Commercial Refrigeration Equipment Market: Reach-in Refrigerators to Exhibit High Growth; U.S. Industry Analysis and Opportunity Assessment 2015 - 2025

  • Published: 2016-03-09
  • Report Code: REP-US-1305

An Incisive, In-depth Analysis on the Us Commercial Refrigeration Equipment Market

This study offers a comprehensive, 360 degree analysis on the Us Commercial Refrigeration Equipment market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Us Commercial Refrigeration Equipment market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.

Commercial refrigeration systems are refrigerators with remote or self-contained condensing units. These refrigerators are designed especially for commercial use with a wide range of temperature control (typically from -18°C to +10°C) options. Commercial refrigeration systems are mainly used in hypermarkets, supermarkets, convenience stores, warehouses & distribution centers, foodservice industry and food & beverage production units. Commercial refrigeration systems include various products such as ice machines, vending machines, beverage refrigeration equipment, refrigerated display cases, trailers, trucks, containers and walk-in & reach-in refrigerators. Commercial refrigeration system includes various components such as compressors and refrigerants. Refrigerants mainly used in commercial refrigeration systems include R507A, R417A and R422A. The selection for a refrigerant depends on various properties such as non-corrosiveness, global warming and ozone depletion potential, inflammability, toxicity, cost, erosional properties, leak-detection capability and thermodynamic properties.

Drivers & Trends

Growing demand for frozen and chilled products, expansion of cold chain capacity, technological advancements in commercial refrigeration systems and rebates on energy-efficient products and practices are some of the major underlying factors anticipated to fuel growth of the U.S. commercial refrigeration systems market between 2016 and 2025. This is forecast to create unprecedented opportunities for commercial refrigeration system manufacturers, distributors and HVAC contractors.

Key trends identified in the U.S. commercial refrigeration systems market include rapid adoption of Internet of Things (IoT), compatible commercial refrigeration systems for enhancing system output, government initiatives to support utilisation of eco-friendly refrigerants and continued advancements in energy-efficient products. However, declining replacement rate of commercial refrigeration equipment and stringent government regulations could pose major challenge for tier II & III players.

Market Segmentation

The U.S. commercial refrigeration systems market is projected to expand at a healthy CAGR of 3.2% during the forecast period. The U.S. commercial refrigeration systems market is segmented on the basis of application and product type. By application, the market is segmented into foodservice, food & beverage distribution, food & beverage retail and food & beverage production. On the basis of product type, the market is classified into transportation & refrigeration systems, refrigerator & freezers, beverage refrigeration equipment, refrigerated display cases, ice machines and refrigerated vending machines.

U.S. Commercial Refrigeration System Market Analysis, By End-use Application

Foodservice segment accounted for the highest share of 30% in terms of value in the U.S. commercial refrigeration systems market in 2014. This segment is expected to remain dominant in the market over the forecast period. Ice machines segment and beer dispensing equipment sub-segment are projected to play an important role in the foodservice industry due to various factors such as increasing per capita food consumption and rising number of foodservice restaurants in the country.

U.S. Commercial Refrigeration System Market Analysis, By Region

Southeast region represents the largest market potential, followed by the Middle-east and Far West regions. California, Texas and Florida represent a huge potential for refrigerated systems due to high density of restaurants and convenience stores in these states. Other high-growth markets include Arizona, Georgia and Utah due to rapid growth in the restaurant industry in these states.

U.S. Commercial Refrigeration System Market Analysis, By Product Type

By product type, transportation refrigeration systems segment is projected to expand at the highest CAGR of 5.5% during the forecast period due to expansion of cold chain capacity in the U.S. It is observed that customisation holds the key for tier 2 and tier 3 players in order to further penetrate into the market, thus creating a competitive threat for tier 1 suppliers in the market. Meanwhile, key players are strengthening their market positions through both organic and inorganic growth. Also, acquisition of HVAC contractors is leading to the addition of a new customer base for commercial refrigeration systems manufacturers.

us-commercial-refrigeration-equipment-market

This report by Future Market Insights (FMI) on the U.S. commercial refrigeration systems market for the period 2015-2025 presents the overall outlook of the commercial refrigeration systems market across the U.S. The primary objective of the report is to offer updates on market opportunities in the U.S. commercial refrigeration systems market.   

To understand and assess insights related to the U.S. commercial refrigeration systems market, the report is categorically split into two sections: market analysis by product type and by end-use application. The report analyses the U.S. commercial refrigeration systems market in terms of market value (US$ Mn) and volume (‘000 Units)

The report starts with an overview of the commercial refrigeration systems market across the globe. This section also includes FMI’s analyses of key trends, drivers and restraints from the supply and demand perspective. Impact analysis of key growth drivers and restraints based on the weighted average model is also included in the report to better equip and arm the client with crystal-clear, decision-making insights.

The next section of the report includes analysis of the U.S. market on the basis of application. The U.S. commercial refrigeration systems market is segmented into four key application segments:

  • Foodservice
    • Restaurants
    • Convenience Store
  • Food & Beverage Distribution
  • Food & Beverage Retail
  • Food & Beverage Production

The section that follows analyses the market on the basis of product type and presents the forecast in terms of volume and value for the next 10 years. Product types covered in the report include:

  • Transportation Refrigeration Systems
    • Shipping Container System
    • Trailer Refrigeration System
    • Truck Refrigeration System
  • Refrigerator and Freezers
    • Walk-in Refrigerators
    • Reach-in Refrigerators
  • Beverage Refrigeration Equipment
    • Drinking Fountain
    • Soda Fountain
    • Beverage Cooling and Dispensing Equipment
    • Beer Dispensing Equipment
  • Refrigerated Display Cases
  • Ice Machines
  • Refrigerated Vending Machines

The next section analyses the products based on end-use application and includes the insights collected from survey conducted across the U.S.

To calculate the market size, the report considers average selling price of various types of commercial refrigeration systems across the U.S. Furthermore, data points such as product type split and market split by application and qualitative inputs from primary respondents have been incorporated to arrive at the apt market estimates. The forecast presented here assesses the total revenue generated across the commercial refrigeration systems market. While developing the market forecast, the starting point involves sizing the current market, which forms the basis on how the market is anticipated to take shape in the near future. Given the characteristics of the market, we triangulated the outcome on the basis of various analysis results based on the supply side and demand side. However, quantifying the market across the aforementioned segments and regions is more a matter of quantifying expectations and identifying opportunities rather than rationalising them after the forecast has been completed. In addition, it is imperative to note that in an ever-fluctuating U.S. economy, we not only conduct forecasts in terms of CAGR, but also analyse on the basis of key parameters, such as year-on-year (Y-o-Y) growth, to understand the predictability of the market and to identify the right opportunities across the commercial refrigeration systems market.

As previously highlighted, the market for commercial refrigeration system is split into various sub-segments or categories, product types and end-use applications. All these sub-segments or categories have been analysed in terms of their Basis Point Share (BPS) to understand each segment’s relative contribution to market growth. This detailed level of information is important for the identification of many key trends in the commercial refrigeration systems market.

Another key feature of this report is the analysis of the commercial refrigeration systems market by product type and end-use application and its revenue forecast in terms of absolute dollar. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales perspective in the U.S. commercial refrigeration system market.

Furthermore, to understand key growth segments in terms of growth & performance of the commercial refrigeration system market, Future Market Insights developed a market attractiveness index. The resulting index should help providers identify the real market opportunities.

In the final section of the report, the commercial refrigeration system market landscape is included to provide report audiences with a dashboard view, based on categories of providers across the value chain, their presence in the commercial refrigeration system product portfolio and key differentiators. Some major market players featured in the section are:

  • Daikin Industries, Ltd.
  • Standex International Corporation
  • Whirlpool Corporation
  • United Technologies
  • Dover Corporation
  • Ingersoll-Rand Plc
  • Hussmann Corporation
  • Lennox International Inc.
  • Manitowoc Company, Inc.
  • Emerson Electric Co.
  • Illinois Tool Works Inc.   

Us Commercial Refrigeration Equipment Market Reports - Table of Contents

Us Commercial Refrigeration Equipment Market Reports - List of Tables

Table 01: U.S. Commercial Refrigeration Systems Market Size (US$ Mn) and Volume (Units) By Application, 2014–2025

Table 02: U.S. Commercial Refrigeration Systems Market Value (US$ Mn) and Volume (‘000 units), By Foodservice Segment, 2014–2025

Table 03: U.S. Commercial Refrigeration Systems Market Value (US$ Mn) and Volume (‘000 units), By Transportation Refrigeration Systems, 2014–2025

Table 04: U.S. Commercial Refrigeration Systems Market Value (US$ Mn) and Volume (‘000 units), By Refrigerators and Freezers, 2014–2025

Table 05: U.S. Beverage Refrigeration Equipment Segment Market Size (US$ Mn) and Volume (‘000 Units), 2014–2025

Table 06: U.S. Commercial Refrigeration Systems Market Size (US$ Mn) and Volume (‘000 Units) By Product Type, 2014–2025

Us Commercial Refrigeration Equipment Market Reports - List of Figures

Figure 1: Global Commercial Refrigeration System Market Overview

Figure 2: U.S. Real GDP Growth Rate vs. U.S. Commercial Refrigeration Systems Market Value Y-o-Y Growth Outlook, 2014–2025

Figure 3: U.S. Food & Alcohol Expenditure vs. U.S. Commercial Refrigeration Systems Market Value Y-o-Y Growth Outlook, 2014–2025

Figure 4: U.S. Retail Sales vs U.S. Commercial Refrigeration Systems Market Value Y-o-Y Growth Outlook, 2014–2025

Figure 5: U.S. Foodservice Sales vs U.S. Commercial Refrigeration Systems Market Value Y-o-Y Growth Outlook, 2014–2025

Figure 6: U.S. Convenience Store Count vs U.S. Commercial Refrigeration Systems Market Value Y-o-Y Growth Outlook, 2014–2025

Figure 7: U.S. Restaurant Industry Sales vs U.S. Commercial Refrigeration Systems Market Value Y-o-Y Growth Outlook, 2014–2025

Figure 8: U.S. Commercial Refrigeration Systems Market Value & Volume Forecast, 2014–2025

Figure 9: U.S. Commercial Refrigeration Systems Market Absolute $ Opportunity, 2015–2025

Figure 10: U.S. Commercial Refrigeration Systems Market Growth, 2014–2025

Figure 11: U.S. Commercial Refrigeration Systems Market Value Y-o-Y Growth,By Application, 2015–2025

Figure 12: U.S. Commercial Refrigeration Systems Market Value Share, By Application, 2015 & 2025

Figure 13: U.S. Foodservice Segment Value (US$ Mn) & Volume (‘000 Units) Forecast, 2014–2025

Figure 14: U.S. Foodservice Segment Absolute $ Opportunity, 2015–2025

Figure 15: U.S. Foodservice Segment Y-o-Y Growth, 2014–2025

Figure 16: U.S. Foodservice Segment BPS Analysis, 2015E and 2025F

Figure 17: U.S. Restaurant Sub-segment Absolute $ Opportunity (US$ Mn), 2015–2025

Figure 18: U.S. Convenience Stores Sub-segment Absolute $ Opportunity (US$ Mn) 2015–2025

Figure 19: U.S. Food and Beverage Distribution Segment Value (US$ Mn) & Volume (‘000 Units) Forecast, 2014–2025

Figure 20: U.S. Food and Beverage Distribution Segment Absolute $ Opportunity, 2015–2025

Figure 21: U.S. Food and Beverage Retail Segment Value (US$ Mn) & Volume (‘000 Units) Forecast, 2014–2025

Figure 22: U.S. Food and Beverage Retail Segment Segment Absolute $ Opportunity, 2015–2025

Figure 23: U.S. Food and Beverage Production Segment Value (US$ Mn) & Volume (‘000 Units) Forecast, 2014–2025

Figure 24: U.S. Food and Beverage Production Segment Segment Absolute $ Opportunity, 2015–2025

Figure 25: U.S. Commercial Refrigeration System Market Attractiveness Analysis, by Application, 2015-2025

Figure 26: U.S. Commercial Refrigeration Systems Market Growth By Product Type, 2014–2025

Figure 27: U.S. Commercial Refrigeration Systems Market, BPS Analysis By Products Type, 2015 and 2025

Figure 28: U.S. Transportation Refrigeration Systems Segment, by Value (US$  Mn), Volume (‘000 Units) and Forecast, 2014–2025

Figure 29: U.S. Transportation Refrigeration Systems Segment Absolute $ Opportunity, 2015–2025

Figure 30: U.S. Transportation Refrigeration Systems Segment Y-o-Y Growth, 2014–2025

Figure 31: U.S. Transportation Refrigeration Systems Segment BPS Analysis, 2015E and 2025F

Figure 32: U.S. Shipping Container Systems Sub-segment Absolute $ Opportunity (US$ Mn), 2015–2025

Figure 33: U.S. Trailer Refrigeration Sub-segment Absolute $ Opportunity (US$ Mn), 2015–2025

Figure 34: U.S. Truck Refrigeration Systems Sub-segment Absolute $ Opportunity (US$ Mn), 2015–2025

Figure 35: U.S. Refrigerators and Freezers Segment, by Value (US$  Mn), Volume (‘000 nits) and Forecast, By, 2014–2025

Figure 36: U.S. Refrigerators and Freezers Segment Absolute $ Opportunity, 2015–2025

Figure 37: U.S. Walk-in Refrigerators/Freezers Sub-segment Absolute $ Opportunity (US$ Mn), 2015–2025

Figure 38: U.S. Reach-in Refrigerators/Freezers Sub-segment Absolute $ Opportunity (US$ Mn), 2015–2025

Figure 39: U.S.  Beverage Refrigeration Equipment Segment Value (US$  Mn) & Volume (‘000 Units) Forecast, 2014–2025

Figure 40: U.S. Beverage Refrigeration Equipment Segment Absolute $ Opportunity, 2015–2025

Figure 41: U.S. Drinking Fountain Sub-segment Absolute $ Opportunity (US$ Mn), 2015–2025

Figure 42: U.S. Soda Fountain Sub-segment Absolute $ Opportunity (US$ Mn), 2015–2025

Figure 43: U.S. Beverage Cooling and Dispensing Equipment Sub-segment Absolute $ Opportunity (US$ Mn), 2015–2025

Figure 44: U.S. Beer Dispensing Equipment Sub-segment Absolute $ Opportunity (US$ Mn), 2015–2025

Figure 45: U.S. Refrigerated Display Cases Segment Value (US$  Mn) & Volume (‘000 Units) Forecast, 2014–2025

Figure 46: U.S. Refrigerated Display Cases Segment Absolute $ Opportunity, 2015–2025

Figure 47: U.S. Ice Machines Segment Value (US$  Mn) & Volume (‘000 Units) Forecast, 2014–2025

Figure 48: U.S. Ice Machines Segment Absolute $ Opportunity, 2015–2025

Figure 49: U.S. Refrigerated Vending Machines Segment Value (US$  Mn) & Volume (‘000 Units) Forecast, 2014–2025

Figure 50: U.S. Refrigerated Vending Machines Segment Absolute $ Opportunity, 2015–2025

Figure 51: U.S. Commercial Refrigeration Systems Market Attractiveness Analysis, By Product Type

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