Global Commercial Refrigeration Equipment Market is estimated to reach $51.6 billion by 2024; growing at a CAGR of 6.1% from 2016 to 2024.Commercial refrigeration equipmentis used to remove heat from a room or unit in order to designate a cold or freezing area to store food, medicine, or other items, which must be stored at those temperatures.Commercial refrigeration equipment is also used in storage, transportation, and marketing of applications. Commercial refrigeration equipment comprises freezers &refrigerators that are used in super-markets, hyper-markets, food service restaurants, and convenience stores.
Global Commercial Refrigation Equipment Market Size and Forecast, 2015 – 2024 (US$ Billion)
The factors that drive the growth of global commercial refrigeration equipment market are rising international food trade, and changing food consumption trends. Besides, rising number of specialty food stores, supermarkets, and hypermarkets worldwide have also supported the growth of the market. However, increasing fuel costs, and environment regulations may hinder the market growth. Moreover, surging demand for chilled & frozen products, association of warehouses, and growth of cold supply chains is highly expected to open new growth opportunities for the market in the coming future.
The global commercial refrigeration equipmentmarket is mainly classified on the basis of equipment type, and geography. Equipment type segment is sub-segmented into display cases, walk-in coolers, beverage refrigeration, ice making machinery, parts, and other equipment.
Global Commercial Refrigeration Equipment Market, by Equipment Type
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.
Global Commercial Refrigeration Equipment Market Regional Revenue % (2016 Vs 2024)
Major companies operating in the market are Daikin Industries, Ltd., Dover Corporation, Whirlpool Corporation, AB Electrolux, AHT Cooling Systems GmbH, Hussmann Corporation, Illinois Tool Works Inc., United Technologies,Haier, Inc., and Ingersoll Rand plcamong 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 EquipmentMarket has been included in the report
- Profile of the key players in the Global Commercial Refrigeration EquipmentMarket 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
- Display Cases
- Walk-In Coolers
- Beverage Refrigeration
- Ice Making Machinery
- Other Equipment Types
- North America
- Rest of Europe
- Rest of Asia-Pacific
- South America
- Middle East
Global Commercial Refrigeration Equipment Market Primary Interviews, by Geography