The Europe Refrigeration Coolers Market would witness market growth of 6.1% CAGR during the forecast period (2021-2027).
The improvements in commercial refrigeration coolers like artificial intelligence integration, expanding automation trends, and an increase in the number of quick-service restaurants in developing economies are acting as the growth catalysts for the Refrigeration Coolers market. In addition, increasing investment in refrigerated warehouses/cold storage, growing preference for frozen and processed foods, soaring development of advanced and portable refrigeration coolers for sale, and higher adoption of the natural refrigerant-based system in a variety of commercial and industrial applications are the some of the key trends of the industry.
In recent years, refrigerated warehouses, food and beverage processing, and meat and poultry processing have witnessed a higher need for refrigeration systems. Moreover, the expanding population of some countries creates a tremendous demand for food, which presents opportunities for food processing factories throughout the region. In addition, government subsidies for the creation of cold chain networks would encourage many businesses to deploy refrigeration coolers
The region is home to some of the prominent food and beverage production companies. To keep food goods fresh and frozen, the food and beverage industries are investing in modern refrigeration equipment. In addition, the constantly growing hospitality business, particularly in France, the United Kingdom, and Germany, has prompted regional restaurants to use these units to keep vast quantities of food to meet rising consumer demand. Moreover, the European countries' implementation of strict food safety standards is creating a tremendous need for these devices to maintain the safety of food products.
The increase in the number of quick-service restaurants (QSRs) and fast-food establishments is one of the key trends of the regional market. According to a report issued by Rlist and the Irish Food Board 2021, there are 900 KFC franchisees, 1,247 McDonald's outlets, and 2,380 Subway outlets in the UK in 2021, with numbers likely to rise in the future years.
The Germany market dominated the Europe Refrigeration Coolers Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $288.7 million by 2027. The UK market is anticipated to grow at a CAGR of 5.2% during (2021 - 2027). Additionally, The France market would expect a CAGR of 6.9% during (2021 - 2027).
Based on Component, the market is segmented into Evaporators & Air coolers and Condenser. Based on Refrigerant Type, the market is segmented into HFC/HFO, NH3, CO2, Glycol, and Others. Based on Application, the market is segmented into Commercial and Industrial. Based on Commercial Type, the market is segmented into Supermarkets & Hypermarkets, Convenience Stores & Mini Markets and Hospitality. Based on Industrial Type, the market is segmented into Refrigerated Warehouses, Beverage Processing, Fruit & Vegetable Processing, Dairy & Ice-cream Processing, Meat, Poultry, & Fish Processing and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Refrigeration Coolers Market Size will Hit $4.7 Billion by 2027, at a CAGR of 6.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Johnson Controls International PLC, Emerson Electric Co., Carrier Global Corporation, Daikin Industries, Ltd., The Danfoss Group, Lennox International, Inc., Guntner GmbH & Co. KG, Evapco, Inc., Baltimore Aircoil Company Inc. (Amsted Industries), and Koxka.
By Component
By Refrigerant Type
By Application
By Commercial Type
By Industrial Type
By Country
Companies Profiled
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