Commercial Refrigeration Equipment Market is expected to grow up to USD 45.45 Billion By 2023
[159 Pages Report] The Global Commercial Refrigeration Equipment Market was valued at USD 31.50 billion in 2017 and is projected to reach USD 45.45 billion by 2023, at a CAGR of 6.2%, during the forecast period.
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The commercial refrigeration equipment market has a diversified ecosystem of upstream players, including raw material suppliers, along with downstream stakeholders, vendors, and government organizations. Companies operating in the commercial refrigeration equipment market include Baltimore Aircoil Company, Inc. (US), Daikin Industries, Ltd. (Japan), GEA Group AG (Germany), Emerson Climate Technologies (US), among others.
The hotels and restaurants segment of the commercial refrigeration equipment market, based on application industry, is projected to lead the market during the forecast period. The commercial refrigeration equipment is widely utilized in the hotels & restaurants industry. All types of commercial refrigeration equipment/products, namely, refrigerator, freezer, display cases, vending machines, and ice cream merchandiser are consumed in hotels and restaurants.
The commercial refrigeration equipment for refrigerated transport, based on product type, is one of the essential links in the cold chain system for the distribution of food commodities, such as bakery & confectionery products, dairy products, beverages, fresh fruits & vegetables, ice creams, frozen dairy products, processed meat, and fish & seafood products.
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