08.07.2016, 19:23
Food Service EquipmentMarket Driven
OREANDA-NEWS. Commercial refrigeration is a crucial part of any food service, as it allows the vendor to keep the food fresh before selling it. The major driver for the global food service equipment (commercial refrigeration) market is the increasing presence of the hospitality industry. With the increasing availability of urban infrastructure in developed regions and the increasing disposable income of consumers, the hospitality industry is experiencing steady growth all over the world. The increasingly hectic lifestyle of urban consumers is also forcing them to eat out regularly, which is another factor driving the demand for commercial refrigeration services.
Technological Advancement in Food Service Equipment Drives Demand
The advancement in refrigeration technologies over the last few years has also helped the global commercial refrigeration market immensely. The cost-effectiveness of food service equipment has become increasingly important for the hospitality industry due to its direct impact on the company’s profit margins, driving the demand for advanced commercial refrigeration products.
High Installation Costs Restrict Use of Food Service Equipment
Technological Advancement in Food Service Equipment Drives Demand
The advancement in refrigeration technologies over the last few years has also helped the global commercial refrigeration market immensely. The cost-effectiveness of food service equipment has become increasingly important for the hospitality industry due to its direct impact on the company’s profit margins, driving the demand for advanced commercial refrigeration products.
High Installation Costs Restrict Use of Food Service Equipment
However, the prohibitively high capital investment required to install top-notch food service equipment has restrained the growth of the global market. While large international players can afford to install advanced commercial refrigeration services, new players have to make do with older technology. This is a key restraint on the global food service equipment market, but is likely to be ameliorated over the forecast period.
Walk Ins Dominate Global Commercial Refrigeration Market
Walk ins held the largest share in the revenue of the global food service equipment market in 2014. Walk ins are preferred by vendors due to the higher convenience they provide to customers and accounted for close to one million commercial refrigeration units in 2013. Even though walk ins are expected to remain the leading segment of the global commercial refrigeration equipment market till 2020, the beverage dispensers segment is likely to exhibit the highest growth rate of all product segments. Other major product types in the global commercial refrigeration market include ice machines, glass door merchandisers, refrigerated vending machines, commercial fridges/freezers, ice cream cabinets, and blast freezers.
Walk Ins Dominate Global Commercial Refrigeration Market
Walk ins held the largest share in the revenue of the global food service equipment market in 2014. Walk ins are preferred by vendors due to the higher convenience they provide to customers and accounted for close to one million commercial refrigeration units in 2013. Even though walk ins are expected to remain the leading segment of the global commercial refrigeration equipment market till 2020, the beverage dispensers segment is likely to exhibit the highest growth rate of all product segments. Other major product types in the global commercial refrigeration market include ice machines, glass door merchandisers, refrigerated vending machines, commercial fridges/freezers, ice cream cabinets, and blast freezers.
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