U.S. Insulated Panels for Commercial Refrigeration Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

Description

The U.S. Insulated Panels For Commercial Refrigeration Market was valued at USD 2.8 billion in 2023. Projections indicate a CAGR of 4.8% from 2024 to 2032. The rising adoption of insulated panels in the U.S. commercial refrigeration sector is driven by businesses' desire to enhance energy efficiency and reduce costs. The North American Insulation Manufacturers Association (NAIMA) highlights that insulated panels can lead to energy consumption reductions of up to 30%. These panels maintain consistent temperatures while using less energy. Furthermore, the Environmental Protection Agency (EPA) emphasizes that improved refrigeration systems can significantly lower greenhouse gas emissions, benefiting the environment.

As the food service and retail industries expand, their demand for advanced refrigeration systems intensifies. According to the National Restaurant Association, the rising number of restaurants underscores the urgent need for dependable refrigeration to safeguard perishable goods. Similarly, the Food Marketing Institute highlights the expansion of supermarkets and convenience stores. This industry growth amplifies the demand for premium refrigeration solutions, including insulated panels and evaporators. Moreover, the integration of cutting-edge technologies, such as smart controls, is enhancing the efficiency of these systems. With the continuous expansion of these sectors, the appetite for sophisticated refrigeration components is set to surge, driving the market forward.

A notable trend is the industry's shift towards energy efficiency and technological innovations, particularly in insulated panels and evaporators. NAIMA reports that modern insulated panels leverage advanced materials and designs, enhancing thermal insulation and curbing energy consumption. This evolution underscores the industry's commitment to sustainability and cost-effectiveness. Moreover, there's a growing demand for modular and customizable solutions, catering to varied commercial requirements and highlighting a trend towards flexibility in refrigeration systems.

The U.S. insulated panels for commercial refrigeration market is classified based on usage, temperature range, application, distribution channel and region.

Segmented by type, the polyurethane category was valued at over USD 1.3 billion in 2023, with expectations to hit USD 1.9 billion by 2032. The driving force behind polyurethane's popularity is its exceptional thermal insulation. The Polyurethane Foam Association states that PU panels boast high R-values, making them leaders in thermal resistance. This attribute is crucial for maintaining stable temperatures in commercial refrigeration. Such efficiency not only promotes energy savings but also reduces operational costs, a point emphasized by the U.S. Department of Energy. This cements PU panels' dominance in cold storage, supermarkets, and food processing. Additionally, their lightweight nature facilitates easier installation and handling, enhancing their appeal in the commercial realm.

In terms of application, the food and beverage retail sector surpassed USD 1.6 billion in 2023, with projections reaching USD 2.5 billion by 2032. This growth is largely due to the sector's reliance on precise temperature control to ensure the freshness and safety of perishables. Insulated panels excel in thermal insulation, curbing energy use and operational costs by minimizing heat exchange with the external environment, thus driving market expansion.

Product Code: 10855

Chapter 1 Methodology and Scope

1.1 Market scope and definition
1.2 Base estimates and calculations
1.3 Forecast parameters
1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
  - 1.4.2.1 Paid sources
  - 1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 Industry 360° synopsis, 2018 - 2032

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
- 3.1.1 Factors affecting the value chain
- 3.1.2 Profit margin analysis
- 3.1.3 Disruptions
- 3.1.4 Future outlook
- 3.1.5 Manufacturers
- 3.1.6 Distributors
3.2 Impact forces
- 3.2.1 Growth drivers
  - 3.2.1.1 Increasing demand for energy-efficient commercial refrigeration
  - 3.2.1.2 Expansion of food services
  - 3.2.1.3 Inclination towards sustainability
  - 3.2.1.4 Technological advancements
- 3.2.2 Industry pitfalls and challenges
  - 3.2.2.1 Rising cost of raw materials
  - 3.2.2.2 Need to meet stringent regulatory and environmental standards
3.3 Technology and innovation landscape
3.4 Consumer buying behavior analysis
- 3.4.1 Adoption trends
- 3.4.2 Factors affecting buying decision
- 3.4.3 Consumer product adoption
- 3.4.4 Preferred distribution channel
3.5 Growth potential analysis
3.6 Regulatory landscape
3.7 Pricing analysis
3.8 Porter's analysis
3.9 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix

Chapter 5 Market Estimates and Forecast, By Type, 2021 - 2032, (USD Million) ('000 Sq ft)

5.1 Key trends
5.2 Panels
- 5.2.1 Polyurethane
- 5.2.2 Expanded polystyrene (EPS) panel
- 5.2.3 Extruded polystyrene (XPS) panel
- 5.2.4 Composite panel
- 5.2.5 Others

Chapter 6 Market Estimates and Forecast, By Usage, 2021 - 2032, (USD Million) ('000 Sq ft)

6.1 Key trends
6.2 Insulated panel system
6.3 Evaporator
6.4 Multi-Deck display cases
6.5 Single deck display cases
6.6 Walk-in coolers/freezers
6.7 Remote systems
6.8 Self-contained units
6.9 Island cases
6.10 Chilled rooms
6.11 Others

Chapter 7 Market Estimates and Forecast, By Temperature Range, 2021 - 2032, (USD Million) ('000 Sq ft)

7.1 Key trends
7.2 Medium temperature (32°F to 41°F / 0°C to 5°C)
7.2 Low temperature (0°F to -10°F / -18°C to -23°C)
7.2 Ultra-low temperature (below -10°F / -23°C)

Chapter 8 Market Estimates and Forecast, By Application, 2021 - 2032, (USD Million) ('000 Sq ft)

8.1 Key trends
8.2 Food service
- 8.2.1 HoReCa
- 8.2.2 Catering services
- 8.2.3 Others (Bakeries, Confectionery Houses, Food Expo and Tour, etc.)
8.3 Food and beverage retail
- 8.3.1 Grocery stores
- 8.3.2 Club stores
- 8.3.3 Convenience stores
- 8.3.4 Dollar/Drug stores
- 8.3.5 Other (Specialty Food Store, Farmers Markets, etc.)
8.4 Laboratories/medical facilities
8.5 Cold storage warehouses
8.6 Others

Chapter 9 Market Estimates and Forecast, By Distribution Channel, 2021 - 2032, (USD Million) ('000 Sq ft)

9.1 Key trends
9.2 Direct
9.3 Indirect

Chapter 10 Market Estimates and Forecast, By Country, 2021 - 2032, (USD Million) ('000 Sq ft)

10.1 Key trends
10.2 U.S.

Chapter 11 Company Profiles (Business Overview, Financial Data, Product Landscape, Strategic Outlook, SWOT Analysis)

11.1 Alfa Laval
11.2 American Cooler Technologies
11.3 American Insulated Panel
11.4 Coldmatic Building Systems
11.5 Colmac Coil Manufacturing
11.6 Craig Industries, Inc.
11.7 Dow Building Solutions
11.8 EVAPCO, Inc.
11.9 Everidge, Inc. (Crown Tonka)
11.10 Falk Corporation
11.11 Guntner SS
11.12 Heatcraft Worldwide Refrigeration
11.13 Kingspan Group (KPS)
11.14 MBCI (a Cornerstone Building Brands company)
11.15 Metl-Span (a Nucor company)
11.16 PermaTherm