HVAC and Construction Industry Commercial Refrigeration Equipment Market

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Commercial Refrigeration Equipment Market Share, Size,
Analysis, Growth, Trends and Forecasts, 2016 to 2024 | Hexa
Research
" The global commercial refrigeration equipment
market value is expected to exceed USD 40.87 billion
by 2024 growing at an estimated CAGR of over 5.6%
from 2016 to 2024. "
Global Commercial Refrigeration Equipment Market is projected to grow at a CAGR of 5.6% over the forecast
period (2016 to 2024). By 2024, market revenues would exceed USD 40 billion. This may be attributed to
changing food consumption patterns triggered by rapid industrialization and technological advancements.
Escalating intake of frozen foods spurs demand for refrigeration of food on a commercial scale. Innovative
technology makes possible remote monitoring of products to check refrigerant leak, high liquid levels,
abnormal system pressures, etc. Increase in specialty food outlets, hypermarkets, and superm arkets also
contribute to a favorable market outlook. These places are equipped with advanced products like multi -deck
display cabinets and open front cases, having LEDs and proximity sensors.
The market is segmented into products, applications, and regions. Products consist of beverage refrigeration,
refrigerators & freezers, transportation refrigeration equipment, parts, and others. Beverage refrigeration
could rise due to a boom in restaurants across the globe. Transportation held about 20% of the market in 2015.
Zero-emission technologies and efficient fuel consumption are some of the trends that should propel this
segment’s growth till 2024.
Browse Details of Report @ https://www.hexaresearch.com/research-report/commercial-refrigeration-
equipment-market
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