Commercial Refrigeration Equipment Market 2017 - Industry Growth, Analysis, and Forecast To 2022 – by Credence Research
According to a new market report published by Credence
Research Inc “Commercial Refrigeration Equipment Market -
Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 -
2022,” the commercial refrigeration equipment market is expected to reach
US$ 41.5 Bn by 2022, with increasing demand for frozen foods and changing food
consumption habits. The market for commercial refrigeration equipment is also
expected to increase with growing food service and cold chain industry major
countries across the world. Stringent energy consumption regulation is forcing
retailers to replace their outdated refrigeration equipment with energy
efficient solutions. This represents a significant demand for commercial
refrigeration equipment in replacement market. High initial investment cost is
the primary factor limiting the growth of these products particularly in price
sensitive markets.
Browse Full Report at http://www.credenceresearch.com/report/commercial-refrigeration-equipment-market
Commercial refrigeration equipment
are classified into reach-ins & walk-ins, display cases, beverage
refrigeration equipment, ice machines, refrigerated, vending machines,
transportation equipment, other equipment and related parts. Reach-in and walk
in systems accounted for the largest revenue share compared to other product
categories and is expected to see the promising growth through the forecast
period with growing number of hotels, restaurants, and production industry. The
transportation equipment segment is expected to see the fastest growth through
the forecast period. Beverage and vending machines are also expected to see the
promising growth with changing food consumption habits.
Food service industry is expected to
be the fastest growing application segment for commercial refrigeration
equipment with increasing number of hotels and restaurants across the world. In
addition, the considerable demand for commercial refrigeration equipment is
expected from food and beverage production industry with introduction of
stringent food production regulations.
Asia Pacific accounted for the largest
regional market compared to other regions and is expected to see the fastest
growth through the forecast period. This growth is primarily attributed to
growing demand for commercial refrigeration equipment from India and China.
North America and Europe are matured markets and majority of growth in these
markets is expected from replacement market. The U.S. represents largest
individual market in 2014. In addition, promising growth is also expected in
South America and Middle East commercial refrigeration equipment markets with
growing retail and food service industry in these regions.
The global commercial refrigeration
equipment market is concentrated with multinational as well as regional market
players. Manufacturers across the world are focusing on advanced energy
efficient solutions to meet energy consumption regulations. Some major players
in the global commercial refrigeration equipment industry include Whirlpool
Corporation, Danfoss A/S, Beverage-Air Corporation Daikin Industries, Ltd.,
United Technologies Corporation, Illinois Tool Works, Inc., Dover Corporation,
Hussmann Corporation, Haier Inc., Ingersoll Rand Plc., Metalfrio Solutions SA,
and Electrolux AB.
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