| A12711 | Pages: 189 | Aug 2021 | 3540 Views | ||
| Author(s) : Vidit Gite , Roshan Deshmukh | Tables: 100 | Charts: 45 |
| |
Pandemic disrupted the entire world and affected many industries.
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Request Now !Europe commercial refrigeration market size was valued at $7,700.7 million in 2019, and is projected to reach $9,921.0 million by 2028, growing at a CAGR of 4.3% from 2021 to 2028. UK is one of the prominent markets for commercial refrigeration in Europe, which accounted for 18.1% of total Europe commercial refrigeration market share in 2020.
Commercial refrigeration is the process of eliminating excess heat from a source or a material to maintain the temperature lower than its surrounding. Commercial refrigeration equipment is used for preserving food such as vegetables, dairy products, bakery items, fruits, meat, and other similar products by maintaining a specific temperature to increase the shelf life and stability of a product.
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For the purpose of Europe commercial refrigeration market analysis, the market is segmented into product, end user, and country. It provides information about various commercial refrigeration products such as deep freezers, bottle coolers, storage water coolers, commercial kitchen refrigerator, medical refrigerator, chest refrigeration, beer dispenser, & others to deliver Europe commercial refrigeration market size. In addition, the study outlines the details about end users such as full-service restaurant & hotels, food processing industry, hospitals, retail pharmacies, supermarket/hypermarket, convenience stores, quick service restaurants, and others. The manufacturers designing refrigerated chambers and customized cold rooms for delivery vehicles and storage of food products are also considered in this report. Furthermore, it summarizes the data about the revenue generated by commercial refrigerators across Europe.
Rise in number of quick service restaurants (QSR) and fast-food centers are few of the major growth pillar of the Europe commercial refrigeration industry. According to the report published by Rlist and Irish Food Board 2021, there are 900 KFC franchises, 1,247 McDonald’s outlets, and 2,380 Subway outlets operating in the UK in the year 2021 and the numbers are expected to increase over the coming years.
McDonalds holds a major share in the field of fast-food market. These food giants are increasingly adopting and installing refrigeration systems for food preservation and cold storage. Thus, the increase in number of QSR and fast-food centers in Europe is anticipated to support the Europe commercial refrigeration market trends which augment the Europe commercial refrigeration market opportunities over the coming years.
The Europe commercial refrigeration market is segmented into product, end user, and country. The report covers the study based on product, which includes deep freezers, bottle coolers, storage water coolers, commercial kitchen refrigerator, medical refrigerator, chest refrigerator, and others. Depending on end user, the market is classified into full-service restaurant & hotels, food processing industry, hospitals, retail pharmacies, supermarket/hypermarket, convenience stores, quick service restaurants, and others. Country wise, the market is analyzed across Germany, France, UK, Italy, Spain, Netherlands, Poland, Russia, Denmark, and Rest of Europe.
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On the basis of product, chest refrigerator led in terms of market share in 2020, owing to its rapid temperature control and availability. However, bottle coolers and commercial kitchen refrigerator segments are poised to grow with highest CAGR during the forecast period. Europe commercial refrigeration market growth for these segments is driven by their high applicability in different industrial sectors such as fast food, hospitality, and travel & tourism industries.
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By end user, the Supermarket/Hypermarket segment garnered the major share in the market in 2020, and is poised to grow with highest CAGR during the forecast period. The penetration of supermarket has increased in the past few years in both the mature and emerging markets, as it serves as a one-stop solution. Rise in trend of luxury dining and tourism drives the market growth of the full-service restaurants and hotels worldwide. Hospitals and quick services restaurants are expected to grow at a decent pace over the Europe commercial refrigeration market forecast period.
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The report focuses on the market growth prospects, restraints, and opportunities during the forecast period. The study provides Porter’s five forces analysis to understand the impact of various factors such as competitive intensity of competitors, bargaining power of suppliers, threat of substitutes, threat of new entrants, and bargaining power of buyers of the market.
Some of the key players profiled in the Europe commercial refrigeration market analysis include Bitzer GmbH, De Rigo Refrigeration S.r.l., Freor Lt Uab, FRIGOBLOCK GmbH, INTARCON, Kelvion Phe GmbH, Pfannenberg GmbH, SCM FRIGO S.P.A., TEXA Industries, and Walter Roller GmbH & Co.
Key Benefits For Stakeholders
Key Market Segments
By Product
By End User
By Country
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The Europe 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.
Europe is anticipated to garner a decent share of approx. 27.31% 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. The manufacturers are increasingly focusing on un-tapped areas of the country and delivering innovative refrigeration equipment to the food, travel, medical, and beverage industry. These manufacturers are collaborating with domestic food and other product’s producers to deliver them adequate refrigeration techniques in the market.
A. The Europe commercial refrigeration was valued at $7,395.8 million in 2021, and is projected to reach $9,921.0 million by 2028.
A. The market is registering a CAGR of 4.3% during the forecast period 2021-2028.
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A. Bitzer Kuhlmaschinenbau GmbH, FRIGOBLOCK GmbH, INTARCON, Kelvion Phe GmbH, De Rigo Refrigeration S.R.L., and Freor Lt Uab are some of the key players in the market.
A. The Europe commercial refrigeration market is segmented into by product and end user.
A. The year 2020 is the base year calculated in the report.
A. Emergence of quick service restaurants and technological advancements will shape the Europe commercial refrigeration market.
A. UK holds the major market share in Europe commercial refrigeration market.
A. Growing food industry is the major factor impacting Europe commercial refrigeration market positively.
A. Market closures, poor logistics, and restrictions on public movement in affected countries due to COVID-19 are expected to impact the market negatively in 2021.
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