Transparency Market Research (TMR), A Market Intelligence And Research Firm, Has Published A Research Study On "Refrigerated Display Cases, Beverage Refrigerators and Dispensers, and Chilled Rooms Market"
Albany, NY -- (SBWIRE) -- 01/19/2016 -- Transparency Market Research has announced a new publication, titled "Refrigerated Display Cases, Beverage Refrigerators and Dispensers, and Chilled Rooms Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2022". According to this report, the global commercial refrigeration market will expand at a 10.10% CAGR during the forecast period from 2015 to 2022. In 2014, the global commercial refrigeration market was worth US$31.7 bn and by 2022, the market is projected to be worth US$66.9 bn.
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The global market for commercial refrigeration equipment has been healthy growth due to surge in demand for equipment such as refrigerated display cases, chilled rooms, beverage refrigerators and dispensers. Refrigerated display cases (RDCs) are refrigeration equipment used for displaying and storing products (food items) in chilled or frozen conditions. Hybrid versions of these RDCs which have combination of refrigeration and heating have been trending in the market, especially with demand from quick service restaurants and similar food service outlets. Chilled/cold room is a refrigerated area (chamber) used to store perishable food items and vegetables in the seafood and meat industry, dairy and ice cream industry, horticulture and floriculture industry, hospitals, research laboratories, hotel and restaurant industry and pharmaceutical industry. Refrigeration of beverages requires beverage refrigerators whereas the last segment drinking fountains and water dispensers are used across variety of locations. Factors such as changing consumer lifestyle, rise in consumer dispensable income and expanding retail (food retail) store network are expected to support the market growth of these commercial refrigeration equipment market during the forecast period.
In 2014, chilled rooms segment dominated the global commercial refrigeration equipment market in terms of revenue. The growth in this segment is mainly driven by growing online retailing systems which increase the demand for chilled rooms with growing number of warehouse used for storage of perishable food products. Additionally, high initial purchase price boosts its revenue. On the basis of product type, chilled rooms market is segmented as walk-in cooler rooms, walk-in freezers rooms and walk-in hybrid rooms. In 2014, walk-in cooler rooms accounted for major revenue share of the global chilled room market revenue, estimated close to 47%. On the basis of product design, RDCs market is segmented as vertical, horizontal and others (hybrid/semi-vertical). In 2014, vertical (front open) RDCs dominated the global refrigerated display cases market in terms of revenue. More display space per unit area of floor makes vertical RDCs preferred by store operators thus boosting the growth for this segment. On the basis of product type, RDCs market is segmented as – plug-in and remote.
The global RDCs and chilled rooms market is highly fragmented with a huge number of global and regional participants. Dover Corporation, Frigoglass, Manitowoc Company, Inc., United Technologies Corporation, and Hoshizaki International are a few players dominating the RDCs and chilled rooms market. The key market players keep on doing mergers and acquisitions, development in distribution network, and expansion in product line to gain competitive edge over their peers.
Demand from small to medium sized stores is expected to drive the growth of plug-in RDCs market which require limited investment and floor space as compared to remote systems. Benefits such as lower installation time and flexibility to move are the key attributes for plug-in RDCs market growth. Vertical RDCs are suited for non-sub-zero items (fast moving items) which see higher volume sales and turn-around as compared to sub-zero storage. Vertical RDCs are expected to see higher demand as against horizontal and other types of RDCs, which have higher preference across organized large size retail stores.
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Geographically, Asia-Pacific is the largest revenue contributor in RDCs, chilled rooms, beverage refrigerators and dispensers market. Booming commercial sector, especially hotels, restaurants, catering and retail industry is driving the commercial refrigeration equipment market. Europe and North America are witnessing high competition in the market for commercial refrigeration equipment market as these regions are saturated with local and global brands.
Major players in the market include Amerikooler Inc, U.S. Cooler Company, SRC Refrigeration, Vestforst A/S, Zero Zone, Inc., ColdKit, Sanden Corporation, ISA Italy S.r.l, Epta S.p.A., Blue Star Ltd., AHT Cooling Systems GmbH, Lennox International, Inc., Hussmann International, Inc., Illinois Tool Works, Inc., Dover Corporation, United Technologies Corporation – Climate, Controls & Security Unit (Carrier), Daikin Industries, Ltd., Beverage-Air Corporation, Metalfrio Solutions S.A. among others. Focus on eco-friendly and energy efficient product development, innovation, expansion through mergers and acquisition and portfolio development are few of the strategies adopted by leading players to retain their position in the commercial refrigeration equipment market.
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