The Walk-In Refrigerator market is projected to grow at a CAGR of 5.60% over the forecast period of 2017-2023. Walk-In refrigerators provide large storing capacities to store food at safe temperatures and away from harmful chemicals and bacteria. The demand for walk-in refrigerators market will grow on account of rising number of restaurants, supermarkets, e-grocers, pharmacies etc. Also, increasing need for the preservation of food, beverages, pharmaceuticals, and the likes, from bacterial infestation and contamination will boost the demand for these refrigerators. The rising research and development expenditure to introduce new and technologically advanced products will augment the demand for walk-in refrigerators. However, the high initial costs will restrain the demand for these refrigerators in the coming five years. The North American region will hold a significant share of the market caused by the early adoption of technology and the presence of some key market players making the availability and accessibility of these products easier. The Asia Pacific market will grow at an impressive rate owing to the rising number of high-end restaurants and increasing pharmaceutical research facilities in emerging economies like China, India and others.
Along with this, many of the key vendors are providing personalized solutions for the individual user’s needs, thus increasing its usability and demand. However, the high initial costs will be a restraining factor to the market. Geographically, the North American Region covers a significant share of the market because of earlier adoption of technology and the high demand for ready-to-eat and frozen products. The Asia Pacific region will see many growth opportunities with the increasing disposable income and government policies that favoring safer preservation of food, beverages and medical items and supplies.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Significant drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the event, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the critical factors affecting the global market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top-down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the Walk-In Refrigerator value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and adequate understanding of the Walk-In Refrigerator Market.
Major industry players profiled as part of the report are Foster Refrigerator, Kolpak, Master-Bilt, Nor-Lake, Inc., US Cooler, and CoolBot among others.
The Walk-In Refrigerator Market has been analyzed through the following segments:
Grocery Stores and Food Banks
Bars and Breweries
The Middle East and Africa