Commercial Refrigeration Market to Witness a Surge in Revenue of US$ 50.3 Billion By 2031 | Astute Analytica

CHICAGO, UNITED STATES, September 6, 2023/EINPresswire.com/ -- Global 𝐂𝐨𝐦𝐦𝐞𝐫𝐜𝐢𝐚𝐥 𝐑𝐞𝐟𝐫𝐢𝐠𝐞𝐫𝐚𝐭𝐢𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭 revenue was 𝐔𝐒$ 𝟑𝟏.𝟕 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝟐𝟎𝟐𝟐 and is projected to surpass a valuation of 𝐔𝐒$ 𝟓𝟎.𝟑 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟑𝟏, growing at a 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟓.𝟐𝟕% during the forecast period from 2023 to 2031.𝟐𝟎𝟐𝟑 𝐭𝐨 𝟐𝟎𝟑𝟏.

𝐒𝐚𝐦𝐩𝐥𝐞 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/request-sample/commercial-refrigeration-market

Due to rising urbanization and an increase in the number of supermarkets and hypermarkets, the demand for the global commercial refrigeration market is increasing, creating attractive prospects for industry players. The hypermarkets and supermarkets in the food retail application area would continue to hold the top spot and offer significant growth potential. Additionally, the market's forecast seems positive as a result of the expansion of trade and investment in developing regions.

There is an increasing reliance on processed and frozen foods as a result of the rise in urbanization and the spread of fast-paced lifestyles. According to the study of Astute Analytica, the size of the global frozen food market is anticipated to reach US$ 504.41 billion by 2030. The global commerce in frozen fruits and vegetables has increased by an average of 3.5% per year, reaching a value of US$ 265.13 billion in 2022, according to the Food and Agriculture Organization (FAO). The necessity for effective food preservation and storage has grown as the world's population is predicted to exceed 8.5 billion by 2030. The commercial refrigeration market has been steadily expanding as a result of the spike in demand.

In places including the European Union, North America, and some parts of Asia, environmental rules regarding greenhouse gas emissions have tightened as of 2022. There has been a noticeable trend away from using conventional hydrofluorocarbons (HFCs) in favor of natural refrigerants like CO2 and hydrocarbons owing to these laws and rising environmental concerns. With a global growth rate of about 9.2% annually, the shift to environmentally friendly refrigeration solutions is gathering momentum. Therefore, it is anticipated that the market for commercial refrigeration will continue to innovate as a result of the move toward environmentally friendly refrigeration technology.

𝐌𝐞𝐫𝐜𝐡𝐚𝐧𝐝𝐢𝐬𝐢𝐧𝐠 𝐑𝐞𝐟𝐫𝐢𝐠𝐞𝐫𝐚𝐭𝐨𝐫𝐬 𝐒𝐞𝐠𝐦𝐞𝐧𝐭 𝐂𝐚𝐩𝐭𝐮𝐫𝐞𝐝 𝐀𝐛𝐨𝐮𝐭 𝟐𝟑.𝟗% 𝐨𝐟 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐯𝐞𝐧𝐮𝐞 𝐒𝐡𝐚𝐫𝐞

In 2022, the merchandising refrigerators has emerged as the largest source of revenue in the market. In addition, the segment generated about 23.9% of the market revenue share.

The designs of marketing refrigerators and freezers range greatly, from straightforward, affordable machines to complex, long-lasting machinery. The many types offered by manufacturers are all created to optimize the amount of space for food storage while ensuring simple access to all contents, regardless of bulk. The most popular category of food storage equipment on the market, reach-in commercial refrigerators, are included in this segment.

𝐅𝐨𝐨𝐝 𝐒𝐞𝐫𝐯𝐢𝐜𝐞 𝐒𝐞𝐠𝐦𝐞𝐧𝐭 𝐀𝐭𝐭𝐚𝐢𝐧𝐞𝐝 𝐀𝐛𝐨𝐮𝐭 𝟑𝟎.𝟕% 𝐨𝐟 𝐑𝐞𝐯𝐞𝐧𝐮𝐞 𝐒𝐡𝐚𝐫𝐞

With over 30.7% of the global commercial refrigeration market, the food service segment holds a commanding revenue share. The widespread use of commercial refrigeration systems in a variety of food service venues, including restaurants, cafes, hotels, and catering companies, is credited with this segment's domination.

Stores like supermarkets, convenience stores, and department stores are opening up more frequently owing to the rising need for basic necessities. This is projected to have a favorable effect on the demand for products used in commercial refrigeration. The U.S. Census Bureau, a division of the U.S. Federal Statistical System of Maryland, reported that overall retail and food service sales increased by 12.9% in 2021.

𝐍𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚 𝐚𝐧𝐝 𝐄𝐮𝐫𝐨𝐩𝐞 𝐂𝐨𝐥𝐥𝐞𝐜𝐭𝐢𝐯𝐞𝐥𝐲 𝐂𝐨𝐧𝐭𝐫𝐢𝐛𝐮𝐭𝐞𝐝 𝐭𝐡𝐞 𝐇𝐢𝐠𝐡𝐞𝐬𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐯𝐞𝐧𝐮𝐞 𝐒𝐡𝐚𝐫𝐞

Commercial refrigeration systems are still heavily used in North America and Europe, which have developed markets and strong retail infrastructures. The two continents that consume the most frozen food now are North America and Europe, accounting for 65% of global consumption in 2022.

The need for commercial refrigerators in the region is increasing, which can be attributed to the increase in the number of supermarkets, hypermarkets, and convenience stores. These stores heavily rely on commercial refrigerators to keep and display a variety of goods, including frozen food, fresh vegetables, and other perishable goods.

The rising acceptance of online food shopping is another factor driving up the price of commercial freezers. Retailers need effective refrigeration solutions to maintain the freshness and safety of perishable items during shipping and storage as more customers choose the convenience of shopping online. The demand for frozen and perishable food products in this region is being driven by growing urbanization, increased disposable incomes, and shifting customer preferences, necessitating the adoption of cutting-edge commercial refrigeration systems.

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐒𝐜𝐞𝐧𝐚𝐫𝐢𝐨

In order to grow their market share and maintain their competitiveness in the market, players in the commercial refrigeration market have selected acquisition as their primary strategy. Product launches, alliances, and collaboration have also been crucial strategies for the top players in the commercial refrigeration market to increase their market share significantly across the globe.

𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐨 𝐌𝐨𝐫𝐞 𝐅𝐮𝐥𝐥 𝐃𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/industry-report/commercial-refrigeration-market

𝐓𝐨𝐩 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐚𝐫𝐞:
• AHT Cooling Systems GmbH
• Beverage-Air Corporation (Ali S.p.A)
• Daikin Industries, Ltd.
• Electrolux AB
• Haier Inc.
• Hoshizaki Corporation
• Hussmann Corporation
• Lennox International Inc.
• Panasonic Corporation
• Whirlpool Corporation
• Fujimak Corporation
• Illinois Tool Works Inc. (ITW)
• Ingersoll-Rand PLC
• Other Prominent players

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐎𝐮𝐭𝐥𝐢𝐧𝐞

𝐓𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐜𝐨𝐦𝐦𝐞𝐫𝐜𝐢𝐚𝐥 𝐫𝐞𝐟𝐫𝐢𝐠𝐞𝐫𝐚𝐭𝐢𝐨𝐧 𝐦𝐚𝐫𝐤𝐞𝐭 𝐬𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐟𝐨𝐜𝐮𝐬𝐞𝐬 𝐨𝐧 𝐏𝐫𝐨𝐝𝐮𝐜𝐭 𝐓𝐲𝐩𝐞, 𝐒𝐲𝐬𝐭𝐞𝐦 𝐓𝐲𝐩𝐞, 𝐂𝐚𝐩𝐚𝐜𝐢𝐭𝐲, 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧, 𝐚𝐧𝐝 𝐑𝐞𝐠𝐢𝐨𝐧.

𝐁𝐲 𝐏𝐫𝐨𝐝𝐮𝐜𝐭 𝐓𝐲𝐩𝐞
• Reach-In Refrigeration
• Merchandising Refrigerators
• Prep Refrigeration
• Bar Refrigeration
• Refrigerated Display Cases
• Commercial Ice Machines
• Commercial Ice Cream Freezers
• Commercial Blast Chillers
• Others
𝐁𝐲 𝐒𝐲𝐬𝐭𝐞𝐦 𝐓𝐲𝐩𝐞
• Self-contained
• Remotely Operated
𝐁𝐲 𝐂𝐚𝐩𝐚𝐜𝐢𝐭𝐲
• Less than 50 cu. Ft
• 50 to 100 cu. Ft
• More than 100 cu. Ft
𝐁𝐲 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧
• Food Service
• Food & Beverage Retail
• Food & Beverage Distribution/Transportation
• Food & Beverage Production
• Others
𝐁𝐲 𝐑𝐞𝐠𝐢𝐨𝐧
• North America
o The U.S.
o Canada
o Mexico
• Europe
• Western Europe
 The UK
 Germany
 France
 Italy
 Spain
o Rest of Western Europe
• Eastern Europe
 Poland
 Russia
o Rest of Eastern Europe
• Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o South Korea
o ASEAN
o Rest of Asia Pacific
• Middle East & Africa (MEA)
o Saudi Arabia
o South Africa
o UAE
o Rest of MEA
• South America
o Argentina
o Brazil
o Rest of South America

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/request-sample/commercial-refrigeration-market

𝐀𝐛𝐨𝐮𝐭 𝐀𝐬𝐭𝐮𝐭𝐞 𝐀𝐧𝐚𝐥𝐲𝐭𝐢𝐜𝐚:

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Aamir Beg
Astute Analytica
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