Press release
Commercial Refrigeration Equipment Market by 2023 Trends With Competitive Analysis; Players - United Technologies, Hussmann, Electrolux, Frigoglass, Dover Corporation, Daikin Industries, Ltd., AHT Cooling Systems GmbH, Ali Group and ITW
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On the basis of application, the commercial refrigeration equipment market has been categorized into food service, food and beverage retail, food and beverage distribution, and others; wherein “others” category includes pharmacy refrigeration, genetic preservation, and medical diagnostic applications.
In terms of value, APAC dominated the global commercial refrigeration equipment market, during the historical period, and is expected to witness the fastest CAGR of 9.3%, during the forecast period. This can be attributed to the ongoing industrialization efforts in developing countries such as China and India.
The consumption of ready-to-eat products, beverages, and frozen food has increased considerably worldwide in the recent years, which is further boosting the demand for commercial refrigeration equipment. Rising disposable income, along with the increasing impact of western lifestyle has fueled the acceptance of such products among the large middle-class consumers of developing countries.
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Some of the key players operating in the commercial refrigeration equipment market are United Technologies Corporation, Hussmann Corporation, AB Electrolux, Frigoglass S.A.I.C., Dover Corporation, Daikin Industries Ltd., AHT Cooling Systems GmbH, Ali Group S.p.A., Illinois Tool Works Inc. and Johnson Control International PLC.
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