According to the [190+ Pages] research report; the global v in 2018 was approximately USD 520 Million. The market is expected to grow at a CAGR of 1.1 % and is anticipated to reach around USD 563 Million by 2025. Top market players are Albemarle, Almatis, CHALCO Shandong Advanced Material, Huber, KCC, Shandong Aluminum, Showa Denko and others.
New York, NY, Feb. 01, 2021 (GLOBE NEWSWIRE) — Facts and Factors have published a new research report titled “Commercial Cold Equipment Market By Product Type (Refrigerator & Freezer, Transportation Refrigeration, Refrigerated Display Cases, Beverage Refrigeration, Ice Cream Merchandiser and Refrigerated Vending Machine), By Refrigerant (Fluorocarbons, Hydrocarbons, and Inorganics) and By Application (Hotels & Restaurants, Supermarkets & Hypermarkets, Convenience Stores and Bakery): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” .
“According to the research study, the global Commercial Cold Equipment Market was estimated at USD 520 Million in 2018 and is expected to reach USD 563 Million by 2025. The global Commercial Cold Equipment Market is expected to grow at a compound annual growth rate (CAGR) of 1.1 % from 2019 to 2025”.
Commercial cold equipment is a refrigerating unit used for cold storage in commercial applications such as hotels and restaurants, supermarkets, hypermarkets, convenience stores, and bakery. This equipment performs the essential function of the preservation of food for a longer period. These units are designed for the storage of food such as meat, oceanic food, vegetables, dairy food, and bakery products.
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Key Questions Answered in this Report
1) What was the impact of COVID-19 on the Commercial Cold Equipment Market?
2) What is the market size, share of the Commercial Cold Equipment Market?
3) Who are the top market players in Commercial Cold Equipment Market?
4) What will be the future market of the Commercial Cold Equipment Market?
- Market Size & Forecast by Revenue | 2020−2027
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by product, by types, end-user, applications, segments, and geography
- Competitive Landscape – Top key vendors and other prominent vendors
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Eco-friendly refrigeration systems are gaining increased importance in wake of the depleting ozone layer as a result of harmful emissions from the refrigeration system. With stringent regulations, manufacturers are developing refrigeration systems designed for low energy consumption, optimal refrigeration, and the use of natural refrigerants. Additionally, the increase in demand for packaged food and beverages has increased the deployment of refrigeration units in supermarkets and food retailers.
Top Market Players
Major players operating in the commercial cold equipment market mentioned in the report include Carrier Commercial Refrigeration Inc, Dover Corp., Daikin Industries, Ltd., Emerson Electric Company, Johnson Control Inc., Haier Group Corp, and GEA Group AG.
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The number of consumers dining out is increasing across the globe is driving the growth of the hospitality sector which is further propelling the commercial cold equipment market.
In the application segment, the hotels and restaurants segment is expected to hold the largest share of the commercial refrigeration equipment market. The rising global tourism and an increasing number of consumers opting for dining out have led to the growth of the hospitality industry which in turn has led to greater deployment of commercial cold equipment.
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In the refrigerant segment, fluorocarbon is expected to hold the largest share in the refrigerant type segment of the commercial cold equipment market for the year 2019. The larger market share of fluorocarbon is owing to the higher number of refrigerating units in the commercial segment that are still using fluorocarbons are refrigerant. Additionally, the refrigeration systems using fluorocarbon as a refrigerant are been refined for delivering better energy efficiency with reduced refrigerant charges and lower emissions which is contributing to the growth of the fluorocarbons segment in the commercial cold equipment market.
Stringent regulation in wake of the depleting ozone layer has led to the adoption of new eco-friendly refrigeration technology wherein old systems are been phased out. Additionally, the rise in demand for packaged food and beverages has led to the expansion of food retailers and supermarkets which in turn have led to significant growth of the commercial cold equipment market. Changing the lifestyle of consumers wherein the preference for dining out across the globe is likely to drive the hospitality sector thereby propelling the commercial cold equipment market further.
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The western region is witnessing a change of pattern of food consumption wherein seafood consumption has increased considerably as against the meat. With this changing pattern, the global food industry is focusing on seafood exports which creates growth opportunities for the commercial refrigeration system manufacturers to handle extra seafood. Innovation in magnetic refrigeration systems and other evolving technologies are expected to positively impact market growth.
The commercial cold equipment market research report delivers an acute valuation and taxonomy of the commercial cold equipment industry by practically splitting the market on the basis of different product types, refrigerants, applications, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026.
The Asia Pacific is expected to exhibit the highest growth rate among the regions in the global commercial cold equipment in the forecast period. The rising population, rising GDP & disposable incomes has augmented the growth of the hospitality sector which in turn is expected to drive the commercial cold equipment market in the Asia Pacific region.
Browse the full “Commercial Cold Equipment Market By Product Type (Refrigerator & Freezer, Transportation Refrigeration, Refrigerated Display Cases, Beverage Refrigeration, Ice Cream Merchandiser and Refrigerated Vending Machine), By Refrigerant (Fluorocarbons, Hydrocarbons, and Inorganics) and By Application (Hotels & Restaurants, Supermarkets & Hypermarkets, Convenience Stores and Bakery): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026″ report at https://www.fnfresearch.com/commercial-cold-equipment-market-by-product-type-refrigerator-639
This report segments the commercial cold equipment market as follows:
Global Commercial Cold Equipment Market: By Product Type Segmentation Analysis
- Refrigerator & Freezer
- Transportation Refrigeration
- Refrigerated Display Cases
- Beverage Refrigeration
- Ice Cream Merchandiser
- Refrigerated Vending Machine
Global Commercial Cold Equipment Market: By Refrigerant Type Segmentation Analysis
Global Commercial Cold Equipment Market: By Application Segmentation Analysis
- Hotels & Restaurants
- Supermarkets & Hypermarkets
- Convenience Stores
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