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.
To understand how our report can bring difference to your business strategy, Ask for a brochure
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.
Stuck in a neck-to-neck competition with other brands? Request a custom report
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
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold 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.