Market Analysis and Insights : Global Commercial Refrigeration Equipment Market
The commercial refrigeration equipment market is expected to witness market growth at a rate of 6.10% in the forecast period of 2022 to 2029, and is estimated to reach the value of USD 60.00 billion by 2029. Data Bridge Market Research report on commercial refrigeration equipment market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The rise in health consciousness globally is escalating the growth of commercial refrigeration equipment market.
Commercial refrigeration refers to the process that involves removing excess heat from a source or a material for maintaining the temperature lower than its surrounding. The equipment used in the process are utilized for preserving food such as fruits, vegetables and meat, among others by maintaining a specific temperature.
The rise in demand for frozen and processed food across the globe acts as one of the major factors driving the growth of commercial refrigeration equipment market. The increase in demand for the refrigeration of frozen foods owning to the notable increase in international food trade, and rapid expansion of the tourism and hospitality sector accelerate the market growth. The rapid improvements in technologies such as ammonia absorption systems and liquid-vapor compression, and rise in preference of end-customers to takeaway meals further influence the market. Additionally, change in lifestyle, surge in the disposable income of people, rise in health-conscious consumers and increase in food expenditure positively affect the commercial refrigeration equipment market. Furthermore, increase in need to effectively control and monitor the environment of a commercial kitchen extend profitable opportunities to the market players in the forecast period of 2022 to 2029.
On the other hand, stringent regulations against the use of fluorocarbon refrigerants are expected to obstruct the market growth. The cold storage supply channel is projected to challenge the commercial refrigeration equipment market in the forecast period of 2022-2029.
This commercial refrigeration equipment market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on commercial refrigeration equipment market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Commercial Refrigeration Equipment Market Scope and Market Size
The commercial refrigeration equipment market is segmented on the basis of type, refrigerant type, application and end user. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the commercial refrigeration equipment market is segmented into blast chillers, refrigerator & freezer, transportation refrigeration, refrigerated display case, beverage refrigeration, ice cream merchandiser and refrigerated vending machine.
- On the basis of refrigerant type, the commercial refrigeration equipment market is segmented into fluorocarbons, hydrocarbons and inorganics.
- On the basis of application, the commercial refrigeration equipment market is segmented into food service, food and beverage distribution, food and beverage retail and other.
- On the basis of end user, the commercial refrigeration equipment market is segmented into food processing industry, food service industry, full service restaurant & hotels, quick service restaurants and catering services.
Commercial Refrigeration Equipment Market Country Level Analysis
The commercial refrigeration equipment market is analysed and market size, volume information is provided by country, type, refrigerant type, application and end user as referenced above.
The countries covered in the global commercial refrigeration equipment market report are the U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America dominates the commercial refrigeration equipment market because of the well-established retail industry in the U.S. Asia-Pacific is expected to witness growth during the forecast period of 2022 to 2029 due to the rising gross disposable income, and increased expenditure in the region.
The country section of the commercial refrigeration equipment market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Lecithin and Commercial Refrigeration Equipment Market Share Analysis
The commercial refrigeration equipment market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to commercial refrigeration equipment market.
Some of the major players operating in the commercial refrigeration equipment market report are Emerson Electric Co., Carrier, National Refrigeration Company, Bharat Refrigerations Private Limitied,Danfoss, GEA GroupAktiengesellschaft, Heatcraft Worldwide Refrigeration, Daikin Industries, Ltd., Western Refrigeration Private Limited,Johnson Controls, Bitzer SE,Advansor A/S, Mayekawa Mfg. Co., Ltd.,Baltimore Aircoil Company, Inc., Commercial Refrigeration Inc.,Hillphoenix, A Dover Company, Carnot Refrigeration, Rockwell Industries Limited,Beijer Ref AB, Green & Cool, Hussman Corporation,Henry Group Industries, Evapco, Inc. and AHT Cooling Systems, among others.