Technavio, a leading provider of market research reports, has released its latest study on Commercial Refrigeration Equipment Market in Europe. This report offers a comprehensive analysis of the current market trends, emerging opportunities, and key challenges. The market for refrigerated food and beverage products is experiencing significant growth, driven primarily by the increasing number of product launches in this sector. Consumers are showing a growing preference for convenience and longer storage life in their food products. In response, food retailers and service providers are expanding their offerings to include refrigerated items with enhanced storage capabilities, aiming to minimize waste and boost profitability.
This rising demand has led to the introduction of new variants, such as gluten-free options. For instance, in September 2021, Iceland Foods launched its own branded frozen food products across its UK supermarkets. Similarly, in July 2020, Tyson Foods introduced a range of chicken products to the European food service industry, which includes eateries, cafeterias, and catering services. Such product innovations by industry players are expected to continue driving market growth throughout the forecast period.
The global commercial refrigeration equipment market in europe size is estimated to grow by USD 3.78 bn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 6.78% during the forecast period. Growing need to increase shelf life of food products is driving market growth, with a trend towards growing demand for energy-efficient models of commercial refrigeration equipment However, rising preference for pre-used and rented commercial refrigeration equipment poses a challenge. Some of the key industry leaders include AFE Group Ltd., ARNEG SPA, Carrier Global Corp., Daikin Industries Ltd., Electrolux group, ENOFRIGO SPA, Epta Group, Frigo DebtCo plc, Haier Smart Home Co. Ltd., HOSHIZAKI EUROPE BV, Illinois Tool Works Inc., Infrico SL, Jongor Ltd., Liebherr International AG, Scotsman Ice Srl, TEFCOLD AS, True Refrigeration UK Ltd., UAB FREOR LT, Viessmann Climate Solutions SE, and Ziegra Eismaschinen GmbH.
Know what is trending in the market - Access a free sample report!
Major Findings
The demand for extending the shelf life of food products is a key driver of market growth in Europe. Proper storage conditions are essential, as inadequate temperatures can lead to food degradation and losses for food service establishments.
Effective control of shelf life involves preventing or limiting microbial growth through methods such as refrigeration, reducing water activity, and adding preservatives. Refrigeration plays a critical role in preserving nutritional and microbial quality, making commercial refrigeration equipment vital for food service operations. These factors are anticipated to contribute significantly to market growth during the forecast period.
Regular maintenance and servicing are essential for ensuring the optimal performance, energy efficiency, and food safety of modern refrigeration systems. Despite their durability and reliability, these systems require ongoing upkeep to prevent equipment failure and food spoilage, particularly given their continuous operation under demanding conditions.
The complexity of modern refrigeration systems necessitates skilled technicians for effective diagnosis and repair. The need for specialized expertise and the potential for operational disruptions due to maintenance issues can pose challenges to market growth during the forecast period.
The Commercial Refrigeration Equipment Market in Europe is a significant segment of the larger global Electrical Components and Equipment Market. This market encompasses businesses involved in the production of electrical refrigeration equipment, including commercial refrigerators, freezers, and related accessories. According to Technavio's market analysis, the Electrical Components and Equipment Market size is determined by the consolidated revenue generated from manufacturers of various electrical products such as water heaters, motors, automation solutions, electrical distribution and protection equipment, HVAC, and safety components. Furthermore, rental and leasing of electrical components and equipment to industrial, commercial, and residential sectors are also taken into account when estimating the market size.
The Commercial Refrigeration Equipment Market in Europe is experiencing significant growth, fueled by the Growing need to increase shelf life of food products. Businesses are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
For insights on company offerings- Request a sample report!
The European Commercial Refrigeration Equipment Market represents a significant business opportunity, driven by the increasing demand for temperature-controlled solutions in various industries. Factors such as stringent food safety regulations and the growing trend towards sustainable refrigeration systems are expected to fuel market growth. The market is projected to expand at a steady CAGR during the forecast period.
The Commercial Refrigeration Equipment Market in Europe is a significant sector, encompassing various types of equipment such as Refrigerated Display Cases, Transport Refrigeration, Refrigerators, Freezers, Ice-making Machines, and Vending Machines. These equipments find extensive applications in Retail Stores, Supermarkets, Hypermarkets, Hotels, Restaurants, and Food Processing Industries, particularly in the Food & Beverages sector. Refrigeration systems use refrigerants like Hydrochlorofluorocarbons (HCFCs) and Hydrofluorocarbons (HFCs), which are ozone-depleting substances. However, the industry is transitioning towards natural refrigerant-based systems to mitigate environmental concerns. Key components of Commercial Refrigeration Equipment include Compressors, Condensers, Remote Condensing Units, Self-Contained Units, and various other parts. The market is witnessing a shift towards energy-efficient and eco-friendly solutions. The Food Quality and Food Processing Industries, including Chemicals & Pharmaceuticals, heavily rely on Commercial Refrigeration Equipment for preserving and storing temperature-sensitive products. The demand for these equipments is expected to remain strong due to the growing need for efficient and sustainable cooling solutions. In conclusion, the Commercial Refrigeration Equipment Market in Europe is a dynamic and evolving sector, driven by the growing demand for temperature-controlled storage and transportation solutions in various industries. The market is expected to grow, with a focus on energy efficiency, sustainability, and the adoption of natural refrigerants.
Technavio is a global market research company offering comprehensive reports and insights on various industries. Our research helps businesses make informed decisions by providing actionable data and trends. Technavio is based on four simple principles: easy-to-access reports, robust industry coverage, a focus on new and emerging technologies, and competitive pricing. We believe in helping companies and executives become better equipped to make faster, sounder, and more effective decisions. Technavio is one of the most influential market research and advisory firms in the world. We work with business and technology leaders to provide cutting-edge market research and insights to companies.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
