Commercial refrigeration equipment is a variety of refrigeration equipment used in commercial service places (such as KTV, discos, nightclubs, bars, hotels, restaurants, cafes, schools, hospitals, laboratories, yachts and other special application places) (applied to food preservation, freezing, refrigeration and beverage preservation, display and sales).
With the improvement of living standards, people's requirements for food safety and the quality of fresh fruits and vegetables are gradually improving, and the new retail model is also gradually advancing. Throughout the world, the regions with large market demand for commercial refrigeration equipment are developed countries such as Europe and the United States, followed by Asia Pacific developed countries such as New Zealand, Japan and South Korea.
Combined with the current situation, domestic GDP is still at the bottom stage, so the industry has a certain counter cyclical attribute. With the upgrading of domestic consumption, the penetration of convenience stores into second and third tier cities and the promotion of the new retail model, the demand for commercial refrigeration equipment is expected to continue to boom.
At present, the Chinese market mainly imports some high-end products from the United States, Europe and Japan. However, with the slowdown of market demand and the technical progress of domestic manufacturers, domestic commercial refrigeration equipment will be mainly produced domestically in the future, and the overseas market will continue to expand. Therefore, with the development of domestic commercial refrigeration equipment industry, "less imports and more exports" will be the inevitable trend of China's active commercial refrigeration equipment market.
Upstream and downstream analysis of commercial refrigeration equipment
1. Industrial chain analysis of commercial refrigeration equipment
2. Analysis of upstream supply of commercial refrigeration equipment industry
Commercial refrigeration equipment is mainly composed of compressor, heat exchanger, evaporator unit, industrial frame and other components. Raw materials are an important part, accounting for the largest proportion of costs. It is very important and necessary to pay attention to raw material procurement.
Generally, raw materials need to be outsourced. Price, punctuality and quality are very critical indicators to maintain a competitive market position and maximize profits. In fact, price, punctuality or quality are only one of the key factors affecting supply and competitiveness. The lowest total production cost is the total index to maximize profits.
For producers, the total production cost can be controlled through global procurement, localized procurement and centralized procurement. More procurement can be concentrated on fewer suppliers, so that large-scale procurement can be carried out to achieve large-scale and high efficiency. Now, logistics and information are developed, which is conducive to global procurement, localized procurement and centralized procurement. In the future, more manufacturers will attach importance to raw material procurement through strategic procurement.
3. Downstream industry demand change factors
Refrigeration equipment is required in the whole process of food transportation, storage, sales and service, including refrigeration display cabinets, commercial refrigerators in kitchens, ice machines, refrigerated warehouses and a mobile refrigerator called CRB (Coldroll boxes). It also includes beverage vending machines. A small mobile refrigeration system with unmanned Internet management has been developed. The mobile refrigerator (CRB) is a product needed in the process from farm to table. The product has developed rapidly in Japan, Europe and the United States.
Facing the rapid development of urbanization and accelerated pace of life, distribution points in the food retail industry have experienced a fundamental revolution. 24-hour convenience stores and small and medium-sized supermarkets have been widespread among urban residents, and this trend has provided great business opportunities for cold chain equipment manufacturers.
Distribution of Commercial Refrigeration Equipment in China
Regional distribution of commercial refrigeration equipment production in China
The production of commercial refrigeration equipment in China is mainly distributed in Anhui Province, Guangdong Province, Jiangsu Province, Zhejiang Province, Shandong Province, Henan Province, Chongqing City, Hubei Province, Guizhou Province, Shanghai City, etc. Among them, Anhui Province has achieved the first cumulative output, followed by Guangdong Province. Among them, Anhui, Guangdong, Jiangsu, Zhejiang and Shandong are the five major production areas of commercial refrigeration equipment in China. The total production scale of these five production areas has accounted for 70% of the total production scale of commercial refrigeration equipment in China.
Regional distribution of commercial refrigeration equipment consumption in China
Commercial refrigeration equipment in China is mainly used in supermarkets, restaurants, entertainment places and other places. With the improvement of the living standard of Chinese residents, the domestic demand for commercial refrigeration equipment continues to increase, in which the consumption of commercial refrigeration equipment is mainly concentrated in regions with relatively developed industries (Beijing, Shanghai and Guangzhou are the main consumer regions of commercial refrigeration equipment in China).
According to the statistics and forecasts of QYR (Hengzhou Bozhi), the global market sales of commercial refrigeration equipment will reach 17.4 billion dollars in 2021, and is expected to reach 23.6 billion dollars in 2028, with a CAGR of 4.4% (2022-2028). China's demand for commercial refrigeration equipment is expanding. Compared with 2019, the sales volume in China in 2026 will grow by 33.33%.
In terms of product categories, commercial display cabinets are the most popular in the market, accounting for 56.75% of the market share of commercial refrigeration equipment in 2019. After that, commercial refrigerators accounted for 27.43% and ice makers accounted for 4.71%.
From the perspective of application, supermarkets will be the largest consumer end of the market for a long time, accounting for 46%~48% of the consumption of commercial refrigeration and refrigeration equipment. In 2019, the sales of supermarkets, restaurants and entertainment venues accounted for 48.53%, 24.53% and 17.79% respectively.
The major manufacturers of commercial refrigeration equipment in the world include Carrier Commercial Refrigeration, Haier, Hoshizaki International, Panasonic and Dover Corporation. The top five manufacturers account for nearly 30% of the global share, while the top ten manufacturers account for more than 47% of the global share.
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