Commercial Refrigeration Equipment Market by Top Companies, Regions, Trends & Forecast to 2025
Date: 2020-03-11   Author: Rahul Varpe  Category: #news

Commercial Refrigeration Equipment Market by Top Companies, Regions, Trends & Forecast to 2025

The overall Commercial Refrigeration Equipment Market is slated to depict a valuation of $35 billion by 2024, having registered a remuneration of $30 billion in 2017.

Growing demand for the transportation refrigeration equipment is expected to propel the commercial equipment refrigeration market due to increased trade of food products, thus increasing the commercial refrigeration equipment market growth. According to the World Trade Organization, the total food exports accounted for more than USD 1,400 Billion. Reduction in investment barriers in countries including India, Japan, and Singapore are allowing the food product manufacturers from countries including U.S. and UK. This is encouraging the foreign players o supply high quality food products in the countries that do not produce quantities that cater to the increasing demand.

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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

The growth in food and beverage distribution industry due to large scale transport of processed food across the globe will propel the commercial refrigeration equipment market growth. The demand for processed and packages food & beverages is rapidly growing due to the awareness regarding their nutritious value. Consumers are increasingly demanding frozen fruits and vegetables due to their increased shelf life. Also, the consumers are increasingly demanding frozen forms of perishable fruits such as berries.

The commercial refrigeration equipment market will grow significantly due to increasing investments in the food and beverage industry. In light of growing population, the players in the food and beverage industry are increasing the production to keep up with the continuously growing demand. For instance, the direct investment of Canada food processing abroad industry in 2013 was over USD 8 billion. Also, growing demand for the meat and meat products, that are perishable is propelling the demand for refrigeration systems in the forecast timespan.

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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

The report includes a lot of details pertaining to the production, growth rate of each segment, remuneration, price, as well as segmental market share.

Split by application, the market is divided into

  1. Food Service
  2. Food & Beverage Retail
  3. Food & Beverage Production
  4. Food & Beverage Distribution

This report contains detailed information pertaining to the consumption of the product as well as market share of the application, alongside the growth rate of every application segment.

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What are the key takeaways of this report?

  1. A well-detailed evaluation of the pricing trends has been given in the report, pertaining to the product, application, as well as regional landscapes
  2. A well-detailed analysis of the vendor matrix alongside the important companies that will help to better understand the competitive scenario in the global market
  3. Important insights pertaining to the regulatory spectrum surrounding the industry, along with the investments by many shareholders in the global market
  4. A significantly deep evaluation of the many parameters propelling the overall market growth in combination with their influence on the projection as well as dynamics of the global market
  5. A detailed understanding of the numerous available growth opportunities in the global industry
  6. An extensive evaluation of the various trends prevailing in the global business space

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for algosonline. 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 online. ...

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