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" refers to the segment of the economy and industry that deals with the production, distribution, and sale of various types of refrigeration equipment designed specifically for commercial or business use. Commercial refrigeration equipment is used by businesses, institutions, and organizations to store and preserve perishable goods, including food, beverages, pharmaceuticals, and other temperature-sensitive products.These are typically used in restaurants, supermarkets, convenience stores, and various foodservice establishments to store perishable food and beverages at specific temperatures.These are designed to freeze and store products at extremely low temperatures and are often used in restaurants, grocery stores, and food processing facilities.
Top Company Profiles Include in Commercial Refrigeration Equipment Market report:
· 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
· Lennox International Inc.
· Daikin IndustriesLtd.
· AHT Cooling Systems GmbH
· Manitowoc Company Inc.
· Panasonic Corporation
· Hoshizaki Corporation and other major players.
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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.
COVID-19 Impact:
Increasing Product Demand from Pharmaceutical Sector Escalated Market Expansion Amid the PandemicThe 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.
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)
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