Commercial Refrigeration Equipment Market To Grow Splendidly, With Returns Of Around USD 61.44 Billion By 2021

The global commercial refrigeration equipment market is exhibiting a ferociously competitive business platform owing to the existence of a large number of contenders. In a new research report published by Zion Market Research (ZMR), analysts referred some of the leading market competitors across the globe including Illinois Tool Works Inc., Dover Corporation, AB Electrolux, United Technologies Corporation, Whirlpool Corporation, and Hussmann Corporation. These market contenders are strictly devoted to the innovation and implementation of modern technologies in their traditional products. Analytical study reveals that over the next several years, the leading contenders would be adopting new strategies such as mergers, partnerships, and acquisitions to flourish their business throughout a stiff competition.

This review is based on a report by Zion Market Research, titled "Commercial Refrigeration Equipment Market (Transport Refrigeration Equipment, Refrigerators and Freezers, Beverage Refrigerators, Parts and Others) Market for Food Service, Food and Beverage Production, Food and Beverage Distribution, Food and Beverage Retail, and Other Applications: Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021"- Report at https://www.zionmarketresearch.com/report/commercial-refrigeration-equipment-market

Strong momentum was witnessed in the global commercial refrigeration equipment market in August 2018, when a commercial kitchen equipment-manufacturing firm, Unified Brands, relocated its business operations from Byram to Vicksburg. Besides relocation, the company also created 250 new vacancies. The company invested around USD 9.5 Million to set up its business at Vicksburg.

As per ZMR analysts, the capitalization of the global commercial refrigeration equipment market in 2015 was USD 36.63 Billion. Based on the analytical data, clear and remarkable business expansion is anticipated between 2015 and 2021. The estimated revenue to be generated in the commercial refrigeration equipment market would reach USD 61.44 Billion by 2021. The commercial refrigeration equipment market includes a wide range of products including refrigerators & freezers, beverage refrigerators, and transport refrigeration equipment, among others. Among all the mentioned products, transportation refrigeration equipment remains in higher demand and is likely to follow the same trend over the coming few years.

Sudden Rise In Global Food Trading Activities Likely To Boom Market Growth

According to the study author, a significant rise in the count of established hypermarkets, supermarkets, and specialty food stores is probably responsible for triggering the commercial refrigeration equipment market growth over the upcoming years. Besides this, other factors probably boosting the product esteem among customers include development in the retail sector, change in eating patterns, and swiftly growing global food trade. The rising demand for frozen food items across the developing countries will unlock new perspectives for the market contenders to explore the unexploited section of the market.

Implementation of stringent regulations by environmentalists and lawmakers, surging fuel prices, and enormous energy consumption are likely to restrict the commercial refrigeration equipment market development over the coming several years. On the contrary, constantly increasing refrigeration units’ demands and promoting warehouse entrenchment-like activities across the world anticipate the opening of novel business channels for the established and emerging players in the market in the coming years.

Thriving Food & Established Retail Companies To Assist North America Maintain Leading Position

Market study indicates that North America has been attaining the topmost position in the global commercial refrigeration equipment market based on the regional analysis and is likely to sustain the same position for several years, states the market study.

The number of market contenders established in North America is relatively high as compared to other regions across the globe, which is also a significant driving factor supporting the commercial refrigeration equipment market development, particularly in the region.

For a comprehensive study, the analysts categorized the global commercial refrigeration equipment market as follows:

This report segments the global commercial refrigeration equipment market as follows:

Global Commercial Refrigeration Equipment Market: Product Segment Analysis

• Transport Refrigeration Equipment
• Refrigerators and Freezers
• Beverage Refrigerators
• Commercial Refrigeration Equipment Parts
• Others 

Global Commercial Refrigeration Equipment Market: Application Segment Analysis

• Food Service
• Food and Beverage Production
• Food and Beverage Distribution
• Food and Beverage Retail
• Others 

Global Commercial Refrigeration Equipment Market: Regional Segment Analysis

• North America
  • U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa

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