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Commercial Refrigeration Equipment Market Worth $45.45 Billion by 2023 - Exclusive Report by MarketsandMarkets™
[October 05, 2018]

Commercial Refrigeration Equipment Market Worth $45.45 Billion by 2023 - Exclusive Report by MarketsandMarkets™


CHICAGO, October 5, 2018 /PRNewswire/ --

According to the new market research report "Commercial Refrigeration Equipment Market by Product Type, Refrigerant Type (Fluorocarbons, Hydrocarbons, Inorganics) Application (Hotels & Restaurants, Supermarkets & Hypermarkets), and Region (Europe, APAC, North America) - Global Forecast to 2023", published by MarketsandMarkets™, the global Commercial Refrigeration Equipment Market is projected to grow from USD 33.58 billion in 2018 to USD 45.45 billion by 2023, at a CAGR of 6.2% from 2018 to 2023. Improving consumer lifestyles and flourishing food and healthcare industries, growing cold chain market, and increasing use of advanced technologies, for instance, magnetic refrigeration, are opportunities for the growth of the Commercial Refrigeration Equipment Market.

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In terms of product type, the transportation refrigeration segment, is estimated to account for the largest share of the Commercial Refrigeration Equipment Market in 2018. 

In terms of product type, the transportation refrigeration segment, is estimated to account for the largest share of the Commercial Refrigeration Equipment Market in 2018. The commercial refrigeration equipment for refrigerated transport is one of the essential links in the cold chain system for the distribution of food commodities, such as bakery & confectionery products, dairy products, beverages, fresh fruits & vegetables, ice creams, frozen dairy products, processed meat, and fish & seafood products.

Browse in-depth TOC on "Commercial efrigeration Equipment Market"




99 - Tables
32 - Figures
159 - Pages

View detailed Table of Content here: https://www.marketsandmarkets.com/Market-Reports/commercial-refrigeration-equipment-market-32445265.html


The hotels & restaurants segment is estimated to be the largest segment of the Commercial Refrigeration Equipment Market, based on application, in 2018. 

In terms of application, the hotels and restaurants segment is estimated to be the largest segment of the Commercial Refrigeration Equipment Market in 2018. Various commercial refrigeration equipment (CRE) such as display cases, refrigerated vending machines, among others, are being used as selling points in hotel lobbies and act as micro markets. High consumption of FMCG products including ready-to-eat salads and sandwiches and beverages, among others, are sold using CRE products to help improve customer service and engagement.

Asia Pacific is expected to be the largest market for commercial refrigeration equipment during the forecast period. 

Asia Pacific is the largest market for commercial refrigeration equipment, globally. The region consists of key revenue generating countries, such as India and China. These countries have a large consumer base and lucrative opportunities for the chilled and frozen food products. In addition, development in the automotive industry of these countries is expected to boost the growth of the refrigerated transport market in the region.

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Key players in the Commercial Refrigeration Equipment Market include Carrier Corporation (US), Emerson Electric Company (US), Daikin Industries, Ltd. (Japan), and GEA Group AG (Germany).

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About MarketsandMarkets™  

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Research Insight: https://www.marketsandmarkets.com/ResearchInsight/commercial-refrigeration-equipment-market.asp

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SOURCE MarketsandMarkets


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