A historical growth rate of less than 3.9% CAGR was found in the analysis of the market demand for commercial refrigeration systems from 2017 to 2021. Growth expectations were temporarily hampered by the initial COVID-19-related recessionary downturns, which included lower sales of commercial refrigeration systems, store closings, and brief interruptions in the industrial cycle.
However, industrial production activity resumed in various countries when infection curves started to flatten beginning in 2022. The growth rate is projected to be 4.8% during the forecast period according to FMI’s global commercial refrigeration system market demand prediction.
The demand for transportation refrigeration systems is being driven by the expansion of international food trade between countries as a result of modifications in consumer food consumption patterns.
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Customisation of refrigeration system as per the customers demand is a key trend in the global commercial refrigeration systemmarket. Expanding food retail chains mostly in tier II and tier I cities in developing regions is significantly driving growth in commercial refrigeration system market.
The process of removing excess heat from space and transferring it to the environment is known as refrigeration. It is well known that lower temperatures reduce spoilage of food, beverages, and many other substances. Thus, in order to keep many types of perishable products from spoiling and fresh for a longer period of time, commercial refrigeration systems are used where the temperature is kept much lower than that of its surroundings.
The Europe commercial refrigeration system market on the other hand is estimated to show significant growth with rising demand for frozen food items and expansion of retail chain in this region. Commercial refrigeration systemmarket is witnessing increasing use of solar powered systems and this technology is anticipated to play a major role in addressing energy scarcity issues.Utilization of advanced refrigerants and energy efficient systems are some of the upcoming trends in global commercial refrigeration system market. More use of commercial refrigeration system in horticulture process and sea food exports is expected to fuel the demand of global refrigeration system market
Major players in the global commercialrefrigerationsystem market include Hussmann, Dover Corporation, Ingersoll Rand PLC, Daikin, AHT Cooling System GmbH, Traulsen, Berkshire Hathaway Inc, Johnson Controls Inc, and PanasonicCorporation. Key players have adopted strategies including joint ventures along with mergers and acquisitions to expand globally and are simultaneously improving their distribution network to establish strong market presence.
Commercial refrigeration system market is witnessing a significant uptake in commercial sector especially due to growing hotels, restaurants and organised retail showrooms.
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The research report presents a comprehensive assessment of the commercial refrigeration system market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, applications and types.
The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Value Chain
Regional analysis includes:
- North America
- Latin America
- Asia Pacific
- Japan
- Western Europe
- Eastern Europe
- Middle East & Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors, along with market attractiveness within the segments. The report also maps the qualitative impact of various market factors on market segments and various geographies.
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Key Segments Profiled in the Global Commercial Refrigeration System Market Report Global Commercial Refrigeration System Market
By Type, Global Commercial Refrigeration System Market is segmented as:
- Beverage Refrigerator
- Drinking Fountain
- Soda Fountain
- Beer Dispensing Equipment
- Beverage Coolers
- Freezers & Refrigerators
- Freezer & Chillers
- Blast Chiller/Stock Freezers
- Contact Freezers
- Refrigerators
- Walk-in-Refrigerators
- Reach-in Refrigerators
- Transportation Refrigerators
- Trailers
- Trucks
- Shipping Containers
- Glass Door Merchandizers
- Hinged Door
- Sliding Door
- Display Cases
- Ice Cream Cabinets
- Bakery/Deli Display
- Beverage Dispensers
- Refrigerated Vending Machine
- Ice Machine
- Ice Cream Machine
By Application, Global Commercial Refrigeration System Market is segmented as:
- Food Services
- Food & Beverage Retail
- Food & Beverage Production
- Food & Beverage Distribution
by Operation, Global Commercial Refrigeration System Market is segmented as:
- Plug-In
- Remote
By Region, Global Commercial Refrigeration System Market is segmented as:
- North America
- Latin America
- Europe
- East Asia
- South Asia Pacific
- Middle East & Africa
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