The market for commercial refrigeration equipment in Latin America is highly dynamic and derives much of its growth from the growing need for energy efficient equipment, continual advancements in refrigeration technologies, and the expanding tourism sector in the region.
The increasing implementation of several regional environmental and energy regulations, such as Energy Efficiency Program for Latin America and the Caribbean (PALCEE) and Regional Energy Information System (SIER), by Latin America Energy Organization (OLADE) is also expected to boost this regional market substantially. Furthermore, the demand for new and more units, boosted by the economic growth and the augmenting consumerism, is likely to support this market over the forthcoming years.
The Latin America market for commercial refrigeration equipment is characterized by the increasing demand for new product installations against the replacement demand observed in developed markets in Europe and North America. In 2016, the total opportunity in this market stood at US$927.4 mn. Progressing at a CAGR of 6.50% between 2017 and 2025, the market expects to attain a value of US$1,619.0 mn by the end of 2025.
The Latin America market for commercial refrigeration equipment is spread across Brazil, Mexico, Argentina, Chile, and the Rest of Latin America. Among these, Brazil has surfaced the key contributor to this regional market. With a share of 38%, Brazil led the overall market in 2016 and is anticipated to continue as the dominant domestic market for commercial refrigeration equipment in Latin America.
With Brazil being a prominent exporter of fruit juices, soy beans, fresh and frozen chicken, poultry meat, meat preparations, and oil cakes, the exuberant export of perishables from this country has been driving the adoption of commercial refrigeration equipment here. The growing demand for stored and refrigerated food items, thanks to the rise of the country’s travel and tourism industry, is likely to boost the Brazil commercial refrigeration equipment market in the near future.
Brazil is closely followed by Mexico in terms of the uptake of commercial refrigeration equipment, thanks to the significant growth of the processed and packaged food industry in this country. The presence of a robust food processing industry with renowned Mexican brands such as Bimbo, Lala, Gruma, and Herdez, with a well-distributed network across Latin America, reflects greatly on the usage of commercial refrigeration equipment in this country, leading to a phenomenal growth of this Mexican market over the next few years. The augmenting demand for ready-to-eat and frozen foods is also expected to propel the commercial refrigeration equipment in this country in the years to come.
Transportation refrigeration equipment, refrigerator and freezer, beverage refrigeration, and commercial refrigeration equipment parts are the main products available in the Latin America market for commercial refrigeration equipment. Refrigerators and freezers witness a higher demand from end users. In 2016, this segment led the market with a share of 37.4% and is projected to continue doing so over the forthcoming years.
Food services, food and beverage retail, food and beverage distribution, and food and beverage production are the prime application areas of commercial refrigeration equipment in Latin America. The demand for these refrigeration devices has been greater from the food and services segment. Analysts anticipate this scenario to remain same in the near future.
Lennox International Inc., Hussmann International Inc., United Technologies Corp., Daikin Industries Ltd., Dover Corp., Illinois Tool Works Inc., Beverage-Air Corp., and Metalfrio Solutions SA are the key manufacturers of commercial refrigerator equipment in Latin America.
Commercial refrigeration Equipment Market to Gain Significantly Owing to Rising Demand from Food and Beverage Sector
The rise in installation of various environment protection regulation programs will help boost the global commercial refrigeration equipment market. The increasing need for energy efficient devices and continuous advancement in refrigeration technologies will promote the tourism sector, thereby boosting the commercial refrigeration equipment market as well. Furthermore, the improving and rapidly accelerating food and beverage sector will further help the market generate significant revenues in the coming years.
Various end users available in the commercial refrigeration equipment market include beverage refrigeration, refrigerator and freezer, transport refrigeration, commercial refrigeration. Among these, the market is dominated by the refrigerator and freezers segment owing to the increasing demand from food and beverage sector.
The general pandemic of the novel Covid softly influenced the business refrigeration gear market. Critical clinical assessment associations were enchanted in the progression of antivirus to fight the COVID-19 pandemic. The bother of lockdown achieved temporary end for events and shows, in this way influencing the food and drink industry when all is said in done. Moreover, the burden of lockdown has impelled individuals to attempt different global foods at home, subsequently improving the market interest chain not long after lockdown was lifted.
There has been an enormous expansion in agrarian and food fares and imports internationally. Development underway, utilization, and exchange of short-lived, prepared, and bundled food things has driven the need to plan and produce proficient and successful refrigeration hardware for the business area. Refrigeration is one successful strategy to store and move transitory food things across and inside countries. Ascend in disposable incomes has brought the spending limit up in financially created just as non-industrial countries. Level of pay in an economy huge effects the spending limit of the populace on utilization of handled and bundled food things.
The Latin America commercial refrigeration equipment market is segmented as below:
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By Product Type |
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By Application |
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By Refrigerant Type |
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1. Preface
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions and Research Methodology
3. Executive Summary: Latin America Commercial Refrigeration Equipment Market
4. Market Overview
4.1. Introduction
4.2. Market Dynamics
4.2.1. Drivers
4.2.2. Restraints
4.2.3. Opportunities
4.3. Key Market Indicators
5. Latin America Commercial Refrigeration Equipment Market Analysis and Forecasts, 2015 – 2025
5.1. Latin America Commercial Refrigeration Equipment Market Overview
5.2. Latin America Commercial Refrigeration Equipment Market Analysis and Forecasts, 2015 – 2025 (US$ Mn)
5.3. Latin America Commercial Refrigeration Equipment Market Forecast, By Product
5.3.1. Transportation Refrigeration Equipment
5.3.2. Refrigerator and Freezer
5.3.3. Beverage Refrigeration
5.3.4. Commercial refrigeration equipment parts
5.3.5. Others
5.4. Latin America Commercial Refrigeration Equipment Market Forecast, By Application
5.4.1. Food Services
5.4.2. Food and Beverage retail
5.4.3. Food and Beverage distribution
5.4.4. Food and Beverage Production
5.4.5. Others
5.5. Latin America Commercial Refrigeration Equipment Market Forecast, By Refrigerant type
5.5.1. Fluorocarbons
5.5.2. Inorganic
5.5.3. hydrocarbons/Natural
5.6. Latin America Commercial Refrigeration Equipment Market Forecast, By Country
5.6.1. Brazil
5.6.2. Mexico
5.6.3. Argentina
5.6.4. Chile
5.6.5. Rest of Latin America
5.7. Latin America Commercial Refrigeration Equipment Market Attractiveness
5.7.1. By Product
5.7.2. By Application
5.7.3. By Refrigerant Type
6. Brazil Commercial Refrigeration Equipment Market Analysis and Forecasts, 2015 – 2025
6.1. Brazil Commercial Refrigeration Equipment Market Overview
6.2. Brazil Commercial Refrigeration Equipment Market Analysis and Forecasts, 2015 – 2025 (US$ Mn)
6.3. Brazil Commercial Refrigeration Equipment Market Forecast, By Product
6.3.1. Transportation Refrigeration Equipment
6.3.2. Refrigerator and Freezer
6.3.3. Beverage Refrigeration
6.3.4. Commercial refrigeration equipment parts
6.3.5. Others
6.4. Brazil Commercial Refrigeration Equipment Market Forecast, By Application
6.4.1. Food Services
6.4.2. Food and Beverage retail
6.4.3. Food and Beverage distribution
6.4.4. Food and Beverage Production
6.4.5. Others
6.5. Brazil Commercial Refrigeration Equipment Market Forecast, By Refrigerant type
6.5.1. Fluorocarbons
6.5.2. Inorganic
6.5.3. hydrocarbons/Natural
6.6. Brazil Commercial Refrigeration Equipment Market Attractiveness
6.6.1. By Product
6.6.2. By Application
6.6.3. By Refrigerant Type
7. Mexico Commercial Refrigeration Equipment Market Analysis and Forecasts, 2015 – 2025
7.1. Mexico Commercial Refrigeration Equipment Market Overview
7.2. Mexico Commercial Refrigeration Equipment Market Analysis and Forecasts, 2015 – 2025 (US$ Mn)
7.3. Mexico Commercial Refrigeration Equipment Market Forecast, By Product
7.3.1. Transportation Refrigeration Equipment
7.3.2. Refrigerator and Freezer
7.3.3. Beverage Refrigeration
7.3.4. Commercial refrigeration equipment parts
7.3.5. Others
7.4. Mexico Commercial Refrigeration Equipment Market Forecast, By Application
7.4.1. Food Services
7.4.2. Food and Beverage retail
7.4.3. Food and Beverage distribution
7.4.4. Food and Beverage Production
7.4.5. Others
7.5. Mexico Commercial Refrigeration Equipment Market Forecast, By Refrigerant type
7.5.1. Fluorocarbons
7.5.2. Inorganic
7.5.3. hydrocarbons/Natural
7.6. Mexico Commercial Refrigeration Equipment Market Attractiveness
7.6.1. By Product
7.6.2. By Application
7.6.3. By Refrigerant Type
8. Argentina Commercial Refrigeration Equipment Market Analysis and Forecasts, 2015 – 2025
8.1. Argentina Commercial Refrigeration Equipment Market Overview
8.2. Argentina Commercial Refrigeration Equipment Market Analysis and Forecasts, 2015 – 2025 (US$ Mn)
8.3. Argentina Commercial Refrigeration Equipment Market Forecast, By Product
8.3.1. Transportation Refrigeration Equipment
8.3.2. Refrigerator and Freezer
8.3.3. Beverage Refrigeration
8.3.4. Commercial refrigeration equipment parts
8.3.5. Others
8.4. Argentina Commercial Refrigeration Equipment Market Forecast, By Application
8.4.1. Food Services
8.4.2. Food and Beverage retail
8.4.3. Food and Beverage distribution
8.4.4. Food and Beverage Production
8.4.5. Others
8.5. Argentina Commercial Refrigeration Equipment Market Forecast, By Refrigerant type
8.5.1. Fluorocarbons
8.5.2. Inorganic
8.5.3. hydrocarbons/Natural
8.6. Argentina Commercial Refrigeration Equipment Market Attractiveness
8.6.1. By Product
8.6.2. By Application
8.6.3. By Refrigerant Type
9. Chile Commercial Refrigeration Equipment Market Analysis and Forecasts, 2015 – 2025
9.1. Chile Commercial Refrigeration Equipment Market Overview
9.2. Chile Commercial Refrigeration Equipment Market Analysis and Forecasts, 2015 – 2025 (US$ Mn)
9.3. Chile Commercial Refrigeration Equipment Market Forecast, By Product
9.3.1. Transportation Refrigeration Equipment
9.3.2. Refrigerator and Freezer
9.3.3. Beverage Refrigeration
9.3.4. Commercial refrigeration equipment parts
9.3.5. Others
9.4. Chile Commercial Refrigeration Equipment Market Forecast, By Application
9.4.1. Food Services
9.4.2. Food and Beverage retail
9.4.3. Food and Beverage distribution
9.4.4. Food and Beverage Production
9.4.5. Others
9.5. Chile Commercial Refrigeration Equipment Market Forecast, By Refrigerant type
9.5.1. Fluorocarbons
9.5.2. Inorganic
9.5.3. hydrocarbons/Natural
9.6. Chile Commercial Refrigeration Equipment Market Attractiveness
9.6.1. By Product
9.6.2. By Application
9.6.3. By Refrigerant Type
10. Rest of Latin America Commercial Refrigeration Equipment Market Analysis and Forecasts, 2015 – 2025
10.1. Rest of Latin America Commercial Refrigeration Equipment Market Analysis and Forecasts, 2015 – 2025 (US$ Mn)
10.2. Rest of Latin America Commercial Refrigeration Equipment Market Forecast, By Product
10.2.1. Transportation Refrigeration Equipment
10.2.2. Refrigerator and Freezer
10.2.3. Beverage Refrigeration
10.2.4. Commercial refrigeration equipment parts
10.2.5. Others
10.3. Rest of Latin America Commercial Refrigeration Equipment Market Forecast, By Application
10.3.1. Food Services
10.3.2. Food and Beverage retail
10.3.3. Food and Beverage distribution
10.3.4. Food and Beverage Production
10.3.5. Others
10.4. Rest of Latin America Commercial Refrigeration Equipment Market Forecast, By Refrigerant type
10.4.1. Fluorocarbons
10.4.2. Inorganic
10.4.3. hydrocarbons/Natural
10.5. Rest of Latin America Commercial Refrigeration Equipment Market Attractiveness
10.5.1. By Product
10.5.2. By Application
10.5.3. By Refrigerant Type
11. Competition Landscape
11.1. Market Player – Competition Matrix
11.2. Market Share Analysis by Company (2016)
11.3. Company Profiles (Details – Overview, Financials, SWOT Analysis, Strategy)
11.3.1. Metalfrio Solutions SA
11.3.1.1. Company details
11.3.1.2. Company description
11.3.1.3. Business Overview
11.3.1.4. SWOT analysis
11.3.1.5. Financials
11.3.1.6. Strategic overview
11.3.2. Beverage-Air Corporation
11.3.2.1. Company details
11.3.2.2. Company description
11.3.2.3. Business Overview
11.3.2.4. SWOT analysis
11.3.2.5. Strategic overview
11.3.3. Illinois Tool Works, Inc.
11.3.3.1. Company details
11.3.3.2. Company description
11.3.3.3. Business Overview
11.3.3.4. SWOT analysis
11.3.3.5. Financials
11.3.3.6. Strategic overview
11.3.4. Dover Corporation
11.3.4.1. Company details
11.3.4.2. Company description
11.3.4.3. Business Overview
11.3.4.4. SWOT analysis
11.3.4.5. Financials
11.3.4.6. Strategic overview
11.3.5. Daikin Industries, Ltd.
11.3.5.1. Company details
11.3.5.2. Company description
11.3.5.3. Business Overview
11.3.5.4. SWOT analysis
11.3.5.5. Financials
11.3.5.6. Strategic overview
11.3.6. United Technologies Corporation - (Climate, Controls and Security Unit)
11.3.6.1. Company details
11.3.6.2. Company description
11.3.6.3. Business Overview
11.3.6.4. SWOT analysis
11.3.6.5. Financials
11.3.6.6. Strategic overview
11.3.7. Hussmann International, Inc.
11.3.7.1. Company details
11.3.7.2. Company description
11.3.7.3. Business Overview
11.3.7.4. SWOT analysis
11.3.7.5. Financials
11.3.7.6. Strategic overview
11.3.8. Lennox International, Inc.
11.3.8.1. Company details
11.3.8.2. Company description
11.3.8.3. Business Overview
11.3.8.4. SWOT analysis
11.3.8.5. Financials
11.3.8.6. Strategic overview
12. Key Takeaways
List of Tables
Table 1: Latin America Commercial Refrigeration Equipment Market Forecast, By Product, 2015–2025 (US$ Mn)
Table 2: Latin America Commercial Refrigeration Equipment Market Forecast, By Application, 2015–2025 (US$ Mn)
Table 3: Latin America Commercial Refrigeration Equipment Market Volume Forecast, By Refrigerant type, 2015–2025 (Mn Metric Tons)
Table 4: Latin America Commercial Refrigeration Equipment Market Forecast, By Refrigerant type, 2015–2025 (US$ Mn)
Table 5: Latin America Commercial Refrigeration Equipment Market Forecast, By Country, 2015–2025 (US$ Mn)
Table 6: Brazil Commercial Refrigeration Equipment Market Forecast, By Product, 2015–2025 (US$ Mn)
Table 7: Brazil Commercial Refrigeration Equipment Market Forecast, By Application, 2015–2025 (US$ Mn)
Table 8: Brazil Commercial Refrigeration Equipment Market Volume Forecast, By Refrigerant type, 2015–2025 (Mn Metric Tons)
Table 9: Brazil Commercial Refrigeration Equipment Market Forecast, By Refrigerant type, 2015–2025 (US$ Mn)
Table 10: Mexico Commercial Refrigeration Equipment Market Forecast, By Product, 2015–2025 (US$ Mn)
Table 11: Mexico Commercial Refrigeration Equipment Market Forecast, By Application, 2015–2025 (US$ Mn)
Table 12: Mexico Commercial Refrigeration Equipment Market Volume Forecast, By Refrigerant type, 2015–2025 (Mn Metric Tons)
Table 13: Mexico Commercial Refrigeration Equipment Market Forecast, By Refrigerant type, 2015–2025 (US$ Mn)
Table 14: Argentina Commercial Refrigeration Equipment Market Forecast, By Product, 2015–2025 (US$ Mn)
Table 15: Argentina Commercial Refrigeration Equipment Market Forecast, By Application, 2015–2025 (US$ Mn)
Table 16: Argentina Commercial Refrigeration Equipment Market Volume Forecast, By Refrigerant type, 2015–2025 (Mn Metric Tons)
Table 17: Argentina Commercial Refrigeration Equipment Market Forecast, By Refrigerant type, 2015–2025 (US$ Mn)
Table 18: Chile Commercial Refrigeration Equipment Market Forecast, By Product, 2015–2025 (US$ Mn)
Table 19: Chile Commercial Refrigeration Equipment Market Forecast, By Application, 2015–2025 (US$ Mn)
Table 20: Chile Commercial Refrigeration Equipment Market Volume Forecast, By Refrigerant type, 2015–2025 (Mn Metric Tons)
Table 21: Chile Commercial Refrigeration Equipment Market Forecast, By Refrigerant type, 2015–2025 (US$ Mn)
Table 22: Rest of Latin America Commercial Refrigeration Equipment Market Forecast, By Product, 2015–2025 (US$ Mn)
Table 23: Rest of Latin America Commercial Refrigeration Equipment Market Forecast, By Application, 2015–2025 (US$ Mn)
Table 24: Rest of Latin America Commercial Refrigeration Equipment Market Volume Forecast, By Refrigerant type, 2015–2025 (Mn Metric Tons)
Table 25: Rest of Latin America Commercial Refrigeration Equipment Market Forecast, By Refrigerant type, 2015–2025 (US$ Mn)
List of Figures
Figure 1: Latin America Commercial Refrigeration Equipment Market Revenue Projections, 2015 - 2025 (US$ Mn)
Figure 2: Latin America Commercial Refrigeration Equipment Market Attractiveness Analysis, By Product
Figure 3: Latin America Commercial Refrigeration Equipment Market Attractiveness Analysis, By Application
Figure 4: Latin America Commercial Refrigeration Equipment Market Attractiveness Analysis, By Refrigerant type
Figure 5: Brazil Commercial Refrigeration Equipment Market Revenue Projections, 2015 - 2025 (US$ Mn)
Figure 6: Brazil Commercial Refrigeration Equipment Market Attractiveness Analysis, By Product
Figure 7: Brazil Commercial Refrigeration Equipment Market Attractiveness Analysis, By Application
Figure 8: Brazil Commercial Refrigeration Equipment Market Attractiveness Analysis, By Refrigerant type
Figure 9: Mexico Commercial Refrigeration Equipment Market Revenue Projections, 2015 - 2025 (US$ Mn)
Figure 10: Mexico Commercial Refrigeration Equipment Market Attractiveness Analysis, By Product
Figure 11: Mexico Commercial Refrigeration Equipment Market Attractiveness Analysis, By Application
Figure 12: Mexico Commercial Refrigeration Equipment Market Attractiveness Analysis, By Refrigerant type
Figure 13: Argentina Commercial Refrigeration Equipment Market Revenue Projections, 2015 - 2025 (US$ Mn)
Figure 14: Argentina Commercial Refrigeration Equipment Market Attractiveness Analysis, By Product
Figure 15: Argentina Commercial Refrigeration Equipment Market Attractiveness Analysis, By Application
Figure 16: Argentina Commercial Refrigeration Equipment Market Attractiveness Analysis, By Refrigerant type
Figure 17: Chile Commercial Refrigeration Equipment Market Revenue Projections, 2015 - 2025 (US$ Mn)
Figure 18: Chile Commercial Refrigeration Equipment Market Attractiveness Analysis, By Product
Figure 19: Chile Commercial Refrigeration Equipment Market Attractiveness Analysis, By Application
Figure 20: Chile Commercial Refrigeration Equipment Market Attractiveness Analysis, By Refrigerant type
Figure 21: Rest of Latin America Commercial Refrigeration Equipment Market Revenue Projections, 2015 - 2025 (US$ Mn)
Figure 22: Rest of Latin America Commercial Refrigeration Equipment Market Attractiveness Analysis, By Product
Figure 23: Rest of Latin America Commercial Refrigeration Equipment Market Attractiveness Analysis, By Application
Figure 24: Rest of Latin America Commercial Refrigeration Equipment Market Attractiveness Analysis, By Refrigerant type
Figure 25: Global Refrigerated Counter Market Share Analysis (2016)
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Commercial Refrigeration Equipment Market
