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Commercial Refrigeration Equipment Market Revenue Sales to Reach USD 48.61 Billion by 2025




 

The global?commercial refrigeration equipment market?size is projected to reach USD 48.61billion by 2025, growing at a CAGR of 5.4% over the forecast period, according to a new report by Grand View Research, Inc. Advancements in refrigeration technologies along with the changing food habits are expected to impel the market growth over the forecast period. The refrigerators & freezers is anticipated to emerge as the fastest-growing product segment with a CAGR of 6.4% from 2019 to 2025.

Innovation in magnetic refrigeration systems and other emerging technologies are also expected to have a positive impact on the market growth. Super markets are one of the most prominent retail channels for such equipment. The segment was valued at USD 2.20 billion in 2018 and is projected to maintain the dominance in future due to increasing number of supermarkets and hypermarkets in developing countries, such as China and India .Growing disposable income levels and improving standards of living in the emerging countries are also boosting the growth of super and hypermarkets.

The convenience store segment is said to register the highest CAGR of 6.1% over the forecast period. North America is a prominent region in the global market as it is the biggest manufacturer and exporter of the product. The region accounted for a market share of more than 32% in 2018. However, Asia Pacific is expected to emerge as the fastest-growing market from 2019 to 2025, owing to rise in the product manufacturing in this region.

Access Research Report of Commercial Refrigeration Equipment Market?@?https://www.grandviewresearch.com/industry-analysis/commercial-refrigeration-equipment-market

Further key findings from the study suggest:

The refrigerators &freezers segment is expected to reach USD 12.31 billion by 2025 at a CAGR of 6.4% from 2019 to 2025

Technological advancements in refrigerators are anticipated to boost their demand in the food service and production segment

F&B distribution is expected to be the fastest-growing application segment at a CAGR of 6.3% over the forecast years

Key companies in the commercial refrigeration equipment market are Dover Corp.; Daikin Industries Ltd.; Carrier Commercial Refrigeration, Inc.; Johnson Control, Inc.; and Haier Group Corp.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The?company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.





Posted by on 10. December 2019. Filed under Electronic Components, Picture Gallery. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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