Global Commercial Refrigeration Market : Key Players, Growth, Analysis 2020 to 2026
Commercial Refrigeration Market report provides the latest market data along with industry future trends, which keeps tracking of users driving revenue growth rate of commercial refrigeration market by by product type (beverage refrigerators, chillers, display cases, walk in coolers, freezers & refrigerators), application (food & beverage industry, food & beverage distribution, food service, retail industry, medical industry) market status and outlook of global and major regions, from manufacturers, and end industries. As this report is expected to help key players among the commercial refrigeration market it includes the five years Industry analysis and the 6 years annual forecast from to 2026. Some of the prominent participants in the global commercial refrigeration market are AB Electrolux, AHT Cooling Systems GmbH, Carrier Corporation, Daikin Industries, Ltd., Danfoss A/S, Dover Corporation, Haier lnc., Panasonic Corporation, Whirlpool Corporation, and Ingersoll-Rand plc. The global commercial refrigeration market is projected to grow at a CAGR of 5.0% over the forecast period of 2020-2026.
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Increasing Investments in R&D Activities, Product Innovation, and Entry of Smaller Players in Matured Economies Characterize the Global Commercial Refrigeration Market
Increasing investments in R&D activities, product innovation, and entry of smaller players in matured economies characterize the global commercial refrigeration market. Changing the lifestyle of consumers, increasing the number of female professionals, increasing demand for packaged foods & beverages drive the growth of the commercial refrigeration market. Increasing demand for frozen food and vegetables in various countries to cope up with the hectic work schedule, drive the growth of the commercial refrigeration market. Moreover, the introduction of zero-emission refrigeration systems for transportation is expected to drive the growth of the commercial refrigeration market, as it could improve the supply chain of food & beverages and retail sectors. The energy-efficient commercial refrigeration systems with good cooling capacities generate demand from the hospitality sector.
The strict regulations regarding the use of toxic refrigerants and the promotion of eco-friendly refrigerants by governments are anticipated to drive the growth of the commercial refrigeration market. The introduction and adoption of advanced technologies in monitoring and controlling refrigeration systems through predetermined settings or remotely through Wi-Fi-enabled systems are expected to generate demand from the food & beverages and hospitality sectors. Moreover, the introduction of eco-friendly refrigerants, cascade refrigeration systems based on variable speed compressors, and other energy-efficient refrigeration systems are anticipated to further enhance the growth of the commercial refrigeration market during the forecast period. On the contrary, fluctuating fuel prices, slow pace in up-gradation, and replacement of old commercial refrigeration systems are the major restraints for the growth of the global commercial refrigeration market.
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North America is the Largest Commercial Refrigeration Market
Among geographies, North America is the largest commercial refrigeration market, followed by Asia–Pacific and Europe. Asia-Pacific region is anticipated to become the fastest-growing commercial refrigeration market. The change in lifestyle of consumers, their preference for dining food outside the home more, and the significant growth in the food & service industry due to increasing sales, innovations as well as renovations of facilities are the factors that drive the growth of the North American commercial refrigeration market. The growth in the retail sector and increasing demand for frozen food are driving the growth of the European commercial refrigeration market. Increasing middle-class population with disposable income, expanding food and retail industries, and increasing consumption of convenience food and beverages, are anticipated to drive the Asia-Pacific commercial refrigeration market.
Commercial Refrigeration Market: Segmentation
The report on global commercial refrigeration market covers segments such as product type, and application. On the basis of product type, the sub-markets include beverage refrigerators, chillers, display cases, walk in coolers, freezers & refrigerators, and others. On the basis of application, the sub-markets include food & beverage industry, food & beverage distribution, food service, retail industry, and medical industry.
Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of the commercial refrigeration.
=> Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2026.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.