As per the latest report published by Variant Market Research, Global Commercial Refrigeration Equipment Market is estimated to reach $51.6 billion by 2024; growing at a CAGR of 6.1% from 2016 to 2024. Commercial refrigeration equipment is used to remove heat from a room or unit in order to designate a cold or freezing area in which to store food, medicine, or other items which must be stored at those temperatures. Growing number of supermarket and hypermarket in emerging regions has surged the demand of energy resourceful equipment in the recent times. Besides, rising disposable income, rapid industrialization, and various other analytical shifts has led to noteworthy change in food & beverage expenditure over the past years.
Rising number of specialty food stores, supermarkets, and hypermarkets worldwide, and rising international food trade are the primary factors to drive the growth of the global commercial refrigeration equipment market. Though, increasing fuel costs, and strict environmental regulations might restrict the market growth. Moreover, surging demand for chilled & frozen products, and growth of cold supply chains is expected to pose numerous growth opportunities for the market in the given forecast timeframe.
The global commercial refrigeration equipment is segmented into equipment type, and geography. By equipment type, the segment comprises walk-in coolers, display cases, beverage refrigeration, parts, ice making machinery, and other equipment.
Based on geography, global commercial refrigeration equipment market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico, whereas Europe segment consists of UK, Germany, Italy, France, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
Key players operating in the market include, Hussmann Corporation, AHT Cooling Systems GmbH, Daikin Industries, Ltd., Dover Corporation, Haier, Inc., AB Electrolux, United Technologies, Whirlpool Corporation, Illinois Tool Works Inc., and Ingersoll Rand plc, among others.
The key takeaways from the report
- The report will provide detailed analysis of Global Commercial Refrigeration Equipment Market with respect to major segments such as equipment type, and geography
- The report will include the qualitative and quantitative analysis with market estimation over 2015 – 2024 and compound annual growth rate (CAGR) between 2016 and 2024
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of Global Commercial Refrigeration Equipment Market has been included in the report
- Profile of the key players in the Global Commercial Refrigeration Equipment Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Global Commercial Refrigeration Equipment Market
Equipment Type Segments
- Walk-In Coolers
- Display Cases
- Beverage Refrigeration
- Ice Making Machinery
- Other Equipment Types
- North America
- ·Rest of Europe
- ·Rest of Asia-Pacific
- ·South America
- ·Middle East