Pune, India, May 04, 2023 (GLOBE NEWSWIRE) -- The global vacuum cooling equipment market size stood at USD 822.0 million in 2022. The industry is estimated to expand from USD 847.3 million in 2023 to USD 1,071.6 million by 2030, exhibiting a CAGR of 3.4% over the forecast period. The rise is driven by the increasing product adoption in the cold chain industry. Fortune Business Insights™ provides this information in its research report, titled “Vacuum Cooling Equipment Market, 2023-2030”.
Key Industry Development:
July 2022 – Atlas Copco’s Edwards Vacuum completed the takeover of Ceres Technologies’ assets. The company is a leading manufacturer of gas and vapor delivery equipment.
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Report Highlights:
| Report Coverage | Details |
| Forecast Period | 2023-2030 |
| Forecast Period 2023 to 2030 CAGR | 3.4% |
| 2030 Value Projection | 1,071.6 Million |
| Base Year | 2022 |
| Market Size in 2022 | USD 822.0 Million |
| Historical Data for | 2019-2021 |
| No. of Pages | 123 |
| Segments Covered | By Cooling Type, By Type, By Application, and By Region |
| Growth Drivers | Government Appealing Schemes and Growing Demand for Fresh Produce to Drive the Market Expansion |
| Global Power Crisis and Stiff Supply Chain Infrastructure to Impede Product Adoption in the Market |
Key Takeaways:
- Private Player Penetration and Ease of Government Restrictions Stabilized the Market During the Pandemic Period
- Increased Capacity and Efficient Cooling Requirement by the End User to Upend the Air Cooled Equipment Use
- Changing Consumer Preference for Healthy Fresh Goods to Propel the Demand for Inline Vacuum Coolers
- Preference for Gluten-Free Bakeries to Propel the Demand for Baked Goods
- New Active Products and Smart Efficient Products to Gain Strong Market Footing
COVID-19 Impact:
Industry Growth Propelled Due to Peak Consumption of Food and Vegetables
The global market registered stagnant growth driven by the increasing consumption of food and vegetables amid the pandemic period. This is because the products require high preservation and cooling methods that help in raising their freshness and shelf life. However, incentive-based plans and the ease of government restrictions impelled industry expansion over the pandemic period.
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Drivers & Restraints:
Surging Demand for Fresh Produce to Impel Industry Expansion
One of the major factors propelling the vacuum cooling equipment market growth is the escalating demand for fresh produce. This is further supplemented by the growing demand for healthy products such as cookies, pizza, bread, and pies.
However, the industry expansion could be hampered by the rising awareness about a stronger immune system and healthy diet.
Report Coverage:
The report gives in-depth coverage of the vital factors propelling the global industry scenario throughout the forecast period. It further provides an analysis of the key trends impelling the business landscape across various regions. Some of the other components comprise the major steps taken by leading industry participants for securing a competitive edge.
List of Key Players Present in the Market:
- Atlas Copco (Sweden)
- Verhoeven Family of Companies (Netherlands)
- Coldmaxx (China)
- ULVAC (Japan)
- Pfeiffer Vacuum (Germany)
- Focusun Refrigeration Corporation (China)
- Airtech, Inc. (New Jersey)
- ProXes Gmbh (Germany)
- WEC Group (U.K.)
- Durrer Spezialmaschinen AG (Switzerland)
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Segments:
Air-Cooled Segment to Gain Traction Owing to Increased Capacity and Cooling Requirement
On the basis of cooling type, the market is fragmented into water-cooled and air-cooled. The air-cooled segment is estimated to register considerable growth throughout the forecast period. The surge is driven by the rapid cooling and efficient performance of these systems.
Inline Vacuum Coolers Segment to Register Appreciable Growth Driven by Changing Consumer Preference for Healthy Fresh Goods
Based on type, the market for vacuum cooling equipment is categorized into pallet and inline. Of these, the inline segment is anticipated to exhibit notable growth over the projected period. The rise is due to the escalating product adoption and the great demand for fresh fruits and vegetables.
Baked Goods Segment to Emerge Prominent Impelled by Surging Preference for Gluten-Free Bakeries
Based on application, the market is classified into baked goods, fruits and vegetables, meats, and others. The baked goods segment is set to depict a substantial surge throughout the projected period. The growth is impelled by the increasing product demand and shifting consumer focus toward gluten-free bread.
By geography, the market for vacuum cooling equipment is subdivided into Asia Pacific, North America, Latin America, Europe, and the Middle East & Africa.
Regional Insights:
Asia Pacific to Lead Driven by Favorable Government Initiatives
Asia Pacific vacuum cooling equipment market share is set to register appreciable expansion over the forecast period. The rise is due to government industry-focused schemes and initiatives.
The North American market is slated to depict considerable growth throughout the study period. The surge is driven by increased health awareness in the region.
Competitive Landscape:
Market Players Enter Collaborations to Strengthen Business Prospects
Major vacuum cooling equipment companies are centered on the adoption of a series of strategic initiatives for strengthening their business prospects. Some of these initiatives include merger agreements, the formation of alliances, and others. Besides, many companies are entering partnership agreements and collaborations for expanding product reach.
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Major Table of Contents:
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Global Vacuum Cooling Equipment Key Players Market Share/Ranking, 2022
- Global Vacuum Cooling Equipment Market Size Estimates and Forecasts, By Segments, 2019-2030
- Key Findings
- By Cooling Type (USD)
- Air Cooled
- Water Cooled
- By Type (USD)
- Inline Type
- Pallet Type
- By Application (USD)
- Fruits and Vegetables
- Baked Products
- Meat
- Others (Flowers and Others)
- By Country (USD)
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- North America Vacuum Cooling Equipment Market Size Estimates and Forecasts, By Segments, 2019-2030
- Key Findings
- By Cooling Type (USD)
- Air Cooled
- Water Cooled
- By Type (USD)
- Inline Type
- Pallet Type
- By Application (USD)
- Fruits and Vegetables
- Baked Products
- Meat
- Others (Flowers and Others)
- By Country (USD)
- United States
- By Application (USD)
- Fruits and Vegetables
- Baked Products
- Meat
- Others (Flowers and Others)
- By Application (USD)
- Canada
- By Application (USD)
- Fruits and Vegetables
- Baked Products
- Meat
- Others (Flowers and Others)
- By Application (USD)
- Mexico
- By Application (USD)
- Fruits and Vegetables
- Baked Products
- Meat
- Others (Flowers and Others)
- By Application (USD)
- United States
TOC Continued…!
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FAQ’s
How big is the Vacuum Cooling Equipment Market Market?
The global Vacuum Cooling Equipment Market size was estimated at USD 822.0 million in 2022 and is expected to reach USD 847.3 million in 2023
What is the Vacuum Cooling Equipment Market Growth?
The global Vacuum Cooling Equipment Market is expected to grow at a compound annual growth rate (CAGR) of 3.4% from 2023 to 2030 to reach USD 1,071.6 million by 2030
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