Commercial Refrigeration Equipment to See 6.3% Annual Growth Through 2022

Expansion Comes Thanks to Global E-commerce and Growth in International Food Trade


WELLESLEY, Mass., May 22, 2018 (GLOBE NEWSWIRE) -- Growth in the international food trade, rising time constraints, industry developments among restaurant chains and growth of global e-commerce will all help push expansion of the worldwide commercial refrigeration equipment market, according to a report by BCC Research.

The global market is expected to see a compound annual growth rate (CAGR) of 6.3% through 2022, when it could be worth $4.9 billion, according to the report Commercial Refrigeration Equipment: Global Markets and Technologies Through 2022.

Major players in the market include AHT Cooling Systems, Blue Star, Carrier, Daikin Industries, Electrolux, Fujimak, Hussmann, Illinois Tool Works, Ingersoll Rand, Johnson Controls International, Lennox International, Panasonic, Rockwell Industries, Standex International, Traulsen, Visible Energy and Whirlpool.

Research Highlights

  • By segment, refrigerators and freezers will lead the industry in size, with an estimated 2022 value of $1.5 billion. Growth, however, will be led by the transportation refrigeration equipment segment, which expects a CAGR of 7.3% through the period.
  • While overall growth is strong, some forces are impacting regional expansion differently. For example, developments among organized restaurant chains, supermarkets and hypermarkets are primarily occurring in developing nations in the Asia-Pacific region and Latin America.
  • By end user, growth will be strongest for e-commerce, which anticipates a CAGR of 6.8% through 2022, though by size the industry will be dominated by hypermarkets, which will reach an estimated $1.6 billion by 2022.

“Overall, the commercial refrigeration equipment market holds great opportunities for new entrants as well as existing players,” report author and BCC Research analyst Ritam Biswas said. “BCC Research has identified technological advances as the most important criteria for companies to survive in this market. Accordingly, the market is expected to see new technological evolutions as well as an increase in mergers and acquisitions in the coming years.”
Industry Challenges Include Volatile Fuel Costs, High Energy Consumption

Though growth through 2022 is generally seen to be positive, a number of factors may hinder expansion or limit industry progress. Chief among concerns are volatile fuel costs, which are a particular problem for the transport refrigeration segment, where any drastic movement can severely impact demand. In emerging regions, the high energy consumption use of many refrigeration units is limiting adoption among small retailers. To address this concern, manufacturers are moving toward the introduction of advanced and highly energy-efficient commercial refrigeration equipment.

About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.


            

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