The global Commercial Refrigeration Equipment Market was valued at USD 32.23 billion in 2021 and is expected to reach USD 40.45 billion by the year 2028, at a CAGR of 3.3%.
The term Commercial Refrigeration Equipment Market is the process of eliminating excessive heat from a source of a material to control the temperature lower than its surroundings. Commercial refrigeration equipment is utilized for preserving food such as fruits, vegetables, meat, and other similar products by controlling a specific temperature to grow the shelf life of a product. A large separation of the market for refrigerators is anticipated to be registered shortly owing to the replacement of existing equipment through energy-efficient and sustainable technology equipment. Often some refrigeration equipment is specially developed to rapidly overcome the temperature of food from around 90°C to as low as 30°C, in a short time to remove the threat of bacterial growth.
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Top Company Players Covered in the Commercial Refrigeration Equipment market are:
Carrier, Emerson Electric Company, GEA Group, Beverage-Air Corporation, Daikin Industries Ltd., Danfoss A/S, Dover Corporation, Electrolux AB, GE Appliances, Hussmann Corporation, Illinois Tool Works Inc., Ingersoll-Rand PLC, Metalfrio Solutions SA, United Technologies Corporation, Whirlpool Corporation, Standex International Corporation
The latest research on the Commercial Refrigeration Equipment Market provides a comprehensive overview of the market for the years 2023 to 2030. It gives a comprehensive picture of the global Commercial Refrigeration Equipment Market industry, considering all significant industry trends, market dynamics, competitive landscape, and market analysis tools such as Porter's five forces analysis, Industry Value chain analysis, and PESTEL analysis of the Commercial Refrigeration Equipment Market. Moreover, the report includes significant chapters such as Patent Analysis, Regulatory Framework, Technology Roadmap, BCG Matrix, Heat Map Analysis, Price Trend Analysis, and Investment Analysis which help to understand the market direction and movement in the current and upcoming years. The report is designed to help readers find information and make decisions that will help them grow their businesses. The study is written with a specific goal in mind: to give business insights and consultancy to help customers make smart business decisions and achieve long-term success in their particular market areas.
Segmentation Analysis of the Commercial Refrigeration Equipment Market:
By Product Type
· Refrigerator & Freezer
· Transportation Refrigeration
· Refrigerated Display Cases
· Beverage Refrigeration
· Ice Cream Merchandiser
· Refrigerated Vending Machine
By Refrigerant
· Type
· Fluorocarbons
· Hydrocarbons
· Inorganics
By End Users
· Full-Service Restaurant & Hotels
· Food Processing Industry
· Hospitals
· Retail Pharmacies
· Supermarket/Hypermarket
· Others
Market share data Market Segment by Regions and Countries Level Analysis:
§ North America (U.S., Canada, Mexico)
§ Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
§ Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
§ Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
§ Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
§ South America (Brazil, Argentina, Rest of SA)
COVID-19 Impact:
Increasing Product Demand from Pharmaceutical Sector Escalated Market Expansion Amid the Pandemic The spread of COVID-19 worldwide decreased the demand for commercial refrigeration in 2020. Manufacturing facilities were closed to curb the rising number of cases which affected the supply chains negatively. This also delayed product delivery and sales substantially. Contrastingly, the demand for commercial freezers and refrigerators from the pharmaceutical sector to store drugs and medicines increased. Also, the surging demand for frozen food meals after the pandemic elevated the demand for this equipment across emerging and developed economies.
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