Commercial Refrigeration Equipment Market Report by Growth & Regional Forecast to 2024 | Electrolux, Daikin Industries, Dover Corporation, Emerson, Johnson Controls, Parker Hannifin, Ingersoll Rand

The research report on Global Commercial Refrigeration Equipment Market provides the up-to-date market trends, the present market scenario, and the market forecast during 2019-2024. The complete analysis of Commercial Refrigeration Equipment industry on the global scale provides key details in form of graphs, statistics and tables which will help the market players in making key business decisions.

Commercial Refrigeration Equipment Market is projected to surpass USD 35 billion by 2024. Growing demand for frozen products across the globe is the primary driver for the commercial refrigeration equipment industry growth. Vegan and meat-eating consumers are increasingly looking for quick and easy solutions for their daily meals due to their busy schedules. According to the report published by One Green Planet, in 2016, 26% of the U.S. consumers are shopping for the frozen food products more frequently than in 2015.

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Asia Pacific commercial refrigeration equipment market is expected to witness growth due to rapidly growing GDP and emerging middle class in countries including India and China. Increasing disposable income and increasing number of women professionals is increasing the consumption of frozen foods in the region. Growing sea food industry in countries including Japan, South Korea, China, and Malaysia will augment the industry growth.

Growing demand for the transportation refrigeration equipment is expected to propel the commercial equipment refrigeration market due to increased trade of food products, thus increasing the commercial refrigeration equipment market growth. According to the World Trade Organization, the total food exports accounted for more than USD 1,400 Billion. Reduction in investment barriers in countries including India, Japan, and Singapore are allowing the food product manufacturers from countries including U.S. and UK. This is encouraging the foreign players o supply high quality food products in the countries that do not produce quantities that cater to the increasing demand.

Commercial Refrigeration Equipment Market, by Product:
1. Transportation refrigeration equipment
2. Refrigerators & freezers
3. Beverage refrigeration
4. Other equipment
5. Parts

Growth in food and beverage distribution industry due to large scale transport of processed food across the globe will propel the commercial refrigeration equipment market growth. The demand for processed and packages food & beverages is rapidly growing due to the awareness regarding their nutritious value. Consumers are increasingly demanding frozen fruits and vegetables due to their increased shelf life. Also, the consumers are increasingly demanding frozen forms of perishable fruits such as berries.

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Growing demand for the transportation refrigeration equipment is expected to propel the commercial equipment refrigeration market due to increased trade of food products, thus increasing the commercial refrigeration equipment market growth. According to the World Trade Organization, the total food exports accounted for more than USD 1,400 Billion. Reduction in investment barriers in countries including India, Japan, and Singapore are allowing the food product manufacturers from countries including U.S. and UK. This is encouraging the foreign players o supply high quality food products in the countries that do not produce quantities that cater to the increasing demand.

Some of the key vendors in the commercial refrigeration equipment market include:
1. Ali Group SPA
2. Daikin Industries
3. Dover Corporation
4. AB Electrolux
5. Johnson Controls
6. AHT Cooling Systems GmbH

Technological advancements such as implementation of IoT are providing opportunities to the manufacturers to develop advanced products.

Related News: https://www.globenewswire.com/news-release/2016/08/01/860569/0/en/Commercial-Refrigeration-Equipment-Market-size-is-forecast-to-reach-USD-47-billion-by-2023-Global-Market-Insights-Inc.html

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This release was published on openPR.