Press release
Significant Growth Foreseen by Refrigeration Pumps Market During 2016 - 2026
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Global Refrigeration Pumps Market: Market Dynamics
The global retail market has been estimated to grow at annual rate of 4% over the next ten years. This is expected to increase the demand for refrigeration pumps, thus driving the growth of refrigeration pumps market. Refrigeration pumps are used in supermarkets where cooling is required in order to maintain the food quality for longer time span. The increasing commercial sector is also expected to fuel the growth of refrigeration pumps market over the forecast period. Moreover, the changing lifestyle of consumers has led to rapid increase in demand for packed food products such as dairy products, chilled products and confectionery among others. This factor is also expected to boost the global refrigeration pumps market over the forecast period.
Increased maintenance cost and ensuring proper performance aligns are expected to be challenges for the key players in global refrigeration pumps market. Increased product innovation for cost effective refrigeration pumps with more efficiency can create new opportunities for key players in this market.
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Global Refrigeration Pumps Market: Segmentation
The global refrigeration pumps market can be segmented based on product type as
Open Type Refrigerant pump
Closed Type Refrigerant Pump
The global refrigeration pumps market can also be segmented based on application as:
Food & beverages
Electrical and electronics
Industrial
Commercial
Others
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Global Refrigeration Pumps Market: Regional Outlook
The global refrigeration pumps market is segmented based on geography as North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan and Middle East and Africa. Asia Pacific is expected to dominate the global refrigeration pumps market over the forecast period. China and India are anticipated to grow at the highest pace over the forecast period. Latin America and Middle East and Africa are also expected to witness high growth over the forecast period.
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