With CAGR 9.0%, Commercial Refrigeration Equipment Market will reach $61.44 bn ,Globally by 2021

According to the report, published by Zion Market Research, global demand for industrial refrigeration equipment market was valued at USD 36.63 billion in 2015 and is expected to generate revenue of USD 61.44 billion by end of 2021, growing at a CAGR of slightly above 9.0% between 2016 and 2021.

Refrigeration has the wide range of applications including household refrigerators, industrial freezers, cryogenics, and air conditioning. Commercial refrigeration equipment is refrigerator designed particularly for commercial use with a broad range of temperature control and self-contained condensing units. Commercial refrigeration equipment is typically used for refrigeration processes in food and beverage industry. It is used for food storage and merchandising purposes by the food wholesale industry, such as supermarkets, specialty food stores, grocery stores, and convenience stores. It is also used in restaurants and cafeterias.

Request Free Sample copy of Research Report @ https://www.zionmarketresearch.com/sample/commercial-refrigeration-equipment-market

Rising number of hypermarkets, specialty food stores, and supermarkets is expected to be the major drivers for the global commercial refrigeration equipment market. In addition, the changing food consumption and increasing worldwide food trade are expected to trigger the growth of commercial refrigeration in the coming years. Varying food consumption patterns, increase in the retailing of commercial refrigeration equipment are expected to be the key factors driving the global commercial refrigeration industry. Rising buy and sell purchase of frozen food items among developing countries due to changing consumption trends drives demand for commercial refrigeration equipment. However, high energy consumption limits adoption by small retailers and increasing fuel costs may pose the challenge to commercial refrigeration equipment market.

Based on product, commercial refrigeration equipment market has been segmented into transportation refrigeration equipment, refrigerators and freezers, beverage refrigerators, parts and others (ice machines, refrigerated vending machines, display cases, cryogenic equipment, liquid chillers, and small market products). The commercial refrigeration equipment market was dominated by transportation refrigeration equipment segment which accounted for largest share due to the increasing international food trade across the globe. Further, it is expected to continue its dominance over the forecast period. Beverage refrigerators segment is expected to witness moderate growth due to the rising number of restaurants, especially in the fast-food segment.

Related Reports:

Circuit Breakers Market: https://www.zionmarketresearch.com/report/circuit-breakers-market

Nanoelectromechanical Systems Market: https://www.zionmarketresearch.com/report/nanoelectromechanical-systems-market

The commercial refrigeration equipment market is segmented into applications such as food service, food, and beverage production, food, and beverage distribution, food and beverage retail and others. In terms of revenue, the food service application segment dominated the market in 2015. At present, food service and food and beverage retail application are acting as drivers for the growth of the commercial refrigeration equipment market. The increase in worldwide food trade is creating the demand for frozen foods, processed foods and storing seafood across the globe.

North America is expected to remain the dominant region over the forecast period. Increasing consumer expenses is expected to encourage food industry participants to expand the number of retail restaurants in the U.S. Asia-Pacific is projected to be the fastest growing and the largest revenue contributing region in commercial refrigeration equipment market during the forecast period. It accounted for over 34% share of the entire market for commercial refrigeration equipment in 2015. Europe and Latin America are also expected to experience significant growth in the years to come.

Browse detail report with in-depth TOC @
https://www.zionmarketresearch.com/report/commercial-refrigeration-equipment-market

Some of the key players in commercial refrigeration equipment market include Dover Corporation, Daikin Industries, Ltd., Whirlpool Corporation, AHT Cooling Systems GmbH, AB Electrolux, Hussmann Corporation, Ingersoll-Rand plc, Illinois Tool Works Inc., United Technologies Corporation (Carrier), and Haier, Inc. among other.

About Us:
Zion Market Research is an obligated company. We create futuristic, cutting edge, informative reports ranging from industry reports, a company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.

Contact Us:
Zion Market Research
4283, Express Lane,
Suite 634-143,
Sarasota, Florida 34249, United States
Tel: +49-322 210 92714
USA/Canada Toll-Free No.1-855-465-4651
Email: sales@zionmarketresearch.com
Website: http://www.zionmarketresearch.com

This release was published on openPR.