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Commercial Refrigeration Equipment Market to amass substantial returns by 2024

Author : Rahul Varpe | Published Date : 2019-08-13 

Increasing importance of cold storage for preserving consumable products has been a major factor propelling Commercial Refrigeration Equipment Market. Numerous businesses dealing with perishables comprising meat, fish, and other food items, mostly give preference for large cold rooms while beverages and cold drink businesses give preference for small size refrigerators, as is observed. Quite overtly, the subsequent use of refrigerators across several businesses for storing food products is poised to enhance commercial refrigeration equipment industry share.

The increasing adoption of refrigerators across commercial sectors has also encouraged biggies to capture quite some business share with the adoption of strategies such as new product development. In this regard, they have been focusing on quality, cost, suitability, and efficiency of the commercial use refrigerators. The incorporation of new advanced features in refrigeration equipment for gaining revenue as well as competitive benefits is slated to enhance commercial refrigeration equipment market over the years ahead.

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On-going innovations and developments in commercial refrigeration equipment market will further stimulate the product demand in the future. The strategic approach of biggies toward business expansion, by specifically focusing on the surging product demand could help them to achieve a fairly strong market position. The deployment of strict regulatory norms to promote the use of energy efficient equipment is also slated have a positive influence on market which will surpass revenue collection of USD 35 billion by the end of 2024.

Commercial Refrigeration Equipment Market, by Product:

  • Transportation refrigeration equipment
  • Refrigerators & freezers
  • Beverage refrigeration
  • Other equipment
  • Parts

Commercial Refrigeration Equipment Market, by Application:

  • Food service
  • Food & beverage retail
  • Food & beverage production
  • Food & beverage distribution
  • Others

Refrigeration systems deployed across various commercial and business sector account for more than half of the overall energy consumption. In this regard, many regional governments have also taken initiatives to promote the businesses to use energy efficient refrigeration systems that could have lower global warming potential (GWP) refrigerants. Accordingly, the use of natural refrigerants has increased tremendously which could have minimum impact on the environment. For instance, currently, in U.S., with the growing consciousness about the energy consumption and environmental impact, many supermarket owners are trying to adopt environmental stewardship practices that will further fuel commercial refrigeration equipment market.

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The growing concern among the masses about energy efficiency is remarkably encouraging the contributors in the commercial refrigeration equipment market to invest in research and development activities. In order to develop energy efficient products, the maintenance of certain design standards and quality is essential, that would eventually lead to using effective alternatives over less energy efficient equipment. In addition, the deployment of energy efficient commercial refrigeration equipment at various business centers is proving to be quite cost-efficient, owing to its capability to consume lesser energy that results in lower energy bills. The development of energy efficient product ranges will thus significantly push business trends in commercial refrigeration equipment industry.

Key players in the industry include:

  • Dover Corporation
  • Daikin Industries
  • Carrier Corporation
  • Whirlpool Corporation
  • Electrolux
  • EdgeStar
  • Haier Corporation

Related News: https://www.marketwatch.com/press-release/polymeric-sand-market-2019---2025-study-by-application-products-and-regional-players-2019-08-13

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About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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