Latin America Industrial Refrigeration Equipment Market

Latin America Industrial Refrigeration Equipment Market: Overview

Change in food habits and advancement in refrigeration technology are key factors driving demand for industrial refrigeration equipment in Latin America. Industrial refrigeration equipment enables to preserve food and beverages for longer duration. Hence, it is widely adopted in food and beverage industry.

Further, emergence of super markets, grocery stores, and restaurants are aiding the expansion of Latin America industrial refrigeration market.

Owing to growth in demand for specific purpose based industrial refrigeration equipment, there have been technological developments in the equipment. Lately, walk-in coolers are widely adopted in food and beverage industry. Wide adoption rate is attributed to its energy efficiency and regulations favoring energy conservations. As a result, Latin America industrial refrigeration equipment market is anticipated to grow in coming years.

The upcoming report on Latin America industrial refrigeration equipment provides comprehensive details about various segments driving growth of the market. It includes detail about role of drivers and trends in shaping Latin America industrial refrigeration equipment market in between 2019-2028.

Latin America Industrial Refrigeration Equipment Market: Notable Development

A new Ecodesign and Energy labelling regulation has been formed that aims at regulation of energy usage for industrial refrigeration equipment. The regulation will come into effect in March 2021. It focuses on strict regulation regarding usage of energy of industrial refrigeration equipment. The regulation is likely to change existing products in detail.

The agenda includes product specification. The specifications for industrial refrigeration equipment are clearly mentioned in the new regulation. Furthermore, it also specifies standardized testing methods for wide range of refrigeration equipment.

Officially, implementation of ecodesgin specifications and energy labelling will begin in next March. The specification will be implemented at direct point of sales.

In 2019, Ecodesign and Energy Labelling Regulations, when came into effect, emerged as a game changer for industrial refrigeration vertical. Similarly, the upcoming regulation is likely to phase out certain refrigeration equipment. Subsequently, demand for best available technologies will enhance in the duration of forecast period.

Latin America Industrial Refrigeration Equipment Market: Key Trends

 Rising demand for convenience food and beverages, increasing disposable income, and influence of western lifestyle is bringing shift in the food habit of population in Latin America.

Demand for frozen food items is entailing adoption of refrigeration equipment. Further, increase in number of large stores has compelled small restaurants and unorganized grocery retail stores to upgrade with latest electronic appliances including refrigeration equipment.

These features are boosting growth of Latin America Industrial Refrigeration Equipment Market.

Further, trend of ready-to-eat food is offering tremendous demand from food outlets and new restaurants in the region. This, in turn, will support development of Latin America industrial refrigeration equipment market in near future.

Latin America Industrial Refrigeration Equipment Market: Competitive Analysis

The Latin American industrial refrigeration equipment market is consolidated in nature. There is moderate competition among the players. Key players in the market are involved in the product development to keep up with the growing demand for industrial refrigeration equipment.

60% of the market share is explicitly divided into six major players of the Latin American industrial refrigeration equipment market. Among six dominant players, Electrolux AB accounts for maximum share, owing to its widespread presence in various countries of the region, such as Argentina, Chile, Mexico, and Brazil.

Some of the key players in the Latin American industrial refrigeration equipment market are-

• Daikin Industries Ltd.
• AHT Cooling Systems GmbH
• Dover Corporation
• Illinois Tool Works Inc.
• Metalfrio Solutions
• Hussmann Corporation
• United Technologies Corporation
• Lennox International Inc.
• Johnson Controls International PLC

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 regional analysis covers:

• North America (U.S. and Canada)
• Latin America (Mexico, Brazil, Peru, Chile, and others)
• Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
• Eastern Europe (Poland and Russia)
• Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
• Middle East and Africa (GCC, Southern Africa, and North Africa)

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.