Commercial Refrigeration Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2012 - 2018
Albany, NY -- (SBWIRE) -- 07/09/2015 -- According to a new market research report published by Transparency Market Research based on - Commercial Refrigeration Equipment Market - Global Industry Size, Market Share, Trends, Analysis and Forecast, 2012 - 2018, - the global commercial refrigeration equipment market accounted to USD 29.1 billion in 2012 and is expected to reach USD 46.6 billion in 2018, growing at a CAGR of about 8.2% from 2012 to 2018. The Asia-Pacific region is the global leader in the commercial refrigeration equipment market in terms of revenue with 34.1% market share, followed by the market in North America.
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Commercial refrigeration equipment market has a relatively limited access across the major trading nations in the world. The market growth is primarily driven by rise in international food trade, emergence of supermarkets, and sea and processed food exports in the world. Moreover, recent years have witnessed a high demand for commercial refrigeration equipment for food and beverages because there has been an increasing trend of people dining out at restaurants to savor the exotic cuisines and infusions with their meals. People have also started purchasing frozen food items and beverages at several retail chains across different countries in the world, particularly in Europe and Latin America.
It is observed that food service and food and beverage retail are emerging as one of the fastest growing applications for commercial refrigeration equipment in Europe. This study report also includes a part of the analytical insights on the 'Europe commercial refrigeration equipment market' maintaining its focus on locales such as France, Scandinavia, United Kingdom, Germany, Italy, and rest of Europe. The report gives market evaluation in terms of revenue and volume and forecast for the period 2013 to 2019.
Commercial refrigeration equipment is recognized as a product that is often used around the world for many different purposes. The commercial refrigeration equipment market is compelled by vital factors including changing food consumption trends, rise in horticulture, sea-food, and processed food exports, rising international food trade, continuous evolving technology, emergence of supermarkets and fast food chains across the globe. Nevertheless, in contrast to the value-added growth factors, some of the key restraints for the commercial refrigeration equipment market include the Montreal and Kyoto protocol, less energy-efficient commercial refrigeration equipment and increasing fuel cost.
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This research report is specifically designed to estimate, analyze, and detail out the demand and performance of the commercial refrigeration equipment market in a global scenario. The report caters us with the in-depth analysis along with the market estimates and forecasts for the period 2012 to 2018 in terms of revenues. It also categorizes the global commercial refrigeration equipment market based on product type and applications.
In the overall application market, the food service segment currently holds the maximum share of 32.0% with revenue of USD 9.3 billion, which is estimated to reach USD 16.1 billion in 2018. Also, the food, beverage and distribution application market is estimated to reach revenue of USD 10.2 billion in 2018, growing at a CAGR of about 9.8% from 2012 - 2018.
At present, even the transportation refrigeration sector retains the maximum share of 18.8% with revenue of USD 5.4 billion in the industry. It is expected to attain revenue of USD 10.2 billion in 2018 at a CAGR of 11.1% from 2012 to 2018, owing to the rise in international food trade across the globe. Subsequently, the transportation refrigeration segment is followed by refrigerators and freezers segment that accounted to be USD 5.1 billion in 2012.
The report includes some of the major players leading the market. They are namely; Daikin Industries Ltd., Hussmann, Carrier, Dover, and ITW. All these market players have dominated the industry through their continuous innovations and developments in the commercial refrigeration equipment market.
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