Selbyville, Delaware, Nov. 13, 2023 (GLOBE NEWSWIRE) --
The cold storage equipment market valuation is predicted to reach USD 90.9 billion by 2032, as reported in a research study by Global Market Insights Inc.
The rapid expansion of the food retail sector, the increasing need for preserving perishable items over extended periods, and the growing awareness regarding food safety and quality are favoring the industry growth. Additionally, the escalating adoption of advanced technologies such as IoT, cloud computing, and AI in cold storage facilities is revolutionizing the industry, optimizing energy consumption, and ensuring optimal storage conditions.
The cold storage equipment market from the ice machines segment is anticipated to witness substantial growth through 2032, as businesses recognize the importance of maintaining a steady supply of ice for various applications, including food preservation, cooling, and packaging. With a diverse range of ice machines catering to specific requirements, including flake ice, nugget ice, and gourmet ice machines, there is heightened demand from the hospitality and food service sectors.
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The cold storage equipment market from the frozen storage segment will significantly grow between 2023 and 2032, driven by the escalating demand for maintaining precise temperature conditions for storing frozen food products, pharmaceuticals, and other temperature-sensitive goods. With a focus on preserving the quality and freshness of frozen products, the advanced cooling technologies and temperature control systems are becoming popular as they ensure efficient and reliable storage solutions for various industries.
Europe cold storage equipment market is expected to witness strong CAGR from 2023 to 2032, favored by the early adoption of advanced refrigeration technologies and innovative storage facilities, along with stringent regulatory compliance. With a strong emphasis on reducing energy consumption and ensuring eco-friendly practices, there are lucrative opportunities for the manufacturers in the region to invest in R&D and innovate. These factors will push the industry demand in Europe in the coming years.
Some of the key players in the cold storage equipment market are Carrier Corporation, United Technologies Corporation (UTC), Dover Corporation, Thermo King Corporation, Frigidaire, AB Electrolux, Daikin Industries, Ltd., Americold Realty Trust, Mitsubishi Electric Corporation, Johnson Controls International plc, Swire Cold Storage, Ingersoll Rand Inc., Hussmann Corporation, Lennox International Inc., and AmeriCold Logistics LLC. These companies are working on strategies to improve their standing in the market through new product launches, partnerships, and mergers.
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For instance, in October 2022, Advansor, a part of Dover Food Retail launched CuBig II, a CO2 Climate Solution for cold storages, supermarkets, and other applications. A single unit combines AC, heating, freezing, and cooling which saves space and electricity.
Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Cold storage equipment industry 360º synopsis, 2018 – 2032
2.2 Business trends
2.3 Type trends
2.4 Temperature trends
2.5 Technology
2.6 Application trends
2.7 End-use trends
2.8 Regional trends
Chapter 3 Cold storage equipment Market Insights
3.1 Industry ecosystem analysis
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.2 Industry pitfalls & challenges
3.3 Growth potential analysis
3.3.1 By type
3.3.2 By temperature
3.3.3 By technology
3.3.4 By application
3.3.5 By end use
3.4 COVID- 19 impact analysis
3.5 Regulatory landscape
3.5.1 U.S.
3.5.2 Europe
3.6 Pricing analysis, 2022
3.7 Technology landscape
3.7.1 Future market trends
3.8 Porter's analysis
3.9 PESTEL analysis
3.10 Impact of Russia Ukraine war
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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