The global demand for Commercial Refrigeration Equipment Market is presumed to reach the market size of nearly USD 57.89 MN by 2028 from USD 38.25 MN in 2021 with a CAGR of 6.1% under the study period 2022 - 2028.
Commercial refrigeration equipment provides cold storage for commercial use. Commercial refrigeration equipment is used to extend the shelf life of food such as vegetables, fruits, and meat by maintaining a specific temperature. Commercial refrigeration equipment is used in supermarkets, convenience stores, restaurants, and commercial kitchens. Commercial refrigeration equipment includes walk-in refrigerators, walk-in freezers, and refrigerated casework.
Market Dynamics
The growing hospitality and tourism sectors, as well as the growing preference for end-consumers for takeaway meals, are expected to propel market growth over the forecast period. Also, food safety regulations are expected to boost the demand for commercial refrigeration equipment. The steep growth of the organized retail sector, such as an increase in the number of hypermarkets and supermarkets, boosts overall sales of commercial refrigerators, resulting in market growth. Conversely, advancements in technology and a rise in the number of quick-service restaurants are expected to provide numerous opportunities for market growth. However, the high installation costs associated with commercial refrigeration equipment may hamper the market growth.
The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of commercial refrigeration equipment. The growth and trends of commercial refrigeration equipment industry provide a holistic approach to this study.
Market Segmentation
This section of the commercial refrigeration equipment market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Product
- Transportation Refrigeration Equipment
- Refrigerators & Freezers
- Beverage Refrigeration
- Display Showcases
- Ice Merchandisers & Ice Vending Equipment
- Other Equipment
By Application
- Food Service
- Food & Beverage Retail (Hypermarkets, Supermarkets, Convenience Store, Specialty Food Store, Others)
- Food & Beverage Distribution
- Food & Beverage Production
- Others
By System Type
- Self-Contained
- Remotely Operated
By Capacity
- Less Than 50 Cu. Ft
- 50 To 100 Cu. Ft
- More Than 100 Cu. Ft
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Commercial Refrigeration Equipment market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Commercial Refrigeration Equipment Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the commercial refrigeration equipment market include AB Electrolux, Ali Group S.r.l. a Socio Unico, AHT Cooling Systems GmbH, Carrier, Daikin Industries Ltd., Dover Corporation, Hussmann Corporation, Excellence Industries, Hillphoenix A Dover Company, Illinois Tool Works Inc., Imbera, Lennox International Inc., Metalfrio Solutions S.A., Minus Forty Technologies Corp., Ojeda Usa Inc., Panasonic Corporation, Qingdao Hiron Commercial Cold Channel Co. Ltd., True Manufacturing Co. Inc., Victory Refrigeration, Whirlpool Corporation, Zero Zone Inc. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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