|Status : Published||Published On : Jan, 2021||Report Code : VRSME9058||Industry : Semiconductor & Electronics||Available Format :||Page : 152|
The Middle East and Africa (MEA) commercial refrigeration equipment market is expected to grow at a CAGR of 7.9% during the forecast period with its market size predicted to reach USD 6.2 billion by 2027. The MEA commercial refrigeration market is anticipated to be driven by factors such as the increasing import of frozen meat products, rising demand for ready-to-eat food and beverages, and the mounting number of organized retail shops.
Commercial refrigeration equipments are the freezers and refrigerators used in supermarkets, restaurants, restaurants, commercial kitchens and convenience stores. This refrigeration equipment is of two types, firstly those which can be self-contained, wherein the whole system that includes the refrigeration case and the refrigeration system are combined.
Insight by Product
On the basis of product, commercial refrigeration equipment market is segmented into walk-in coolers, beverage refrigeration, transportation refrigeration equipment, display cases, parts, ice making machineries, and others. The others equipment types include vending machines, cryogenic equipment and liquid chillier. Of all, walk-in coolers hold the largest share in the market owing to the growing economic conditions of countries such as South Africa and Saudi Arabia. It leads toan increase in thecustomers' spending powers in the region, thus fueling the growth of the market.
Insight by Application
On the basis of application, the commercial refrigeration equipment market is segmented into food and beverage distribution, food service, food and beverage retail and others. Among all these segments, food service refrigeration is expected to witness the highest demand for this refrigerator equipment during the forecast period. The growth of the market for this application is attributed towards increasing utilization of food service refrigeration equipment in ensuring quality of food from the supplier to the consumer.
Insight by End User
On the basis of end-user, the commercial refrigeration equipment market is segmented into hotels/restaurants & catering, convenience stores, supermarkets, hypermarkets, e-commerce, and others. The others category includes hospitals, educational institutions, large pharmaceutical stores, medical and life sciences. Among these segments, the hotels/restaurants and catering category are the largest end-user of refrigeration equipment in commercial application due to the increasing tourism in the region.
Increasing use of display refrigerators in various grocery stores, super markets, convenience stores and specialty food stores are the key trends observed in the commercial refrigeration equipment market in the region. For better customer experience, the above stated stores uses this type of refrigerators, as it allows customers to see the products clearly before picking any products. In addition, this type of refrigerators is easy to clean and helps in promoting the products in a better way, so that it creates better picture in the users mind.
The key factors pertaining towards the growth of the commercial refrigeration equipment market are the growth in food and beverage industry, increasing demand of ready to eat food, egg, meat and other animal derived food.
The growth in the food industry has led to incorporation of many restaurant chains and development of dining restaurants in the region thereby enhancing the demand for commercial refrigeration equipment. On the other hand, increasing disposable income of population along with the changing lifestyle in the region, results in the increasing demand for ready to eat food and other food like egg, milk and meat, thus, driving the growth of the commercial refrigeration market exponentially in the region.
Key players in the commercial refrigeration equipment market are focusing more on product and services launch to meet the growing demand for refrigeration equipment, leads to strengthening their position in the market. However, it has been observed that local players are depending upon new technology to develop cost efficiencies, thus increasing the rivalry in the market to some extent.
Some of the major players operating in the commercial refrigeration equipment market are United Technologies Corporation, Johnson Controls International PLC, Daikin Industries Ltd., Dover Corporation, AB Electrolux, Illinois Tool Works Inc., Frigoglass S.A.I.C., AHT Cooling Systems GmbH, and Ali Group S.r.l. a Socio Unico.
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