Press release
Beverage Refrigeration Market Trend to 2024 Profiling Electrolux, Avanti, Dover Corporation, Whirlpool Corporation, Edgestar, Haier, Ford and General Electrics
Beverage Refrigeration Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Belgium, Poland, Russia, China, India, Japan, Australia, South Korea, Philippines, Thailand and etc), Application Development status, Price Trend, Competitive Market Share & Forecast, 2017 – 2024.Escalating demand for refrigerators to store and serve drinks for social gathering and private events, is a key factor driving beverage refrigeration market growth. Ongoing technological advances to reduce the overall cooling time and consumer demand for distinctive features such as bottom freezer drawer and powerful filtered water will boost beverage refrigeration market.
Beverage Refrigeration Market is estimated to exceed USD 4.5 billion by 2024; as per a new research report.
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Increasing consumer preference for packaged drinks which are convenient to consume at home will support the product demand. According to recent statistics, the global consumption of packaged drinks was estimated more than 1.05 trillion liters in 2016 and Chinese consumption amounted to about 178.6 billion liters.
Manufacturers are anticipated to invest in new product development to comply with new energy standards implemented by the regulatory bodies. Further, increasing penetration of refrigerators that employ specific features such as modifiable shelves to accommodate bottles and cans will boost product sales.
Global beverage refrigeration market is fragmented in nature. Key industry players are Electrolux, Daikin Industries, Avanti, Dover Corporation, KingsBottle, Whirlpool Corporation, Edgestar, Haier, Ford and General Electrics. Other Industry participants are Koolatron, Coca-Cola, Danfoss, Gamko, Liebherr, Marvel, Kegco, Danby, Johnson Controls, U-line, HABCO, Allavino, Kenmore, Marvel, United Technologies Corporation and Illinois Tool Works.
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Rising demand to preserve milk in dairy shops will propel coolers demand over the projected timeframe. Diary companies are upgrading their existing capacities, and setting up cold storages along with the processing plant. This will generate the overall revenue over the forecast period.
Storage beverage refrigeration estimated to register over 4% CAGR in terms of volume by 2024. Increasing demand of premium refrigerators with aesthetic features in high end restaurants, convenience stores and professional kitchens will propel industry.
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North America beverage refrigeration market is anticipated to surpass USD 1 billion by 2024. This can be credited to escalating consumption of refreshment drinks and technological improvements in refrigeration systems. In addition, government encouraging utilization of energy-efficient and eco-friendly technologies in refrigerators.
Asia Pacific market holds over 20% of overall industry share in 2016. According to industry estimates, the region is anticipated to account for more than two-thirds of the global beverages consumption by 2020. The region accounts for 60% of the world population and increasing consumption will provide lucrative opportunities for manufacturers.
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Related Reports: -
Global (North America, Europe and Asia-Pacific, South America, Middle East and Africa) Industrial Refrigeration Equipments Market 2017 Forecast to 2022
Industrial refrigeration equipment refers to machines and systems used for industrial refrigeration application, which generally include refrigeration compressor, evaporator unit, industrial rack, heat exchanger and etc.
https://www.marketstudyreport.com/reports/global-north-america-europe-and-asia-pacific-south-america-middle-east-and-africa-industrial-refrigeration-equipments-market-2017-forecast-to-2022/?utm_source=RR-SP
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