Commercial refrigeration equipment are refrigerators designed especially for commercial use with a wide range of temperature control and with remote or self-contained condensing units. Commercial refrigerators are used for food and beverage storage and merchandising purposes.
The global commercial refrigeration equipment market is classified on the basis of products into transportation refrigeration equipment, refrigerators and freezers, beverage refrigerators, other equipment (display cases, ice machines, refrigerated vending machines, cryogenic equipment, liquid chillers, and small market products like compressor racks, dairy coolers, and egg refrigerators), and commercial refrigeration equipment parts. In 2014, the other equipment segment dominated the market accounting for US$ 13,475.5 Mn in revenue. The growth of this segment is mainly attributed to increasing demand for refrigerated display cases in retail stores. However, the transportation refrigeration system is expected to be the fastest-growing segment in the commercial refrigeration equipment market over the forecast period. On the basis of application, commercial refrigeration equipment market is segmented into food service, food and beverage retail, food and beverage distribution, food and beverage production, and others (warehousing; custom made/designed for places and purposes, such as sports venues, entertainment centers, and research and development centers). In 2014, the food service application segment dominated the global commercial refrigeration equipment market in terms of revenue.
A shift from plug-in to remote commercial refrigerators, the use of LED technology and proximity sensors, preference for enclosed refrigeration systems, the use of natural or inorganic refrigerants in commercial refrigeration equipment, manufacturing of small commercial refrigeration cabinets for small food retail stores, and the use of solar-powered commercial refrigeration equipment are the trends observed in the commercial refrigeration equipment market. Currently, applications such as food service and food and beverage retail are acting as drivers for the growth of the commercial refrigeration equipment market.
The commercial refrigeration equipment market is expected to see strong growth during the forecast period as traditional refrigerators are expected to be replaced by new refrigeration equipment in response to energy efficiency regulations. This would also boost the rate of product and technology developments in the commercial refrigeration equipment market. The expanding customer base in emerging regions, their changing food consumption habits, and increasing demand for food and beverage refrigeration systems at hotels and retail stores is boosting the commercial refrigeration equipment market. Currently, Asia Pacific dominates the global commercial refrigeration equipment market in terms of revenue and it is expected to continue witnessing the highest growth over the forecast period.
Major players in the commercial refrigeration equipment market include Daikin Industries, Ltd., Whirlpool Corporation, Danfoss A/S, United Technologies Corporation – Carrier, Dover Corporation, Illinois Tool Works, Inc., Hussmann Corporation, Ingersoll Rand Plc., Haier Inc., Metalfrio Solutions SA, Beverage-Air Corporation (Ali S.p.A), and Electrolux AB. New product development and focus on increasing the sales in the emerging markets are a few of the strategies adopted by leading players in the commercial refrigeration equipment market.