Published Date : Apr 22, 2016
Commercial refrigerators are free standing equipment that help the storage of food and beverages for commercial kitchens and dining facilities. After the end of the European debt crisis and the economic slump, there has been a revival of the commercial refrigeration equipment market as more and more outlets, stores, hotels, and cafes are launched. According to a report published by Transparency Market Research, the European commercial refrigeration equipment market which was valued at US$7,745.0 mn in 2012 is expected to be worth US$11,597.2 mn by 2019, expanding at a CAGR of 4.2% between 2013 and 2019.
Solar Powered Commercial Refrigeration Systems (CRS) Opens Up New Avenues For Exploration
The growing focus on environmental regulations has led to the development of solar-powered commercial refrigeration systems. These solar-powered commercial refrigerators have opened many growth opportunities in terms of innovation and advanced use of technology for the development of similar other advantageous commercial refrigeration systems. Remote-monitored commercial refrigeration equipment is another innovative product that will shape up the industry in the coming years. With benefits such as ability to detect high pressure, check liquid levels and check leaks, remote-monitored commercial refrigeration equipment will be in demand.
Growing Seafood Exports Boosts Commercial Refrigeration Equipment Market
The commercial refrigeration equipment market is driven by the increase in the trade of frozen food items. The demand for seafood and consequently the rise in seafood exports has led to a growth in the commercial refrigeration equipment market. Furthermore, the commercial refrigeration equipment market is boosted by the rising trade of international food and horticulture.
Food and Beverage Retail Segment to Have the Highest Demand
On the basis of application, the commercial refrigeration equipment market is segmented into food service, food and beverage distribution, food and beverage retail, and food and beverage production. Out of these, the food and beverage retail segment is anticipated to dominate in terms of demand during the period from 2013 to 2019.