Underbars refrigeration market analysis

According to the Underbars refrigeration market analysis, our research analysts at Technavio predict that the global underbars refrigeration market will grow steadily during the next four years and post a CAGR of almost 6% by 2021. This market research analysis identifies the demand for chilled beverages as one of the primary growth factors for this market. It has been observed that the underbars refrigeration market is directly proportional to the growth of the alcoholic beverage industry.

During the next few years, countries in the APAC, especially China and India will witness a significant increase in the demand for alcoholic drinks. Also, there is a growing preference of people across the world towards consuming alcoholic drinks at social gatherings and the increased spending in pubs and lounges. This will boost the demand for alcoholic beverages and will consequently increase the demand for underbars refrigeration equipment.

Different beverages have the need to be stored at different temperatures. For instance, white wine should be stored at a temperature of 46°F-56°F, whereas, red wine has to be stored at a temperature of 58°F-68°F. This demands the need for separate coolers that not only increase sourcing costs but also increases the consumption of energy. As a result, end-users will start preferring dual-zone underbars refrigerators which will induce vendors to provide underbars refrigerators in various models with digital temperature controls.

Underbars refrigeration market forecast: Competitive landscape and key vendors

The market is characterized by the presence of a considerable number of vendors. Since all players compete to attain maximum underbars refrigeration market share, the market’s competitive environment is intense. To enhance their customer base and improve market positions, underbar fridge manufacturers are focusing on offering innovative systems that can be combined with other technologies and are also concentrating on developing energy-efficient underbars refrigeration equipment.

The leading vendors in the underbars refrigeration market

• Perlick
• SKOPE
• True Manufacturing
• Williams Refrigeration

Underbars refrigeration market segmentation by product type

• Bottle coolers
• Chillers and fosters

During 2016, the bottle coolers segment accounted for the major shares and dominated this market. Bottle coolers are used to keep bottled beverages such as soda, water, and beer. The increased demand from the end-users for bottle coolers refrigeration units that provide ease of use, convenience, and easy accessibility to beverages, which induces manufacturers to introduce new products that cater to the needs of the customers will be a major factor that fuels the growth of underbars refrigeration market value.

Underbars refrigeration market growth by geographical segmentation

• Americas
• APAC
• EMEA

This market study estimates that in terms of geographical regions, the Americas will be the major revenue contributor to the market throughout the forecast period. The presence of several end-users such as bars, catering units, clubs, and hotels and restaurants and the sophisticated beverage requirement of people in countries such as the US, that drives the import of specialty beverages like beer and wine, will significantly increase the adoption of underbars refrigeration units in the Americas in the coming years.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global underbars refrigeration market?
• What are the key market trends impacting the growth of the global underbars refrigeration market?
• What are the challenges to market growth?
• Who are the key vendors in the global underbars refrigeration market?
• What are the market opportunities and threats faced by the vendors in the global underbars refrigeration market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global underbars refrigeration market?

Technavio also offers customization on reports based on specific client requirement.

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