The global commercial refrigeration equipment market size is projected to reach USD 48.61billion by
2025, growing at a CAGR of 5.4% over the forecast period, according to a new
report by Grand View Research, Inc. Advancements in refrigeration technologies
along with the changing food habits are expected to impel the market growth
over the forecast period. The refrigerators & freezers is anticipated to
emerge as the fastest-growing product segment with a CAGR of 6.4% from 2019 to
2025.
Innovation in magnetic refrigeration
systems and other emerging technologies are also expected to have a positive
impact on the market growth. Super markets are one of the most prominent retail
channels for such equipment. The segment was valued at USD 2.20 billion in 2018
and is projected to maintain the dominance in future due to increasing number
of supermarkets and hypermarkets in developing countries, such as China and
India .Growing disposable income levels and improving standards of living in
the emerging countries are also boosting the growth of super and hypermarkets.
The convenience store segment is said to
register the highest CAGR of 6.1% over the forecast period. North America is a
prominent region in the global market as it is the biggest manufacturer and
exporter of the product. The region accounted for a market share of more than
32% in 2018. However, Asia Pacific is expected to emerge as the fastest-growing
market from 2019 to 2025, owing to rise in the product manufacturing in this
region.
Access Research Report of Commercial
Refrigeration Equipment Market @ https://www.grandviewresearch.com/industry-analysis/commercial-refrigeration-equipment-market
Further key findings from the study suggest:
· The refrigerators &freezers segment is
expected to reach USD 12.31 billion by 2025 at a CAGR of 6.4% from 2019 to 2025
· Technological advancements in refrigerators
are anticipated to boost their demand in the food service and production
segment
· F&B distribution is expected to be the
fastest-growing application segment at a CAGR of 6.3% over the forecast years
· Key companies in the commercial
refrigeration equipment market are Dover Corp.; Daikin Industries Ltd.; Carrier
Commercial Refrigeration, Inc.; Johnson Control, Inc.; and Haier Group Corp.
Grand View Research has segmented the
global commercial refrigeration equipment market on the basis of product,
retail channel, application, and region:
Commercial Refrigeration Equipment Product
Outlook (Revenue, USD Million, 2015 - 2025)
·
Transportation Refrigeration Equipment
·
Refrigerators & Freezers
·
Beverage Refrigeration
·
Display Showcases
o
Self-contained
o
Remotely Operated
·
Ice Merchandisers & Ice Vending
Equipment
·
Others
Commercial Refrigeration Equipment Retail
Channel Outlook (Revenue, USD Million, 2015 - 2025)
·
Hypermarket
·
Supermarket
·
Convenience Store
·
Specialty Store
·
Others
Commercial Refrigeration Equipment Application
Outlook (Revenue, USD Million, 2015 - 2025)
·
Food Service
·
Food & Beverage Retail
·
Food & Beverage Distribution
·
Food & Beverage Production
·
Others
Commercial Refrigeration Equipment Regional
Outlook (Revenue, USD Million, 2015 - 2025)
·
North America
o
U.S.
o
Canada
·
Europe
o
Germany
o
U.K.
·
Asia Pacific
o
China
o
India
o
Japan
·
Latin America
o
Brazil
o
Mexico
·
Middle East & Africa
About
Grand View Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.