Westford, USA, Aug. 29, 2022 (GLOBE NEWSWIRE) -- Commercial refrigeration equipment market is in high demand because it is essential for businesses to maintain safe and fresh food. In fact, according to the Food Safety and Inspection Service (FSIS), spoiled food contributes to about 21 million illnesses and 1,500 fatalities each year in the US alone. It is also commonly used in catering and restaurant businesses, as well as at food processing plants. Refrigeration companies are constantly expanding their product lines to include more advanced technologies, which means that there is always a need for new and innovative refrigeration equipment. For instance, Carrier business lines makes transport refrigeration equipment and cold chain tracking and monitoring solutions to keep items, including vaccines, cold as they make their way around the globe.
The commercial refrigeration equipment market has seen a steady increase in demand over the past few years, as businesses strive to improve their overall efficiency and reduce costs. This increase in demand has led to an increased need for commercial refrigeration equipment, which in turn has created a market for suppliers of these products. By using refrigerated trucks, warehouses, and other facilities, businesses can ensure that their food remains fresh and ensures that they are getting the most value for their money. In addition to saving money, end-users in global commercial refrigeration equipment market can also help meet their legal obligations (such as meeting food safety standards).
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Supermarket to Witness 132% Growth Until 2028
As the economy rebounds and more people are working again, supermarkets are stocking up on refrigeration units in order to keep their food chilled and fresh. Across the country, commercial refrigeration units are being installed in larger and smaller stores alike. According to a study by market research firm SkyQuest, commercial refrigeration equipment will be a hot commodity in the coming years. The study found that the global commercial refrigeration equipment market will grow at an annual rate of 5.1% throughout the forecast period. This is due in part to the increasing awareness of consumers about the importance of fresh food, as well as manufacturers’ focus on improving their quality control processes.
With respect to specific types of commercial refrigeration equipment, frozen food delivery systems will be the most popular product category in the supermarkets in the years to come. In fact, there will be a 132% growth in this type of equipment between now and then. This is likely due to the growth of online ordering and single-item delivery services, which increase demand for frozen foods.
Even though supermarkets account for a relatively small percentage of the global commercial refrigeration equipment market, they still rely on this type of machinery to maintain safe food temperatures. And, as technology advances and new models are released, super markets continually upgrade their refrigeration infrastructure to ensure that their products remain fresh and free from spoilage. In fact, this reliance on reliable refrigeration has helped to make supermarkets one of the primary consumers of commercial refrigerator transportation and storage equipment.
SkyQuest analysts said that other product categories that are expected to see significant growth include cooling towers (up 36%), general cooling systems (up 16%), and walk-in cool.
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Increasing Focus of Competitor on Launching Innovative Products
Global commercial refrigeration equipment market is constantly evolving in order to meet the needs of consumers. One major trend that has been growing in recent years is the use of innovative technological solutions in commercial refrigeration systems.
One such company is BlueStar Energy, which uses a unique cooling technology that circulates chilled water through a series of tubes specifically designed to reduce energy costs. This system has been found to be more efficient than traditional methods and helps make BlueStar one of the most innovative commercial refrigeration companies on the market.
Another player in the global commercial refrigeration equipment market is Arctic Cooling. The company manufactures a wide variety of cooling equipment, including commercial refrigerators, freezers, and air conditioning units. One of the company’s most popular products is its Arctic Freezer line of portable refrigerators. These units are designed for professional use, such as foodservice venues and retail stores.
One of the key features that sets the Arctic Freezer apart from other portable refrigerators is its ability to operate in extreme cold climates. This makes it perfect for restaurants that need to keep their food items chilled during warm weather months. Another key feature of the Arctic Freezer is its modular construction. This allows customers to customize their unit according to their specific needs.
SkyQuest has tracked all the innovative technology that are gaining grounds in the global commercial refrigeration equipment market.
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Daikin and Carrier are Highly Sought-After Brands in Global Commercial Refrigeration Equipment Market
Daikin has annual production of more than 1.5 million units, while Carrier has annual production of over 1.3 million units. These two companies account for a significant market share in commercial refrigeration equipment market.
As per SkyQuest analysis, businesses around globe are preferring these brands as they are known for high-quality equipment that lasts. It was found in our study that around 78% of surveyed consumers are preferring Daikin and Carrier as they both use heavy duty motors and quality seals to reduce component failure and keep the equipment running smoothly. Moreover, around 54% of consumers said their components are also resistant to chilling corrosion, so they can last in harsh environments.
Apart from this, the growth of Daikin and Carrier in the global commercial refrigeration equipment market is also attributed to a wide product portfolio and features, including automatic defrosting, climate control, up to 12 lb load capacity, and rear access for cleaner installation. This makes them the perfect choice for businesses of all sizes; whether you need a small unit for a single room or a large unit for an entire floor, Daikin and Carrier have you covered.
Prominent Players in Global Commercial Refrigeration Equipment Market
- Emerson Electric Co. (US)
- Carrier Corporation (US)
- Danfoss (Denmark)
- GEA Group Aktiengesellschaft (Germany)
- DAIKIN EUROPE GROUP (Belgium)
- Johnson Controls (Ireland)
- Nor-Lake, Inc. (US)
- The Middleby Corporation (US)
- Imbera (Mexico)
- Welbilt (US)
- AB Electrolux (Sweden)
- Ali Group S.r.l. (Italy)
- AHT Cooling Systems GmbH (Austria)
- Hillphoenix, A Dover Company (US)
- Excellence Industries (US)
- Illinois Tool Works Inc. (US)
- Lennox International Inc. (US)
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