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$45 Billion Commercial Refrigeration Equipment Market - Global Forecast to 2023
Thursday, October 11, 2018

DUBLIN, Oct. 11, 2018 /PRNewswire/ --

The "Commercial Refrigeration Equipment Market by Product Type, Refrigerant Type (Fluorocarbons, Hydrocarbons, Inorganics) Application (Hotels & Restaurants, Supermarkets & Hypermarkets), and Region (Europe, APAC, North America) - Global Forecast to 2023" report has been added to's offering.

The global commercial refrigeration equipment market is projected to grow from an estimated USD 33.58 billion in 2018 to USD 45.45 billion by 2023, at a CAGR of 6.2%, from 2018 to 2023.

The commercial refrigeration equipment market is expected to shift towards natural refrigerant-based systems because of the potential for large energy savings, and implementation of stringent regulations worldwide for phasing out ozone-depleting substances, such as hydrofluorocarbons (HFCs) and hydrochlorofluorocarbons (HCFCs).

The demand for NH3/CO2 cascade systems is also slated to go up gradually due to the advantages they offer for food processing and low-temperature distribution facilities. These benefits include low operating costs (as they use less energy per ton of refrigeration compared to other systems), lower capital and compliance costs, optimal food quality, and increased throughput.

The hotels and restaurants segment is projected to be the largest application segment of the commercial refrigeration equipment market from 2018 to 2023. The advanced commercial refrigerators provide for practical designs to capture the attention of customers at any such point of sale.

The fluorocarbons segment is estimated to be the largest refrigerant type segment of the commercial refrigeration equipment market in 2018. Fluorocarbons are chemical compounds comprising carbon, hydrogen, chlorine, and fluorine as their major constituents. However, not all fluorocarbons may consist of both chlorine and fluorine atoms. The applications of these refrigerants are in refrigerators (domestic, transport, and commercial) and large-scale refrigerators (supermarket/ hypermarket). Fluorocarbons are further sub-divided into three types - HFCs, HCFCs, and HFOs.

The Asia Pacific is expected to be the largest market of commercial refrigeration equipment during the forecast period. The increasing population in the region, improving economic conditions, such as rising GDP & disposable incomes, and a booming consumer appliances sector have led to growth in the commercial refrigeration equipment in the region. In addition, the growth of the commercial refrigeration equipment market in this region is fueled by growth in the manufacturing sector; increase in spending on private & public infrastructure development; and rapid urbanization.

Commercial Refrigeration Equipment Market

Stringent regulations against the use of fluorocarbon refrigerants is a key restraint in the commercial refrigeration equipment market. Fluorocarbon refrigerants adversely affect the ozone layer due to which, the governments of several countries worldwide are imposing regulations to limit the use of fluorocarbon refrigerants. They have agreed to phase out the use of HCFCs and HFCs by imposing limits on their consumption.

Key players operating in the commercial refrigeration equipment market include Carrier Corporation (US), Emerson Electric Company (US), Daikin Industries, Ltd. (Japan), and GEA Group AG (Germany).. These companies focus on enhancing their product portfolios to grow in the commercial refrigeration equipment market.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

4.1 Attractive Opportunities in the Commercial Refrigeration Equipment Market
4.2 Commercial Refrigeration Equipment Market, By Region
4.3 Asia Pacific Commercial Refrigeration Equipment Market, By Country & Product Type
4.4 Commercial Refrigeration Equipment Market, By Application & Region
4.5 Leading Countries in the Commercial Refrigeration Equipment Market
4.6 Commercial Refrigeration Equipment Market, By Refrigerant Type

5 Market Overview

5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers Improving Consumer Lifestyle and Flourishing Food and Healthcare Industries Growing Cold Chain Market Increasing Use of Advanced Technologies Such as Magnetic Refrigeration
5.2.2 Restraints Stringent Regulations Against the Use of Fluorocarbon Refrigerants
5.2.3 Opportunities Potential Demand for Carbon Dioxide/Ammonia (CO2/Nh3) Cascade Refrigeration Systems Improvements in the Efficiency of Refrigeration Systems With the Use of Natural Refrigerants
5.2.4 Challenges Few Purification Companies
5.3 Porter's Five Forces Analysis
5.3.1 Threat of New Entrants
5.3.2 Bargaining Power of Suppliers
5.3.3 Threat of Substitutes
5.3.4 Bargaining Power of Buyers
5.3.5 Intensity of Competitive Rivalry
5.4 Policies and Regulations
5.4.1 Europe Eu F-Gas Regulations Montreal Protocol Denmark Austria
5.4.2 North America Significant New Alternative Policy (SNAP) By EPA
5.4.3 Asia Pacific Japan: Revised F-Gas Law China - Feco: First Catalogue of Recommended Substitutes for HCFCS

6 Commercial Refrigeration Equipment Market, By Product Type

6.1 Introduction
6.2 Refrigerator & Freezer
6.2.1 Refrigerator & Freezer Types Walk-In Reach-In Chest
6.3 Transportation Refrigeration
6.3.1 Transportation Refrigeration Types Shipping Container Trailer Truck
6.4 Refrigerated Display Case
6.5 Beverage Refrigeration
6.6 Ice Cream Merchandiser
6.7 Refrigerated Vending Machine

7 Commercial Refrigeration Equipment Market, By Refrigerant Type

7.1 Introduction
7.2 Fluorocarbons
7.2.1 Hydrochlorofluorocarbons (HCFCS)
7.2.2 Hydrofluorocarbons (HFCS)
7.2.3 Hydrofluoroolefins (HFOS)
7.3 Hydrocarbons
7.3.1 Isobutane
7.3.2 Propane
7.3.3 Others
7.4 Inorganics
7.4.1 Ammonia
7.4.2 CO2
7.4.3 Others

8 Commercial Refrigeration Equipment Market, By Application

8.1 Introduction
8.2 Market Size & Projection
8.3 Hotels & Restaurants
8.4 Supermarkets & Hypermarkets
8.5 Convenience Stores
8.6 Bakeries

9 Commercial Refrigeration Equipment Market, By Region

9.1 Introduction
9.2 Asia Pacific
9.2.1 China
9.2.2 Japan
9.2.3 India
9.2.4 South Korea
9.2.5 Thailand
9.2.6 Malaysia
9.2.7 Singapore
9.2.8 Indonesia
9.2.9 Rest of Asia Pacific
9.3 North America
9.3.1 US
9.3.2 Canada
9.3.3 Mexico
9.4 Europe
9.4.1 Germany
9.4.2 UK
9.4.3 France
9.4.4 Italy
9.4.5 Spain
9.4.6 Rest of Europe
9.5 Middle East & Africa
9.5.1 Saudi Arabia
9.5.2 Turkey
9.5.3 Egypt
9.5.4 Rest of Middle East & Africa
9.6 South America
9.6.1 Brazil
9.6.2 Argentina
9.6.3 Chile
9.6.4 Rest of South America

10 Competitive Landscape

10.1 Overview
10.2 Market Ranking Analysis
10.3 Competitive Situations & Trends
10.3.1 New Product Launches
10.3.2 Acquisitions
10.3.3 Expansions
10.3.4 Agreements
10.3.5 Joint Ventures

11 Company Profiles

11.1 Emerson Electric Company
11.2 Carrier Corporation
11.3 Danfoss
11.4 GEA Group
11.5 Heatcraft Worldwide Refrigeration
11.6 Daikin
11.7 Johnson Controls
11.8 Bitzer
11.9 Advansor
11.10 Baltimore Aircoil Company
11.11 Hillphoenix
11.12 Carnot Refrigeration
11.13 SCM Frigo
11.14 Green & Cool
11.15 Henry Technologies
11.16 Other Leading Players
11.16.1 Aht Cooling Systems GmbH
11.16.2 Bharat Refrigerations
11.16.3 Commercial Refrigeration Inc.
11.16.4 Evapco
11.16.5 Hussman Corporation
11.16.6 Mayekawa Mfg. Co., Ltd.
11.16.7 National Refrigeration Company
11.16.8 Rockwell Industries Limited
11.16.9 Western Refrigeration Private Limited

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