Commercial Bar Refrigeration Equipment Market - Introduction
- Commercial bar refrigerators are primarily used to store alcoholic beverages. It is also utilized in the food and beverage wholesale industry including supermarkets, specialty stores, and convenience stores
Commercial Bar Refrigeration Equipment Market - Dynamics
- Rising popularity of commercial bar refrigeration equipment with LED lights among end-users is boosting the market. LED lights in the commercial bar refrigeration equipment are increasingly being used as it extends the lifespan by 40,000 hours as compared to equipment with fluorescent lights which have lifespan around 10,000 hours.
- Increasing demand for energy-efficient refrigeration in the commercial sector is considered to be a key factor propelling the demand for commercial bar refrigeration equipment. Manufacturers follows the guidelines set by the Federal Energy Management Program (FEMP) in order to meet the need of end-users for ENERGY-STAR certified commercial bar refrigeration equipment.
- ENERGY STAR certified commercial bar refrigeration equipment are more energy-efficient as compared to other models available in the market. Manufacturers are adopting advanced technologies and high quality components to design more energy-efficient commercial bar refrigeration equipment and to achieve the ENERGY STAR certification. These ENERGY STAR certified commercial bar refrigeration equipment contain high-efficiency compressors to ensure reduced heat output.
- The benefits offered by energy-efficient models of commercial bar refrigeration equipment include decreasing the utility and maintenance costs for end-users and enhancement of efficiency. This is further expected to drive the market in the near future.
- However, high tax imposed on alcoholic beverages limits their consumption, thereby hampering the commercial bar refrigeration equipment market.
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Commercial Bar Refrigeration Equipment Market: Segmentation Analysis
- Based on product type, the commercial bar refrigeration equipment market can be segmented into commercial beer and cocktail dispensers, commercial glass chillers and frosters, and commercial bottle and wine coolers.
- The commercial beer and cocktail dispensers segment accounted for a major share of the market in 2018. This segment is expected to gain market share and thereby maintain its leading position in the commercial bar refrigeration equipment market during the forecast period. Rising demand for cost-effective, shelf-service beer and cocktail dispensers enable consumers to adopt self-service dispensers. End-users are increasingly adopting commercial beer and cocktail dispensers due to their cost effectiveness and thus, projected to propel the commercial bar refrigeration equipment market in the next few years.
North America to Lead Global Market for Commercial Bar Refrigeration Equipment
- In terms of region, the global commercial bar refrigeration equipment market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa
- North America is likely to dominate the global commercial bar refrigeration equipment market from 2019 to 2027. Increasing consumption of alcoholic beverages and expansion of the end-user sector, which includes hotels and bars, fuels the commercial bar refrigeration equipment market in North America.
- The market in Asia Pacific is anticipated to expand significantly in the near future. The food & beverage industry in countries in Asia, such as China and India, is witnessing significant expansion. The refrigeration industry is driven by rising applications in storing food & beverage items on a large-scale in food outlets, cafes, and bars. This is estimated to be a major factor that drives the demand for commercial bar refrigeration equipment, and thereby boost the commercial bar refrigeration equipment market in the region.
Key Manufacturers Operating in Market
The global commercial bar refrigeration equipment market was moderately fragmented in 2018, due to the presence of few established market players who accounted for a prominent market share. The market is witnessing expansion, thus commercial bar refrigeration equipment manufacturers are focusing on innovations, product development, and are adopting advanced technologies to produce innovative products at low cost in order to meet the changing needs of end-users. Thus, creating a competitive environment in the commercial bar refrigeration equipment market. Key manufacturers operating in the global market are:
- Ali Group
- Continental Refrigerator
- Turbo Air Inc.
- Valpro Commercial Refrigeration
- ONNERA GROUP
- True Manufacturing Company, Inc.
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Global Commercial Bar Refrigeration Equipment Market: Research Scope
Commercial Bar Refrigeration Equipment Market, by Product Type
- Commercial Beer and Cocktail Dispensers
- Commercial Glass Chillers and Frosters
- Commercial Bottle and Wine Coolers
Global Commercial Bar Refrigeration Equipment Market, by Region
- North America
- Rest of North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.