Commercial Bar Refrigeration Equipment Market is segmented by Product Type (Commercial Beer and Cocktail Dispensers, Commercial Glass Chillers and Frosters, and Commercial Bottle and Wine Coolers), and by Region (United States, Canada, Mexico, France, Germany, Italy, Spain, United Kingdom, Russia, China, India, Philippines, Malaysia, Australia, Austria, South Korea, Middle East, Japan, Africa and Rest of World)
Commercial Bar Refrigeration Equipment Market size shall reach a value of $2x61.4 Million in 2027, growing with a CAGR of 12.13% during the forecast period of 2020 to 2027.
Market Definition / Research Scope
Commercial bar refrigeration equipment are applied in food and beverage industries for storage and preservation of perishable and semi-perishable foods. They minimize food wastage. They are used in supermarkets, hypermarkets, convenience stores, restaurants and warehouses.
Carrier Commercial Refrigeration, a global leader in high-technology heating, air conditioning and refrigeration solutions launched a cool future at EuroShop 2020, the worlds largest trade fair for retail food investors. The cool future is designed with sustainable innovative technology for commercial and warehouse refrigeration applications. Previously, in December 2018, the company had launched Puron Advance, a refrigerant efficient for light commercial products. Puron Advance replaced the companys R-410A as a solution to global warming.
Manufacturers are adopting solutions that will reduce environmental impact by using natural refrigerants instead of HFCs(Hydrofluorocarbons) which lead to global warming. In January 2019, The Kigali Amendment to the Montreal Protocol came into effect to encourage the reduction of man-made greenhouse gases.
Manufacturers like SunDanzer Refrigeration Inc are integrating renewable energy in manufacturing processes to produce solar powered refrigeration equipments. Others like Samsung, Haier and Danfoss are incorporating IIoT(Industrial Internet of Things) to come up with smart refrigerators. The market is fragmented with stiff competition. Asia Pacific is the market dominator followed by North America and Europe.
Commercial Bar Refrigeration Equipment Market Growth and Trends
Driving factors for the industry :
• Growing popularity of commercial bar refrigeration equipment implemented with LED lights among end-users is boosting the commercial bar refrigeration equipment market.
• Commercial sector industries are contributing to a high demand for the bar refrigeration equipment containing high-efficiency compressors to ensure reduced heat output, high utility and low maintenance costs for end-users and enhancement of efficiency.
• Growing demand for packaged food and beverages along extensive development of the hospitality sector has led to substantial market growth. Increasing preference of consumers to have food out and ongoing expansion of consumer goods retail sectors across the globe are competent enough to drive the market further. Due to the reduction in overall meat consumption in Europe and North America, as a result of environmental and sustainability facts, the global food industry is focusing more on seafood exports offering commercial refrigeration system manufacturers with ample growth opportunities to handle extra seafood.
• The market growth can also be propelled to increasing capital investments in the food industry and growth of food services business, in terms of production, distribution, and transportation.
• Growing number of hypermarkets, malls, specialty food stores, clubs and supermarkets across the globe are also foreseen to boost the market growth over the forecast period.
• Rising product demand across various sectors, such as hospitality, food service, and healthcare, is expected to fuel the segment growth in future. Increased revenue from hospital sectors over a considerable amount of time due to a rise in old or senior citizen generation and high need for medication and health care facilities has boosted the sales of ice and refrigeration equipment further.
• Increasing preferences of consumers for packaged, frozen foods and chilled beverages and high demand for organic and all-natural products will drive the market largely.
• Food production industry uses cold treatment to keep food fresh for long which is expected to boost product demand in the food & beverage production segment over the coming years.
• The rise in disposable income, coupled with the increasing impact of high-scale western lifestyle, has fuelled the acceptance of these equipments among the middle-class consumers of developing countries.
Challenges for the industry :
• Heavy tax is imposed on alcoholic beverages and drinks limiting their consumption, and thereby hampering the commercial bar refrigeration equipment market.
• High installation and maintenance cost along with reduction in the replacement rates for commercial refrigeration equipment will hamper the demand and growth of the market.
• Cold rooms are witnessing extensive demand but they involve great investment and maintenance costs as well, which might limit their demand thereby hampering the market.
Commercial Bar Refrigeration Equipment Market Regional Analysis
Commercial Bar Refrigeration Equipment Market Share and Competition
Key companies operating in this industry are: Ali Group, Continental Refrigerator, Turbo Air Inc., Valpro Commercial Refrigeration, ONNERA GROUP, and True Manufacturing Company, Inc.
Commercial Bar Refrigeration Equipment Market Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2020 – 2027)
• Data breakdown for every market segment (2020 – 2027)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Product Type Analysis (Revenue, USD Million, 2020 - 2027)
• Commercial Beer and Cocktail Dispensers
• Commercial Glass Chillers and Frosters
• Commercial Bottle and Wine Coolers
Region Analysis (Revenue, USD Million, 2020 - 2027)
• United States
• United Kingdom
• South Korea
• Middle East
• Rest of World
Commercial Bar Refrigeration Equipment Market Companies
• Ali Group
• Continental Refrigerator
• Turbo Air Inc.
• Valpro Commercial Refrigeration
• ONNERA GROUP
• True Manufacturing Company, Inc.
Available Versions: -
United States Commercial Bar Refrigeration Equipment Market Research Report
Europe Commercial Bar Refrigeration Equipment Market Research Report
Asia Pacific Commercial Bar Refrigeration Equipment Market Research Report
India Commercial Bar Refrigeration Equipment Market Research Report
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