Commercial Refrigeration Equipment Market Know The Key Growth Drivers Developments and Innovations

While a wide range of companies operate in the market, below is a broad classification of these companies:
– Large refrigeration system manufacturers.
– Large technology manufacturers with a presence in refrigeration systems.
– Small niche refrigeration equipment and technology manufacturers.
– Conglomerates active in multiple verticals, including industrial products.

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North America is the largest and most prominent user of commercial refrigeration equipment. The region, which consists of the U.S. and Canada, is expected to see a strong growth rate in the coming years. However, its estimated lower-than-average market growth will result in a decline of market share by 2022. Europe follows and is also expected to see a slower-than-average growth rate. APAC on the other hand is the fastest growing market and will see significant gains in market share during the reporting period.

Refrigerators and freezers was the biggest segment with REDACTED market share in 2016, but is projected to give up market share due to its slower growth rate. The others segment includes refrigerated displaycases, ice machines, refrigerated vending machines, liquid chillers, refrigeration equipment parts, etc. Ofthese, all except liquid chillers are expected to be the key subsegments during the reporting period.

Fluorocarbons is the top refrigerant type, though it continues to fall under strict governmental regulations due to its harmful impact on the environment. Globally, usage of fluorocarbons is on the decline, which is leading to alternatives such as hydrocarbons and inorganics to continue increasing market share by 2022.

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This BCC Research report has identified the following key points:
– Global demand for commercial refrigeration equipment totaled around REDA CTED in 2016.
– Global demand is expected to increase from an estimated REDA CTED in 2017 to around REDACTED in 2 022.
– The global commercial refrigeration equipment market is expected to rise at a CAGR of REDACTED between 2017 and 2022.”

“Report Scope:

Commercial refrigeration equipment is defined as refrigeration systems that maintain temperatures at a level below than its surroundings, in order to avoid spoilage of perishable products, including food items. Commercial refrigerator models can be horizontal, semi-vertical or vertical, and operate at a chilled, frozen, combi chilled and frozen, or variable temperature. Equipment is used in transportation refrigeration units, to display food items and other perishable store merchandise.

Commercial refrigeration equipment finds applications in hypermarkets, supermarkets, convenience stores, specialty food stores, e-commerce, and other end users. The others segment includes general stores, small unorganized stores (mostly in emerging regions), as well as distributors and producers of raw products, such as meats, vegetables, etc.

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Commercial refrigeration equipment uses various refrigerants, including fluorocarbons, inorganics, hydrocarbons/naturals and others. The others segment mostly comprises refrigerants that are a mix of inorganics or naturals and fluorocarbons.

The commercial refrigeration equipment market can be broadly categorized into transportation refrigeration equipment, refrigerators and freezers, beverage refrigeration, and others. While transportation refrigeration equipment dominates the market, and is also the fastest-growing segment, the others segment is significantly large and includes refrigerated display cases, ice machines, refrigerated vending machines, liquid chillers, refrigeration equipment parts, etc.

The scope of this report includes transportation refrigeration equipment, refrigerators and freezers, beverage refrigeration, and others segment related to commercial refrigeration equipment. In the others segment, commercial refrigeration equipment parts hold a major market share. Along with product/equipment/hardware revenue, this report also considered services revenue.

The report includes distinct types of companies such as:
– Large refrigeration system manufacturers.
– Large technology manufacturers with a presence in refrigeration systems.
– Small niche refrigeration equipment and technology manufacturers.
– Conglomerates active in multiple verticals, including industrial products.

In the services segment, the report covers all forms of services such as professional services, deployment and integration, and support and maintenance. However, stand-alone service providers that provide post-sale services are not in the scope of this report. BCC Research also excluded technology companies that may have a strong presence in refrigeration equipment and technology but are not necessarily active in commercial refrigeration.

The report begins by introducing the reader to how the market for commercial refrigeration equipment has evolved over time and how various factors impact the market. The report will then proceed to identify the following:
– Primary forces with a direct impact on the global commercial refrigeration equipment market.
– Secondary forces that have an indirect impact.
– Key funding and financing in this space.
– Some key challenges that may hinder the growth of this market.
– Key trends visible in the market.
– Leading end users of the commercial refrigeration equipment market.
– Demand in Asia-Pacific, North America, Europe, Middle East and Africa, and South America for commercial refrigeration equipment.

Report Includes:

– 83 tables
– An overview of the global market for commercial refrigeration equipment
– Analyses of global market trends, with data from 2016 and 2017, and projections of compound annual growth rates (CAGRs) through 2022
– Identification of segments with high growth potential and their future applications
– Explanation of major drivers and regional dynamics of the market and current trends within the industry
– Detailed profiles of major vendors in the market, including Ali Group, Blue Star Ltd., Daikin Industries, Ltd., Electrolux AB and Panasonic Corp.”

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This release was published on openPR.