Global Commercial Refrigeration Equipment Market is Set to Reach USD 34,567.3 Million by 2025, Observing a CAGR of 2.7% during forecast period (2020–2025)

The global commercial refrigeration equipment market is expected to grow at a CAGR of 2.7% during the forecast period with its market size predicted to reach USD 34,567.3 million by 2025. The increasing demand for ready-to-eat food and the mounting number of organized retail shops are the major factors leading to the high demand of commercial refrigeration equipment in the global market.

Download Free PDF Sample Copy of this Research Report at https://www.vynzresearch.com/semiconductor-electronics/commercial-refrigeration-equipment-market/request-sample

COVID-19 has hit the commercial refrigeration industry hard. The production and demand has dipped, operations shut and supply have been disrupted. Manufacturers have reduced CAPEX (capital and expenditure) and capacity to 30-50%. Workforce shortages are one of the major cause for the reduction. A decline in production has been evident across the region and North America and Europe are among hardest hit by Corona following Asia-Pacific region. The demand for commercial refrigeration equipment have declined as customer has been cautious in making new purchases. The COVID-19 impact has been prevalent in 2020 and its impact will be witnessed in the coming years.

Increasing utilization and demand for refrigeration systems in various grocery stores, supermarkets, convenience stores and speciality food stores

Increasing utilization and demand for refrigeration systems in various grocery stores, super markets, convenience stores and speciality food stores are the key trends observed in the commercial refrigeration equipment market across the globe. Furthermore, growth in the food service industry has also lead to increasing acceptance of the refrigeration system in restaurants, commercial kitchens and cafeteria. Customization of the refrigeration system according to consumer demand is another trend witnessed in the commercial refrigeration equipment industry.

Read Full Research Report Description at https://www.vynzresearch.com/semiconductor-electronics/commercial-refrigeration-equipment-market

Based on equipment type, the commercial refrigeration equipment market is segmented into walk-in coolers, beverage refrigeration, transportation refrigeration equipment, display cases, parts, ice making machineries, and others. The other equipment includes vending machines, cryogenic equipment, and liquid chillier. Of all the equipment type, the highest growth in the demand for the display cases has been observed over the last five years which is anticipated to remain the highest among all commercial refrigeration equipment types during the forecast period. The old infrastructures of the food and beverages shops and restaurants in the emerging markets are being upgraded which has been one of the major reasons for high growth of display cases shipments, globally.

The walk-in coolers hold the largest share in the market since walk-in coolers helps the users in reducing operating costs, convenience and flexibility. Furthermore, these coolers are considered to be most efficient alternative for reducing electricity cost and helps in keeping food fresh for longer time span.

The walk-in coolers category has been further categorized into remote condensing unit, packaged unit, and remote plant. Among these, packaged unit holds the largest share in the market during the historical period, and is expected to continue holding the largest share, globally, in future.

The display cases category has been further bifurcated into plugin cases and remote cases. Among these two, plug in cases category holds a larger share in the market.

The beverage refrigeration category has been further bifurcated into beverage cooling & dispensing units, drinking fountains, beer dispensing units, soda fountain equipment, and others. Of all, the beverage cooling & dispensing units hold the largest share in the market.

The ice making machineries category has been further bifurcated into cubes, flakes, and nuggets. Of all, ice cubes machineries category hold the largest share in the market.

Geographically, Asia-Pacific is the largest market for commercial refrigeration. The region accounted for 35.8% of sales commercial refrigeration equipment in 2019. The increasing disposable income, improving infrastructure, and large population base are the major factor leading to the largest share of the region.

Key players in the commercial refrigeration equipment market are investing heavily in improving the quality of these equipment and developing the latest technologies that is strengthening their position in the market. However, it has been observed that local players are depending upon new technology to develop cost efficiencies, thus increasing the rivalry in the market to some extent.

Buy directly this report at https://www.vynzresearch.com/buy_report/TWpjNQ==/YzJsdVoyeGxYM1Z6WlhKZmJHbGpaVzV6WlE9PQ==

Some of the major players operating in the global commercial refrigeration equipment market are Carrier Global Corporation, Hussmann Corporation, AB Electrolux, Frigoglass S.A.I.C., Dover Corporation, Daikin Industries Ltd., AHT Cooling Systems GmbH, Ali Group S.p.A, llinois Tool Works Inc., and Johnson Controls International plc.

Contact Us:

VynZ Research
Call: +91-996-028-8381
Toll-Free (U.S. and Canada): +1-888-253-3960
Email: enquiry@vynzresearch.com

About VynZ Research

VynZ Research is a market research firm offering research, analytics, and consulting services on business strategies. The company focuses on providing valuable insights on various technology verticals such as Chemicals, Automotive, Transportation, Energy, Consumer Durables, Healthcare, ICT and other emerging technologies. VynZ Research assists enterprises to take strategic decisions for helping their businesses to grow. The reports developed by VynZ are based on market facts that include comprehensive analysis and quantification of market drivers, industry dynamics, opportunities, challenges, threats, market shares and anticipated new trends & technologies arising across a wide range of industries.

This release was published on openPR.