Market Research Report
Commercial Refrigeration: Market Analysis and Forecasts for Commercial Refrigeration and Sustainable Solutions
|Commercial Refrigeration: Market Analysis and Forecasts for Commercial Refrigeration and Sustainable Solutions|
Published: August 3, 2022
Guidehouse Insights (formerly Navigant Research)
Content info: 47 Pages; 48 Tables, Charts & Figures
Delivery time: 1-2 business days
Global warming is not just a one-industry issue, so collaborating to build teams across industry, government, and finance is essential for achieving decarbonization. Considering that refrigeration consumes more than 50% of supermarket energy, sustainable solutions in the commercial refrigeration industry, such as those promoting high efficiency and reducing greenhouse gas emissions, offer substantial potential for market growth. Decarbonization is driving the sustainable refrigeration market; policies support the adoption of low global warming potential (GWP) refrigerants and programs encourage high efficiency systems. Additionally, major retailers are investing in sustainable solutions to demonstrate environment, social, and governance responsibility. As the technology continues to advance, financing options have made sustainable refrigeration in the commercial sector more affordable.
Although supportive policies are a market driver, a potential delay in the market's transformation is slow approvals for those policies. Also, because sustainable solutions are usually expensive, customers may hesitate to adopt them. In addition, low GWP refrigerants have demonstrated some drawbacks and the lack of technicians and contractors interested in sustainable refrigeration solutions may delay market growth.
This Guidehouse Insights report forecasts the commercial refrigeration market in North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa through 2031. Forecasts are segmented into the equipment used for commercial refrigeration and service and digital, which includes the associated service, maintenance, and controlling digital solutions. Forecast estimates include the market supporting food retail (e.g., supermarkets, convenience stores, and small grocery stores) and food services (e.g., caterers and cafeterias).The equipment forecast also estimates the sustainable refrigeration market for high efficiency and natural refrigerant adoption.