Commercial Refrigeration Equipment Market share by applications and regions for 2018- 2024

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Commercial Refrigeration Equipment Market growth
outlook with industry review and forecasts
2018-2024 Global Market Insights, Inc.
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• Global Market Scenario of Hvac Industry

• The Commercial Refrigeration Equipment Market in
  retail applications will grow to over 4 million
  units by 2024 due to the increasing adoption of
  beverage refrigerators and display cases in
  supermarkets, grocery stores, and bakery stores.
• With the increasing penetration of supermarket
  chains across the globe, the popularity of
  centralized and multiplex refrigerators is
  increasing rapidly.
• Governing bodies, such as the Environmental
  Protection Agency, are offering incentives to
  develop technologically-advanced products to
  improve the energy efficiency.
• Commercial Refrigeration Equipment Market size is
  set to exceed USD 35 billion by 2024 according
  to a new research report by Global Market
  Insights, Inc. The shipments are predicted to
  grow at around 1.5 CAGR from 2018 to 2024.

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Continue-

• Growing consumption of meat and meat products is
  expected to propel the commercial refrigeration
  equipment market growth over the forecast
  timespan. According to the World Health
  Organization, the annual meat production is
  expected to increase to 376 million tons by 2030.
  
• Rising food prices are propelling the consumers
  to opt for cheaper options such as frozen meat.
  The poultry production export from Latin
  America is increasing rapidly, driving the
  commercial refrigeration equipment market growth.
• Urbanization is one of the key factors in the
  growth of the commercial refrigeration equipment
  market. Urbanization and increasing disposable
  income of the consumers are encouraging them to
  switch to healthier diets, thus compelling them
  to consume more frozen fruits vegetables. Also,
  urbanization has improved the infrastructure,
  such as cold storages, aiding the trade of
  perishable foods.

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• Regional Analysis

• The Europe commercial refrigeration equipment
  market is characterized by the increasing trade
  of perishable products such as milk milk
  products, fruits, and flowers. According to the
  International Flower Trade Association, the
  export of cut flowers from Europe, particularly
  from France and the Netherlands, is increasing
  rapidly, propelling the demand for the
  transportation refrigeration equipment in the
  region.

• Competitive Analysis

• Key players in the industry include Dover
  Corporation, Daikin Industries, Carrier
  Corporation, Whirlpool Corporation, Electrolux,
  EdgeStar, and Haier Corporation. The industry is
  characterized by the intense competition among
  the players and the vendors are increasingly
  investing in developing energy-efficient and
  environmentally-friendly products. The
  supermarkets and retail chains are increasingly
  adopting the equipment certified by ENERGY STAR
  that offers approximately 40 energy savings.
  This is encouraging the manufacturers to
  developed energy star certified products.

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