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Global Commercial Refrigeration Equipment Market to 2026, By Product Type, Refrigerant Type (Fluorocarbons, Hydrocarbons, Inorganics) and Application

·3-min read

Dublin, Nov. 19, 2021 (GLOBE NEWSWIRE) -- The "Commercial Refrigeration Equipment Market Report 2021-2026" report has been added to ResearchAndMarkets.com's offering.

The global commercial refrigeration equipment market is estimated to be USD 32.0 billion in 2021 and is projected to reach USD 43.3 billion by 2026, at a CAGR of 6.2%, from 2021 to 2026.

The growth of the market can be attributed to the improving consumer lifestyles and flourishing food and healthcare industries, growing cold chain market, and increasing use of advanced technologies, for instance, magnetic refrigeration. Stringent regulations for the use of fluorocarbon refrigerants is a restraint in the market.

The supermarkets & hypermarkets segment is expected to be the fastest-growing application segment of the commercial refrigeration equipment market during the forecast period

The supermarkets & hypermarkets application segment is projected to be the fastest-growing segment of the commercial refrigeration equipment market from 2021 to 2026. Supermarkets and hypermarkets cannot survive without the commercial refrigeration equipment. It is a necessity of new generation grocery stores to constantly look for and adopt advanced and more efficient commercial refrigeration equipment systems.

The refrigerated display cases segment is expected to be the fastest-growing product type segment of the commercial refrigeration equipment market during the forecast period

The refrigerated display cases application segment is projected to be the fastest-growing end-use industry of the commercial refrigeration equipment market from 2021 to 2026. Refrigerated display cases are commercial refrigeration equipment used for storing food & beverages at retail outlets, such as bakeries, dairy stores, grocery stores, wine shops, convenience stores, supermarkets, and food service providers, such as hotels, restaurants, and bars.

Asia Pacific is estimated to account for the largest market share of the commercial refrigeration equipment market in 2021.

The growth of the commercial refrigeration equipment market in the Asia Pacific region is fueled by growth in the manufacturing sector; increase in spending on private & public infrastructure development; and rapid urbanization.

Premium Insights

  • Increasing Use of Commercial Refrigeration in Supermarkets & Hypermarkets Segment Expected to Drive Commercial Refrigeration Equipment Market from 2021 to 2026

  • The Commercial Refrigeration Equipment Market in South America to Grow at the Highest CAGR During the Forecast Period

  • Transportation Refrigeration Product Type Accounts for the Largest Share

  • Supermarkets & Hypermarkets Segment to Lead the Commercial Refrigeration Equipment Market During the Forecast Period

  • Hydrocarbons Segment to Grow at the Highest CAGR Between 2021 and 2026

Market Dynamics

Drivers

  • Improving Consumer Lifestyle and Flourishing Food and Healthcare Industries

  • Growing Cold Chain Market

  • Increasing Use of Advanced Technologies Such as Magnetic Refrigeration

  • Growing Demand for Frozen and Processed Food Across the World

Restraints

  • Stringent Regulations Against the Use of Fluorocarbon Refrigerants

Opportunities

  • Potential Demand for Carbon Dioxide/Ammonia (Co2/Nh3) Cascade Refrigeration Systems

  • Improvements in the Efficiency of Refrigeration Systems with the Use of Natural Refrigerants

Challenges

  • Few Purification Companies

  • Impact of COVID-19

Companies Mentioned

  • Baltimore Aircoil Company

  • Bitzer

  • Carnot Refrigeration

  • Carrier

  • Daikin

  • Danfoss

  • Emerson Electric Co

  • Evapco, Inc

  • Excellence Industries

  • Gea Group

  • Green & Cool

  • Heatcraft Worldwide Refrigeration

  • Henry Technologies

  • Hillphoenix

  • Ice Make Refrigeration Limited

  • Illinois Tool Works Inc

  • Imbera

  • Johnson Controls

  • LG Electronics

  • Mayekawa Mfg Co Ltd

  • Metalfrio

  • Minus Forty

  • Panasonic Corporation

  • Rockwell Industries Limited

  • SCM Frigo SPA

  • Western Refrigeration Private Limited

For more information about this report visit https://www.researchandmarkets.com/r/p4kkcl

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