Commercial refrigeration equipment manufacturers Market Poised for Steady Growth in the Future

Global commercial refrigeration equipment manufacturers to Exhibit a Healthy Growth Over 2025

According the latest report published by Market Research Future (MRFR), the global commercial refrigeration equipment manufacturers is projected to exhibit a compound annual growth rate of 5.1% between 2015 and 2015. Commercial refrigeration equipment is used for heavy-duty refrigeration application and caters to large-scale retail outlets, supper markets, departmental stores, convenience store, and restaurants among others. The equipment was developed primarily for industrial and commercial purposes.

Over the years, commercial refrigeration equipment has continued to diversify. This has led to development of application-specific refrigerators such as display case, walk-in coolers, ice making machines, beverage machines etc. In terms of functionality, they offer vending machines, reach-in coolers, vending machines, liquid-chillers and cryogenic refrigeration. Rapid urbanization and industrialization has led to development of organized food retail chains, hypermarkets and supermarkets in emerging economies such as China, Brazil, Mexico and India. Further, the growth of the F&B sector in these countries is also providing an impetus to the commercial refrigeration equipment manufacturers. These countries are viewed as lucrative consumer markets that offer tremendous business opportunities.

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The growth of industries such as the hospitality and the restaurant is also fuelling the demand for commercial refrigeration equipment. This can be linked with expediated tourism across the globe. The millennial population is more willing to spend on travelling and experiencing exotic food delicacies, which is creating new business opportunities for the hospitality industry.

Global commercial refrigeration equipment manufacturers: Segmental Analysis

The report includes an exhaustive segmental assessment of the market based on types, and applications. On the basis of type, the market has been segmented into beverage refrigeration, display cases, ice making machineries walk in coolers, parts and others. On the basis of application, the market been segmented supermarkets, restaurants, food manufacturing industries, grocery stores, hypermarket and others. 

Global commercial refrigeration equipment manufacturers: Regional Analysis

The market has been covered across regions such as Europe, Americas, the Middle East & Africa (MEA) and Asia Pacific (APAC).  North America and South America collectively account for a significant share of the global commercial refrigeration equipment manufacturers. The existence of a massive retain sector makes the region an attractive business destination for market players. Factors such as growing fast-food culture and wide-spread popularity of on-the-go meals are partly responsible for the exponential growth of the commercial refrigeration equipment manufacturers in North America. Europe currently holds the second spot in the global commercial refrigeration equipment manufacturers. The region is home to a vast hospitality industry, which favors the growth of the market in the region. At the same time, the vast retail sector of Europe also creates opportunities for the commercial refrigeration market. APAC is also emerging as an important market for commercial refrigeration equipment. Economic boom in countries such as China and India is paving the way for the market region. During the forecast period, the region’s market is likely to witness a strong CAGR.

Global commercial refrigeration equipment manufacturers: Competitive Landscape

Some of the leading market players mentioned in MRFR’s report include Ali Group S.P.A (Italy), Johnson Controls (US), Hussmann Corporation (US), Daikin Industries Ltd (Japan), AB Electrolux (Sweden), Frigoglass (Greece)¸ AHT Cooling Systems GMBH (Austria), Illinois Tool Works Inc (US), United Technologies Corporation (US), and Dover Corporation (US).

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