Albany, NY -- (SBWIRE) -- 10/09/2015 -- In its latest report, Transparency Market Research states that,growing at a CAGR of 6.9% during the forecast period of 2012 to 2018, the Latin America commercial refrigeration equipment market is projected to reach a market value of US$1.1 billion by the end of 2018. The report, titled "Commercial Refrigeration Equipment Market - Latin America Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012-2018", is available for sale on the company website.

Browse the full Commercial Refrigeration Equipment Market - Latin America Report at http://www.transparencymarketresearch.com/commercial-refrigeration-equipments.html

The research report segments the Latin America market for commercial refrigeration equipment on the basis of product, application, and geography. Commercial refrigeration equipment finds applications in operations such as food and beverage production, food and beverage distribution, food and beverage retail, food services, and others. On the basis of product type, commercial refrigeration equipment is segmented into beverage refrigeration, transport refrigeration equipment, freezers and refrigerators, and other parts and equipment. Region-wise, the Latin America market is divided into South America, Central America, and the Caribbean.

By application, food services dominate the commercial refrigeration equipment market and, together with the food and beverage distribution segment,hold over 50% of the Latin America market share.Food services comprise vending machines, display cases, and beverage refrigeration equipment.

Product-wise, transportation refrigeration equipment leads the way, with a surge in inbound trade and exports driving the demand for refrigerated trailers and trucks and shipping containers. Freezers and refrigerators held the second-largest share of the commercial refrigeration equipment market and the highest demand stems from restaurants, hotels, and cafes.

Regionally, South America leads the Latin America commercial refrigeration equipment market owing toits large population base, rise in commercial establishments such as cafes, restaurants, and retail outlets, and growing demand for new installations. However, the development of tourism in the Caribbean region has supported the growth of the commercial refrigeration equipment market in the region. Central America has been focusing on improving trade relations with numerous emerging economies, thereby establishing itself as a potential export region. This in turn has positively impacted the commercial refrigeration equipment market.

According to a TMR analyst, the Latin America market is governed by numerous factors impacting its performance over the forecast period. "Changes in lifestyle and food consumption habits have led to a rise in demand for frozen and packaged food items, consequently fueling the demand for commercial refrigeration equipment. Moreover, technological advancements have given rise to modern and more complex equipment, transitioning from conventional refrigeration methods," the analyst states. He further adds, "Rising fuel prices and inadequate presence of energy-efficient commercial refrigeration equipment will inhibit the growth of the Latin America market."

Being in a transitional phase, the Latin America market for commercial refrigeration equipment holds immense possibilities for growth. Although the presence of international players is not very strong, there are many small-to-medium scale vendors catering to the growing demand.The leading commercial refrigeration equipment manufacturers profiled in the research report are Dover Corporation,Illinois Tool Works, Inc.,Lennox International, Inc.,Metalfrio Solutions SA,United Technologies Corporation – Climate, Controls and Security Unit (Carrier),Beverage-Air Corporation,Hussmann International, Inc., and Daikin Industries, Ltd.

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