Commercial refrigerators are somehow different from the household versions as they come with self-contained units for condensing beverages. The units can be operated remotely and are specifically designed for commercial use, with a variety of temperature regulators ranging from -18 degrees to +10 degrees Celsius. They are generally used in supermarkets, retail stores, hypermarkets, distribution depots, warehouse stores, and food & wine shops. The refrigeration systems come in a wide range of options such as vending machines, ice machines, trailers, refrigerated display boxes, beverage refrigeration equipment, trucks, and reach-in and walk-in refrigerators.
So, let us look at the fine details based on report insights;
Commercial refrigerators have refrigerants that include R422A, R417A, and R507A. The choice of a refrigerant depends on aspects such as global warming, non-corrosiveness, cost, toxicity, inflammability, thermodynamic properties, leak-detection, erosional properties, and the potential of ozone depletion. In addition to the presence of refrigerants, commercial refrigeration system has compressors. According to a 2015 study on commercial refrigeration equipment, the market was estimated to surpass $31 billion in the same year. This increase was as a result of high demand for packaged beverages as well as expansion in the hospitality industry.
The increase in the consumer banqueting and the global development of retail chains has contributed to the overall growth of the industry too. Just the other day, we have seen the food industry formulating exports of seafood, which has led to a significant reduction of global meat consumption. This has environmental sustainability implications, from which manufacturers have also developed more advanced refrigeration systems to preserve seafood. In addition to reducing meat consumption, there are stringent regulations to prevent further manufacturing of refrigerators that contribute to high global warming.
Today’s good quality wine refrigerators use a magnetic system that is environmentally friendly, with low maintenance requirements, and high energy efficiency that can save up to 30% of the total energy usage. Unlike the traditional commercial refrigerators, the technology behind the new models features the zero emission of greenhouse gases and reduced cost of operation. However, the growth of the industry is likely to be hindered by the increasing cost of fuel and crude oil, meaning the transportation of the refrigerators is expected to decline as a result of the high prices of fuel. However, with the zero-emission technology that offers environmental benefits, less hassle for the operators, and low fuel consumption, new avenues for transportation vehicles are anticipated.
Product and Retail Evaluations
There is an increase in the demand for the transportation refrigeration due to the growing international trade in perishable products. The use of commercial refrigeration is expected to increase given the improvement in technology that puts into consideration the environmental protection and the health of the end users. On the other hand, the retail sector is also expected to increase as the commercial refrigeration offers an opportunity to preserve the perishable products. Supermarkets and other related retail businesses are utilizing the new technology to reduce the infrastructure expenses and eliminate unnecessary maintenance & repair cost, hence maximizing on profitability.
Food Service Insight
According to the report on commercial refrigeration equipment 2015, the food industry is anticipated to expand due to the increasing international trade in perishable goods. The frozen food, sea food, and processed food are some of the key things driving the growth of food and beverage industry globally. Also, the consumer spending behavior is changing, and this has forced changes in the global food trade patterns. The transportation of perishable food has opened up the market for commercial refrigerators because the transportation vehicles must be refrigerated.
Revenue Share Insight
The 2015 report also indicates that the United States dominated the market with about 35% of the total revenue generation in the industry. The revenue is expected to increase by approximately 5% over the next 7 years, which is the forecast period. However, more stringent regulations are anticipated as the demand for energy saving equipment continues to increase. This is specifically geared towards saving on the cost of energy. However, the use of refrigerants with fluorocarbons has been banned in the US since the components have a high potential of depleting the ozone layer. The number of retail stores and outlets is also expected to increase as there is an increase in consumer spending, which will boost the overall food industry.