Global food service equipment (commercial refrigeration) market was valued at USD 33,370 million in 2014, growing at a CAGR of 4.8% from 2014 to 2020. Food service equipment (commercial refrigeration) plays an important role in serving and storing in restaurants, hotels, fast food joints, educational institutes and hospitals among others.
Albany, NY -- (SBWIRE) -- 05/11/2016 -- Refrigeration is the process of transferring the heat from one location to another. In this case the heat is taken from the foods and other edible items and transferred out from the refrigeration units. The commercial refrigeration equipments are primarily used in the hospitality industry. The changing lifestyle and increase in number of hotels and restaurants is fuelling the market for growth. The commercial refrigeration equipments are generally segmented by the types of equipments. Continuous technological advancement in refrigeration systems is owing to the growth of this market.
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The food service equipment (commercial refrigeration) market is considered to be volatile as a result of the fluctuation in the trends of various equipments and application markets across the globe. The rise in number of hotels and restaurants across the globe is owing to the growth in food service equipment (commercial refrigeration) market. In addition, the changing lifestyle of the working population is also ensuring the demand for ready to cook food. This is resulting in the rise of retail outlets and supermarkets leading to the demand for commercial refrigeration equipment. Moreover, commercial refrigeration equipment also find their application in hospitals to preserve medicines and vaccines.
Acceptance of high end technologies and the expansion of hospitality industry across various geographic locations is creating new opportunities for the food service equipment (commercial refrigeration) manufacturers globally. However, the high initial investment is acting as a restraint for the market. Regionally, North America has the highest penetration rate for food service equipment (commercial refrigeration) as they are the early adapters of latest technology.
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This report covers the global food service equipment (commercial refrigeration) market along with their performance in regions such as North America, East Europe, South West Europe, North West Europe, Central Europe, Asia Pacific and Russia among others. The report provides in-depth analysis for each region along with market estimates and forecast from 2013 to 2020 in terms of revenues and volumes.
This market research study analyzes the food service equipment (commercial refrigeration) market globally, and provides estimates in terms of revenue (USD million) and volume (thousand units) from 2014 to 2020. In addition, the drivers and the restraints that are affecting the industry have been recognized. Furthermore, they have been analyzed to understand their impact over the forecast period. Moreover, it identifies the significant opportunities for market growth in the coming years.
By region, the market has been divided into North America, Latin America, East (Europe), South West (Europe), North West (Europe), Central (Europe), Asia-Pacific (APAC), Russia, China, India, Turkey & Middle East and Africa and these have been estimated in terms of revenue (USD billion) and volume (thousand units). In addition, the report segments the market based on the equipment type, which include ice machines, refrigerated vending machines, beverage dispensers, glass door merchandisers (GDMs), commercial fridges/freezers, blast freezers, ice cream machines, ice cream cabinets, and walk ins among others.
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In order to have a better understanding of the food service equipment (commercial refrigeration) market, a detailed value chain has been provided. In addition, the Porter's five forces affecting the market have been identified. Furthermore, the study also includes the market attractiveness analysis where the applications have been benchmarked based on the growth rate, scope and attractiveness in general.
The report provides company market share analysis of various industry participants. The key players have also been profiled on the basis of company overview, financial overview, business strategies, and the recent developments in the field of food service equipments (commercial refrigeration). Major market participants profiled in this report include .Ali Group, Meiko, Hobart Corporation, Manitowoc Company Inc., Hoshizaki Electric Co., Ltd. Cambro Manufacturing Company Inc. and Dover Corporation among others.
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