Commercial Refrigeration Equipment Industry Share, Size and Industry Research Report 2027
Market Research Consultants
Updated on Nov 14, 2019
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Increase in the number of retail outlets for perishable items has given rise to the global commercial refrigeration equipment industry. Market Research Future, a firm which specializes in market reports related to the Consumer and Retail sector among others, recently published a report on this market. The market is set to develop following an exceptional revenue growth with an outstanding CAGR per cent in the forecast period.
The commercial refrigeration equipment market includes equipment such as display cases, walk-in coolers, beverages refrigeration, ice making machineries, parts and other equipment. Others refer to vending machines, reach-in coolers, liquid chillers, and cryogenic refrigeration. The commercial refrigeration equipment market is driven by surging urbanization and expansion of hypermarket and supermarket in developing countries of Asia pacific and Latin America.
Segmentation for Commercial Refrigeration Equipment market involves the following types such as Display Cases, Walk-in Coolers, Beverages Refrigeration, Ice-Making Machineries, Parts and others
Segmentation by Applications Segmentation for Commercial Refrigeration Equipment market involves the following technology such as hospitals, bars, food service, hotels, and food and beverages preservation.
Segmentation by End Users - Segmentation for Commercial Refrigeration Equipment market involves the following End Users such as food manufacturing industries, hyper market and supermarket.
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- Global Commercial Refrigeration Equipment Market is driven by the growth of supermarket, hypermarket, and organized food retail chains.
- Global Commercial Refrigeration Equipment Market is expected to strengthen the product life cycle owing to the continuous improvement in minimum energy performance standards (MEPS).
- The European Commercial Refrigeration Equipment Market is heading towards maturity and the growth is mainly expected from the emerging countries of Asia-Pacific.
- By 2020, Asia-Pacific is expected to account XX% of the Global Commercial Refrigeration Equipment Market.
The Asia-Pacific has exceeded North America in 2015 to become the largest market for commercial refrigeration equipment and expected to grow at an optimistic CAGR. The European market for Commercial Refrigeration Equipment is expected to grow at an influential CAGR in the forecast period even though the market in Europe is heading towards the maturity.
Geographically, North America is the leading market for global commercial refrigeration equipment market, in terms of revenue followed by Europe and Asia Pacific. The commercial refrigeration equipment market in North America is expected to grow at higher rate than that of Europe, owing to the increased aftermarket of commercial refrigeration equipment, such as replacement and repair of the currently used commercial refrigeration units.
In June 2016 – Cooltech Application made an announcement that it has completed the agreement with Structural Concept for installing the first magnetic cooling display cases in North America. This was one of the major investments made by the company which has gained much attention in North America region. The product has already been launched in Europe has been acknowledged in the market. With this launch, the commercial refrigeration equipment market has acquired higher revenue as compared to past years.
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