The commercial refrigeration equipment market in Europe is projected to grow by USD 3.69 billion from 2022 to 2027, with a CAGR of 6.99% during the forecast period. The market is highly fragmented, with both international and regional vendors competing in the industry. One of the primary drivers of market growth is the increasing need to enhance the shelf life of food products. The shelf life of food depends on proper storage conditions, and inadequate temperatures can lead to degradation and losses for food service establishments. Key factors that affect the shelf life of food include preventing or limiting microbial growth, which can be achieved through processes such as refrigeration, lowering water activity, and adding preservatives. Therefore, commercial refrigeration equipment plays a vital role in preserving the nutritional and microbial quality of food, making it essential for the smooth functioning of food service establishments. The report provides an up-to-date analysis of the current market scenario, latest trends and drivers, and the overall market environment.
The market for commercial refrigeration equipment in Europe is fragmented, and competition is expected to intensify in the coming years. Competitors must differentiate their products by offering unique value propositions to establish a strong foothold in the market. Additionally, market vendors should leverage growth prospects in fast-growing segments while maintaining their positions in slow-growing segments. Some of the major market participants in Europe include AFE Group Ltd., ARNEG SPA, Carrier Global Corp., Daikin Industries Ltd., Electrolux AB, ENOFRIGO SPA, Epta Group, FRIGOGLASS SAIC, Haier Smart Home Co. Ltd., HOSHIZAKI Europe BV, Illinois Tool Works Inc., Infrico SL, Jongor Ltd., Liebherr International Deutschland GmbH, Scotsman Ice Srl, TEFCOLD AS, True Refrigeration UK Ltd., UAB FREOR LT, Viessmann Climate Solutions SE, and Ziegra Eismaschinen GmbH. These companies offer a range of commercial refrigeration equipment such as cabinets, counters, and medical racks.
Regular maintenance and service requirements are significant challenges hindering the market growth of commercial refrigeration equipment in Europe. While modern refrigeration systems are designed to be durable and reliable, regular maintenance and servicing are crucial for optimal performance, energy efficiency, and food safety. Components can wear out over time, and routine maintenance helps identify and address issues before they escalate, preventing equipment failure, disruptions to business operations, and food spoilage. However, the complex mechanisms of modern refrigeration systems require skilled technicians, which can be a growing challenge. This contributes to impediments in the market growth of commercial refrigeration equipment in Europe.
The retail segment is expected to witness significant growth in the commercial refrigeration equipment market in Europe. Retail establishments such as supermarkets and convenience stores have unique requirements for refrigeration solutions to preserve the quality, freshness, and safety of their perishable food and beverage products. Beverage coolers and bar refrigeration units are also commonly used in convenience stores, supermarkets, and hospitality establishments. Hence, the retail segment’s growth will drive the overall market growth in Europe.
In conclusion, the commercial refrigeration equipment market in Europe is poised for growth. The market is driven by the need to preserve food products and ensure their quality and safety. Market players should focus on differentiation and leverage growth prospects in various segments. However, regular maintenance and service requirements pose significant challenges to market growth. The retail segment is expected to contribute significantly to market growth. For more detailed insights and analysis, you can download the sample reports or subscribe to Technavio’s subscription platform.