Press release
Commercial Refrigeration Equipment Market : Key Players and Production Information analysis
Incorporating product differentiation, expansion of product portfolios, and improving supply rate of equipment to end-use industries are a few other strategies implemented by most businesses present in the global commercial refrigeration equipment market. Haier, Inc. (Haier Group), Ingersoll Rand Plc, Whirlpool Corporation, Daikin Industries, Ltd., Hussmann Corporation, United Technologies Corporation – Unit (Carrier), Danfoss A/S, Dover Corporation, Electrolux AB, Metalfrio Solutions SA, Beverage-Air Corporation (Ali S.p.A), Illinois Tool Works Inc., and are chief companies working in this market.
Statistically speaking, the global commercial refrigeration equipment market had gained a revenue worth US$39.44 bn in 201, which is further projected to increase up to US$66.88 bn by 2022. Such a growth is expected to occur with a grand CAGR of 9.1% during the forecast period ranging from 2015-2022.
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Rising Demand for Fresh Foods Stokes Growth in this Market
Increasing demand for fresh foods with long shelf lives, especially when it comes to meat, fish, and egg products, has gradually stoked the global commercial refrigeration equipment market. Of these food categories, a surging consumption of sea food and associated products has translated into higher utilization of industrial and commercial refrigerants. Apart from fresh foods, processed food products have also witnessed rapidly increasing consumption, wherein utilization of commercial refrigeration is highly mandatory.
Notable advancements occurring in refrigeration equipment, with much focus imparted on achieving high efficiency along with price regulation, has been greatly responsible for fueling growth in the global commercial refrigeration equipment market growth. Lastly, this market is remarkably being benefitted by the rising number of horticultural and animal husbandry practices all over the world, wherein a dire need for storing animal meat and products exists. This purpose is effectively fulfilled with the help of commercial refrigerator equipment.
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