Commercial refrigeration equipment Market is valued approximately at USD 32.80 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 4.2% over the forecast period 2021-2027.
Report Ocean published a new report on the globalCommercial Refrigeration Equipment Market. The study includes an in-depth analysis of regional trends and market growth in North America, Europe, Asia-Pacific, and Middle East Africa. This study report also examines the challenges that are negatively impacting the industry’s growth and outlines a strategy adopted by companies during 2017 to 2030.
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The miniaturization of electronic devices and demand for high-performance and energy-efficient products across consumer devices (smart) are some key factors driving the overall market growth. The industry heavily relies on smartphone technology and other applications related to consumer electronics, automotive technology, etc.
Commercial refrigeration equipment refers to freezers and refrigerators which are used in supermarket, convenience stores, restaurants and commercial kitchens. The global commercial refrigeration market is being driven by the consumption of less electrical energy of efficient refrigerators which not only save electricity but also produce less heat as well as the growing preferences of end consumer towards takeaway meal.
Furthermore, the increase in international food trade and rapid improvements in technologies such as ammonia absorption systems and liquid vapor energy consumption, will provide new opportunities for the global commercial refrigeration equipment industry. For instance, according to the report of Federal Energy Management Program, star certified energy commercial refrigerators consume an average of 1.89 kWh energy per day while lesser efficient refrigerators consume around 4.4 kWh energy per day.
According to the U.S. department of energy the configuration of these commercial refrigeration equipment are highly energy- efficient which may lead up to 30% energy savings. As a result, it increases awareness about their cost-effective and environment-friendly nature which encourages manufacturers to focus on innovative designs. However, the availability of various alternatives, may impede market growth over the forecast period of 2021-2027.
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The regional analysis of the global Commercial refrigeration equipment Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. Due to the factors such as well established retail industries and the presence of several leading commercial refrigeration equipment, North America is the leading region across the world in terms of market share. .Asia Pacific is also anticipated to exhibit the highest growth rate over the forecast period 2021-2027, owing to the factors such as increasing consumer preferences towards the healthy and fresh food in the region.
Major market player included in this report are:
Ali Group S.r.l. a Socio Unico
AHT Cooling Systems GmbH
Daikin Industries, Ltd.
Hillphoenix, A Dover Company
Illinois Tool Works Inc.
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and System offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By System Type:
Less than 50 cu. Ft
51 cu. Ft. to 100 cu. Ft
More than 100 cu. Ft
Food & Beverage Retail
Food & beverage production
Food & beverage distribution
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North America is leading the semiconductor and electronics market through increasing number of collaboration and effective government policies. Semiconductor companies in the United States spend about one-fifth of their total revenue on research and development – among the highest rates in any industry. Throughout difficult economic times and through fluctuations in sales revenue, the industry has consistently prioritized R&D. In order to maintain the partnership, the federal government is funding research at sustainable levels. The industry will continue to drive economic growth and develop technologies that will advance the future.
Impact Analysis of COVID-19
Semiconductor companies moved quickly to secure supply chains, protect their employees, and address other urgent concerns after the spread of COVID-19. In spite of seriousness of the situation and the fact that many governments continue to impose physical distance requirements, semiconductor companies are now forward when the pandemic subsides and a new normal begins. As a result of COVID-19, many fundamental aspects of the sector have changed, including customer behavior, business revenue, and various features of corporate operations. Thus, some companies may unable to survive the crisis.
Aim of the Report
This study aims to determine the market size of various segments and countries with forecast values for next ten years.
Within the regions and countries studied, the report covers both qualitative and quantitative aspects of the industry.
It also provides detailed information about the crucial aspects such as drivers & challenges that will influence the market’s future growth.
The report will also include investment opportunities in micro markets for stakeholders. In addition, an in-depth analysis of key players’ products and the competitive landscape.
Chapter 1.Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2027 (USD Billion)
1.2.1. Commercial Refrigeration Equipment Market , by Region, 2019-2027 (USD Billion)
1.2.2. Commercial Refrigeration Equipment Market , by System Type, 2019-2027 (USD Billion)
1.2.3. Commercial Refrigeration Equipment Market , by Capacity , 2019-2027 (USD Billion)
1.2.4. Commercial Refrigeration Equipment Market , by Application, 2019-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
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