What are Key Factors Causing Boom of Commercial Refrigeration Equipment Market?

Posted by Devanshu Shrivastava on April 6th, 2021

The categories under the product segment of the commercial refrigeration equipment market are walk-in coolers, display showcases, beverage refrigeration equipment, ice merchandisers & ice vending equipment, and others. Among these, the walk-in coolers category dominated the market during 2014–2019 (historical period) on account of the rising popularity of such personalized systems by end users.

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Moreover, with market players focussing on coming up with equipment that uses refrigerants with a low Global Warming Potential (GWP), the demand for walk-in coolers will rise further. Apart from walk-in coolers, the demand for display showcases is also increasing fast. These units are especially prized by companies in the food retail business, as they use them to display the products on offer, including meats, salads, dairy products, beverages, sandwiches, ready-to-consume meals, and deli products.

Apart from supermarkets, hypermarkets, and other types of retail stores, bakery and sweet shops also widely deploy display showcases. Apart from helping display the products to customers in a more aesthetically appealing way, these cases are also easy to clean, thereby offering end users high convenience. In 2019, the largest share in the commercial refrigeration equipment industry was held by the Asia-Pacific (APAC) region.

This is attributed to the growing disposable income of a growing population in the region, which is driving the demand for processed food products. Additionally, with the increasing level of urbanization, the eating out culture is thriving here, which is resulting in the rising number of cafés, restaurants, bars, and pubs. Seeing this, even international fast-food chains, such as Domino’s, Pizza Hut, Burger King, KFC, Taco Bells, and McDonald’s, are expanding their presence in the region.

Hence, as people’s financial growth, especially in developing countries, allows them to spend on luxuries such as eating out and processed food, the demand for refrigeration systems among food processing, retail, and service companies will keep increasing.

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Devanshu Shrivastava

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Devanshu Shrivastava
Joined: January 31st, 2020
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