Commercial Refrigeration Equipment Market in Europe to grow by USD 3.68 billion from 2022 to 2027
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22 Aug, 2023, 05:30 ET
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NEW YORK, Aug. 22, 2023 /PRNewswire/ -- The commercial refrigeration equipment market size in Europe is expected to grow by USD 3,689.08 million during the five-year forecast period, according to Technavio. As per the latest report, the market will progress at a CAGR of 6.99% from 2022 to 2027. The increasing number of launches related to refrigerated food and beverage products is a major trend in the market. Consumers increasingly favor food products that offer convenience and shelf life. As a result, food and food service retailers are increasingly offering refrigerated food products with improved shelf lives, to reduce waste and increase profits. For example, Iceland Foods has introduced its own branded frozen food products in its UK supermarkets. Hence, the increasing number of launches is expected to drive market growth during the forecast period. - View the new Sample Report within minutes!
Commercial Refrigeration Equipment Market in Europe 2023-2027: Scope
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. Our commercial refrigeration equipment market in Europe report covers the following areas:
Commercial Refrigeration Equipment Market in Europe 2023-2027: Segmentation
The growing need to increase the shelf life of food products is a key factor driving market growth. The shelf life of food products is highly dependent on factors such as storage conditions. As a result, storing food products at inappropriate temperatures leads to spoilage and loss for food service establishments. In addition, a variety of measures are used to limit microbial growth, including refrigeration, reducing water activity, and including preservatives. Refrigeration is necessary to preserve nutritional and microbial quality. Hence, such factors are expected to drive market growth during the forecast period.
Regular maintenance and service requirements are significant challenges restricting market growth.
Drivers, Trends & Challenges have an impact on market dynamics and can impact businesses. Find some insights from a sample report!
Commercial Refrigeration Equipment Market in Europe 2023-2027: SegmentationCommercial Refrigeration Equipment Market in Europe is segmented as below:
The retail segment is estimated to witness significant growth during the forecast period. Retail businesses have a special need for commercial refrigeration equipment, including supermarkets, convenience stores, grocery stores, and specialty retailers. To ensure the quality, safety, and preservation of perishable foods and beverages, these companies rely heavily on refrigeration systems. Refreshment refrigerators and bar refrigerators are also important refrigerators used frequently in supermarkets, convenience stores, and hospitality establishments. Hence, such factors are expected to drive segment growth during the forecast period.
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Commercial Refrigeration Equipment Market in Europe 2023-2027: Company Analysis
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. We provide a detailed analysis of around 25 companies operating in the Commercial Refrigeration Equipment Market in Europe, including some of the companies such as AFE Group Ltd., ARNEG SPA, Carrier Global Corp., Daikin Industries Ltd., Electrolux AB, ENOFRIGO SPA, Epta Group, FRIGOGLASS SAIC, Haier Smart Home Co. Ltd., HOSHIZAKI Europe BV, Illinois Tool Works Inc., Infrico SL, Jongor Ltd., Liebherr International Deutschland GmbH, Scotsman Ice Srl, TEFCOLD AS, True Refrigeration UK Ltd., UAB FREOR LT, Viessmann Climate Solutions SE, and Ziegra Eismaschinen GmbH. Backed with competitive intelligence and benchmarking, our research reports on the Commercial Refrigeration Equipment Market in Europe are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.
Commercial Refrigeration Equipment Market in Europe 2023-2027: Key Highlights
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The commercial ice maker machine market is estimated to grow at a CAGR of 7.04% between 2022 and 2027 and the size of the market is forecast to increase by USD 1,626.12 million. This report extensively covers market segmentation by end-user (food services, retail, healthcare, and others), product type (cube ice maker, flake ice maker, and nugget ice maker), and geography (North America, Europe, APAC, South America, and Middle East and Africa). The rise in demand for commercial ice maker machines from various industries is a key factor expected to drive market growth during the forecast period.
The commercial refrigeration equipment market is estimated to grow at a CAGR of 6.86% between 2022 and 2027 and the size of the market is forecast to increase by USD 14,505.99 million. This report extensively covers market segmentation by end-user (retail, restaurants, hotels, and catering units), product (walk-in coolers, display cases, refrigerators for drinks, ice-making machines, and freezers, and others), and geography (APAC, Europe, North America, Middle East and Africa, and South America). The need to increase the storage life of food products is a key factor driving the global commercial refrigeration equipment market growth.
Commercial Refrigeration Equipment Market Scope in Europe
Growth momentum & CAGR
Accelerate at a CAGR of 6.99%
Market growth 2023-2027
USD 3,689.08 million
YoY growth 2022- 2023 (%)
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled
AFE Group Ltd., ARNEG SPA, Carrier Global Corp., Daikin Industries Ltd., Electrolux AB, ENOFRIGO SPA, Epta Group, FRIGOGLASS SAIC, Haier Smart Home Co. Ltd., HOSHIZAKI Europe BV, Illinois Tool Works Inc., Infrico SL, Jongor Ltd., Liebherr International Deutschland GmbH, Scotsman Ice Srl, TEFCOLD AS, True Refrigeration UK Ltd., UAB FREOR LT, Viessmann Climate Solutions SE, and Ziegra Eismaschinen GmbH
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Table Of Contents
Historic Market Size
Five Forces Analysis
Market Segmentation by End-user
Market Segmentation by Products
Drivers, Challenges, and Trends
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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