Commercial Refrigeration Equipment Market to touch US$66.9 bn by 2022, Asia Pacific Steering Growth

According to a new market report published by Transparency Market Research Refrigerated Display Cases, Beverage Refrigerators and Dispensers, and Chilled Rooms Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2022, the global commercial refrigeration equipment market was valued at US$31.7 bn in 2014 and is expected to reach US$66.9 bn by 2022, growing at a CAGR of 10.1% from 2015 to 2022.

In 2014, Asia Pacific was the largest revenue contributor to the global commercial refrigeration equipment (Refrigerated Display Cases, Beverage Refrigerators and Dispensers, and Chilled Rooms) market revenue. Factors such as proliferation of retail chains, rising food safety and quality regulations and changing food consumption trends are expected to be key growth drivers during the forecast period. The chilled rooms segment generated maximum revenue contributing 41.2% of the global commercial refrigeration equipment market in 2014. Asia Pacific is expected to be the fastest growing market during the forecast period. The growth in the region is primarily attributed to robust economic developments in China, India and other countries.

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North America is the largest revenue contributor in the beverage refrigerators market. The expected rise in adoption of beverage coolers is mainly driven by its demand in supermarkets and restaurants. Fountains/dispensers market is mainly driven by Asia Pacific and North America, each accounting 31.9% and 31.8% of the global dispenser market revenue respectively in 2014.

In 2014, vertical  front open segment accounted for the maximum revenue i.e. 60.2% of the global refrigerated display cases market. By product type, plug-in RDCs dominated the global refrigerated display cases market in 2014. The global RDCs market is concentrated with global and local manufacturers competing intensely. Players in North America and Europe are expanding to low cost manufacturing centers in emerging markets of Asia-Pacific, Africa and Latin America so as to overcome the operational challenges such as dropping profit margins and high investment.

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Walk-in cooler rooms was the largest revenue contributor segment in chilled rooms segment accounting 46.9% of the chilled rooms market. In the same year, the penetration of walk-in hybrid rooms was quite low and is expected to rise with the CAGR of 8.7% over the forecast period. In order to leverage the potential revenue opportunities, leading players are focusing on differentiated product positioning, distribution excellence and geographic expansion.

The report analyses global market for refrigerated display cases, beverage refrigerators and dispensers, and chilled rooms and provides estimates in terms of revenue (US$ Mn) and volume (Mn Units) for period 2012 to 2022. Market estimates are provided for different segments, categorized on the basis of product type, RDC product design, RDC product type, chilled room product type and geographies. The market has been segmented as follows:

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Market Segmentation:

Global Commercial Refrigeration Equipment Market, by Product Type
Refrigerated Display Cases
Chilled Rooms
Beverage Refrigerators
Dispensers/Fountains

Global Refrigerated Display Cases (RDCs) Market, By Product Design
Vertical
Horizontal
Others (hybrid/semi-vertical)

Global Refrigerated Display Cases (RDCs) Market, By Product Type
Plug-in
Remote

Global Chilled Rooms Market, By Product Type
Walk-in cooler rooms
Walk-in freezers rooms
Walk-in hybrid rooms

Global Commercial Refrigeration Equipment Market, By Geography
North America
Europe
Asia Pacific
Rest of the World

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