Refrigerator & freezer segment acquired the largest market revenue share in the Europe Commercial refrigeration equipment market in year 2021 – 6Wresearch
Over the past few years, commercial refrigeration equipment market in Europe grew significantly on account of growing requirements for frozen & chilled ready-to-eat products among consumers due to fast-paced lifestyle and popularity of cross-cultural foods such as seafood. In addition to that, rapid growth in the organized retail sector, such as rise in the number of hypermarkets and supermarkets, has spurred the overall sales of commercial refrigeration equipment, thereby augmenting the growth of the market. Moreover, with outbreak of the COVID-19 pandemic in 2020, the retail sector witnessed significant boost due to increased consumer preference for packaged frozen food for hygiene and safety concerns, along with consumers stacking long shelf-life items due to lockdown and movement restriction. This, positively impacted the retail sector, thereby, inducing demand for commercial refrigeration equipment market in last quarter of 2020 and the same trend is set to follow in the forecast period.
According to 6Wresearch, 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 is currently at the growth stage and is anticipated to grow further on account of increased demand for refrigerated of food and beverage products, along with its growing applications in chemicals and pharmaceuticals, hospitality sector among others.
According to Rishabh Singh Bhandari, Research Analyst, 6Wresearch, “Refrigerator & freezer segment acquired highest share in the Europe Commercial Refrigeration Equipment market in 2021 in terms of revenue on account of increased demand for refrigerated ready-eat products, along with growing application in supermarkets, hypermarkets and bakeries in the region.”
“Supermarkets & hypermarkets acquired highest share in the Europe Commercial Refrigeration Equipment market in 2021 in terms of revenue as supermarkets & hypermarkets acquired the maximum share in terms of revenue on account of growing grocery retail sector owing to increased sales as consumers were preferring longer shelf-life frozen food during COVID-19 pandemic.” He further added.
Some of the major companies in Europe Commercial Refrigeration Equipment market include HAUSER Kühlmöbel & Kältetechnik GmbH, De Rigo Refrigeration S.r.l, Freor Lt Uab, Panasonic Holdings Corporation, FRIGOBLOCK GmbH, Whirlpool Corporation, INTARCON, Arneg S.p.A, Epta S.p.A., Carrier Global Corporation, Exkal S.A.
“Europe Commercial Refrigeration Equipment market report (2022-2028)” report provides an in-depth analysis with 49 figures and 13 tables, covered in 103 pages. The report estimates and forecast the overall Europe commercial refrigeration equipment market by type, end users and countries. The report provides an unbiased and detailed analysis of the on-going 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.