Commercial Refrigeration Equipment Market Competitive Landscape By 2025
Posted by Rishikesh Kurane on March 11th, 2019
Commercial Refrigeration Equipment Market 2019, is latest research report by MarketResearchFuture, the global Commercial Refrigeration Equipment market is expected to Register High Growth Rate during 2019 To 2025. Report analyzes Commercial Refrigeration Equipment Market Key Companies with Size, Share, Trends analysis, and Key Country Forecast to 2025. Commercial Refrigeration Equipment Market Information is segmented by Type (Display Cases, Walk-in coolers, Ice-making, Beverage refrigeration, Parts & others), by Application (Food Manufacturing Industries, Hyper Market & Super Market) & by Geography (North America, Europe, Asia-Pacific & RoW) - Forecast to 2025
Global Commercial Refrigeration Equipment Market: Competitive Landscape
Some of the leading market players mentioned in MRFR’s report include Ali Group S.P.A (Italy), Johnson Controls (US), Hussmann Corporation (US), Daikin Industries Ltd (Japan), AB Electrolux (Sweden), Frigoglass (Greece)¸ AHT Cooling Systems GMBH (Austria), Illinois Tool Works Inc (US), United Technologies Corporation (US), and Dover Corporation (US)
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According the latest report published by Market Research Future (MRFR), the global commercial refrigeration equipment market is projected to exhibit a compound annual growth rate of 5.1% between 2015 and 2015. Commercial refrigeration equipment is used for heavy-duty refrigeration application and caters to large-scale retail outlets, supper markets, departmental stores, convenience store, and restaurants among others. The equipment was developed primarily for industrial and commercial purposes.
Over the years, commercial refrigeration equipment has continued to diversify. This has led to development of application-specific refrigerators such as display case, walk-in coolers, ice making machines, beverage machines etc. In terms of functionality, they offer vending machines, reach-in coolers, vending machines, liquid-chillers and cryogenic refrigeration. Rapid urbanization and industrialization has led to development of organized food retail chains, hypermarkets and supermarkets in emerging economies such as China, Brazil, Mexico and India. Further, the growth of the F&B sector in these countries is also providing an impetus to the commercial refrigeration equipment market. These countries are viewed as lucrative consumer markets that offer tremendous business opportunities.
The growth of industries such as the hospitality and the restaurant is also fuelling the demand for commercial refrigeration equipment. This can be linked with expediated tourism across the globe. The millennial population is more willing to spend on travelling and experiencing exotic food delicacies, which is creating new business opportunities for the hospitality industry.
Global Commercial Refrigeration Equipment Market: Segmental Analysis
The report includes an exhaustive segmental assessment of the market based on types, and applications. On the basis of type, the market has been segmented into beverage refrigeration, display cases, ice making machineries walk in coolers, parts and others. On the basis of application, the market been segmented supermarkets, restaurants, food manufacturing industries, grocery stores, hypermarket and others.
Global Commercial Refrigeration Equipment Market: Regional Analysis
The market has been covered across regions such as Europe, Americas, the Middle East & Africa (MEA) and Asia Pacific (APAC). North America and South America collectively account for a significant share of the global commercial refrigeration equipment market. The existence of a massive retain sector makes the region an attractive business destination for market players. Factors such as growing fast-food culture and wide-spread popularity of on-the-go meals are partly responsible for the exponential growth of the commercial refrigeration equipment market in North America. Europe currently holds the second spot in the global commercial refrigeration equipment market. The region is home to a vast hospitality industry, which favors the growth of the market in the region. At the same time, the vast retail sector of Europe also creates opportunities for the commercial refrigeration market. APAC is also emerging as an important market for commercial refrigeration equipment. Economic boom in countries such as China and India is paving the way for the market region. During the forecast period, the region’s market is likely to witness a strong CAGR.
Japanese multinational air conditioning manufacturer Daikin Industries, Ltd. has reportedly finalized the acquisition of Austria-based AHT group for 881 million euros. The acquisition will be done through its subsidiary Daikin Europe N.V., which is headquartered in Belgium. After the acquisition, Daikin will own all company shares Bridgepoint, which is based in UK and is also the private equity shareholder of AHT Group.
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About the AuthorRishikesh Kurane
Joined: May 4th, 2018
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