Global Refrigeration Coolers Market (2022 to 2027) – Increasing Demand for FMCG Products Presents Opportunities – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Global Refrigeration Coolers Market” report has been added to ResearchAndMarkets.com’s offering.

The global refrigeration coolers market size is expected to grow from USD 3.6 billion in 2022 to USD 4.8 billion by 2027, at a CAGR of 6.0%.

Evaporators and Air coolers: The fastest-growing segment of the refrigeration coolers market, by Component type

Evaporators and air coolers is expected to hold the largest market share in the refrigeration coolers market. The benefits of installing an evaporator in any process setup are typically sturdy and have a long life span. Also, the operating costs of these components are typically low after installation. They have a high safety rating if proper routine maintenance is performed. They are energy efficient, have more precise temperature control, and lower leaving temperature capabilities. The rising number of refrigerated warehouses is the prime factor for the growth of the market for evaporators as well as air coolers. It is more cost-effective to build an entirely new refrigerated warehouse than to retrofit it with the required technology.

Rising inclination toward fresh goods will continue to drive the market for the demand for cold storage warehousing. To facilitate expansion in imports and exports of perishables, there has been an increase in the construction of new cold storage warehouses on or near ports, as well as at chief trade gateways and border crossings. Cold chain service providers are also investing heavily in such facilities. These factors would contribute to the growth of the evaporator and air cooler market in the refrigeration coolers market.

Commercial: The largest segment of the refrigeration coolers market, by Application

The commercial applications of the refrigeration coolers market are expected to account for the largest market share during the forecast period. The commercial applications cover a wide range of premises from small cafes to supermarkets and refrigeration requirements from frozen to chilled produce in different areas, including hypermarkets, mini stores, convenience stores, grocery stores, hospitality centres, and small retail stores.

For larger supermarkets, energy use is typically considered as a whole, including the building HVAC, water use, lighting, and commercial refrigeration, with heat recovery being a key contributor to minimizing energy consumption, particularly where space heating is a seasonal requirement. Hence, here the use of refrigeration cooling equipment plays a key role. Hence, commercial applications are expected to provide an opportunistic environment for the refrigeration coolers market growth.

APAC has the largest market share in the refrigeration coolers market

APAC is expected to be the fastest-growing market for refrigeration coolers market during the forecast period. APAC comprises countries such as China, India, and Japan, which are leading countries globally with higher refrigerated warehouse capacity. Consequently, the global market players are experiencing strong demand from countries such as China, India, Japan, and South Korea. The growing population in APAC creates a high demand for food, thereby creating opportunities for food processing facilities in this market.

Furthermore, government subsidies in setting up cold chain networks are resulting in strengthening the cold chain infrastructure across the region. Supermarkets and hypermarkets, convenience stores, and grocery stores are the primary channels of distribution of food in the APAC region. Wider availability of products under one roof, including ready-to-eat food products, has surged the growth in the sales channel. Furthermore, combining products using promotional offers and schemes has been a popular key factor that has promoted the growth of products. Due to the rising demand for such food products and items in commercial areas, the market in APAC for refrigeration coolers is growing

Market Dynamics

Drivers

• Rising Investments in Refrigerated Warehouses/Cold Storage Facilities
• Rising Demand for Frozen and Processed Foods Worldwide
• Rising Demand to Shift to Lower-Gwp Refrigerants

Restraints

• High Installation Costs and Other Expenses

Opportunities

• Increasing Demand for Fmcg Products
• Influx of IoT Fueling Automation in Refrigeration Technologies
• Rising Trend of Walk-In Coolers

Challenges

• Lack of Skilled Personnel Along with High Safety Concerns

Companies Mentioned

• Baltimore Aircoil Company
• Cabero
• Carrier Global
• Centauro Internacional
• Daikin
• Danfoss
• Emerson Electric
• Evapco
• Friterm
• Guntner
• Johnson Controls
• Kelvion
• Kfl
• Koxka
• Lennox International
• Lu-Ve
• Modine Manufacturing
• Onda
• Refrion
• Rivacold
• Roen Est
• Stefani
• Thermofin
• Thermokey
• Walter Roller

For more information about this report visit https://www.researchandmarkets.com/r/nxsl9s

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