With the increasing demand for long-lasting fresh foodstuff, there is no looking back in the commercial refrigeration equipment market. Coming to the ongoing trends, Carrier Corporation is going by an agreement signed with METRO AG for offering natural refrigerant CO2 commercial systems to the major stores located all across Europe. The latter’s F-gas Exit Program (FEP) is incorporated for remodeling the European stores. Persistence Market Research has walked through these facts with insights in its latest market study entitled “Commercial Refrigeration Equipment Market”.
Commercial Refrigeration Equipment Market Dispersion
The global commercial refrigeration equipment market, by type, spans refrigerator & freezer, transport refrigeration, refrigerated display cases, ice machines, and likewise (like vending machines). Application-wise, it’s retail stores, food & beverages, hotels & restaurants, chemicals & pharmaceuticals, and others (hospitality). Persistence Market Research has enlisted these findings with subsequent steps to be taken in its latest market study entitled “Commercial Refrigeration Equipment Market”.
North America holds a significant market share due to consumers craving healthy snacks and foodstuff. This, in turn, compels the leading hotels and restaurants to increasingly deploy commercial refrigeration equipment, to ensure freshness and safety on their part. This is evident from the data released by the National Restaurant Association – that the sales from restaurants crossed US$ 800 Bn in the year 2019 alone.
Europe also holds a major chunk of the market share due to the growing hospitality industry in Germany. The U.K., and France. The Asia-Pacific and MEA are the other contributors to the commercial refrigeration equipment market.
This could be credited to ample opportunities in the hospitality industry created by India and China. Also, rapid urbanization catalyzes the market over here. According to a study by COOP and BIOFACH, The Asia-Pacific has witnessed a sizable revenue generation in the organic sector. Also, growth in the travel & tourism sector in MEA is propagating the commercial refrigeration equipment market over here. Persistence Market Research has glanced through these facts with probable calls to action in its latest market study entitled “Commercial Refrigeration Equipment market”.
Persistence Market Research has profiled the key participants in commercial refrigeration equipment as Standex International Corporation, Lennox International Inc., Daikin Industries, Ltd., Illinois Tool Works Inc., AHT Cooling Systems GmbH Whirlpool Corporation, United Technologies Corporation, Manitowoc Company, Inc., Panasonic Corporation, Qingdao Haier Co. Ltd., Fujimak Corporation, Hoshizaki Corporation, Electrolux AB, Dover Corporation, Ingersoll-Rand Plc, and Others.
Persistence Market Research has gone ahead with listing out the major developments on this count. For instance – Carrier Corporation, in June 2021, did deliver 16 new-fangled trucks and cans abreast with Transicold refrigeration systems to Euro Foods. BITZER, in July 2021, did launch gas coolers for CO2 applications in commercial industrial refrigeration.
The coolers are resistant to pressure as well as temperature. Danfoss, in December 2020, did launch Optima cold room controller’s upgraded version. It does help in the protection of equipment, maintenance of safe temperatures, and reduction in utilization of energy. 5 months later, the same Danfoss put forth multi-refrigerant, A2L-ready condensing units to enable ultra-low GWP installations.
The Road Ahead
The global commercial refrigeration equipment market is poised to grow on a superlative note in the next 10 years – Persistence Market Research