Commercial Refrigeration Equipment Market to Achieve Significant Growth in the Near Future Including Players: United Technologies, Hussmann, Electrolux, Dover Corporation & Daikin Industries, Ltd.

The commercial refrigeration equipment market is projected to reach $59,071.4 million by 2023. Development of organized retail and increasing demand for ready-to-eat food and beverages are the major factors driving market growth.

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.

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Food service refrigeration equipment for restaurants, hotels, hospitals, and other verticals are being widely deployed to store leftovers food, ingredients, frozen food, and prepped sauces to offer quality of food products to customers.

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.

The commercial refrigeration market was fragmented with top four companies, accounting for nearly 40% of the total market share in 2017. United Technologies Corporation was the largest player in terms of market share, owing to its global presence, superior power efficient refrigeration equipment, and well-diversified post-sale services.

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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.

Global Commercial Refrigeration Equipment Market Segmentation

Market Segmentation by Equipment Type

Beverage Refrigeration
Beverage cooling and dispensing units
Drinking fountains
Beer dispensing units
Soda fountain equipment
Others (juice dispenser and tailor-made beverage dispenser)
Walk-in Coolers
Packaged unit
Remote condensing unit
Remote plant
Transportation Refrigeration Equipment
Road
Rail
Marine
Air
Parts
Display Cases
Plug-in cases
Remote cases
Ice Making Machineries
Ice cube machineries
Ice flake machineries
Ice nugget machineries
Other Equipment (vending machines, cryogenic equipment, and liquid chiller)

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