Global Commercial Refrigeration Equipment Market Trends, Applications, Analysis, Growth, and Forecast: 2017 to 2027

Global Commercial Refrigeration Equipment Market Overview:

“The global Commercial Refrigeration Equipment Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

Request Covid - 19 Impact

The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint.

The global commercial refrigeration equipment market report has been segmented on the basis of type, application, end user, and region.

This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources.

Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market.

In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.

Refrigeration is a process of lowering and maintaining temperature lower than its surrounding or as required by the products. The commercial refrigeration equipment is utilized for preserving foods such as fruits, meat, vegetables, and other similar products by keeping them at a temperature of 30° C to -40° C and thus increase shelf life of the product.

In addition, some refrigeration equipment are specially designed to rapidly reduce temperature of hot food from around 90° C to as low as 30° C, in a very short period of time to eliminate threat of bacterial proliferation.

Increasing demand from multiple end-use industries such as pharmaceutical, chemical, food & beverages, etc. is a major factor expected to drive growth of the global commercial refrigeration market. In addition, rising preference for fast-moving consumer goods (FMCG) among general population is another key factor expected to support growth of the global commercial refrigeration market.

Furthermore, increasing use of refrigerators in the transportation vehicles to deliver perishable items such as dairy and milk products and bakery, meat & fish, etc. is expected to support growth of the global commercial refrigeration market.

However, high cost associated with refrigeration process is a major factor restraining growth of the global commercial refrigeration market. In addition, rising environmental concern and high electricity consumption is expected to limit growth of the global commercial refrigeration market to a certain extent.

Increasing R&D activities by various manufacturers and technological advancements such as development of cost-effective system which consumes less electricity and offer maximum cooling is projected to create new revenue opportunities for various market players operating in the global commercial refrigeration market over the forecast period.

North America commercial refrigeration equipment market is expected to hold major share in terms of revenue in the global commercial refrigeration equipment market in 2017.

Asia Pacific commercial refrigeration equipment market is projected to witness fastest growth in terms of revenue over the forecast period, owing to increasing consumption of food & beverages, and rapid industrialization and urbanization in the countries in this region.

Global Commercial Refrigeration Equipment Market Segmentation:

Segmentation by type:

• Transportation Refrigeration Equipment
• Refrigerators & Freezers
• Display Showcases
• Beverage Refrigeration
• Parts

Segmentation by application:

• Food Service
• Food & Beverage Production
• Food & Beverage Distribution
• Food & Beverage Retail

Segmentation by end user:

• Food Processing Industry
• Food Service Industry
• Full Service Restaurant & Hotels
• Quick Service Restaurants
• Catering Services

Segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa