Global Commercial Refrigeration Equipment Market Overview:
- The
global commercial refrigeration equipment market was valued at US$ 40.1
billion in 2021 and is projected to reach US$ 75.34 billion by 2031, with a CAGR of 6.7% from 2022 to 2031.
- Increasing
spending on home appliances, including refrigerators, due to improved
quality of life is driving the demand for commercial refrigeration
equipment.
Key Findings:
- The
expansion of the non-alcoholic beverages market is driving the increased
use of commercial freezers in various settings such as hotels,
restaurants, and airports.
- Compact,
reach-in, and under-counter refrigerators are preferred types for
restaurants, and understanding their functionalities is crucial for
effective use.
Market Trends:
- Growing
demand for necessities like food and groceries has led to an increase in
convenience stores, supermarkets, and department stores, benefiting the
commercial food refrigeration equipment market.
- Hypermarkets
and supermarkets within the food retail segment are expected to dominate
the market for commercial refrigeration equipment, driven by consumer
habits and international food trade.
Regional Outlook:
- Asia
Pacific is anticipated to experience significant expansion in the global
commercial refrigeration equipment market, driven by rising urbanization,
proliferation of food supermarkets, and retail chains.
- North
America is also poised for growth, with increasing demand for eco-friendly
and energy-efficient refrigeration systems due to stricter regulations and
greater environmental awareness.
Key Players and Developments:
- Major
players in the market include AB Electrolux, Daikin Industries Ltd., Dover
Corporation, Emerson Electric Co., Frigoglass S.A.I.C., Fujimak
Corporation, GEA Group AG, Hussmann Corporation, Johnson Controls
International PLC, and United Technologies Corporation.
- Key
developments include expansion announcements by Fujimak Corporation in
Malaysia and the Philippines, collaboration extension between Beijer Ref
and Embraco, and product launches by Stay Cold in the Middle East and
Africa.
Segmentation:
- Product
Type: Freezer, Refrigerator, Merchandiser and Display Refrigerator,
Reach-in refrigerators & Freezers, Refrigerated Vending Machines,
Display Cases/Showcase, Ice Cream Cabinets, Bakery Display Cases, Ice
Cream Machines and Ice Machines, Others.
- Category:
Self-contained, Remote Condensing.
- Refrigerant
Type: Fluorocarbons, Inorganic, Hydrocarbons.
- Application:
Food Service, Food Retail, Food Distribution, Food Production, Others.
- Distribution
Channel: Direct Sales, Indirect Sales.
- Region:
North America, Europe, Asia Pacific, Middle East and Africa, South
America.
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