Technavio, a tech-focused market research organization, has issued a new report on the global underbars refrigeration market, which is projected to grow at a CAGR of close to 6% during the forecast period 2017-2021.
Based on geographical segmentation, Technavio market research analysts classify the global underbars refrigeration market into the following leading regions: the Americas, APAC, and EMEA.
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Underbars refrigeration market in Americas: The increasing imports of specialty beverages like beer and wine is driving the growth of the underbars refrigeration market in the Americas. The US is the largest region in the American market that caters to the demands of catering units, bars, clubs, and hotels and restaurants. The vendors in the market are investing in the upgrades of underbars refrigeration as end-users are concentrating on reducing their carbon footprint and energy consumption. The introduction of new products will boost the adoption of this refrigeration equipment in the American market.
According to Mantri Charan Kumar, a lead analyst at Technavio, “The introduction of new beverage products and flavors and the increasing number of breweries, wineries, and distilleries will boost the sale of these machines in the American market. The economic development in the Latin American countries will encourage vendors to establish production plants to capitalize on the growing development of end-users in the region. Additionally, the emergence of craft breweries and a high demand for beer produced by local brewers will have a positive impact on the market growth in this region.”
Underbars refrigeration market in EMEA: The introduction of technologically advanced equipment and replacement of old products will help in the growth of the market in EMEA. The vendors are launching equipment such as remote cooled models and eco-friendly underbars refrigerators to increase the number of the consumers and boost profitability. The rising number of bars, catering units, clubs, and hotels and restaurants will raise the requirement of refrigeration capabilities in the region.
Underbars refrigeration market in APAC: The rapid growth of the food and beverage sector will make APAC the fastest growing region in the global market. China, Japan, and India are among the major countries contributing to the demand for underbars refrigerators in the region. The increasing average disposable income in countries like India and China will help in the development of the market in this region. The rising rate of urbanization will subsequently increase the demand for storing chilled beverages and fuel the growth of underbars refrigeration in the APAC market.
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The leading retailers operating in the global underbars refrigeration market are:
- Perlick
- SKOPE
- True Manufacturing
- Williams Refrigeration
Other prominent players in the market include Beverage-Air, Bromic, Continental Refrigerator, Delfield, Haier, and Micro Matic.
A comprehensive study is available in the Technavio report named, ‘Global Underbars Refrigeration Market 2017-2021’. Technavio also customizes reports by other regions and precise sections upon request.
Other related reports:
- Global Commercial Refrigeration Market 2016-2020
- Global Refrigerated Cabinet Market 2016-2020
- Global Refrigerator Market 2016-2020
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