The commercial refrigeration equipment market in Europe will be worth nearly $20 million by 2019
According to Transparency Market Research, the equipment for commercial refrigeration in Europe will increase by 4.2% by 2019. Transportation and refrigerators&freezers represent more than 1/3 of the total turnover
The report of Transparency, applicable for the 2011-2019 period, along with the compound annual growth rate data for 2013-2019, assesses the entire market for Food&Beverage production and distribution, in terms of volume and revenue, using parameters such as the product (transportation refrigeration equipment, refrigerators&freezers, and other equipment), geography (Europe) and the type of applications and services (production, distribution and sale of products and restaurant services).
Despite the difficult economic situation that the Old Continent is currently facing, the future looks bright for the European commercial refrigeration equipment industry, probably playing a leading role for the upcoming years. In fact, the expansion of retail sector and investment in new outlets will play a prominent role in its revival, increasing the refrigeration equipment availability, such as refrigerators & freezers, which share alone a good percentage of the total revenue.
The new and multiple supermarkets and shopping centers sprung up across Europe, the expansion of existing stores, hotels and bars, together with food exports and global food trade, resulted in a significant increase in the number of people who choose to dine out every day, purchasing, among others, frozen food items. Hence, the increase in the demand for refrigeration equipment, including refrigerators & freezers and means of transport, as well as other services and applications designed for this purpose.
The distribution of growth rates and commercial refrigeration industry expansion in Europe are similarly varied: the study shows that the most important markets after Germany, which thus provides another record thanks to the rapid growth of retail chains in its territory, are Italy, France, the United Kingdom and Scandinavia, respectively. A second place, the one of Italy, which could significantly improve, especially after Expo 2015 in Milan, the international fair on food industry, in which, as is well known, the Bel Paese is dominant.
The analysis also shows that recent solar powered commercial refrigeration systems (CRS) would play a strategic and unprecedented role in the sector development, leading the way to new scenarios and possibilities for energy efficiency. In addition to this, the home automation industry would also play a vital part, with its 24/7 remote monitoring tools, able to identify and correct any leaks or unusual increases in pressure, in order to reduce energy consumption and system costs.
The major industry players seem rather focused on developing innovative equipment and solutions for commercial refrigeration, which could be sustainable and compatible with the environment for all intents and purposes, that is, capable of minimizing emissions of greenhouse gases and energy consumption, through new green and natural refrigerants such as ammonia NH3, hydrocarbons HC, carbon dioxide CO2 and steam, which are already widely used in Europe, as has been identified at the last European Conference on latest technology of refrigeration and air conditioning.