The “Global Commercial Refrigeration Equipment Market, By Product Type (Transportation Refrigeration (Shipping Container, Trailer, and Truck), Refrigerator and Freezer (Walk in, Reach in, and Chest), Beverage Refrigeration (Drinking Fountain, Soda Fountain, Beverage Dispensing, Beer Dispensing), Refrigerated Display Cases (Wine Cases, Other Beverage Cases), Ice Machine, and Refrigerated Vending Machine); By Application (Food & Beverage Production, Food & Beverage Retail, Food & Beverage Distribution, and Food Service), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) – Global Forecast to 2027” was valued at US$ US$ 28.10 billion in 2018 and is expected to witness a CAGR of 5.2% over the forecast period (2019–2027). Browse over 55 market data tables and 40 figures through 350 pages on "Commercial Refrigeration Equipment Market - Global forecast to 2027”. Commercial refrigeration equipment is specifically designed for commercial applications with remote or self-contained condensing units, featuring a wide range of temperature control options. These find significant application in food & beverage production, distribution, retail, and food service applications.

To know the latest trends and insights prevalent in the global commercial refrigeration equipment market, click the link here: https://www.coherentmarketinsights.com/market-insight/commercial-refrigeration-equipment-market-951

According to Worldometers.info, in 2017, the global population of the world was around 7.55 billion, witnessing growth rate of over 1.12% in comparison to the previous year. Increasing population, in conjunction with improvement in the standard of living has led to significant increase in demand for frozen food and related products across the globe. Increasing preference among customers to preserve food, is expected to provide substantial growth for the global commercial refrigeration equipment market during the forecast period (2019 – 2027) The Asia Pacific is expected to dominate the market of commercial refrigeration equipment during the forecast period. The increasing population in the region, improving economic conditions, such as rising GDP & disposable incomes, and a booming consumer appliances sector have led to growth in the commercial refrigeration equipment in the region. According to analysis, in 2016, consumer spending was over 1,000 billion (PPP) which boosted the growth of food and beverage industry in Asia Pacific which further supporting the sales of commercial refrigeration equipment.

In addition, the growth in the manufacturing sector, increase in spending on private & public infrastructure development and rapid urbanization are the growth factor for the commercial refrigeration equipment market in Asia Pacific region. According to analysis, urban population in China is expected to reach around 1.4 billion by 2025, as compared to 782 million in 2016, whereas urban population in India is expected to reach around 1.4 billion by the end of 2023. However, demand for replacement and up-gradation of existing refrigeration equipment are expected to create considerable growth opportunities in the global commercial refrigeration equipment market.

Key Takeaways of the Global Commercial Refrigeration Equipment Market:

  • The global commercial refrigeration equipment market is estimated to exhibit a CAGR of 5.2% over the forecast period (2019–2027), owing to the growing food & beverages industry globally
  • Among product type, the refrigerated display cases segment is expected to witness highest demand over the forecast period.
  • Among application, the food & beverage distribution segment is expected to be the fastest growing segment owing to rampant growth of multi-chain food businesses and growing inclination of consumers towards various types of cuisines
  • Among regions, Asia Pacific is expected to witness the fastest growth over the forecast period. According to analysis, the commercial refrigeration equipment market in China is expected to be valued at around US$ 8.3 billion by 2027, witnessing the highest CAGR of over 7.9% over the forecast period. Growth of the retail industry and increased consumer spending on edible products available outside homes have boosted demand for commercial refrigeration equipment.
  • Some of the major players in the global commercial refrigeration equipment market are United Technologies Corporation, Ingersoll-Rand plc, Johnson Controls Incorporated, Daikin Industries Limited, Dover Corporation, Hussmann Corporation, AHT Cooling Systems GmbH, Ali SpA, Illinois Tool Works Incorporated, Emerson Electric Company, Leer Incorporated, True Manufacturing Company Incorporated, and Whirlpool Corporation
Existing Clientele

Joining thousands of companies around the world committed to making the Excellent Business Solutions.

View All Our Clients

Our Trusted Patner