Commercial Refrigeration Equipment Market - Growth, Opportunities and Recent Trends by Leading Players to 2024
Category: #reports  By Rahul Varpe  Date: 2020-04-27
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Commercial Refrigeration Equipment Market - Growth, Opportunities and Recent Trends by Leading Players to 2024

One of the most pivotal drivers of this business space is the rapidly increasing demand for packaged food and beverages. Having been infused with the awareness of healthy eating, consumers have been depicting an interest to adopt healthy diets, thereby upscaling the demand for frozen foods. Apparently, the Academy of Nutrition & Dietetics declares that frozen veggies and fruits encompass the ability to retain nutrients better than the fresh products that are consumed merely a few hours post packaging. The rising awareness regarding this trends is also expected to add a new growth dimension to the global commercial refrigeration equipment industry, that incidentally accrued returns worth USD 30 billion in 2017.

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The Commercial Refrigeration Equipment Market is projected to expand from its present industry value of over USD 30 billion to more than USD 35 billion over the analysis timeframe.

The U.S. has been forecast to be a rather lucrative growth hub for this vertical, the reason of which can be aptly attributed to the expanding food and beverage sector in the region. The country is remnant of upgraded production services such as microprocessor-based controller, improvised materials, and smart defrost systems. In addition, the efforts of regional players to reduce labor costs by transiting the production facilities overseas will also complement the market outlook.

Commercial refrigeration equipment market has been expanding its horizon with the surging global demand for safer and sustainable food preservation techniques. Along with the provision of cooling at diverse storage conditions, equipment manufacturers are also focusing on minimizing the harmful environment impact of the refrigerants. Mandatory rollouts, especially across developed nations, for banning fluorocarbon based refrigeration that in turn leads to ozone depletion, are expected to further augment the revenue graph of commercial refrigeration equipment market in the years ahead.

Market Growth Drivers –

  1. Growing demand for meat and dairy products
  2. Product development initiatives due to technological advancements
  3. Increasing investments in food & beverages industries in North America
  4. Growing demand for transportation refrigeration in Europe
  5. Growing floriculture industry in France
  6. Increasing demand for frozen food and vegetables in Asia Pacific
  7. Rapid growth of retail sector and cold food chains in Asia Pacific and Latin America
  8. Growth of e-commerce sector in India & China
  9. Increasing focus on food safety and energy saving in Middle East
  10. Growing focus of governments to reduce food wastage in Africa
  11. Shift of manufacturing facilities towards India, China, and Brazil

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Top Companies: -

AB Electrolux, AHT Cooling Systems GmbH, Daikin Industries Ltd., Danfoss A/S, Dover Corporation, Emerson Electric, GEA Group AG, Haier Corporation, Hussman Corporation, Illinois Tool Works Inc., Ingersoll-Rand Plc., Johnson Controls, Inc., Lennox International, Inc., Parker Hannifin Corp, United Technologies Corporation

Split by product type, the market has been divided into: -

  1. Transportation Refrigeration Equipment
  2. Refrigerators & Freezers
  3. Beverage Refrigeration
  4. Other Equipment
  5. Parts

The report is inclusive of thorough inference regarding the production, price, revenue generated, segmental market share, and growth rate attained by each segment.

The regional segmentation covers

  1. North America
  2. Europe
  3. Asia Pacific
  4. Latin America (LATAM)
  5. Middle East

What is the gist of this report?

  1. A comprehensive pricing analysis has been carried out with regards to product spectrum, application scope, and regional landscape
  2. An in-depth documentation of the key market players and major companies to understand the competitive spectrum of the global market
  3. Extensive details about the regulatory framework impacting the industry, in tandem with rising investments by the major stakeholder of the global market
  4. All-detailed estimation of the numerous factors aiding the overall industry expansion, along with their influence on the market dynamics and projection of the global market
  5. An exhaustive abstract containing details about the various growth opportunities prevailing in the global market and recognition of important drivers
  6. A detailed analysis of the varied trends that exist in the global market that would enable identification of the several developments

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About Author

Rahul Varpe

Email: [email protected]   

Rahul Varpe

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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