About Light Commercial Refrigeration
In order to surging growth of food and beverages sector across the world, manufacturers are redesigning the light refrigeration systems to comply with new standard. In addition, top manufacturers are sourcing new material and pursuing new certifications to provide a sustainable product. The increasing population, improvising economic condition including the growth in the GDP & disposable income and a booming consumer appliances sector have led to the growth of the light commercial refrigeration system in the developing region.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Billion) |
CAGR | 6.1% |
There are various companies that are exploring in this market, the companies are spending to expand their footprint across new geographical regions. The market leaders are adopting various market strategies such as mergers & acquisitions, expansions, investments, new solution launches, and collaborations as their strategies. Analyst at AMA Research estimates that Global Manufacturers will contribute the maximum growth to Global Light Commercial Refrigeration market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Carrier Corporation (US),, Emerson Electric Company (United States), Daikin Industries, Ltd. (Japan), GEA Group AG (Germany), Nidec Secop (Germany), Standex International Corporation (United States), Lennox International Inc. (United States), Whirlpool Corporation (United States), United Technologies Corporation (United States) and Qingdao Haier Co. Ltd. (China) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Fujimak Corporation (Japan), Hoshizaki Corporation (Japan) and AB Electrolux (Sweden).
Segmentation Overview
AMA Research has segmented the market of Global Light Commercial Refrigeration market by Type (Refrigerator & Freezer, Transportation Refrigeration, Beverage Refrigeration, Ice Cream Merchandiser and Other), Application (Hotels & Restaurants, Supermarkets & Hypermarkets, Convenience Stores, Bakery and Others) and Region.
On the basis of geography, the market of Light Commercial Refrigeration has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Refrigerant Type, the sub-segment i.e. Fluorocarbons will boost the Light Commercial Refrigeration market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The Growth of Cold Chain Market Globally and Increasing Use of Advanced Technologies Such as Magnetic Refrigeration
Market Growth Drivers:
Improving Consumer Lifestyle and Flourishing Food and Healthcare Industries and The Growth in the Adoption of Most Energy-Intensive Retail Businesses Such as Supermarket & Hypermarkets
Challenges:
Stringent Regulations Against the Use of Fluorocarbon Refrigerants and High Maintenance Cost of Product
Restraints:
High Cost of Light Commercial Refrigeration System and Dearth of Skilled Operators and Lack of Awareness in Underdeveloped Nations
Opportunities:
Increasing investment in the Development of Technologically Advanced Refrigeration System by Top Players and Increasing Food & Beverages Sectors in Both Developed and Developing Economies
Market Leaders and their expansionary development strategies
In December 2023, Carrier Global Corporation entered into a definitive agreement today to sell its global commercial refrigeration business to its decades-long joint venture partner Haier This agreement to sell Carrier's Global Access Solutions business and marks another meaningful step forward in the company's portfolio transformation. Definitive agreements are now in place to exit businesses representing about half the EBITDA Carrier is divesting.
In July 2023, Advansor announced the launch of the Low Superheat and ValuePack Light sustainable CO2 refrigeration systems. The new Low Superheat option has been tested in more than 30 supermarkets across cold and warm climates, with measurements showing energy savings of up to 30% compared to older systems.
"According to European Union, from January 1, 2020 the use of F-gases with GWP of 2500 or more to service or maintain refrigeration equipment with gas charge size exceeding 40TCO2equiv (ex. more than 10.2 kg of R404A) will be banned, unless when using reclaimed or recycled refrigerants, if available, it is possible to service them until January 1, 2030. For systems impacted by the service & maintenance bans there are two options: retrofit with gases with GWP lower than 2500 or replace them with new equipment that uses lower GWP refrigerant. It is applicable for existing systems and maintenance."
Key Target Audience
Light Commercial Refrigeration Manufacturers, Light commercial refrigeration Dealers and Suppliers, Raw Material Suppliers and Distributors, End users, Government and Research Organizations, Companies Operational in Material R&D, Associations and Industrial Bodies, Investment banks and Consulting Companies and Consultants in Chemical and Material Sectors
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.