The food and beverage retail application segment dominated the commercial refrigeration equipment market by volume in Europe.
Albany, NY -- (SBWIRE) -- 11/01/2016 -- European commercial refrigeration equipment market was valued at USD 7745.0 million in 2012. The market revenue is expected to grow at a CAGR of 5.9% from 2013 to 2019 recording corresponding volume CAGR of 4.2%. Presently, rising trend of people dining out and purchasing frozen foods (convenience foods) at supermarkets is leading to higher sales of equipments for commercial refrigeration purpose. Commercial refrigeration equipments find widespread applications in food service, food & beverage distribution, and food & beverage retail among others.
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The market is segmented on basis of product types, application, and geographic regions. In 2012, the food and beverage retail application segment dominated the commercial refrigeration equipment market by volume in Europe. This is due to expansion of popular retail networks such as Lidl, Aldi and Netto in this region which is driving demand for new equipments. Among all the product types, refrigerators and freezers and transport refrigeration are the fastest growing segments with collective revenue share of 36.2% in 2012. This is due to expanding beverage production facilities, along with rise in export and consumption.
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By geography, Germany dominated European commercial refrigeration equipment market in 2012 followed by U.K. Germany is anticipated to retain its dominance throughout the forecast period due to the growing expansion activities of popular retail chains in this region. However, challenges such as environmental regulations and energy efficiency concerns are hindering market growth.
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Europe commercial refrigeration equipment market has many renowned players such as Viessmann Group (Norpe Group), Hoshizaki International, Inc., Frigoglass, Hussmann Corporation (Clayton, Dubilier & Rice, LLC), Ingersoll Rand Plc, Carrier (UTC), York (Johnson Controls) and Metalfrio Solutions, Inc. and Interlevin Refrigeration Ltd. among others. Of these, FrigoGlass and Carrier are considered to have dominant position in the market.
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