Commercial Refrigeration Equipment Market in Europe to grow by USD 3.69 billion from 2022 to 2027 | Growing need to increase the shelf life of food products to influence market growth - Technavio.

NEW YORK, Sept. 1, 2023 /PRNewswire/ -- The commercial refrigeration equipment market in Europe size is to grow by USD 3.69 billion from 2022 to 2027, at a CAGR of 6.99% during the forecast period. The market is fragmented due to the presence of diversified international and regional vendors. The growing need to increase the shelf life of food products is notably driving the market growth. The shelf life of food products highly depends on factors such as storage conditions. Therefore the storage of food products at inadequate temperatures leads to degradation and losses to food service establishments. The key factors that control the shelf life of food products are either preventing or limiting microbial growth. In addition, some of the processes used to control this microbial growth include refrigeration, lowering water activity, and adding preservatives. Refrigeration is crucial for preserving nutritional and microbial quality. Therefore, commercial refrigeration equipment is important for the smooth functioning of food service establishments. Consequently, these factors are anticipated to fuel the commercial refrigeration equipment market growth in Europe during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. Request sample report 

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. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also have to leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. 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 are among some of the major market participants.

Company Offerings 

• AFE Group Ltd - The company offers commercial refrigeration equipment such as cabinets, counters, and medical racks.
• ARNEG SPA - The company offers commercial refrigeration equipment such as Amburgo, Arles, and Daytona.
• Electrolux AB - The company offers commercial refrigeration equipment such as Ecostore 670 1430 digital.

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Market Dynamics 

Major  Challenge

Regular maintenance and service requirements are significant challenges hindering the market growth. As modern refrigeration systems are designed to be durable and reliable, regular maintenance and servicing are important to assure optimal performance, energy efficiency, and food safety. Also, components can wear out over time as commercial refrigeration equipment operates continuously, often under demanding conditions. Consequently, routine maintenance is important to find and address such issues before they escalate, mitigating the risk of equipment failure, disruptions to business operations, and potential food spoilage. Additionally, there is a growing need for skilled technicians to diagnose and rectify issues effectively due to the complex mechanism of modern refrigeration systems. Hence, these factors can impede the commercial refrigeration equipment market growth in Europe during the forecast period.

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Commercial Refrigeration Equipment Market in Europe 2023-2027: Segmentation

Commercial Refrigeration Equipment Market in Europe is segmented as below:

• End-user 
• Retail
• Restaurants
• Hotels
• Catering Units
• Products 
• Walk-in Coolers
• Display Cases
• Refrigerator For Drinks
• Ice-making Machines
• Freezers And Others

The retail segment is estimated to witness significant growth during the forecast period. When it comes to commercial refrigeration equipment, retail establishments, including supermarkets, convenience stores, grocery stores, and specialty retailers, have unique requirements. Such businesses highly rely on refrigeration solutions to preserve the quality, freshness, and safety of their perishable food and beverage products.  Other major types of refrigerators comprise beverage coolers and bar refrigeration units are generally used in convenience stores, supermarkets, and hospitality establishments. Therefore, these factors are anticipated to fuel the growth of this segment which, in turn, will boost the growth of the commercial refrigeration market in Europe during the forecast period.

For insights on global, regional, and country-level parameters with growth opportunities, historic (2017 to 2021) & forecast (2023-2027)  – Download a Sample Report

Commercial Refrigeration Equipment Market in Europe 2023-2027: Key Highlights

• CAGR of the market during the forecast period 2023-2027
• Detailed information on factors that will assist the commercial refrigeration equipment market in Europe's growth during the next five years
• Estimation of the commercial refrigeration equipment market in Europe size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behaviour
• The growth of the commercial refrigeration equipment market in Europe
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of commercial refrigeration equipment market in Europe, vendors

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Related Reports

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.

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.

Table Of Contents

1. Executive Summary
2. Market Landscape
3. Market Sizing
4. Historic Market Size
5. Five Forces Analysis
6. Market Segmentation by End-user
7. Market Segmentation by Product
8. Customer Landscape
9. Geographic Landscape
10. Drivers, Challenges, and Trends
11. Vendor Landscape
12. Vendor Analysis
13. Appendix

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