Future Market Insights
Rapid Growth of food & beverages industry coupled with the rising number of warehouse and logistics are accelerating the global walk in cooler & freezer market during the forecast period. Furthermore, rapid industrialization, particularly in developing nations, and significant emphasis on energy conservation has led to noteworthy advancement in the global walk in cooler & freezer market. Walk in cooler & freezer system are a type of commercial refrigeration equipment used at food & beverage retail outlets such as bakery, dairy, grocery store, wine shops, etc., convenience stores, supermarkets and food service providers such as hotels, restaurants, cafes etc. and warehouses for bulk storage. Demand for walk in cooler & freezer in commercial sectors is rising owning to grow the economy, higher per capita income, increase consumption of beverage, food, urbanization and other such factors that are increasing being a witness in countries such as U.S. in North America region. Increasing cost of conventional energy is forcing manufacturers to look out for cost-effective and energy-efficient solutions refrigeration of the commercial and residential sector. The future outlook for the walk in cooler & freezer market is anticipated to remain positive & the market is expected to witness with high CAGR growth over the span of the forecast period.
Walk in Cooler & Freezer Market: Dynamics:
The growth of the global walk in cooler & freezer market is primarily driven by factors such as the hasty evolution of retail sector, rising number of warehouses and logistics and other cold supply chain facilities to suffice the growing demand of frozen and chilled eatables and product requiring controlled temperature.
It is anticipated that High initial cost and prevailing local product may hamper the global walk in cooler & freezer market in the forecast period.
Various governments and non-governmental organizations offer rebates to manufacturers of walk in cooler & freezer refrigeration systems for energy-efficient products and services. Such as ENERGY STAR, a U.S. Environmental Protection Agency (EPA) voluntary programed, offers businesses and individual’s rebates and also helps in protecting the environment by specifying superior energy-efficient norms. Seasoned markets for the global walk in cooler & freezer market have high demand for technologically advanced and more energy efficient products. Presently supermarket and convenience stores collectively holds over 60% share in the annual retail sales in regions such as North America and Western Europe. Prominence of supermarket, hypermarkets and convenience stores in these regions, which demand large space, proper utilization of space and at the same time maintaining the interior environment of the space has made these firms to use refrigeration system with remotely located condensers, so as there is no heat dissipation in the store interior and at the same time also provides more storage space.
Walk in Cooler & Freezer Market: Segmentation:
The global walk-in cooler & freezer market can be segmented by Refrigerant type:
The global walk-in cooler & freezer market can be segmented by Application:
Chemicals and Pharmaceuticals
Logistics (storage -warehouses)
The global walk-in cooler & freezer market can be segmented on the basis of Product Type:
Indoor Walk-in Coolers & Freezers
Outdoor Walk-in Coolers & Freezers
The global walk-in cooler & freezer market can be segmented on the basis of Operation:
Remote Operated Unit
The global walk-in cooler & freezer market can be segmented on the basis of sales channel:
Walk in Cooler & Freezer Market: Key Participants:
The key participants of walk in cooler & freezer market are following
TMP Manufacturing Company, Inc.
American Panel Corporation
Carolina Cooler, LLC
BMIL Technologies, LLC
Johnson Controls, Inc.
Emerson Electric Co.
United Technologies Corporation
Panasonic Corporation (Hussmann Corporation)
Parker Hannifin Corp
Walk in Cooler & Freezer Market: Region-wise Outlook:
North America is expected to maintain a hefty market share over the forecast period. It is expected that Asia-Pacific is a fast growing market owning to high demand for refrigeration system in the commercial sector. Hence, Asia-Pacific is projected to be witness relatively high growth in the global walk in cooler & freezer market during the forecast period. Furthermore, small and medium sized food processing industries and refrigerated warehouses have started ensuing F-gas regulations recently, owning to increasing international burden for adoption of the Montreal Protocol in Asia-Pacific. Moreover, Latin America and Europe are also projected to show temperate growth in this market over the forecast period.
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