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Global Commercial Refrigeration Equipment Market was valued at USD xx million in 2019 and is expected to reach at USD xx million by 2026 at a CAGR of xx% over forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Global Commercial Refrigeration Equipment Market Drivers and Restrains
The global commercial refrigeration market is primarily driven by the significant increase in the number of supermarkets, hypermarket, and organized retail chains that have opened around the globe. Commercial refrigeration is expected to witness significant growth on account of increasing consumption of frozen and processed foods. Increasing demand for frozen food, bakery products, and packaged food products is driving the demand for commercial refrigeration equipment. Moreover, in an effort to decrease carbon footprints, the manufacturers are focusing on developing commercial refrigeration equipment that consumes less or limited amount of energy.
However, need for frequent maintenance and potential technical issues arising due to lack of proper maintenance act as a major restraint for the market.
Global Commercial Refrigeration Equipment Market Segmentation Analysis
By Product Type, Global Commercial Refrigeration Equipment Market is segmented into Refrigerator & Freezer, Transportation Refrigeration, Refrigerated Display Cases, Beverage Refrigeration, Ice Cream Merchandiser, and Refrigerated Vending Machine. By Refrigerant Type market is segmented into Fluorocarbons, Hydrocarbons, and Inorganics. Fluorocarbons segment is expected to exhibit highest market share at a CAGR of xx% over forecast period. By Application Global Commercial Refrigeration Equipment Market into Hotels & Restaurants, Supermarkets, Hypermarkets, Convenience stores, and others. “Others” category includes hospitals, educational institutions, large pharmaceutical stores, and medical and life sciences. Of these, supermarkets category is expected to continue to hold the largest market share during the forecast period. Supermarkets are energy-intensive type of commercial buildings and witness increasing concern regarding the impact of refrigerant leakage on the environment. Hence, to maintain energy efficiency, adoption of innovative and energy-saving equipment has been observed. This results in a growing demand for commercial refrigeration equipment in supermarkets, globally.
Global Commercial Refrigeration Equipment Market Regional Analysis
By Geography Global Refrigeration Equipment Market is segmented into Europe, APAC, North America, MEA& Africa and Latin America. The Asia Pacific is expected to be the largest market of commercial refrigeration equipment at a CAGR of xx% during the forecast period. The increasing population in the APAC, improving economic conditions, growing disposable incomes, and a booming consumer appliances sector have led to growth in the commercial refrigeration equipment in the APAC. North America is also expected to exhibit significant market share over forecast period. Increase in the purchasing power parity and thriving food & retail sectors is the main factor behind the growth of the North America commercial refrigeration equipment market.
Global Commercial Refrigeration Equipment Market Competitive Landscape
Key players operating in the commercial refrigeration equipment market include Carrier Corporation (US), Emerson Electric Company (US), Daikin Industries, Ltd. (Japan), and GEA Group AG (Germany). Hussmann Corporation, AB Electrolux, Frigoglass S.A.I.C., AHT Cooling Systems GmbH, Ali Group, and Illinois Tool Works Inc.
These players are adopting various organic and inorganic growth strategies to enhance their regional presence, revenues and business operations.
The objective of the report is to present a complete calculation of the Global Commercial Refrigeration Equipment Market and contains thoughtful insights, historical data, facts, industry-validated market data and plans with a suitable set of assumptions and methodology.
The report also helps in the Global Commercial Refrigeration Equipment Market is a dynamic structure by identifying and analysing the market segments and project the global market size. The additional, report also focuses on the competitive analysis of key player’s by-product, financial position, price, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address the question of shareholders to prioritizing the efforts and investment shortly to the emerging segment in the Global Commercial Refrigeration Equipment Market.
Scope of Report
Global Commercial Refrigeration Equipment Market Segmentation by Product Type
• Refrigerator & Freezer
• Transportation Refrigeration
• Refrigerated Display Cases
• Beverage Refrigeration
• Ice Cream Merchandiser
• Refrigerated Vending Machine
Global Commercial Refrigeration Equipment Market Segmentation by Refrigerant Type
• Fluorocarbons
• Hydrocarbons
• Inorganics
Global Commercial Refrigeration Equipment Market Segmentation by Application
• Hotels & Restaurants
• Supermarkets & Hypermarkets
• Convenience Stores
• Others
Global Commercial Refrigeration Equipment Market Segmentation by Region
• Asia Pacific
• North America
• Europe
• Latin America
• Middle East & Africa
Global Commercial Refrigeration Equipment Market Major Players
• Carrier Corporation (US)
• Emerson Electric Company (US)
• Daikin Industries, Ltd. (Japan)
• GEA Group AG (Germany)
• Hussmann Corporation
• AB Electrolux
• Frigoglass S.A.I.C.
• AHT Cooling Systems GmbH
• Ali Group
• Illinois Tool Works Inc.
• United Technologies Corporation
• Dover Corporation
• Hussmann Corporation
• Whirlpool Corporation
• AB Electrolux
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However, high installation cost associated with commercial refrigerators and decline in the replacement rates for commercial refrigeration equipment hamper the market growth. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions. Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. comWeb: www. comAllied Market Research Blog: https://blog.
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The Global Commercial Refrigeration Equipment Market Report, in its latest update, highlights the significant impacts and the recent strategical changes under the present socio-economic scenario. Get | Download FREE Sample Report of Global Commercial Refrigeration Equipment Market @ https://www. Which application and type segment holds the maximum share in the Global Commercial Refrigeration Equipment market? What are the opportunities and challenges currently faced by the Commercial Refrigeration Equipment market? Purchase the Complete Global Commercial Refrigeration Equipment Market Research Report @ https://www.
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The global Commercial Refrigeration Equipment Market is estimated to be valued at US$ 53. The advantages of commercial refrigeration equipment include efficient cooling and freezing, temperature control, and extended shelf life of products. The increasing demand from the food and beverage industry for storing and preserving food products is driving the growth of the commercial refrigeration equipment market. Regionally, Asia Pacific is expected to be the fastest-growing and dominating region in the commercial refrigeration equipment market. The region's rapid urbanization, rising disposable income, and the growing food and beverage industry are driving the demand for commercial refrigeration equipment.
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The study elaborates growth rate of the Commercial Refrigeration Equipment market supported and analysed after exhaustive and reliable company profile analysis. Influence of the COVID-19 epidemic continued to be adverse for major key players in the Commercial Refrigeration Equipment market. An exhaustive evaluation of restrains included in Commercial Refrigeration Equipment report portrays dissimilarity to drivers and hence, gives room for tactical planning. This section also offers scope of varied sections and applications that can probably influence Commercial Refrigeration Equipment market in near future. Major players are profiled and the strategies are considered thoroughly to understand competitive outlook of Commercial Refrigeration Equipment market.
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Augmented uptake and demand for commercial refrigeration equipment worldwide encourage market growth. Manufacturers and global suppliers continue their innovations and invest substantially to develop certified commercial refrigeration equipment and advance environmentally friendly refrigerants, which furthers the market sales. Increasing demand for energy-efficient products from quick-service restaurants and the quadrupling chain restaurants provide impetus to the market growth. Major Players:Players leading the commercial refrigeration equipment market include EPTA (Italy), Williams Refrigeration (India), Kysor Warren (US), United Technologies Corporation (US), Voltas, Inc. Besides, high adoption rates of commercial refrigeration equipment and eco-friendly and energy-efficient refrigerant regulation in the US and Canada substantiate the market growth.
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The global Commercial Refrigeration Equipment Market is estimated to touch US$ 52.52 billion by the completion of the prediction period.
Growing demand for wrapped foodstuff and liquid refreshment by means of greater development in hospitality business has headed toward important development of the business.
Additionally, growing tendency concerning customer eating out and constant development of retail chains throughout the world comprising the Asia Pacific and Europe are backing the general development of the business.The commercial refrigeration equipment market on the source of Type of Application could span Foodstuff & Liquid refreshment Retail, Foodstuff & Liquid refreshment Production, Foodstuff & Liquid refreshment Circulation, Foodstuff Service.
This estimated to upsurge the capacity development in the subdivision of foodstuff & liquid refreshment circulation application.Download Free Sample Report @ https://www.millioninsights.com/industry-reports/commercial-refrigeration-equipment-market/request-sampleThe commercial refrigeration equipment industry on the source of Type of Selling Network could span Eateries, Supermarkets, Convenience Stores, Hypermarkets.
The subdivision of Hypermarkets was responsible for the market stake of income of more than 35% during the year 2015.
It is likely to be the speedily developing sector above the prediction period.
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