Europe Commercial Refrigeration Equipment Market Share Likely to Reach at a CAGR of 7.89% By 2033

According to current market research conducted by the CMI Team, the European commercial Refrigeration Equipment Market is expected to record a CAGR of 7.89% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 12.63 Billion. By 2033, the valuation is anticipated to reach USD 25.02 Billion.

Europe Commercial Refrigeration Equipment Market: Growth Factors and Dynamics

The European commercial refrigeration equipment market presents significant growth opportunities due to several factors:

• Increased Consumer Need for Convenience: Modern busy lifestyles increase the need for more conveniently offered refrigeration options. Commercial refrigeration equipment units strategically located in supermarkets, restaurants, convenience stores, etc., provide consumers and businesses with quick and easily accessible cooling and storage options that guarantee freshness and food safety standards.

• Growing Demand for Fresh and Ready-to-Eat Food: Fresh and ready-to-eat food is becoming popular, influenced by a desire for healthy and convenient food. The demand for fresh food and quick preparation is rising; in particular, people of the millennial and Gen Z age groups want fresh food with minimal preparation time. Commercial refrigeration equipment is widely used to maintain fresh and safe conditions for such products.

• Urbanisation and Infrastructure Development: As cities worldwide experience rapid urbanization and infrastructure development, commercial refrigeration equipment units have more opportunities to serve busy city dwellers and businesses that require efficient and reliable cooling solutions. For example, supermarkets, convenience stores, and food service establishments need the most efficient high-performance refrigeration systems to fulfil the needs of urban populations.

• Cost-Effectiveness: Commercial refrigeration equipment units are cost-effective only when the intake of spoiled or waste products is reduced to zero, and perishable goods are ensured to last longer and stay fresh. Investment advancement may bring fantastic returns for any business venture, regardless of size.

• Increasing social media and Digital Marketing: social media has become essential in assisting businesses with commercial refrigeration equipment. Companies can link themselves to their customers, increase brand awareness, and sell them through Instagram, Facebook, and Twitter. Image dissemination of fresh produce, ready-to-eat meals, and other products held in the refrigerator by operators helps attract and retain clients, and companies can establish a loyal customer base.

• Growing Demand for Themed Refrigeration Solutions: The demand for themed refrigeration solutions, such as eco-friendly and energy-efficient units, will cater to niche markets while providing operators with a unique opportunity to give distinctive and memorable experiences. This is in response to customer concerns about the need for sustainable and ecologically friendly designs.

Europe Commercial Refrigeration Equipment Market: Launches

• In June 2024, Mitsubishi Heavy Industries Thermal Systems, Ltd. launched sales of the TEK series of compact electric-driven transport refrigeration units for small and mid-size trucks. The company’s European sales arm oversees sales in Osnabruck, Germany. In addition to the compact size, the TEK series offers enhanced cooling/heating capacity, enabling expansion from the TE20/30 series’ mountable range to include small and mid-size trucks. The TE20/30 series has received two notable awards: the “Agency for Natural Resources and Energy Commissioner’s Award (Transportation Field)” in 2019 and the “Technology Award” from the Japan Society of Refrigerating and Air Conditioning Engineers (JSRAE) in 2021.

• In March 2024, Panasonic Corporation announced that its Heating & Ventilation A/C Company (HVAC) would release three new models of commercial air-to-water (A2W) heat pumps using environmentally friendly natural refrigerants for multi-dwelling units, stores, offices, and other light-commercial-properties-in September 2024. They employ compact designs at the industry’s highest level and join the lineup of models for stand-alone homes to serve a broader range of customer needs.

• In August 2022, Embraco, a global provider of refrigeration technology for the complete residential and commercial cold chain and part of Nidec Global Appliance’s portfolio of brands, announced a new range of indoor R290 condensing units for Europe, especially for food service applications such as under-counters, blast chillers, cold rooms, and reach-ins. The lineup will be one of the products highlighted at Chillventa.

Report Scope

Europe Commercial Refrigeration Equipment Market: COVID-19 Analysis

The COVID-19 pandemic has profoundly impacted the European Commercial Refrigeration Market, presenting challenges and opportunities. Key effects include:

• Decreased Foot Traffic: Lockdowns and social distancing measures reduced foot traffic in traditional Commercial Refrigeration locations like business districts and events, resulting in lower customer volumes and sales.

• Event Cancellations: Canceling large gatherings such as festivals and concerts deprived Commercial Refrigeration of major revenue sources.

• Supply Chain Disruptions: Commercial Refrigeration operators faced challenges in consistently sourcing ingredients and supplies, which sometimes led to increased costs and limited menu options.

• Regulatory Adjustments: Adapting to new health and safety regulations necessitated additional costs and operational adjustments for Commercial Refrigeration operators.

• Surge in Takeout and Delivery: With indoor dining restrictions in place, there was a heightened demand for takeout and delivery services, benefiting mobile food providers like Commercial refrigeration. Many expanded their online ordering capabilities and partnered with delivery apps.

• Menu and Business Innovations: Commercial Refrigeration operators diversified their offerings to include family meal packs, DIY meal kits, and grocery items, catering to the evolving consumer preferences during the pandemic. Some introduced subscription models and loyalty programs to foster customer loyalty.

• Enhanced Digital Presence: Commercial refrigeration leveraged social media and online ordering systems to improve customer engagement and streamline transactions, enhancing the overall customer experience.

• Product Diversification: By adapting to consumer needs and integrating technology, Commercial Refrigeration successfully diversified its product offerings and revenue streams, contributing to resilience amid pandemic challenges.

The COVID-19 pandemic brought hardships and opportunities to the Commercial Refrigeration Market, prompting operators to innovate and adapt to changing circumstances.

List of the prominent players in the Europe Commercial Refrigeration Equipment Market:

• Carrier Corporation
• Danfoss
• Emerson Electric Co.
• GEA Group AG
• Hussmann Corporation (Panasonic)
• Ingersoll Rand (Trane Technologies)
• Johnson Controls International
• Liebherr Group
• Mitsubishi Electric Corporation
• Mueller Industries Inc.
• NIBE Industrier AB
• Schott AG
• Thermo King (Trane Technologies)
• True Manufacturing Co. Inc.
• AHT Cooling Systems GmbH
• Epta S.p.A.
• Viessmann Group
• Zanotti S.p.A. (Daikin Industries)
• ISA S.p.A.
• Foster Refrigerator (ITW)
• Others

The Europe Commercial Refrigeration Equipment Market is segmented as follows:

By Product Type

• Refrigerators and Freezers
• Refrigerated Display Cases
• Beverage Refrigeration
• Ice Machines
• Others

By Application

• Food Service
• Food and Beverage Retail
• Healthcare
• Hotels and Hospitality
• Other

By Capacity

• Small Capacity
• Medium Capacity
• Large Capacity

By Technology

• Self-contained Refrigeration Units
• Remote Condensing Units
• Smart Refrigeration 

Regional Coverage:

Europe

• Germany
• France
• U.K.
• Russia
• Italy
• Spain
• Netherlands
• Rest of Europe