The Latin America commercial refrigeration equipment market accounted for US$ 927.4 Mn in 2016, expanding at a CAGR of 6.50% during 2017 to 2025. The market is expected to be valued US$ 1,619.0 Mn by 2025 end.
Albany, NY -- (SBWIRE) -- 09/18/2017 -- The major growth of Latin America commercial refrigeration equipment market derives from constant advancement in technologies of refrigeration, continuously growing sector of tourism in the region and increasing need for energy efficient equipment. The refrigeration market in Latin America is highly dynamic and is characterized by rising demand for innovative product installation. "Commercial Refrigeration Equipment Market: Latin America Industry Analysis (2012-2016) and Forecast," is the new report that has been added to the database of Market Research Reports Search Engine. The Latin America commercial refrigeration equipment market accounted for US$ 927.4 Mn in 2016, expanding at a CAGR of 6.50% during 2017 to 2025. The market is expected to be valued US$ 1,619.0 Mn by 2025 end. The Latin America commercial refrigeration equipment market is fuelled by augmenting consumerism and economic growth in the years to come.
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Commercial refrigeration Equipment Market for Latin America: Segmental Analysis
The market is segmented into application type, country, refrigerant type, and product type. On the basis of product type, market is further segmented into refrigerator and freezer, beverage refrigeration, transportation refrigeration equipment, commercial refrigeration equipment parts and others. Refrigerators and freezers is the segment with higher demand from end users. This segment is expected to grab maximum market share of 37.4% and is likely to continue to lead the market in the years to come. Application segment includes food and beverage distribution, food services, food and beverage retail, food and beverage production and others. The demand for refrigeration devices is greater in food and services segment and this demand will remain same in the years to come. Refrigerant type segment is divided into fluorocarbons, hydrocarbons/Natural, inorganic.
Commercial refrigeration Equipment Market for Latin America: Country
Argentina, Chile, Brazil, Mexico and other parts of Latin America are the key countries covered in this report. With 38% revenue share, Brazil has dominated the Latin America commercial refrigeration equipment market in 2016 and it is estimated to grow throughout the projected period. As Brazil is a key exporter of soy beans, frozen but fresh chicken, fruit juices poultry meat, and oil cakes, the extravagant export of perishables from this nation has been fuelling the market. The developing interest for refrigerated and stored food products, on account of the ascent of the nation's tourism and travel business is probably going to support the Brazil business refrigeration equipment market in the upcoming years.
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Commercial refrigeration Equipment Market for Latin America: Manufacturers
Some of the important manufacturers in the market for commercial refrigeration equipment in Latin America market are Hussmann International Inc., Lennox International Inc., Metalfrio Solutions SA, Dover Corp., Illinois Tool Works Inc., Beverage-Air Corp., Daikin Industries Ltd., and United Technologies Corp.
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