Pune, India -- (SBWIRE) -- 04/03/2019 -- Our latest research report entitled Commercial Refrigeration Market (by Application (food & beverage industry, distribution, retail), Product Type (beverage refrigerators, chillers, display cases, freezers& refrigerators, ice-making machinery, transportation refrigeration system, parts)) Global Industry Analysis, Market Size, Trends, and Forecast to 2023 provides complete and deep insights into the market dynamics and growth of commercial refrigeration. Latest information on market risks, industry chain structure commercial refrigeration cost structure and opportunities are offered in this report. The past, present and forecast market information will lead to investment feasibility by studying the essential commercial refrigeration growth factors.

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The forecast commercial refrigeration market information is based on the present market situation, growth opportunities, development factors, and opinion of the industry experts. An in-depth analysis of the company profiles, commercial refrigeration on global and regional level and applications is conducted. The analysis of downstream buyers, sales channel, raw materials, and industry verticals is offered in this report. The global commercial refrigeration market size is expected to exceed USD x.xx billion by 2023, growing at a CAGR between 5% and 6% over the period of 2017 – 2023.

Commercial Refrigeration Market: Industry Insights

Commercial refrigeration is an important segment in cold food chains that includes equipment's such as vending machines, and display cabinets. Vending machines are common in most buildings that are open to the public while display cabinet used for frozen food that is available in any supermarket or store. Large commercial refrigerators that are used in supermarkets, consume as much as 17,000 kilowatt-hours of power per year while large commercial freezer consumes even more up to 38,000 kilowatt-hours of power a year.

Commercial Refrigeration Market: Drivers and Restraints

The growth of cold food chains coupled with growth in the retail sector. That drives the growth of food and beverages that in turn boosts the growth of the commercial refrigeration market. Growing demand for packaged foods and beverages and a rising number of female professionals as well as consumers changing lifestyle fuels the growth of the commercial refrigeration market. Furthermore, the increasing need for preservation during the distribution and transportation of food and beverages contribute to driving the demand for the commercial refrigeration market.

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Commercial Refrigeration Market: Segmentation

The global commercial refrigeration market is categorized into application, and product type. The global commercial refrigeration market by application is segmented into the food & beverage industry, food & beverage distribution, food service, retail industry, and some others. The food service segment accounts for a significant share in the global commercial refrigeration market. Among these applications, demand for commercial refrigeration is driven by growth in the foodservice and food retail sectors. On the basis of product type, the commercial refrigeration market is divided into beverage refrigerators, chillers, display cases, freezers and refrigerators, ice-making machinery, transportation refrigeration system, walk-in coolers, parts, and some others. Among these product type, the transportation refrigeration system is the leading segment owing to rapid growth in the food and beverage industry.

Commercial Refrigeration Market: Regional Insights

Among the geographies, North America is the largest region for commercial refrigeration market followed by Asia Pacific region. The Asia Pacific is the fastest growing region for commercial refrigeration market. Rising population and developing the food and beverage industry in China contribute to the growth of the commercial refrigeration market in the region. China is one of the largest consumers for alcoholic beverages that in turn fuel the growth of the commercial refrigeration market in the region.

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Commercial Refrigeration Market: Competitive Analysis

The prominent players in the global commercial refrigeration market are AB Electrolux, AHT Cooling Systems GmbH, Carrier, Daikin Industries Ltd, Danfoss A/S, Dover Corporation, Haier, Hussmann Corporation, Illinois Tool Works Inc, Ingersoll Rand Plc, Johnson Controls Inc, Panasonic Corporation, and Whirlpool Corporation.

NEWS:

In February 2019, Japanese multinational air-conditioning giant Daikin has completed its acquisition of Austrian commercial refrigeration firm AHT Cooling Systems. The acquisition price of the company was 579 million euros.