DUBLIN–(BUSINESS WIRE)–The “Global Commercial Refrigeration Equipment Market, By Type, By Refrigerant Type, By System Type, By Application & By Region- Forecast and Analysis 2022-2028” report has been added to ResearchAndMarkets.com’s providing.
The worldwide industrial refrigeration gear market was valued at USD 37.25 billion in 2021, and the market measurement is estimated to succeed in USD 58.31 billion by 2028, at a CAGR of 5.1% over the forecast interval (2022-2028).
The quick growth of the resort and vacationer industries, in addition to prospects’ elevated need for takeout meals, are anticipated to gasoline the industrial refrigeration gear market development.
Moreover, rising regulatory pressures that drive the usage of low-GWP refrigerants, in addition to continued technological enhancements, will current the industrial refrigeration gear sector with enticing development prospects.
The necessity for refrigeration of frozen objects, processed meals, and seafood has additionally grown dramatically as the worldwide meals commerce has expanded. The product’s demand is being pushed additional by fast know-how enhancements and steady technological improvements, reminiscent of liquid-vapor compression and ammonia absorption methods.
Segments lined on this report
The worldwide industrial refrigeration gear market is segmented primarily based on kind, refrigerant kind, software, and area. Based mostly on kind, the industrial refrigeration gear market is segmented into fridge and freezer, transport refrigeration, refrigerated show instances, ice machines, and others.
Based mostly on refrigerant kind, the industrial refrigeration gear market is segmented into fluorocarbons, hydrocarbons, inorganics. Based mostly on system kind, the industrial refrigeration gear market is segmented into self-contained and remotely operated.
Based mostly on software, the industrial refrigeration gear market is segmented into meals & beverage, retail shops, motels & eating places, chemical substances & prescription drugs, and others. Based mostly on area, the industrial refrigeration gear market is categorized into North America, Europe, Asia-Pacific, and MEA.
Driver
The meals and beverage enterprise contributes essentially the most yearly earnings for world GDP, rating among the many high industries in all areas. The business serves shoppers by reworking uncooked agricultural commodities produced by its over 2 million farms into client meals objects via over 680,000 retail outlets and meals service shops. This boosts output and consumption charges, in addition to world gross sales of business refrigeration gear.
Restraint
The excessive value of buying the gear is anticipated to hinder the industrial refrigerant gear business’s growth. Business fridges, freezers, and different home equipment are priced in a different way relying on measurement since they’re designed to suit into huge areas and are utilised in industrial purposes. Because of this, the expense of acquiring and sustaining such huge gear turns into an obstacle.
Market Development
Within the meals logistics sector, chilly storage warehouses present quite a lot of companies reminiscent of year-round availability of perishable and seasonal items, export-import logistic services alongside worldwide transportation routes, and assembly important websites for retail distributions. Refrigeration warehouse companies are more and more turning into a world development throughout a variety of companies. As a consequence, there will probably be an growing variety of worthwhile alternatives for industrial refrigeration gear market development.
Firms Talked about
- Emerson Electrical Co. (US)
- Provider Company (US)
- Danfoss (Denmark)
- GEA Group Aktiengesellschaft (Germany)
- DAIKIN EUROPE GROUP (Belgium)
- Johnson Controls (Eire)
- Nor-Lake, Inc. (US)
- The Middleby Company (US)
- Imbera (Mexico)
- Welbilt (US)
- AB Electrolux (Sweden)
- Ali Group S.r.l. (Italy)
- AHT Cooling Methods GmbH (Austria)
- Hillphoenix, A Dover Firm (US)
- Excellence Industries (US)
- Illinois Instrument Works Inc. (US)
- Lennox Worldwide Inc. (US)
For extra details about this report go to https://www.researchandmarkets.com/r/ghhh2g
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