY COUNTRY, 2019 & 2027 (%)
FIGURE 15.COMMERCIAL KITCHEN REFRIGERATOR MARKET, BY COUNTRY, 2019 & 2027 (%)
FIGURE 16.MEDICAL REFRIGERATOR MARKET, BY COUNTRY, 2019 & 2027 (%)
FIGURE 17.CHEST REFRIGERATOR MARKET, BY COUNTRY, 2019 & 2027 (%)
FIGURE 18.OTHER COMMERCIAL REFRIGERATION MARKET, BY COUNTRY, 2019 & 2027 (%)
FIGURE 19.COMMERCIAL REFRIGERATION MARKET, BY END USER, 2019-2027
FIGURE 20.COMMERCIAL REFRIGERATION MARKET REVENUE FOR FULL SERVICE RESTAURANT & HOTELS, BY COUNTRY,  2019 & 2027 (%)
FIGURE 21.COMMERCIAL REFRIGERATION MARKET REVENUE FOR FOOD PROCESSING INDUSTRY, BY COUNTRY, 2019 & 2027 (%)
FIGURE 22.COMMERCIAL REFRIGERATION MARKET REVENUE FOR HOSPITALS, BY COUNTRY, 2019 & 2027 (%)
FIGURE 23.COMMERCIAL REFRIGERATION MARKET REVENUE FOR RETAIL PHARMACIES, BY COUNTRY, 2019 & 2027 (%)
FIGURE 24.COMMERCIAL REFRIGERATION MARKET REVENUE FOR SUPERMARKET/HYPERMARKET, BY COUNTRY, 2019 & 2027 (%)
FIGURE 25.COMMERCIAL REFRIGERATION MARKET REVENUE FOR CONVENIENCE STORES, BY COUNTRY, 2019 & 2027 (%)
FIGURE 26.COMMERCIAL REFRIGERATION MARKET REVENUE FOR QUICK SERVICE RESTAURANTS, BY COUNTRY, 2019 & 2027 (%)
FIGURE 27.COMMERCIAL REFRIGERATION MARKET REVENUE FOR OTHERS, BY COUNTRY, 2019 & 2027 (%)
FIGURE 28.COMMERCIAL REFRIGERATION MARKET, BY REGION, 2019-2027
FIGURE 29.U.S. COMMERCIAL REFRIGERATION MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 30.CANADA COMMERCIAL REFRIGERATION MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 31.MEXICO COMMERCIAL REFRIGERATION MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 32.GERMANY COMMERCIAL REFRIGERATION MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 33.FRANCE COMMERCIAL REFRIGERATION MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 34.UK COMMERCIAL REFRIGERATION MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 35.ITALY COMMERCIAL REFRIGERATION MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 36.SPAIN COMMERCIAL REFRIGERATION MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 37.REST OF EUROPE COMMERCIAL REFRIGERATION MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 38.CHINA COMMERCIAL REFRIGERATION MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 39.INDIA COMMERCIAL REFRIGERATION MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 40.JAPAN COMMERCIAL REFRIGERATION MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 41.AUSTRALIA COMMERCIAL REFRIGERATION MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 42.REST OF ASIA-PACIFIC COMMERCIAL REFRIGERATION MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 43.BRAZIL COMMERCIAL REFRIGERATION MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 44.UAE COMMERCIAL REFRIGERATION MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 45.SAUDI ARABIA COMMERCIAL REFRIGERATION MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 46.REST OF LAMEA COMMERCIAL REFRIGERATION MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 47.TOP WINNING STRATEGIES, BY YEAR, 2017–2020*
FIGURE 48.TOP WINNING STRATEGIES, BY DEVELOPMENT, 2017–2020* (%)
FIGURE 49.TOP WINNING STRATEGIES, BY COMPANY, 2017–2020*
FIGURE 50.PRODUCT MAPPING OF TOP 10 KEY PLAYERS
FIGURE 51.COMPETITIVE DASHBOARD OF TOP 10 KEY PLAYERS
FIGURE 52.COMPETITIVE HEATMAP OF TOP 10 KEY PLAYERS
FIGURE 53.AB ELECTROLUX: R&D EXPENDITURE, 2017–2019 ($MILLION)
FIGURE 54.AB ELECTROLUX: NET SALES, 2017–2019($MILLION)
FIGURE 55.AB ELECTROLUX: REVENUE SHARE BY SEGMENT, 2019 (%)
FIGURE 56.AB ELECTROLUX: REVENUE SHARE BY REGION, 2019 (%)
FIGURE 57.DAIKIN INDUSTRIES LTD: R&D EXPENDITURE, 2018–2020 ($MILLION)
FIGURE 58.DAIKIN INDUSTRIES LTD.: NET SALES, 2018–2020 ($MILLION)
FIGURE 59.DAIKIN INDUSTRIES LTD.: REVENUE SHARE BY SEGMENT, 2020 (%)
FIGURE 60.DAIKIN INDUSTRIES LTD.: REVENUE SHARE BY REGION, 2020 (%)
FIGURE 61.DOVER CORPORATION: R&D EXPENDITURE, 2017–2019 ($MILLION)
FIGURE 62.DOVER CORPORATION: NET SALES, 2017–2019 ($MILLION)
FIGURE 63.DOVER CORPORATION: REVENUE SHARE BY SEGMENT, 2019 (%)
FIGURE 64.DOVER CORPORATION: REVENUE SHARE BY REGION, 2019 (%)
FIGURE 65.FRIGOGLASS S.A.I.C.: NET SALES, 2017–2019 ($MILLION)
FIGURE 66.FRIGOGLASS S.A.I.C.: REVENUE SHARE BY SEGMENT, 2019 (%)
FIGURE 67.FRIGOGLASS S.A.I.C.: REVENUE SHARE BY REGION, 2019 (%)
FIGURE 68.HAIER ELECTRONICS GROUP CO., LTD: R&D EXPENDITURE, 2017–2019 ($MILLION)
FIGURE 69.HAIER ELECTRONICS GROUP CO., LTD: NET SALES, 2017–2019 ($MILLION)
FIGURE 70.HAIER ELECTRONICS GROUP CO., LTD: REVENUE SHARE BY SEGMENT, 2019 (%)
FIGURE 71.HAIER ELECTRONICS GROUP CO., LTD: REVENUE SHARE BY REGION, 2019 (%)
FIGURE 72.ILLINOIS TOOL WORKS INC: R&D EXPENDITURE, 2017–2019 ($MILLION)
FIGURE 73.ILLINOIS TOOL WORKS INC.: NET SALES, 2017–2019 ($MILLION)
FIGURE 74.ILLINOIS TOOL WORKS INC.: REVENUE SHARE BY SEGMENT, 2019 (%)
FIGURE 75.ILLINOIS TOOL WORKS INC.: REVENUE SHARE BY REGION, 2019 (%)
FIGURE 76.JOHNSON CONTROLS INTERNATIONAL PLC.: NET SALES, 2018–2020 ($MILLION)
FIGURE 77.R&D EXPENDITURE, 2018–2020 ($MILLION)
FIGURE 78.PANASONIC CORPORATION: NET SALES, 2018–2020 ($MILLION)
FIGURE 79.PANASONIC CORPORATION: REVENUE SHARE BY SEGMENT, 2020 (%)
FIGURE 80.PANASONIC CORPORATION: REVENUE SHARE BY REGION, 2020 (%)
FIGURE 81.UNITED TECHNOLOGIES CORPORATION: R&D EXPENDITURE, 2017–2019 ($MILLION)
FIGURE 82.UNITED TECHNOLOGIES CORPORATION: NET SALES, 2017–2019 ($MILLION)
FIGURE 83.UNITED TECHNOLOGIES CORPORATION: REVENUE SHARE BY SEGMENT, 2019 (%)
FIGURE 84.UNITED TECHNOLOGIES CORPORATION: REVENUE SHARE BY REGION, 2019 (%)

 
 

Based on the interviews of various top-level CXOs, the global commercial refrigeration market is witnessing moderate growth rate, due to rise in demand for frozen products among consumers. Rapid development of the organized retail sector, such as increase in number of hypermarkets and supermarkets, further boosts the overall sales of commercial refrigerators.

Asia-Pacific is anticipated to garner maximum share in the global commercial refrigeration market, owing to rise in number of full service restaurants & quick service restaurants as well as shift in preference toward frozen food & confectioneries.

However, need for frequent maintenance and potential technical issues arising due to lack of proper maintenance limit the adoption of commercial refrigerators, thereby hampering the growth of the market, globally.

 
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A. The global commercial refrigeration market was valued at $28,197.1 million in 2019, and is projected to reach $35,258.5 million by 2027, registering a CAGR of 4.4% from 2021 to 2027.

A. The CAGR of Commercial Refrigeration Market is 4.4%.

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A. United Technologies Corporation, Daikin Industries Ltd., Illinois Tool Works Inc. (ITW), Johnson Controls International Plc, Dover Corporation, AB Electrolux, Panasonic Corporation, Ali Group S.r.l., Frigoglass S.A.I.C., and Haier Electronics Group Co., Ltd are the top Companies in the market.

A. Product and End user are the two segment of the commercial refrigeration market.

A. Surge in adoption of refrigerated and frozen food & confectioneries and rise in number of fast food outlets and experience centers are the major trends which will shape the market in the future.

A. Asia-Pacific region holds the maximum market share of the Global Commercial Refrigeration market.

A. Increase in concerns related to maintenance is the major effecting factor of the market.

A. The COVID-19 pandemic has negatively impact the Commercial Refrigeration market in 2020.

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