Factors that Impact on the Commercial Refrigeration Equipment Market in Upcoming Years!
Global "Commercial Refrigeration Equipment Market is estimated to be USD 32.0 billion in 2021 and is projected to reach USD 43.3 billion by 2026, at a CAGR of 6.2%, from 2021 to 2026. The growth of the market can be attributed to the improving consumer lifestyles and flourishing food and healthcare industries, growing cold chain market, and increasing use of advanced technologies, for instance, magnetic refrigeration.
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Browse 259 market data Tables and 39 Figures spread through 254 Pages and in-depth TOC on "Commercial Refrigeration Equipment Market”
The supermarkets & hypermarkets segment is estimated to be the largest segment of the commercial refrigeration equipment market, based on application, in 2021.
In terms of application, the supermarkets & hypermarkets segment is estimated to be the largest segment of the commercial refrigeration equipment market in 2021. Various commercial refrigeration equipment (CRE) such as display cases, refrigerated vending machines, among others, are being used as selling points in supermarkets & hypermarkets. High consumption of FMCG products including ready-to-eat salads and sandwiches and beverages, among others, are sold using CRE products to help improve customer service and engagement.
Asia Pacific is expected to be the largest market for commercial refrigeration equipment during the forecast period.
Asia Pacific is the largest market for commercial refrigeration equipment, globally. The region consists of key revenue-generating countries, such as India and China. These countries have a large consumer base and lucrative opportunities for chilled and frozen food products. In addition, development in the automotive industry of these countries is expected to boost the growth of the refrigerated transport market in the region.
Key players in the commercial refrigeration equipment market include Carrier (US), Emerson Electric Company (US), Daikin (Japan), Danfoss (Denmark), and GEA Group (Germany).
Carrier Corporation is a leading company in the air conditioning, heating, and refrigeration industries. Carrier is one of the world’s leading providers of refrigeration and air conditioning solutions, and a part of United Technologies Corp, operating in its UTC Climate, Controls, & Security segment. The company was established to provide solutions for various applications in transport refrigeration, air conditioning, and commercial refrigeration equipment, among other industries. The company provides a broad range of refrigerated cabinets, freezers, counters, systems, and controls.
Emerson Electric Company is one of the leading providers of engineering services, globally. The company provides solutions for commercial, industrial, and residential applications. It operates through the commercial & residential solutions and automation solutions segments. The commercial & residential solutions segment is one of the leading providers of air conditioning, heating, and refrigeration solutions for commercial, industrial, and residential applications. It manufactures condensing units enhanced with the latest compressor technology
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