Latin America $2.29 Bn Commercial Refrigeration Equipment Market to 2023 - Quick Service Restaurants (QSRs) Posting High Demand for Commercial Refrigeration
DUBLIN, Jan. 23, 2019 /PRNewswire/ --
The "Latin America Commercial Refrigeration Equipment Market by Equipment Type -Market Size, Share, Development, Growth, and Demand Forecast, 2013-2023" report has been added to ResearchAndMarkets.com's offering.
The Latin American commercial refrigeration equipment market is expected to reach $2,295.4 million by 2023
The growth in the market can be attributed to the growing food and beverage industry, predominantly in countries such as Brazil and Mexico. The consumption of ready-to-eat products, beverages, and frozen food is increasing in Latin America, which is further boosting the demand for commercial refrigeration equipment.
On the basis of equipment type, the Latin American commercial refrigeration equipment market has been categorized into walk-in coolers, beverage refrigeration, transportation refrigeration equipment, parts, display cases, ice making machineries, and other equipment, wherein other equipment' includes vending machines, cryogenic equipment, and liquid chiller. Walk-in coolers equipment was the largest category in terms of value in 2017. However, the market for ice making machineries is expected to witness the fastest CAGR, during the forecast period. This can be mainly attributed to the rising demand from grocery stores for the preservation of perishable products, such as meat, poultry, and fish.
Based on end-user, the Latin American commercial refrigeration equipment market has been categorized into supermarkets, hotels/restaurants and catering, hypermarkets, convenience stores, e-commerce, and others, wherein others category includes hospitals, educational institutions, large pharmaceutical stores, and medical and life sciences. Supermarkets held the largest share in the market accounting for 26.2% share in 2017. The increase number of supermarkets in Brazil and increasing food retail sales through supermarkets in Chile are the major factors driving the market in the region.
The economies in Latin America faced slow growth during 2013-2016, owing to global oil crisis and geopolitical instability in countries such as Brazil and Venezuela. Despite sluggish growth in the region, tourism industry witnessed the growth, driven by region's diversity and natural resources as well as various government initiatives to promote tourism industry.
For instance, Colombia introduced tax incentives and relaxed other regulations, for bringing hotel chains such as Hilton, Hyatt, and Marriott into the country. This has led to increase in hotel construction in the region. For instance, 212 hotel projects and around 34,550 guestrooms in Brazil are in pipeline, in comparison to Colombia which has 63 hotel projects and around 9,500 guestrooms in pipeline. Growing economic stability, and rising tourism sector are further projected to boost the hospitality sector in the region. This is expected to support the Latin American commercial refrigeration equipment market growth.
Product launches were one of the key developments observed in the commercial refrigeration equipment market in Latin America. United Technologies Corporation broadened its product portfolio and is expected to consolidate its market position in the region, where it currently holds a market share of over 5%.
Key Topics Covered:
Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.4 Key Stakeholders
Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions for the Study
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Equipment Type
4.1.1.1 Walk-in coolers
4.1.1.1.1 Packaged unit
4.1.1.1.2 Remote condensing unit
4.1.1.1.3 Remote plant
4.1.1.2 Transportation refrigeration equipment
4.1.1.2.1 Road
4.1.1.2.2 Rail
4.1.1.2.3 Marine
4.1.1.2.4 Air
4.1.1.3 Display cases
4.1.1.3.1 Plug in cases
4.1.1.3.2 Remote cases
4.1.1.4 Beverage refrigeration
4.1.1.4.1 Beverage cooling & dispensing units
4.1.1.4.2 Drinking fountains
4.1.1.4.3 Beer dispensing units
4.1.1.4.4 Soda fountain equipment
4.1.1.4.5 Others
4.1.1.5 Parts
4.1.1.6 Ice making machineries
4.1.1.6.1 Ice cube machineries
4.1.1.6.2 Ice flake machineries
4.1.1.6.3 Ice nugget machineries
4.1.1.7 Other equipment
4.1.2 By Application
4.1.2.1 Food service
4.1.2.2 Food and beverage distribution
4.1.2.3 Food and beverage retail
4.1.2.4 Others
4.1.3 By End-User
4.1.3.1 Supermarkets
4.1.3.2 Hotels/restaurants & catering
4.1.3.3 Hypermarkets
4.1.3.4 Convenience stores
4.1.3.5 E-commerce
4.1.3.6 Others
4.2 Value Chain Analysis
4.2.1 Commercial refrigeration equipment manufacturers
4.2.2 Distributors/Wholesalers
4.2.3 Retailers
4.2.4 Equipment Installer
4.2.5 Online Channel
4.2.6 End users
4.3 Market Dynamics
4.3.1 Trends
4.3.1.1 Latin American countries exhibiting new store formats
4.3.1.2 Use of natural refrigerants instead of synthetic refrigerants
4.3.1.1 Reduction in the consumption of electric energy
4.3.2 Drivers
4.3.2.1 Growing Food and Beverage Industry
4.3.2.2 Increasing demand for ready-to-eat products and beverages
4.3.2.3 Hospitality sector on a recovery spree
4.3.2.4 Impact analysis of drivers on market forecast
4.3.3 Restraints
4.3.3.1 Economic uncertainty hindering the growth prospect
4.3.3.2 Impact analysis of restraints on market forecast
4.3.4 Opportunities
4.3.4.1 Opportunities in food and beverage sector for Chile
4.3.4.2 Quick service restaurants (QSRs) posting high demand for commercial refrigeration
4.4 Porter's Five Forces Analysis
Chapter 5. Latin America Market Size and Forecast
5.1 By Equipment Type
5.1.1 Walk-in Coolers, by Type
5.1.2 Transportation Refrigeration Equipment, by Transportation Mode
5.1.3 Display Cases, by Type
5.1.4 Beverage Refrigeration, by Type
5.1.5 Ice-making Machineries, by Type
5.2 By Application
5.3 By End-User
5.4 By Country
Chapter 6. Brazil Market Size and Forecast
Chapter 7. Mexico Market Size and Forecast
Chapter 8. Argentina Market Size and Forecast
Chapter 9. Colombia Market Size and Forecast
Chapter 10. Chile Market Size and Forecast
Chapter 11. Peru Market Size and Forecast
Chapter 12. Rest of LATAM Market Size and Forecast
Chapter 13. Competitive Landscape
13.1 Market Share Analysis of Key Players
13.2 Competitive Benchmarking of Key Players
13.3 Recent Activities of Key Players
13.4 Strategic Developments of Key Players
Chapter 14. Company Profiles
- United Technologies Corporation
- Hussmann Corporation
- AB Electrolux
- Dover Corporation
- Daikin Industries Ltd.
- AHT Cooling Systems GmbH
- Illinois Tool Works Inc.
- Johnson Controls International PLC
- Metalfrio Solutions S.A.
- Lennox International Inc.
For more information about this report visit https://www.researchandmarkets.com/research/2sg4pd/latin_america_2?w=5
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