The global commercial refrigeration system market will increase at a 4.8% CAGR from US$ 49,915.7 Million in 2022 to 2032, according to FMI.
The commercial refrigeration system market is anticipated to reach $79,711.2 million by 2032. With increased investment in cold chain infrastructure construction in emerging economies and rising worldwide demand for frozen goods, there is a growing demand for innovative and compact refrigeration systems. These are the factors driving the commercial refrigeration system sector ahead.
Product types such as beverage refrigeration, freezers & refrigerators, and transportation refrigeration are used to segment the worldwide commercial refrigeration system market. Trailer refrigeration systems, truck refrigeration systems, and shipping container refrigeration systems are all part of the transportation refrigeration system.
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With a double-digit CAGR, the global market for commercial refrigeration systems is anticipated to almost double during the forecast period. North America commands the commercial refrigeration system market in terms of revenue, followed by APAC and Europe. The growth of the food and service industries, as well as shifting consumer preferences for dining out in North America, are driving domestic growth in the market for commercial refrigeration systems.
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.
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.
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
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Key Segments Profiled in the Global Commercial Refrigeration System Market Report Global Commercial Refrigeration System Market
By Type:
- Freezers & Refrigerators
- Transportation Refrigerators
- Glass Door Merchandisers
- Display Cases
- Beverage Dispensers
By Application:
- Food Services
- Food & Beverage Retail
- Food & Beverage Production
- Food & Beverage Distribution
By Operation:
- Plug-In
- Remote
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia Pacific
- Middle East & Africa
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