Report Code: CMI57382

Published Date: September 2024

Pages: 320+

Category: Semiconductors & Electronics

Reports Description

The CMI Team’s most recent market research predicts that from 2024 to 2033, the Europe Commercial Refrigeration Equipment Market will grow at a CAGR of 7.89%. In 2024, the market size is projected to reach a valuation of USD 12.63 Billion. By 2033, the valuation is anticipated to reach USD 25.02 Billion.

Commercial refrigeration equipment is mainly used if not at residential places, in other commercial areas, particularly the retail and food service industries, to store or expose food. A transition from purchasing products at full-service supermarkets to smaller convenience shops is, therefore, opening up market demand for more RDCs.

Moreover, there is a growing demand for large cold storage due to the advancement in online market sales. RDCs are generally built locally because of their size, regional specifications, and delivery requirements. New energy-efficient designs, advanced control technologies, and environment-friendly refrigerants qualify the commercial refrigeration equipment market to sustain future growth rates regardless of economic fluctuations.

Europe Commercial Refrigeration Equipment Market – Significant Growth Factors

The Europe Commercial Refrigeration Equipment market presents significant growth opportunities due to several factors:

  • Increased Consumer Need for Convenience: Modern-day lifestyles increase the need for more conveniently offered refrigeration options. Such commercial refrigeration equipment units strategically located in supermarkets, restaurants, convenience stores, etc., provide consumers and businesses with quick and easily accessible cooling and storage options that guarantee freshness and food safety standards.
  • Growing Popularity of Fresh and Ready-to-Eat Food: People are becoming more interested in fresh and ready-to-eat food due to their desire for convenient and healthy food. The demand for fresh food and quick preparation is rising; in particular, people of the millennial and Gen Z age groups want fresh food with minimal time taken for preparation. Commercial refrigeration equipment is widely used to maintain fresh and safe conditions for such products.
  • Urbanisation and Infrastructure Development: As cities worldwide experience rapid urbanization and infrastructure development, commercial refrigeration equipment units have more opportunities to serve busy city dwellers and businesses that require efficient and reliable cooling solutions. For example, supermarkets, convenience stores, and food service establishments need the most efficient high-performance refrigeration systems to fulfil the needs of urban populations.
  • Cost-Effectiveness: Commercial refrigeration equipment units are cost-effective only when the intake of spoiled or waste products is reduced to zero and perishable goods are ensured to last longer and stay fresh. Advanced investment may bring fantastic returns to any business venture, regardless of size.
  • Increasing social media and Digital Marketing: Social media has become essential in assisting businesses with commercial refrigeration equipment. Companies can link themselves to their customers, increase brand awareness, and sell products through channels such as Instagram, Facebook, and Twitter. Companies can build a devoted clientele by promoting the image of fresh produce, ready-to-eat meals, and other products kept in the refrigerator.
  • Growing Demand for Themed Refrigeration Solutions: The demand for themed refrigeration solutions, such as eco-friendly and energy-efficient units, will cater to niche markets while providing operators with a unique opportunity to give distinctive and memorable experiences. This is in response to customer concerns about the need for sustainable and ecologically friendly designs.

Europe Commercial Refrigeration Equipment Market – Launches

The Commercial refrigeration equipment market has seen several launches in recent years, with companies seeking to expand their market presence and leverage synergies to improve their product offerings and profitability. Some notable examples of product launches in the commercial refrigeration equipment market include:

  • In June 2024, Mitsubishi Heavy Industries Thermal Systems, Ltd. launched sales of the TEK series of compact electric-driven transport refrigeration units for small and mid-size trucks. The company’s European sales arm, based in Osnabruck, Germany, oversees sales. In addition to the compact size, the TEK series offers enhanced cooling/heating capacity, enabling expansion from the TE20/30 series’ mountable range to include small and mid-size trucks. The TE20/30 series has received two notable awards: the “Agency for Natural Resources and Energy Commissioner’s Award (Transportation Field)” in 2019 and the “Technology Award” from the Japan Society of Refrigerating and Air Conditioning Engineers (JSRAE) in 2021.
  • In March 2024, Panasonic Corporation announced that its Heating & Ventilation A/C Company (HVAC) would release three new models of commercial air-to-water (A2W) heat pumps using environmentally friendly natural refrigerants for multi-dwelling units, stores, offices, and other light-commercial-properties-in September 2024. They employ compact designs at the industry’s highest level and join the lineup of models for stand-alone homes to serve a wider range of customer needs.
  • In August 2022, Embraco, a global provider of refrigeration technology for the complete residential and commercial cold chain and part of Nidec Global Appliance’s portfolio of brands, announced a new range of indoor R290 condensing units for Europe, especially for food service applications such as under-counters, blast chillers, cold rooms, and reach-ins. The lineup will be one of the products highlighted at Chillventa.

These product launches helped companies expand their product offerings, improve their market presence, and capitalize on growth opportunities in the Commercial refrigeration equipment market. The trend is expected to continue as companies seek a competitive edge.

COMPARATIVE ANALYSIS OF THE RELATED MARKET

Europe Commercial Refrigeration Equipment Market Silicon Carbide Semiconductor Market Integrated Microwave Assembly Market
CAGR 7.89% (Approx) CAGR 18.5% (Approx) CAGR 6.7% (Approx)
USD 25.02 Billion by 2033 USD 11,783.1 Million by 2033 USD 4.6 Billion by 2033

Europe Commercial Refrigeration Equipment Market – Significant Threats

The European commercial refrigeration equipment market faces several significant threats that could impact its growth and profitability in the future. Some of these threats include:

  • Growing Online Food Delivery Services: One of the main changes in consumer purchasing patterns brought about by online food delivery platforms is the preference for online delivery over offline shopping or dining. This change could restrict foot traffic in places that directly benefit from operating commercial refrigeration equipment.
  • Higher Competition from Other Players: Companies relying on commercial refrigeration equipment must now compete with direct rivals, and an increasing number of restaurants and grocery stores are entering affiliations with delivery service providers. Thus, conventional retail and food service companies and firms face increased competition in attracting shoppers and customers.
  • Seasonal and Weather Dependency: Extreme weather conditions and seasons most of the time impact operations involving commercial refrigeration equipment. For example, ice cream sellers and other such outlets might record high sales in summer and record low sales in the cold seasons due to a change in climate.
  • Limited Operating Hours and Locations: Local laws may restrict the operating hours of establishments that use commercial refrigeration equipment or pose transportation problems. Restrictions on the availability of good sites with a large concentration of consumers can also restrain these businesses’ revenues.
  • Limited Access to Financing: A major problem faced by firms in this industry is obtaining the necessary funding and capital for a venture through loans or bank guarantees. The nature of these kinds of businesses may be considered by banks and other lenders as highly risky, so businesses may encounter major issues of where to get finances through loans or lines of credit.
  • Health Concerns and Food Safety Perceptions: Some consumers may perceive these businesses as less hygienic despite stringent health and safety regulations. Poor perceptions regarding the respective production processes can have a negative impact and discourage potential buyers. Additionally, business with regard to hygiene can be brought into question.

Category-Wise Insights

By Product Type:

  • Refrigerators and Freezers: These are the workhorses of commercial kitchens and food storage, available in various sizes and configurations to meet specific needs. (Ex: Walk-in coolers for bulk food storage, reach-in refrigerators for prep areas)
  • Refrigerated Display Cases: Designed to showcase and maintain the freshness of chilled food and beverages for customer selection. Different types cater to specific products like meat, bakery items, or deli foods. (Ex: Open multi-deck display cases for supermarkets, vertical glass-door freezers for ice cream)
  • Beverage Refrigeration: Specialized equipment for storing, chilling, and dispensing beverages, including coolers, under-counter units, and beer dispensers. (Ex: Reach-in bottle coolers for convenience stores, keg coolers for bars)
  • Ice Machines: Produce and dispense ice in various forms for food service applications and customer consumption. (Ex, Flake ice machines for restaurants, under-counter ice cube makers for hotels)
  • Others: This category includes various specialized equipment like food prep counters, salad prep refrigerators, and bakery display cases. (Ex: Sushi display cases with built-in refrigeration)

By Application:

  • Food Service: Restaurants, cafes, hotels, and catering companies rely heavily on commercial refrigeration equipment to store ingredients, prepare food, and keep finished dishes chilled.
  • Food and Beverage Retail: Supermarkets, hypermarkets, and convenience stores require various equipment to display and preserve chilled and frozen goods for customer purchase.
  • Healthcare: Hospitals, clinics, and laboratories use commercial refrigerators and freezers for storing vaccines, medications, and other temperature-sensitive medical supplies.
  • Hotels and Hospitality: Hotels utilize commercial refrigeration equipment for back-of-house food storage, in-room mini-fridges, and beverage dispensing in bars and restaurants.
  • Other Applications: include florists using refrigerated display cases for flowers, convenience stores needing ice cream freezers, and laboratories requiring specialized units.

By Capacity:

  • Small Capacity: Compact refrigerators and freezers for smaller spaces, often found in convenience stores, cafes, or hotel rooms.
  • Medium Capacity: Commonly used equipment for restaurants, food prep areas, and back-of-house storage in supermarkets.
  • Large Capacity: High-volume walk-in coolers and freezers for bulk storage in warehouses, supermarkets, and food processing facilities.

By Technology:

  • Self-contained Refrigeration Units: Standalone units with integrated compressors and condensers, ideal for smaller spaces or simple applications. (Ex: Undercounter beverage coolers)
  • Remote Condensing Units: Refrigeration systems where the condenser unit is located remotely, typically outdoors, for quieter operation and better heat dissipation in larger installations. (Ex: Walk-in coolers with rooftop condensers)
  • Smart Refrigeration: Emerging technology incorporating features like remote monitoring, temperature control adjustments through apps, and energy-saving functionalities. (Ex: Wi-Fi connected refrigerators with real-time temperature alerts)

Report Scope

Feature of the Report Details
Market Size in 2024 USD 12.63 Billion
Projected Market Size in 2033 USD 25.02 Billion
Market Size in 2023 USD 11.23 Billion
CAGR Growth Rate 7.89% CAGR
Base Year 2023
Forecast Period 2024-2033
Key Segment By Product Type, Application, Capacity, Technology and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope Europe
Buying Options Request tailored purchasing options to fulfil your research requirements.

European Commercial Refrigeration Equipment Market: Country Analysis

The European commercial refrigeration equipment market varies across regions, including Germany, the U.K., France, Italy, Spain, and the Rest of Europe. Here’s a brief overview of each region:

  • Germany: Germany, being the land of the bearded, is very popular for outdoor activities and thus has a very developed network of perfect campsites and caravan places. The country is experiencing a growing trend towards environmentally friendly tourism and travel. New trends have emerged and are more focused on luxury camping, sometimes referred to as glamping, and the use of smart technology in camp-equipped structures. Furthermore, there is an emphasis on cultural and historical attractions and, consequently, a promotion of regional and local tourism in the form of themed camping experiences.
  • UK.: The tradition of camping and caravanning holidays in the U.K. can be traced back to time, and the coastline can vary from cliff faces to mountains, forests, and moors. There is more patriotism, with people looking forward to staycations and domestic tourism than before. Interestingly, the trends are improving camping for families, improving the online booking system, and opening of interactive approaches. It also encourages historical and cultural camping experiences for tourists in the U.K.
  • France: Like many European countries, France has a host of camp grounds and rural camping sites, which make it a perfect place for tourism, especially mountain biking and hiking. The climatic conditions are friendly to outdoor tourism, and equal emphasis has been placed on deploying environmentally friendly policies. The country is further developing motorhome access and encouraging wine and gourmet camping.
  • Italy: Italy has cultural tourism, and fabulous landscapes are helping boost the demand for adrenalin-driven, outdoor holidays. There is high demand for camper vans, and RVs for travel have become more frequent. Tremendous investment is being made now towards establishing camping sites around the historical and natural Conservation Areas, introducing and enhancing Culinary & Agritourism experiences, and ease of visit by foreign tourists.
  • Spain: Spain has favorable camping conditions, such as a Mediterranean climate and a great variety of terrains; its culture and history are also big advantages for this type of tourism. Coastal / beach side camping as type is also experiencing a surge in popularity. Spain is improving camping sites along its coastline and islands, raising health and nature-oriented tourism, and developing opportunities for people interested in outdoor activities.
  • Rest of Europe (including the Netherlands, Switzerland, Austria): This region features varied landscapes and numerous outdoor recreation opportunities. There is a strong focus on sustainable tourism practices and technology integration in camping amenities. Developing cross-border camping itineraries, promoting regional specialties and local tourism, and investing in eco-friendly and off-grid camping experiences are key trends in this region.

Competitive Landscape: Europe Commercial Refrigeration Equipment Market

The Europe Commercial Refrigeration Equipment market is highly competitive, with many manufacturers and retailers operating across Europe. Some of the key players in the market include:

  • Carrier Corporation
  • Danfoss
  • Emerson Electric Co.
  • GEA Group AG
  • Hussmann Corporation (Panasonic)
  • Ingersoll Rand (Trane Technologies)
  • Johnson Controls International
  • Liebherr Group
  • Mitsubishi Electric Corporation
  • Mueller Industries Inc.
  • NIBE Industrier AB
  • Schott AG
  • Thermo King (Trane Technologies)
  • True Manufacturing Co. Inc.
  • AHT Cooling Systems GmbH
  • Epta S.p.A.
  • Viessmann Group
  • Zanotti S.p.A. (Daikin Industries)
  • ISA S.p.A.
  • Foster Refrigerator (ITW)
  • Others

These companies operate in the market through various strategies such as product innovation, mergers and acquisitions, and partnerships.

New players entering the Commercial refrigeration equipment market are adopting innovation and development to differentiate themselves and gain traction. These players often focus on various technology adoptions, customization, and the adoption of more sustainable and eco-friendly practices.

Commercial refrigeration equipment operators leverage technology to streamline operations, enhance customer engagement, and expand their reach. These players often focus on developing advanced products, customization, targeting emerging markets, establishing competitive pricing, and higher focus on marketing and branding activities.

The Europe Commercial Refrigeration Equipment Market is segmented as follows:

By Product Type

  • Refrigerators and Freezers
  • Refrigerated Display Cases
  • Beverage Refrigeration
  • Ice Machines
  • Others

By Application

  • Food Service
  • Food and Beverage Retail
  • Healthcare
  • Hotels and Hospitality
  • Other

By Capacity

  • Small Capacity
  • Medium Capacity
  • Large Capacity

By Technology

  • Self-contained Refrigeration Units
  • Remote Condensing Units
  • Smart Refrigeration 

Regional Coverage:

Europe

  • Germany
  • France
  • U.K.
  • Russia
  • Italy
  • Spain
  • Netherlands
  • Rest of Europe

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market Research Methodology
  • Chapter 2. Executive Summary
    • 2.1 Europe Commercial Refrigeration Equipment Market (2024 – 2033) (USD Billion)
    • 2.2 Europe Commercial Refrigeration Equipment Market: snapshot
  • Chapter 3. Europe Commercial Refrigeration Equipment Market – Industry Analysis
    • 3.1 Europe Commercial Refrigeration Equipment Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Increased Consumer Need for Convenience
      • 3.2.2 Growing Demand for Fresh and Ready-to-Eat Food
      • 3.2.3 Urbanisation and Infrastructure Development
      • 3.2.4 Cost-Effectiveness
      • 3.2.5 Increasing Social Media and Digital Marketing
      • 3.2.6 Growing Demand for Themed Refrigeration Solutions.
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market Attractiveness Analysis By Product Type
      • 3.7.2 Market Attractiveness Analysis By Application
      • 3.7.3 Market Attractiveness Analysis By Capacity
      • 3.7.4 Market Attractiveness Analysis By Technology
  • Chapter 4. Europe Commercial Refrigeration Equipment Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Europe Commercial Refrigeration Equipment Market: company market share, 2023
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, collaboration, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Europe Commercial Refrigeration Equipment Market: Product Type Analysis
    • 5.1 Europe Commercial Refrigeration Equipment Market Overview: By Product Type
      • 5.1.1 Europe Commercial Refrigeration Equipment Market Share, By Product Type, 2023 and 2033
    • 5.2 Refrigerators and Freezers
      • 5.2.1 Europe Commercial Refrigeration Equipment Market by Refrigerators and Freezers, 2024 – 2033 (USD Billion)
    • 5.3 Refrigerated Display Cases
      • 5.3.1 Europe Commercial Refrigeration Equipment Market by Refrigerated Display Cases, 2024 – 2033 (USD Billion)
    • 5.4 Beverage Refrigeration
      • 5.4.1 Europe Commercial Refrigeration Equipment Market by Beverage Refrigeration, 2024 – 2033 (USD Billion)
    • 5.5 Ice Machines
      • 5.5.1 Europe Commercial Refrigeration Equipment Market by Ice Machines, 2024 – 2033 (USD Billion)
    • 5.6 Others
      • 5.6.1 Europe Commercial Refrigeration Equipment Market by Others, 2024 – 2033 (USD Billion)
  • Chapter 6. Europe Commercial Refrigeration Equipment Market: Application Analysis
    • 6.1 Europe Commercial Refrigeration Equipment Market Overview: By Application
      • 6.1.1 Europe Commercial Refrigeration Equipment Market Share, By Application, 2023 and 2033
    • 6.2 Food Service
      • 6.2.1 Europe Commercial Refrigeration Equipment Market by Food Service, 2024 – 2033 (USD Billion)
    • 6.3 Food and Beverage Retail
      • 6.3.1 Europe Commercial Refrigeration Equipment Market by Food and Beverage Retail, 2024 – 2033 (USD Billion)
    • 6.4 Healthcare
      • 6.4.1 Europe Commercial Refrigeration Equipment Market by Healthcare, 2024 – 2033 (USD Billion)
    • 6.5 Hotels and Hospitality
      • 6.5.1 Europe Commercial Refrigeration Equipment Market by Hotels and Hospitality, 2024 – 2033 (USD Billion)
    • 6.6 Other
      • 6.6.1 Europe Commercial Refrigeration Equipment Market by Other, 2024 – 2033 (USD Billion)
  • Chapter 7. Europe Commercial Refrigeration Equipment Market: Capacity Analysis
    • 7.1 Europe Commercial Refrigeration Equipment Market Overview: By Capacity
      • 7.1.1 Europe Commercial Refrigeration Equipment Market Share, By Capacity, 2023 and 2033
    • 7.2 Small Capacity
      • 7.2.1 Europe Commercial Refrigeration Equipment Market by Small Capacity, 2024 – 2033 (USD Billion)
    • 7.3 Medium Capacity
      • 7.3.1 Europe Commercial Refrigeration Equipment Market by Medium Capacity, 2024 – 2033 (USD Billion)
    • 7.4 Large Capacity
      • 7.4.1 Europe Commercial Refrigeration Equipment Market by Large Capacity, 2024 – 2033 (USD Billion)
  • Chapter 8. Europe Commercial Refrigeration Equipment Market: Technology Analysis
    • 8.1 Europe Commercial Refrigeration Equipment Market Overview: By Technology
      • 8.1.1 Europe Commercial Refrigeration Equipment Market Share, By Technology, 2023 and 2033
    • 8.2 Self-contained Refrigeration Units
      • 8.2.1 Europe Commercial Refrigeration Equipment Market by Self-contained Refrigeration Units, 2024 – 2033 (USD Billion)
    • 8.3 Remote Condensing Units
      • 8.3.1 Europe Commercial Refrigeration Equipment Market by Remote Condensing Units, 2024 – 2033 (USD Billion)
    • 8.4 Smart Refrigeration
      • 8.4.1 Europe Commercial Refrigeration Equipment Market by Smart Refrigeration, 2024 – 2033 (USD Billion)
  • Chapter 9. Europe Commercial Refrigeration Equipment Market – Regional Analysis
    • 9.1 Europe Commercial Refrigeration Equipment Market Regional Overview
    • 9.2 Europe Commercial Refrigeration Equipment Market Share, by Region, 2023 & 2033 (USD Billion)
    • 9.3. Europe
      • 9.3.1 Europe Europe Commercial Refrigeration Equipment Market, 2024 – 2033 (USD Billion)
        • 9.3.1.1 Europe Europe Commercial Refrigeration Equipment Market, by Country, 2024 – 2033 (USD Billion)
    • 9.4 Europe Europe Commercial Refrigeration Equipment Market, by Product Type, 2024 – 2033
      • 9.4.1 Europe Europe Commercial Refrigeration Equipment Market, by Product Type, 2024 – 2033 (USD Billion)
    • 9.5 Europe Europe Commercial Refrigeration Equipment Market, by Application, 2024 – 2033
      • 9.5.1 Europe Europe Commercial Refrigeration Equipment Market, by Application, 2024 – 2033 (USD Billion)
    • 9.6 Europe Europe Commercial Refrigeration Equipment Market, by Capacity, 2024 – 2033
      • 9.6.1 Europe Europe Commercial Refrigeration Equipment Market, by Capacity, 2024 – 2033 (USD Billion)
    • 9.7 Europe Europe Commercial Refrigeration Equipment Market, by Technology, 2024 – 2033
      • 9.7.1 Europe Europe Commercial Refrigeration Equipment Market, by Technology, 2024 – 2033 (USD Billion)
  • Chapter 10. Company Profiles
    • 10.1 Carrier Corporation
      • 10.1.1 Overview
      • 10.1.2 Financials
      • 10.1.3 Product Portfolio
      • 10.1.4 Business Strategy
      • 10.1.5 Recent Developments
    • 10.2 Danfoss
      • 10.2.1 Overview
      • 10.2.2 Financials
      • 10.2.3 Product Portfolio
      • 10.2.4 Business Strategy
      • 10.2.5 Recent Developments
    • 10.3 Emerson Electric Co.
      • 10.3.1 Overview
      • 10.3.2 Financials
      • 10.3.3 Product Portfolio
      • 10.3.4 Business Strategy
      • 10.3.5 Recent Developments
    • 10.4 GEA Group AG
      • 10.4.1 Overview
      • 10.4.2 Financials
      • 10.4.3 Product Portfolio
      • 10.4.4 Business Strategy
      • 10.4.5 Recent Developments
    • 10.5 Hussmann Corporation (Panasonic)
      • 10.5.1 Overview
      • 10.5.2 Financials
      • 10.5.3 Product Portfolio
      • 10.5.4 Business Strategy
      • 10.5.5 Recent Developments
    • 10.6 Ingersoll Rand (Trane Technologies)
      • 10.6.1 Overview
      • 10.6.2 Financials
      • 10.6.3 Product Portfolio
      • 10.6.4 Business Strategy
      • 10.6.5 Recent Developments
    • 10.7 Johnson Controls International
      • 10.7.1 Overview
      • 10.7.2 Financials
      • 10.7.3 Product Portfolio
      • 10.7.4 Business Strategy
      • 10.7.5 Recent Developments
    • 10.8 Liebherr Group
      • 10.8.1 Overview
      • 10.8.2 Financials
      • 10.8.3 Product Portfolio
      • 10.8.4 Business Strategy
      • 10.8.5 Recent Developments
    • 10.9 Mitsubishi Electric Corporation
      • 10.9.1 Overview
      • 10.9.2 Financials
      • 10.9.3 Product Portfolio
      • 10.9.4 Business Strategy
      • 10.9.5 Recent Developments
    • 10.10 Mueller Industries Inc.
      • 10.10.1 Overview
      • 10.10.2 Financials
      • 10.10.3 Product Portfolio
      • 10.10.4 Business Strategy
      • 10.10.5 Recent Developments
    • 10.11 NIBE Industrier AB
      • 10.11.1 Overview
      • 10.11.2 Financials
      • 10.11.3 Product Portfolio
      • 10.11.4 Business Strategy
      • 10.11.5 Recent Developments
    • 10.12 Schott AG
      • 10.12.1 Overview
      • 10.12.2 Financials
      • 10.12.3 Product Portfolio
      • 10.12.4 Business Strategy
      • 10.12.5 Recent Developments
    • 10.13 Thermo King (Trane Technologies)
      • 10.13.1 Overview
      • 10.13.2 Financials
      • 10.13.3 Product Portfolio
      • 10.13.4 Business Strategy
      • 10.13.5 Recent Developments
    • 10.14 True Manufacturing Co. Inc.
      • 10.14.1 Overview
      • 10.14.2 Financials
      • 10.14.3 Product Portfolio
      • 10.14.4 Business Strategy
      • 10.14.5 Recent Developments
    • 10.15 AHT Cooling Systems GmbH
      • 10.15.1 Overview
      • 10.15.2 Financials
      • 10.15.3 Product Portfolio
      • 10.15.4 Business Strategy
      • 10.15.5 Recent Developments
    • 10.16 Epta S.p.A.
      • 10.16.1 Overview
      • 10.16.2 Financials
      • 10.16.3 Product Portfolio
      • 10.16.4 Business Strategy
      • 10.16.5 Recent Developments
    • 10.17 Viessmann Group
      • 10.17.1 Overview
      • 10.17.2 Financials
      • 10.17.3 Product Portfolio
      • 10.17.4 Business Strategy
      • 10.17.5 Recent Developments
    • 10.18 Zanotti S.p.A. (Daikin Industries)
      • 10.18.1 Overview
      • 10.18.2 Financials
      • 10.18.3 Product Portfolio
      • 10.18.4 Business Strategy
      • 10.18.5 Recent Developments
    • 10.19 ISA S.p.A.
      • 10.19.1 Overview
      • 10.19.2 Financials
      • 10.19.3 Product Portfolio
      • 10.19.4 Business Strategy
      • 10.19.5 Recent Developments
    • 10.20 Foster Refrigerator (ITW)
      • 10.20.1 Overview
      • 10.20.2 Financials
      • 10.20.3 Product Portfolio
      • 10.20.4 Business Strategy
      • 10.20.5 Recent Developments
    • 10.21 Others.
      • 10.21.1 Overview
      • 10.21.2 Financials
      • 10.21.3 Product Portfolio
      • 10.21.4 Business Strategy
      • 10.21.5 Recent Developments
List Of Figures

Figures No 1 to 30

List Of Tables

Tables No 1 to 6

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2033

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2033
  • Market revenue estimates and forecasts up to 2033, by technology
  • Market revenue estimates and forecasts up to 2033, by application
  • Market revenue estimates and forecasts up to 2033, by type
  • Market revenue estimates and forecasts up to 2033, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Prominent Player

  • Carrier Corporation
  • Danfoss
  • Emerson Electric Co.
  • GEA Group AG
  • Hussmann Corporation (Panasonic)
  • Ingersoll Rand (Trane Technologies)
  • Johnson Controls International
  • Liebherr Group
  • Mitsubishi Electric Corporation
  • Mueller Industries Inc.
  • NIBE Industrier AB
  • Schott AG
  • Thermo King (Trane Technologies)
  • True Manufacturing Co. Inc.
  • AHT Cooling Systems GmbH
  • Epta S.p.A.
  • Viessmann Group
  • Zanotti S.p.A. (Daikin Industries)
  • ISA S.p.A.
  • Foster Refrigerator (ITW)
  • Others

FAQs

The key factors driving the Market are Increased Consumer Need for Convenience, Growing Demand for Fresh and Ready-to-Eat Food, Urbanisation and Infrastructure Development, Cost-Effectiveness, Increasing social media and Digital Marketing, Growing Demand for Themed Refrigeration Solutions.

The “Food Service” had the largest share in the market for Europe Commercial Refrigeration Equipment.

The “Refrigerators and Freezers” category dominated the market in 2023.

The key players in the market are Carrier Corporation, Danfoss, Emerson Electric Co., GEA Group AG, Hussmann Corporation (Panasonic), Ingersoll Rand (Trane Technologies), Johnson Controls International, Liebherr Group, Mitsubishi Electric Corporation, Mueller Industries Inc., NIBE Industrier AB, Schott AG, Thermo King (Trane Technologies), True Manufacturing Co. Inc., AHT Cooling Systems GmbH, Epta S.p.A., Viessmann Group, Zanotti S.p.A. (Daikin Industries), ISA S.p.A., Foster Refrigerator (ITW), Others.

The market is projected to grow at a CAGR of 7.89% during the forecast period, 2024-2033.

The Europe Commercial Refrigeration Equipment Market size was valued at USD 12.63 Billion in 2024.

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