Commercial Refrigeration Equipment Market Growth, Scope And Outlook Report To 2023 – 2032

The Commercial Refrigeration Equipment Global Market Report 2023 by The Business Research Company, provides commercial refrigeration equipment market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Commercial Refrigeration Equipment Global Market Report 2023, the market size will grow from $59.18 billion in 2022 to $62.11 billion in 2023 at a compound annual growth rate (CAGR) of 4.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global commercial refrigeration equipment is expected to grow to $73.95 billion in 2027 at a CAGR of 4.5%.

The increasing demand for frozen & chilled products from consumers is anticipated to drive the commercial refrigeration market. Preference for frozen & chilled products have increased due to changing lifestyle, accelerated urbanization, and benefits offered by frozen products such as longer shelf life, convenience, reduced food preparation & clean-up time.

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The commercial refrigeration equipment market is segmented:

1) By Product Type: Refrigerator & Freezer, Transportation Refrigeration, Refrigerated Display Cases, Beverage Refrigeration, Ice Cream Merchandiser, Refrigerated Vending Machine

2) By Refrigerant Type: Fluorocarbons, Hydrocarbons, Inorganics

3) By Application: Hotels & Restaurants, Supermarkets & Hypermarkets, Convenience Stores, Bakery

Companies are concentrating on incorporating the latest technologies such as artificial intelligence, 5G, and machine learning into commercial refrigeration equipment for decreasing electrical consumption, improved preventive maintenance, and better customer experience. For instance, in August 2020, Axiom Cloud and Turn tide Technologies collaborated to stimulate AI technology in Commercial refrigeration. Axiom will license divisions of its IoT infrastructure to Turn tide to support Turn tide’s mission to reduce the 25% of global electricity consumption that is misused by legacy motors.

The commercial refrigeration equipment market report table of contents includes:

1. Executive Summary

2. Commercial Refrigeration Equipment Market Characteristics

3. Commercial Refrigeration Equipment Market Trends And Strategies

4. Commercial Refrigeration Equipment Market – Macro Economic Scenario

5. Commercial Refrigeration Equipment Market Size And Growth

…

27. Commercial Refrigeration Equipment Market Competitive Landscape And Company Profiles

 

28. Key Mergers And Acquisitions In The Commercial Refrigeration Equipment Market

29. Commercial Refrigeration Equipment Market Future Outlook and Potential Analysis

30. Appendix

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