Press release
Sales of Commercial Refrigeration Equipment Market Report : Latest Innovation & Upcoming Trends Analysis, Top Companies Technical Vision, Demand by Regions
Market Size and Growth
From 2017 to 2025, the commercial refrigeration equipment market is projected to experience significant growth. The increasing urbanization and changing food consumption patterns have fueled the demand for advanced refrigeration solutions. The market size was estimated at US$927.4 mn in 2016 and is expected to reach US$1,619.0 mn by 2025, growing at a compound annual growth rate (CAGR) of 6.5%.
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Market Segmentation
The commercial refrigeration equipment market can be segmented by service type, sourcing type, application, industry vertical, and region.
By Service Type:
Installation
Maintenance and Repair
After-Sales Support
By Sourcing Type:
In-House
Outsourced
By Application:
Food Service
Retail
Hospitality
Food and Beverage Production
By Industry Vertical:
Food and Beverage
Pharmaceuticals
Chemical
Hospitality
Retail
By Region:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Regional Analysis
North America: Dominates the market due to the high demand for frozen and chilled food products and the presence of leading market players.
Europe: Follows closely with substantial growth in the food and beverage sector and stringent regulations on food safety and storage.
Asia Pacific: Expected to witness the highest growth rate due to rapid urbanization, increasing disposable incomes, and a booming retail sector.
Latin America and the Middle East & Africa: Show steady growth with increasing investments in the retail and hospitality sectors.
Market Drivers and Challenges
Market Drivers:
Rising demand for frozen and chilled food products.
Technological advancements in refrigeration equipment.
Expansion of retail chains and supermarkets.
Growing foodservice industry.
Market Challenges:
High energy consumption and associated costs.
Stringent environmental regulations.
High initial investment costs.
Need for regular maintenance and repair services.
Market Trends
Energy-efficient Refrigeration Systems: Increased focus on sustainability is driving the adoption of energy-efficient refrigeration solutions.
Smart Refrigeration Units: Integration of IoT and AI for real-time monitoring and predictive maintenance.
Natural Refrigerants: Growing use of environmentally friendly refrigerants like ammonia and CO2.
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Competitive Landscape
The commercial refrigeration equipment market is highly competitive with key players focusing on product innovation, strategic partnerships, and mergers and acquisitions to strengthen their market position. Major players include Carrier Corporation, Emerson Electric Co., Daikin Industries Ltd., Danfoss, and Johnson Controls International Plc.
Future Outlook
The future of the commercial refrigeration equipment market looks promising with continued technological advancements and increasing demand for efficient refrigeration solutions. The adoption of smart technologies and environmentally friendly refrigerants is expected to shape the market's future.
Key Market Study Points
Market size and growth projections from 2017 to 2025.
Segmentation analysis by service type, sourcing type, application, industry vertical, and region.
Regional analysis highlighting key growth areas.
Market drivers and challenges influencing market dynamics.
Current market trends and their impact on future market growth.
Competitive landscape with profiles of major market players.
Future outlook and key opportunities in the market.
About Us:
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
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