Commercial Refrigeration Equipment Market 2019 Analysis and Opportunity Assessment to 2024

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Commercial Refrigeration Equipment Market 2019
Analysis and Opportunity Assessment to 2024

• The development of zero emission technology by
  major players in order to mitigate the
  environmental issues will ensure that commercial
  refrigeration equipment market share continues to
  soar in the years ahead. Aided by the numerous
  research and development activities by prominent
  players and the increasing demand from the food
  and beverages sector, global commercial
  refrigeration equipment market size is expected
  to cross USD 35 billion by 2024.
• One of the most pivotal drivers of this business
  space is the rapidly increasing demand for
  packaged food and beverages. Having been infused
  with the awareness of healthy eating, consumers
  have been depicting an interest to adopt healthy
  diets, thereby upscaling the demand for frozen
  foods. Apparently, the Academy of Nutrition
  Dietetics declares that frozen veggies and fruits
  encompass the ability to retain nutrients better
  than the fresh products that are consumed merely
  a few hours post packaging.

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• Commercial Refrigeration Equipment Market
  Scenario

• Commercial refrigeration equipment market has
  been expanding its horizon with the surging
  global demand for safer and sustainable food
  preservation techniques. Along with the provision
  of cooling at diverse storage conditions,
  equipment manufacturers are also focusing on
  minimizing the harmful environment impact of the
  refrigerants. Mandatory rollouts, especially
  across developed nations, for banning
  fluorocarbon based refrigeration that in turn
  leads to ozone depletion, are expected to further
  augment the revenue graph of commercial
  refrigeration equipment market in the years
  ahead.
• Another pivotal driving force for the U.S.
  commercial refrigeration equipment market is the
  presence of a stringent regulatory framework in
  the region that has mandated several norms with
  regards to the use of harmful refrigerants
  resulting in global warming. Say for example,
  magnetic systems integrated with green technology
  have become rather popular in the U.S., owing to
  that fact that they possess high energy
  efficiency and require low maintenance. As per
  the U.S. Department of Energy, these systems are
  designed to provide about 30 energy savings. The
  eventually lowered GHG emissions and reduced
  operations costs would further augment the
  deployment of this technology, thereby propelling
  U.S. commercial refrigeration equipment market
  share.

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• Regional Analysis

• The U.S. has been forecast to be a rather
  lucrative growth hub for this vertical, the
  reason of which can be aptly attributed to the
  expanding food and beverage sector in the region.
  The country is remnant of upgraded production
  services such as microprocessor-based controller,
  improvised materials, and smart defrost systems.
  In addition, the efforts of regional players to
  reduce labor costs by transiting the production
  facilities overseas will also complement the
  market outlook.

• Competitive Analysis

• Key players in the industry include Dover
  Corporation, Daikin Industries, Carrier
  Corporation, Whirlpool Corporation, Electrolux,
  EdgeStar, and Haier Corporation.

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