Commercial Refrigeration Equipment Market 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retailers to replace their outdated refrigeration equipment with energy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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