TechNavio, a global research firm, has published a research report, Walk-in Refrigeration Market in the US. The report finds increasing use of green technology and renewable energy sources as a key trend affecting that sector. The analysis is for the forecast period 2014-2018.
As per research analysis, the walk-in refrigeration market in the U.S. is increasingly adopting green technology and using renewable energy sources to create energy-efficient, eco-friendly walk-in refrigerators. The government is adopting green initiatives and implementing the use of renewable energy sources to promote clean energy. Moreover, the advent of hybrid systems and nonpolluting refrigerants is leading to the provision and adoption of green technology by vendors and end users, respectively, said the report. In addition, vendors are developing walk-in refrigeration systems that are compatible with eco-friendly refrigerants. Further, companies are manufacturing walk-in refrigerators to meet/exceed the guidelines set by the Energy Star program and the EnergyGuide labels.
One of the senior analysts and co-author of the report said, “The walk-in refrigeration market in the U.S. is highly fragmented. The market has well-diversified international, regional, and local vendors, competing in terms of quality, durability, and reliability. Moreover, these small vendors are facing difficulties in catering to the large-scale demand for commercial refrigeration equipment from large enterprises because they have limited production capacity.”
He added, “The competitive environment in this market is expected to intensify with an increase in technological innovations and an increase in mergers and acquisitions in the future. It is expected that international players will grow inorganically during the period 2014-2018 by acquiring regional or local players.”