Portland, OR, Sept. 29, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the Europe commercial refrigeration market generated $7.70 billion in 2019, and is estimated to generate $9.92 billion by 2028, witnessing a CAGR of 4.3% from 2021 to 2028. The report provides a detailed analysis of changing market dynamics, key segments, value chain, regional scenario, top investment pockets, and competitive landscape.
Increase in demand for refrigerated and frozen foods, surge in number of quick-service restaurants (QSR) and fast-food centers, and rise in cold storage infrastructures and services drive the growth of the Europe commercial refrigeration market. However, rise in concerns related to maintenance hinders the market growth. On the other hand, advancements in refrigeration technologies and their increasing adoption along with surge in demand for organic and fresh products present new opportunities in the next few years.
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Covid-19 Scenario:
- Manufacturing activities of various types of commercial refrigerators halted completely or partially due to lockdown measures implemented in many countries of Europe. Moreover, disruptions supply chain and shortage of raw materials posed various challenges in manufacturing.
- The demand from end users such as the food processing industry, quick service restaurants, and convenience stores reduced due to halt in day-to-day operations during the lockdown. However, the demand grew from end users such as hospitals and retail pharmacies.
- New installation and maintenance activities of commercial refrigerators have been postponed due to lockdown. However, these activities will be regulated during the post-lockdown.
The report offers detailed segmentation of the Europe commercial refrigeration market based on product, end user, and country.
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Based on product, the chest refrigerator segment accounted for the largest share in 2019, holding nearly one-fourth of the total share, and is projected to continue its leadership status during the forecast period. However, the commercial kitchen refrigerator segment is estimated to manifest the highest CAGR of 5.3% from 2021 to 2028.
Based on end user, the supermarket/hypermarket segment held the largest market share, contributing to nearly one-fourth of the Europe commercial refrigeration market in 2019, and is expected to maintain its dominance in terms of revenue during the forecast period. However, the hospitals segment is estimated to portray the fastest CAGR of 6.1% from 2021 to 2028.
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Based on country, the U.K. contributed to the highest share in 2019, accounting for nearly one-fifth of the total market, and is estimated to continue its lead position by 2028. However, Netherlands is expected to grow at the largest CAGR of 5.4% during the forecast period.
Leading players of the Europe commercial refrigeration market analyzed in the research include Bitzer GmbH, Freor Lt Uab, De Rigo Refrigeration S.r.l., INTARCON, TEXA Industries, Kelvion Phe GmbH, FRIGOBLOCK GmbH, SCM FRIGO S.P.A., Pfannenberg GmbH, and Walter Roller GmbH & Co.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
