Business Refrigeration Market Dimension in Europe to develop at CAGR of 5.9 by way of 2027 | UK rising at a CAGR of three.3%
Commercial refrigeration market in Europe
According to a new report, Europe Commercial Refrigeration Market by Product, End User: Opportunity Analysis and Industry Forecast, 2021 to 2028
Chilled and frozen foods are driving the market expansion, however, the industry faces significant challenges due to increasing maintenance and cost concerns.”
— Shankar Bhandalkar
5933 NE WIN SIVERS DRIVE, PORTLAND, OR, UNITED STATES, Oct. 29, 2022 /EINPresswire.com/ — According to a new report, “Commercial Refrigeration Market in Europe by Product (Freezer, Bottle Cooler, Water Storage, Commercial Kitchen Refrigerator, Medical Refrigerator , chest refrigerator and others), end users (full-service restaurants and hotels, food processing industries, hospitals, retail pharmacies, supermarkets/hypermarkets, convenience stores, quick service restaurants and others): Opportunity Analysis and Industry Forecast, 2021–2028” The market size for commercial refrigeration appliances in Europe was valued at US$7.7 billion in 2019 and is projected to reach US$9.9 billion by 2028, at a CAGR of 4.3% from 2021 to 2028.
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The growth of the commercial refrigeration industry in Europe is being driven by increasing consumer demand for frozen and chilled products due to lifestyle changes and the emergence of modern trades. In addition, the development of the organized retail sector, combined with the increase in the number of hypermarkets and supermarkets, is fueling the growth of the European commercial refrigeration market.
Trends in the European commercial refrigeration market such as advances in commercial refrigerators, integration of artificial intelligence (AI) coupled with increasing automation of appliances are expected to present potential opportunities in the European commercial refrigeration market. Therefore, the size of the European commercial refrigeration market is expected to increase during the forecast period owing to the new offerings and the development of existing product lines by the major manufacturers.
Commercial refrigeration equipment is equipment used in the commercial field to preserve food and beverages such as vegetables, fruits, meat, beer and other similar products by maintaining a specific temperature. This helps increase the shelf life of the product, making it suitable for longer purchases. Most commercial refrigeration systems are designed to lower the temperature over a period of time, while there are some refrigeration units that are specifically designed to lower the temperature of food from around 90°C to as low as 30°C in a short period of time. The rapid change in temperature helps curb bacterial growth and preserve food freshness for longer periods of time.
The Covid-19 pandemic has had a crucial impact on the growth of the European commercial refrigeration market and has changed several market scenarios. Lockdowns in various countries and bans on international travel have disrupted the supply chain and revenue chain. The report provides an in-depth analysis of the Covid-19 pandemic on the growth of the European commercial refrigeration market.
The market is segmented into product, end user and country. By type, the chest refrigeration segment made the largest contribution to the European commercial refrigeration market. By end-consumer, the supermarket/hypermarket segment accounted for the largest share of the regional market in 2019 and is expected to remain dominant throughout the forecast period for commercial refrigeration in Europe. However, the retail pharmacy segment is expected to grow rapidly at a CAGR of 5.8% from 2021 to 2028.
In terms of countries, the market is analyzed in Germany, France, UK, Italy, Spain, Netherlands, Poland, Russia, Denmark and the rest of Europe.
Some of the major players profiled in European Commercial Refrigeration Market Analysis are Bitzer GmbH, De Rigo Refrigeration Srl, Freor Lt Uab, FRIGOBLOCK GmbH, INTARCON, Kelvion Phe GmbH, Pfannenberg GmbH, SCM FRIGO SPA, TEXA Industries and Walter Roller GmbH & co
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Main benefits for stakeholders:
○ The report provides quantitative analysis of current market trends, estimates and market size dynamics from 2019 to 2028 to identify the prevailing Commercial Refrigeration market opportunities.
○ The major countries in all major regions are mapped based on their market share.
○ Major countries within each region are mapped according to their revenue contribution to the industry.
○ Porter’s Five Forces Analysis highlights the potential of buyers and suppliers to empower stakeholders to make profit-driven business decisions and strengthen their supplier-buyer network.
○ In-depth analysis of size and segmentation helps determine prevailing market opportunities.
○ Positioning of market participants facilitates benchmarking and provides a clear understanding of the current position of market participants in the commercial refrigeration industry.
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○ Gather information, analysis and strategic insights from competitors to develop effective R&D strategies.
○ The commercial refrigeration market is expected to reach $35.25 billion by 2027
○ The dehumidifier market in Europe is expected to reach US$372.15 million by 2027
○ The European audio products market is expected to reach US$7,463 million in 2027
○ The European events market is expected to reach US$123.9 billion by 2030
○ The European home fitness e-commerce market is expected to reach US$447.9 million by 2027
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October 29, 2022 at 09:18 GMT
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