Europe Commercial Refrigeration Equipment Market Overview
Europe commercial refrigeration equipment market grew significantly during the period 2018-2019 on account of the growth of the retail sector owing to the increasing number of supermarkets hypermarkets to fulfil the grocery sector increasing demand. However, the novel COVID-19 has disrupted the overall economy in European countries, leaving its negative imprint on numerous sectors and refraining from the growth of commercial refrigeration equipment market during the year 2020 due to disrupted supply chain and halt in production to curb the spread of COVID-19. Although, market started showing signs of recovery in 2021 on account of rise in investment owing to huge influx of FDI and public-private partnerships in the retail sector and revitalization of hospitality sector were the key catalysers for the overall growth of commercial refrigeration equipment across the region.
According to 6Wresearch, Europe Commercial Refrigeration Equipment Market revenue size is projected to grow at a CAGR of 4.4% during 2022-2028. The increased demand for frozen and chilled ready-to-eat products among customers as a result of fast-paced lifestyles and growing prevalence of cross-cultural cuisines such as seafood would augment the demand for commercial refrigeration equipment. Furthermore, rapid expansion of the retail sector, has boosted overall sales of commercial refrigeration equipment. Furthermore, its burgeoning End Users in the chemical and pharmaceutical industries, as well as the hospitality sector, would act as a critical driving force behind the growth of the commercial refrigeration equipment market in Europe during the forecast period.
Market by Countries Analysis
In terms of countries, the networking and communications segment has captured 26.8% of the market revenue in 2021. Germany accounted for the maximum market revenue share in 2021 as Germany is the largest market in term of grocery-anchored real estate investment in Europe with an investment of $3.4 billion in the year 2020-21 which is expected to further grow over the period of next five years. Additionally, Germany volume of retail trade index grew by 5.4% from March 2020 to March 2021.
Key Highlights of the Report
- Europe Commercial Refrigeration Equipment Market Overview
- Europe Commercial Refrigeration Equipment Market Outlook
- Europe Commercial Refrigeration Equipment Market Forecast
- Market Opportunity Assessment
- Company Revenue Ranking
- Market Competitive Benchmarking
- Europe Commercial Refrigeration Equipment Market – Porter’s Five Forces
- Historical Data and Forecast of Europe Commercial Refrigeration Equipment Market Revenues for the Period 2018-2028F
- Historical Data and Forecast of Europe Commercial Refrigeration Equipment Market Revenues, By End Users for the Period 2018-2028F
- Historical Data and Forecast of Europe Commercial Refrigeration Equipment Market Revenues, By Type for the Period 2018-2028F
- Historical Data and Forecast of Europe Commercial Refrigeration Equipment Market Revenues, By Countries for the Period 2018-2028F
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