Commercial refrigeration market in Europe
According to a new report, the European commercial refrigeration market was valued at $ 7.7 billion in 2019 and is expected to reach $ 9.9 billion by 2028, registering a CAGR of 4.3% from 2021 to 2028.
The growth of the commercial refrigeration industry in Europe is driven by the increasing demand for frozen and refrigerated products among consumers due to lifestyle changes and the emergence of modern trades. In addition, the development of the organized retail sector coupled with the increase in the number of hypermarkets and supermarkets is driving the growth of the European commercial refrigeration market.
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However, analysis of the commercial refrigeration market in Europe has revealed that issues such as the need for frequent maintenance and potential technical issues due to lack of proper maintenance are hampering the market growth. The trends in the commercial refrigeration market in Europe, such as advancements in commercial refrigerators, the integration of artificial intelligence (AI), and the increase in equipment automation, are expected to provide potential opportunities for the refrigeration market. commercial refrigeration in Europe. Thus, the size of the commercial refrigeration market in Europe is expected to increase during the forecast period owing to new offerings and expansion of the existing product line by major manufacturers.
Commercial refrigeration equipment are devices used in the commercial sector to preserve foods and beverages such as vegetables, fruits, meat, beer, and other similar products by maintaining a specific temperature. This helps to increase the shelf life of the product, making it suitable for purchase for a longer period of time. Most commercial refrigeration systems are designed to reduce the temperature over a period of time, while some refrigeration equipment is specifically designed to reduce the temperature of food by about 90 ° C to 30 ° C in a short period of time. The rapid change in temperature helps limit bacterial growth and keep food fresh for an extended period of time.
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The market is segmented into product, end user and country. By type, the chest refrigeration segment was the largest contributor to the commercial refrigeration market share in Europe. By end user, the supermarket / hypermarket segment accounted for maximum share of the regional market in 2019 and is expected to remain dominant during the forecast period of commercial refrigeration in Europe. However, the retail pharmacy segment is expected to experience rapid growth with a CAGR of 5.8% from 2021 to 2028.
At country level, the market is analyzed in Germany, France, UK, Italy, Spain, Netherlands, Poland, Russia, Denmark and rest of Europe.
Impact of the COVID-19 pandemic: “Market closures, poor logistics and restrictions on the movement of the public in affected countries due to COVID-19 are expected to negatively impact the market in 2021.”
Key Market Players Featured In The Report:
From Rigo Refrigeration Srl
Freor Lt Uab
Kelvion Phe GmbH
SCM FRIGO SPA
Walter Roller GmbH & Co.
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Main conclusions of the study
○ Based on the type, the thoracic refrigeration segment in the market is expected to grow at a CAGR of 4.4% from 2021 to 2028.
○ In terms of country, UK is expected to maintain its leading position throughout the forecast period, with a CAGR of 3.3%.
○ On an end-user basis, the supermarket / hypermarket segment accounted for 23.5% of the share in 2019; However, the retail pharmacy segment is expected to grow at a CAGR of 5.8% from 2021 to 2028.
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