The European commercial equipment market was worth US$7.7 bn in 2012. Commercial refrigeration equipment (CRE) comprises an array of products such as commercial freezers, commercial ice-cream freezers, commercial refrigerators, back bar coolers, glass frosters, milk coolers, bottle coolers, beer freezers, and beer-dispensing units, among others.
Technological Advancement, Green Energy Norms Aid Market Growth
In Europe, following the economic slump of 2006, the economies of most countries are treading towards revival. In the retail sector, the emergence of newer networks pertaining to supermarkets, food service chains, eating joints, and cafes and expansion of the hospitality sector, which includes hotels, bed & breakfasts, and motels has given thrust to the commercial refrigeration equipment market.
Browse the full Europe Commercial Refrigeration Equipment Market Report: http://www.mrrse.com/europe-commercial-refrigeration-equipment-market
Presently, in the urban areas in Europe, nuclear families with two working partners is the standard family structure. As such, dining out and buying ready-to-eat meals is a regular practice, which has boosted the demand for commercial refrigeration equipment in this region.
Thus, demand for new refrigeration equipment as well as replacement of outdated products will propel the European commercial refrigeration equipment market. With technological advancement in every sphere and green energy having becoming the standard norm, the rising demand for solar-powered refrigeration systems for commercial needs is opening new avenues for the same. Remotely monitored commercial equipment, a relatively new technology within commercial refrigeration equipment, enables 24/7 monitoring of the system for alerts such as a refrigerant leak, high system pressure, and high liquid levels, which is beneficial in reducing energy consumption and overall maintenance and operation cost of commercial refrigeration equipment. The benefits of remote-monitored CRE powered with solar energy have presented the segment with high potential in the long run.
These factors are collectively aiding the progress of the commercial refrigeration equipment market; the market is expected to expand at a steadfast CAGR of 5.90% from 2013 to 2019.
Refrigerators and Freezers Segment Leads Europe Commercial Refrigeration Equipment Market
The Europe commercial refrigeration equipment market is analyzed on the basis of product type, application, and region. In 2012, it was the food and beverage retail application segment that accounted for the highest volume share in this market in Europe. Some of the popular and long-established supermarket chains such as Lidl, Netto, and Aldi have further expanded retail operations, which has benefitted the CRE market in Europe.
On the basis of product type, transport refrigeration and refrigerators and freezers are the fastest growing segments and collectively held 36.2% of the overall market in 2012. With the development of the food and beverage industry in Europe, beverage production is rising to cater to both domestic and export purposes, wherein transport refrigeration is an essential component.
The regional segments of the European commercial refrigeration equipment market are the U.K., Italy, Scandinavia, Germany, France, and Rest of Europe. In 2012, Germany led the market, followed by the U.K. In the coming years as well, Germany will continue to enjoy dominance in this market due to the consistent expansion of major retail giants in the region. However, factors such as the low energy efficiency of commercial refrigeration equipment and the resultant adverse impact on the environment are slowing the market’s growth.
Browse the full Press Release of Europe Commercial Refrigeration Equipment Market: http://www.mrrse.com/europe-commercial-refrigeration-equipment-industry
The commercial refrigeration equipment market in Europe has some of the most renowned players operating in this market. These include Viessmann Group (Norpe Group), Frigoglass, Ingersoll Rand Plc, York (Johnson Controls), Interlevin Refrigeration Ltd., Hoshizaki International Inc., Hussmann Corporation (Dubilier & rice LLC), Carrier (UTC), and Metalfrio Solutions Inc. Of these, Carrier and FrigoGlass enjoy a dominant position in this market.