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Global Commercial Refrigeration Equipment Market is Expected to Reach $40,875 Million by 2020: P&S Market ResearchNEW YORK, December 21, 2015 /PRNewswire/ -- The global market of commercial refrigeration equipment recorded $29,558.8 million value in 2014. The global market is expected to reach $40,874.9 million by 2020. During the period 2015-2020, the global market is anticipated to grow with a CAGR of 5.7%, in terms of value. The growth of the global commercial refrigeration equipment market is driven by the increasing penetration of organized food retail chains, supermarkets, hypermarkets, and others in the developing countries. As per the Institution of Mechanical Engineers, 25% of the overall food production in the developing countries of world including BRICS countries was wasted in 2014, mainly due to inappropriate refrigeration. However in Africa, about 50% of the food and vegetables were wasted due to the scarcity of commercial refrigeration equipment. (Logo: http://photos.prnewswire.com/prnh/20150727/756778 ) Explore Full Report with Detailed TOC and Scope of Report at: https://www.psmarketresearch.com/market-analysis/commercial-refrigeration-equipment-market Among the various equipment types, the beverages refrigeration segment is anticipated to witness the fastest growth with a CAGR of 7.2% during 2015 - 2020. The display cases segment, walk-in coolers segment, and beverages refrigeration segment together accounted for 60% share of the global commercial refrigeration equipment market in 2014. The upsurge in the number of organized retail chains in the developing countries is leading to increased demand of energy efficient refrigeration equipment in the recent years. With the supermarket refrigeration equipment accounting to about 60% of the overall consumption of electricity, energy saving and optimizing operating cost would remain among the top concerns for the commercial refrigeration equipment manufacturers, especially in the burgeoning market of the western countries. Apart from this, the innovative product design, use of eco-friendly refrigerant and enhancement in otal energy consumption has led to the availability of innovative and advanced commercial refrigeration products, such as open-front refrigeration cases, and multi-deck display cabinets during the recent years. The growth of the commercial refrigeration equipment market in North America is highly anticipated from the aftermarket of commercial refrigeration, which includes the replacement and repair of refrigeration equipment in use. Also, the average floor space of the major grocery and food retailers of North America has increased in the recent years, which is again encouraging the installation of latest refrigeration equipment in these stores, thus fuelling the growth of the market in the region. The European market of commercial refrigeration equipment is advancing towards maturity; while the Asia-Pacific market is expected to witness growth, especially from the emerging countries. During 2015-2020, the Asia-Pacific market is anticipated to account for the fastest growth with a CAGR of 9.7%. Ask for Sample Report: https://www.psmarketresearch.com/market-analysis/commercial-refrigeration-equipment-market/report-sample The global market of commercial refrigeration equipment appears fragmented, with the top four companies having contributed to less than 40% share of the overall market in 2014. United Technologies Corporation (Carrier) accounted for the largest market share, owing to brand image, superior power efficiency, and diversified post-sale servicers of the company. Some of the other major participants in the global commercial refrigeration equipment market include AB Electrolux, Frigoglass S.A.I.C., Dover Corporation, Daikin Industries Ltd, AHT Cooling Systems GmbH, Ali Group S.p.A., Illinois Tool Works Inc., and Johnson Controls Inc. GLOBAL COMMERCIAL REFRIGERATION EQUIPMENT MARKET SEGMENTATION By Equipment Type
GEOGRAPHICAL SEGMENTATION By Region
Explore Other Report Related to Refrigeration Industry Global Industrial Refrigeration Market- https://www.psmarketresearch.com/market-analysis/industrial-refrigeration-equipment-market Global Magnetic Refrigeration Market- https://www.psmarketresearch.com/market-analysis/magnetic-refrigeration-market About P&S Market Research P&S Market Research is a global market research and consulting company. We provide market research reports, industry reports, business intelligence and research based consulting services across a range of industries. With the help of our professional corporate relations with various companies, our market research offers the most accurate market forecasting. Our analysts and consultants interact with leading companies of the concerned domain to substantiate every single data presented in our publication. Our research assists our client in identifying new and different windows of opportunity and frame informed and customized strategies for expansion in different regions. Contact: Web: https://www.psmarketresearch.com SOURCE P&S Market Research 
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