Cooler and freezer are used to store vegetables, food, meat, drinks, medications, and chemicals to protect them from contamination and wastage and extend their life. Walk-in coolers and freezers are adopted in industries such as pharmaceuticals, food & beverages, hospitals, chemical labs, and supermarkets. They are employed in modern hotels and restaurants to store food and drinks to keep them fresh and protect them from getting damage and waste. These coolers and freezers are closed and insulated refrigeration spaces that are used for storing food and preventing them from moisture and oxygen in the atmosphere.
Market Scope and Structure Analysis
Description
Walk-in coolers and freezers are segmented on the basis of type, which includes indoor and outdoor. According to the Code of Federal Regulations (CFR), Walk-in freezers and coolers are enclosed storage spaces that are cooled to temperatures below or above 32 degrees Fahrenheit and have a maximum chilled storage area of >3,000 square feet. These types of commercial refrigeration units are installed outdoors or inside a structure, with or without flooring, a remote or in-place condenser. The indoor category has the highest chance of dominating the market. It is due to the fact that it is less expensive to install and maintain. Furthermore, end users are emphasizing the installation of indoors units rather than outdoor units since indoor units offer efficient cooling and freezing of items throughout the years. The outside unit requires a solid concrete base as well as weather protection, which results in increase in the installation costs.
COVID-19 Impact Analysis
- The COVID-19 pandemic ceased the production of various products in the walk-in coolers and freezers industry, which is attributed to the global lockdown. This hampered the growth of walk-in coolers and freezers market from the last few months and is likely to continue during 2022.
- COVID-19 affected the sales of walk-in coolers and freezers in the end quarter of 2021 and is anticipated to have a negative impact on the market growth throughout the next year.
- The major demand for walk-in coolers and freezers was previously noticed in giant manufacturing regions, such as North America, Europe, Asia-Pacific, and South America, which are negatively affected by the spread of the coronavirus, thereby declining the demand for coolers and freezers.
- Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on their cash reserves. Walk-in coolers and freezers manufacturers can afford a full lockdown only for a few months, after which the players have to modify their investment plans. For instance, various players in the market halted their production activities for several weeks to reduce their expenses. On the contrary, few players adopted employee lay-offs to sustain themselves during the COVID-19 health crisis.
- Walk-in coolers and freezers manufacturers are expected to focus on protecting their workforce, operations, and supply chains to respond to immediate crises and find new ways of working after COVID-19. For instance, provision of sanitizers, maintaining social distancing, as well as ensuring the vaccination of every employee in the company can assist in promoting the health & safety of the workforce.
Top Impacting Factors
The global walk-in cooler and freezer market is being driven by rising demand for walk-in coolers and freezers in various applications such as pharmaceuticals, hospitals, cold storage warehouses, chemicals, and food & beverage stores. Furthermore, food, meat, fruits, drinks, vegetables, medications, and chemicals are all stored, cooled, and frozen in walk-in coolers and freezers, which are basic modular cold storage facilities or room chambers with a walking area. They are essential components of modern hotels & restaurants, supermarkets, hospitals, and research labs where fresh, pre-cooled, and frozen items are stored to reduce their chance of contamination and increase their life span.
Furthermore, customized coolers and freezers are becoming increasingly popular. Customized walk-in coolers and freezers are preferred by end users due their flexibility and tailor-made alternatives to meet individual needs. Rise in end user preferences for customized walk-in coolers and freezers is predicted to support market participants in capitalizing on the market.
- In January 2021, Emerson has launched new platform for annual walk-in energy factor which deal in repairing and maintenance of walk-in coolers and freezers to meet the Department of Energy (DOE) demands.
- In March 2021, Hussmann, a Panasonic company, announced a strategic partnership with Takeoff Technologies to improve food retailer flexibility. Under the partnership, Takeoff joins Hussmann as a key partner in North America for automated grocery fulfilment systems. Takeoff refrigeration solutions and expertise are provided by Hussmann in order to produce food retailer-focused solutions.
- In January 2020, Foster Refrigerator, manufacturer of coolers and refrigerators, launched G2 Short into its EcoPro G3 family. It has a capacity of 439 liters and can pass through standard doorways without needing it to tilt, making it perfect for low ceilings. It requires just 100mm of space above the cabinet and is cost-effective.
Key Benefits of the Report
- This study presents the analytical depiction of the walk-in coolers and freezers industry along with the current trends and future estimations to determine the future investment pockets.
- The report presents detailed information related to key drivers, restraints, opportunities and market share of walk-in coolers and freezers.
- A quantitative analysis highlights the walk-in coolers and freezers growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed walk-in coolers and freezers analysis based on competitive intensity and how the competition will take shape in coming years.
Key Market Segments
- By Location
- By Application
- Commercial Kitchen and Restaurants
- Retail Stores
- Cold Storage Warehouse
- Pharmaceuticals
- Others
- By Door Type
- By Technology
- Self-contained
- Condensing
- By Region
- North America
- UNITED STATES
- CANADA
- MEXICO
- Europe
- FRANCE
- GERMANY
- ITALY
- UNITED KINGDOM
- Rest of Europe
- Asia-Pacific
- CHINA
- JAPAN
- INDIA
- SOUTH KOREA
- Rest of Asia Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Panasonic
- Emerson Electric Co.
- TMP Manufacturing Company
- Src Refrigeration
- Canadian Curtis Refrigeration Inc.
- American Panel Corporation
- Stericox Sterilizer Systems India
- Intertek Group Plc
- Danfoss
- Parker Haniffin