Commercial Refrigeration Equipment Market Research Report

Commercial Refrigeration Equipment Market

Commercial Refrigeration Equipment Market size is projected to expand at a CAGR of 6.4% over the forecast period, owing to the expansion in the tourism and hospitality sector. Commercial refrigeration equipments are the refrigerators and freezers used in restaurants, commercial kitchens, and supermarkets.

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The increasing inclination of end-consumers toward ready-to-eat meals is the primary factor contributing to the Commercial Refrigeration Equipment market growth. Also, the demand for these equipment has significantly increased across foodservice industries. Key producers are increasingly emphasizing on R&D to enhance the design and temperature of products owing to the increasing concern for the environment. Also, a surge in demand for frozen food products because freezing preserves all the vitamins and minerals without compromising on taste and quality has propelled the Commercial Refrigeration Equipment market growth. As per the Policy Department for Economic, Scientific, and Quality of Life Policies, European Union, frozen and packaged food retailers witnessed a drastic increase in sales. With the increasing inclination towards cost-efficiency and environment-friendly products, the demand for commercial refrigerators has increased as they consume less energy. They reduce the deterioration of foods as they impede the growth of fungi and other bacteria.

Based on the region, the Asia Pacific region is expected to expand at a faster rate during the forecast period, owing to the rising demand for processed food and accelerating working population Expansion across the retail industry in emerging nations such as India, China, and others will boost the Commercial Refrigeration Equipment Market share. As per the IBEF report 2019, the Retail market is expected to reach USD 1,200 billion by 2021.

Commercial Refrigeration Equipment Market Segmentation:

Commercial Refrigeration Equipment Market by Type

· Refrigerator & Freezer

· Transportation Refrigeration

· Refrigerated Display Cases

· Beverage Refrigeration

· Ice Cream Merchandiser

· Refrigerated Vending Machine

Commercial Refrigeration Equipment Market by Refrigerant Type

· Hydrocarbons

· Fluorocarbons

· Inorganics

Commercial Refrigeration Equipment Market by End-Users

· Hotels & Restaurants

· Supermarket & Hypermarket

· Bakeries

· Convenience Stores

Commercial Refrigeration Equipment Market by Region:

· Asia Pacific

o China

o Japan

o India

o Rest of APAC

· North America

o United States of America

o Canada

· Europe

o United Kingdom

o Germany

o France

o Spain

o Rest of Europe

· RoW

o Brazil

o South Africa

o Saudi Arabia

o UAE

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