Commercial Refrigeration Market to be at $35.25 Billion Opportunity, and Share Growing at CAGR of 4.4% by 2027

𝐓𝐡𝐞 𝐜𝐨𝐦𝐦𝐞𝐫𝐜𝐢𝐚𝐥 𝐫𝐞𝐟𝐫𝐢𝐠𝐞𝐫𝐚𝐭𝐢𝐨𝐧 𝐦𝐚𝐫𝐤𝐞𝐭 𝐬𝐢𝐳𝐞 𝐰𝐚𝐬 𝐯𝐚𝐥𝐮𝐞𝐝 𝐚𝐭 $𝟐𝟖.𝟏𝟗 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝟐𝟎𝟏𝟗, 𝐚𝐧𝐝 𝐢𝐬 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐞𝐝 𝐭𝐨 𝐫𝐞𝐚𝐜𝐡 $𝟑𝟓.𝟐𝟓 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟐𝟕, 𝐠𝐫𝐨𝐰𝐢𝐧𝐠 𝐚𝐭 𝐚 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟒.𝟒% 𝐟𝐫𝐨𝐦 𝟐𝟎𝟐𝟏 𝐭𝐨 𝟐𝟎𝟐𝟕.

According to a new report published by Allied Market Research, titled, "Commercial Refrigeration Market by Product and End User: Global Opportunity Analysis and Industry Forecast, 2021-2027". The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.

𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/request-sample/5401

The growth of the global market for commercial refrigeration is driven by increase in demand for frozen & chilled products among consumers due to changes in lifestyle and rapid urbanization. Moreover, development of the organized retail sector coupled with increase in number of hypermarkets and supermarkets boosts the commercial refrigeration market growth. However, problems such as the need for frequent maintenance and potential technical issues arising due to lack of proper maintenance hamper the market growth.

Contrarily, advancements in commercial refrigerators such as integration of artificial intelligence (AI) coupled with rise in trend of automation of equipment and upsurge in number of food outlets & quick service restaurants especially in emerging economies are anticipated to provide potential opportunities for the growth of the commercial refrigeration market.

By end user, the supermarket/hypermarket segment accounted for a commercial refrigeration market share in 2019, and is expected to remain dominant during the forecast period. However, the retail pharmacies segment is expected to experience rapid growth with a CAGR of 6.0% from 2021 to 2027. This is attributed to the increased revenue from hospitals over the past few years, owing to rise in geriatric population and need for medical care.

Based on region, Asia-Pacific accounted for the largest share in 2019, holding more than two-fifths of the total market share, and will maintain its leadership status by 2027. However, LAMEA is expected to grow at the largest CAGR of 4.9% during the forecast period.

𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐚𝐧𝐝 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/checkout-final/0079cc85b0b48e37ea3b7c3aa386f7b8

Asia-Pacific is one of the prominent regions for commercial refrigeration, which accounted for 43.7% total market share in 2019. The medical refrigeration segment is expected to grow at the fastest CAGR of 5.1% throughout the forecast period, reaching $3.55 billion by 2027. This is attributed to rapid expansion of the retail pharmacy across the globe.

The commercial refrigeration industry is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Increase in demand for commercial refrigeration equipment in Asia-Pacific and LAMEA is expected in the near future, owing to rapid industrialization and implementation of automation in these regions. Moreover, rise in number of food outlets coupled with expansion of retail pharmacies and experience centers such as supermarkets and hypermarkets is expected to provide lucrative opportunities for the growth of the global market.

The key players profiled in the report include United Technologies Corporation, Daikin Industries Ltd., Illinois Tool Works Inc. (ITW), Johnson Controls International Plc, Dover Corporation, AB Electrolux, Panasonic Corporation, Ali Group S.r.l., Frigoglass S.A.I.C., and Haier Electronics Group Co., Ltd.

𝐊𝐞𝐲 𝐟𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐬𝐭𝐮𝐝𝐲:

○ Depending on type, the chest refrigeration segment in the market is expected to grow at a CAGR of 4.1% from 2021 to 2027.
○ Region wise, Asia-Pacific is projected to maintain its leading position throughout the forecast period, growing at a CAGR of 4.6%.
○ On the basis of end user, the supermarket/hypermarket segment accounted for 26.13% of the share in 2019; however, the retail pharmacies segment is expected to grow at a CAGR of 6.0% from 2021 to 2027.
○ China is expected to occupy a major share in the Asia-Pacific market in 2019.

𝐄𝐧𝐪𝐮𝐢𝐫𝐞 𝐌𝐨𝐫𝐞 𝐀𝐛𝐨𝐮𝐭 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/purchase-enquiry/5401

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𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 "𝐀𝐌𝐑 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬:

○ Europe Commercial Refrigeration Market is projected to reach $9,921.0 million by 2028
https://www.alliedmarketresearch.com/europe-commercial-refrigeration-market-A12711

○ Dishwasher Market is estimated to reach $ 54,293.4 million by 2030
https://www.alliedmarketresearch.com/dishwasher-market-A13877

○ White Goods Market is estimated to reach $ 1,031.0 billion by 2027
https://www.alliedmarketresearch.com/white-goods-market-A06558

○ Hand Dryer Market is projected to reach $3,100.1 million by 2031
https://www.alliedmarketresearch.com/hand-dryer-market

○ Household Appliances Market is projected to reach $763,451 million by 2025
https://www.alliedmarketresearch.com/household-appliances-market

○ Commercial Steamer Market Size, Share, Growth, Trends and Forecasts 2021-2027
https://www.alliedmarketresearch.com/commercial-steamer-market-A07943

○ Water Heater Market is projected to reach $48,519 million by 2025
https://www.alliedmarketresearch.com/water-heater-market

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