Dublin, Dec. 08, 2022 (GLOBE NEWSWIRE) -- The "Europe Commercial Refrigeration Equipment Market Outlook: Market Forecast?By Type,?By End Users (Hotels & Restaurants, Supermarkets & Hypermarkets, Convenience Stores, Bakery, Others),?By Countries?And Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.
Europe Commercial Refrigeration Equipment Market revenue size is projected to grow at a CAGR of 4.4% during 2022-2028.
Europe commercial refrigeration equipment market report thoroughly covers market by type, end users and countries. The market report provides an unbiased and detailed analysis of the on-going market trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Europe Commercial Refrigeration Equipment Market Synopsis
Europe commercial refrigeration equipment market grew significantly during the period 2018-2019 on account of growth of retail sector owing to increasing number of supermarkets & hypermarkets to fulfil the grocery sector increasing demand.
However, the novel COVID-19 has disrupted the overall economy in European countries, leaving its negative imprint on numerous sectors and refraining from the growth of commercial refrigeration equipment market during the year 2020 due to disrupted supply chain and halt in production to curb the spread of COVID-19.
Although, market started showing signs of recovery in 2021 on account of rise in investment owing to huge influx of FDI and public-private partnerships in the retail sector and revitalization of hospitality sector were the key catalysers for the overall growth of commercial refrigeration equipment across the region.
The increased demand for frozen and chilled ready-to-eat products among customers as a result of fast-paced lifestyles and growing prevalence of cross-cultural cuisines such as seafood would augment the demand for commercial refrigeration equipment. Furthermore, rapid expansion of the retail sector, has boosted overall sales of commercial refrigeration equipment.
Furthermore, its burgeoning End Users in the chemical and pharmaceutical industries, as well as the hospitality sector, would act as a critical driving force behind the growth of the commercial refrigeration equipment market during the forecast period.
Market by Countries Analysis
In terms of countries, networking and communications segment has captured 26.8% of the market revenue in 2021. Germany accounted for the maximum market revenue share in 2021 as Germany is the largest market in term of grocery-anchored real estate investment in Europe with an investment of $3.4 billion in the year 2020-21 which is expected to further grow over the period of next five years. Additionally, Germany volume of retail trade index grew by 5.4% from March 2020 to March 2021.
Market by Type Analysis
In terms of type, refrigerator & freezer segment acquired the maximum revenue share on account of to growing demand for ready-to-eat frozen food product along with expanding retail outlets driving the sales of the product.
Market by End Users Analysis
In terms of end users, supermarkets & hypermarkets held maximum revenue share due to the rise in investment in food retail sector for the construction and development of supermarkets & hypermarkets which resulted in increased number of retail outlets in the region.
Key Highlights of the Report
Europe Commercial Refrigeration Equipment Market Overview
Europe Commercial Refrigeration Equipment Market Outlook
Europe Commercial Refrigeration Equipment Market Forecast
Historical Data and Forecast of Europe Commercial Refrigeration Equipment Market Revenues for the Period 2018-2028F
Historical Data and Forecast of Europe Commercial Refrigeration Equipment Market Revenues, By Type for the Period 2018-2028F
Historical Data and Forecast of Europe Commercial Refrigeration Equipment Market Revenues, By End Users for the Period 2018-2028F
Historical Data and Forecast of Europe Commercial Refrigeration Equipment Market Revenues, By Countries for the Period 2018-2028F
Market Drivers and Restraints
Industry Life Cycle
Europe Commercial Refrigeration Equipment Market - Porter's Five Forces
Market Opportunity Assessment
Company Revenue Ranking
Market Competitive Benchmarking
Key Strategic Recommendations
Company Profiles (Top 10)
HAUSER Kuhlmobel & Kaltetechnik GmbH
De Rigo Refrigeration S.r.l
Freor Lt Uab
Panasonic Holdings Corporation
Carrier Global Corporation
Market Scope and Segmentation
Refrigerator & Freezer
Refrigerated Display Case
Ice Cream Merchandiser
Refrigerated Vending Machine
By End Users
Hotels & Restaurants
Supermarkets & Hypermarkets
Others (Pharmaceuticals, Chemicals Etc.)
For more information about this report visit https://www.researchandmarkets.com/r/71klmx
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