Commercial Refrigeration Equipment Market, by Material Type (Copper, Low Carbon), End-Use (Residential, Commercial, Industrial), Implementation (New Construction, Retrofit) and Geography (North America, Europe, Asia-Pacific, Middle East and Africa and South America)
The global commercial refrigeration equipment market size was valued at USD 33.53 billion in 2020. It is expected to expand at a compound annual growth rate (CAGR) of 4.2% from 2021 to 2028.
Refrigeration system consists of several equipment’s like compressor, condenser, evaporator, expansion devices etc. A refrigerant compressor is a machine used to compress the refrigerant from the evaporator and to raise its pressure so that the corresponding temperature is higher than that of the cooling medium.
The rapid expansion of the tourism and hospitality sector and the growing preference of end-customers to takeaway meals are some of the factors that have supported long-term expansion for Commercial Refrigeration Equipment Market.
COVID-19 had a significant economic impact on various financial as well as industrial sectors, such as travel & tourism, manufacturing, construction, and aviation. The end-use sectors of commercial refrigeration equipment, such as hotels & restaurants, supermarkets & hypermarkets, convenience store, and bakeries have been impacted. Hotels & restaurants and bakeries was one of the severely impacted sectors due to strict lockdowns and curfew in most countries to prevent the spread of coronavirus.
The Asia Pacific is expected to be the largest market of commercial refrigeration equipment during the forecast period. The increasing population in the region, improving economic conditions, such as rising GDP & disposable incomes, and a booming consumer appliances sector have led to growth in the commercial refrigeration equipment in the region.
Insights are provided for each region and major countries within the regions
Report Feature |
Descriptions |
---|---|
Growth Rate |
CAGR of 4.2% during the forecasting period, 2021-2028 |
Historical Data |
2018-2019 |
Forecast Years |
2021-2028 |
Base Year |
2020 |
Units Considered |
Revenue in USD billion and CAGR from 2021 to 2028 |
Report Segmentation |
product, system type, capacity, application and region. |
Report Attribute |
Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling |
Regional Level Scope |
North America, Europe, Asia-Pacific, South America, and Middle East and Africa |
Country Level Scope |
U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe) |
Companies Profiled |
Dover Corporation; DAIKIN Industries, Ltd.; Carrier; AB Electrolux; Ali S.p.A. |
Available Customization |
In addition to the market data for Commercial Refrigeration Equipment Market, Delvens offers client-centric report and customized according to the company’s specific demand and requirement. |
Commercial Refrigeration Equipment Market is segmented into product, system type, capacity, application and region.