HOME Top Market Reports Commercial Refrigeration Equipment Market by Product Type, Refrigerant Type (Fluorocarbons, Hydrocarbons, Inorganics) Application (Hotels & Restaurants, Supermarkets & Hypermarkets), and Region (Europe, APAC, North America) - Global Forecast to 2023

Commercial Refrigeration Equipment Market by Product Type, Refrigerant Type (Fluorocarbons, Hydrocarbons, Inorganics) Application (Hotels & Restaurants, Supermarkets & Hypermarkets), and Region (Europe, APAC, North America) - Global Forecast to 2023

By: marketsandmarkets.com
Publishing Date: October 2018
Report Code: CH 6661

 

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[159 Pages Report] The global commercial refrigeration equipment market was valued at USD 31.50 billion in 2017 and is projected to reach USD 45.45 billion by 2023, at a CAGR of 6.2%, during the forecast period.

Objectives of this study are:

  • To analyze and forecast the size of the commercial refrigeration equipment market, in terms of value
  • To define, segment, and estimate the commercial refrigeration equipment market based on product type, refrigerant type, and application
  • To forecast the size of market segments, in terms of value, with respect to five main regions, namely, Asia Pacific, North America, Europe, the Middle East & Africa, and South America
  • To provide detailed information regarding key factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the growth of the commercial refrigeration equipment market
  • To strategically analyze micromarkets with respect to individual growth trends, growth prospects, and contribution to the total market
  • To analyze opportunities in the commercial refrigeration equipment market for stakeholders and provide a competitive landscape of the market
  • To track and analyze competitive developments, such as new product developments/launches, acquisitions, expansions, partnerships, and collaborations in the commercial refrigeration equipment market
  • To strategically profile key players and comprehensively analyze their market shares and core competencies

The years considered for the study are:

  • Base Year–2017
  • Estimated Year–2018
  • Projected Year–2023
  • Forecast Period–2018 to 2023

For company profiles in the report, 2017 was considered as the base year. In cases wherein information is unavailable for the base year, the years prior to it were considered.

Research Methodology

The research methodology used to estimate and forecast the global commercial refrigeration equipment market began with capturing data on key vendor revenues through secondary sources, such as Hoovers, Bloomberg, Chemical Weekly, Factiva, and various other government and private websites. Vendor offerings were also taken into consideration to determine market segmentation. After arriving at the overall market size, the total market was split into several segments and subsegments, which were later verified through primary research by conducting extensive interviews with key personnel, such as CEOs, VPs, directors, and executives. Data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all the segments and subsegments of the market. The breakdown of profiles of primary respondents is depicted in the figure below.

Commercial Refrigeration Equipment Market

To know about the assumptions considered for the study, download the pdf brochure

The commercial refrigeration equipment market has a diversified ecosystem of upstream players, including raw material suppliers, along with downstream stakeholders, vendors, and government organizations. Companies operating in the commercial refrigeration equipment market include Baltimore Aircoil Company, Inc. (US), Daikin Industries, Ltd. (Japan), GEA Group AG (Germany), Emerson Climate Technologies (US), among others.

Target Audience

  • Manufacturers, dealers, and suppliers of the commercial refrigeration equipment
  • End users of the commercial refrigeration equipment
  • Government and research organizations
  • Companies operational in material R&D
  • Associations and industrial bodies
  • Investment banks
  • Consulting companies/consultants in chemical and material sectors

This study answers several questions for stakeholders, primarily about the market segments, which they need to focus upon during the next two to five years so that they may prioritize their efforts and investments accordingly.”

Scope of the Report:

This research report categorizes the commercial refrigeration equipment market based on product type, refrigerant type, application, and region, and forecasts revenues as well as analyzes trends in each of the submarkets.

On the basis of Product Type:

  • Refrigerator & Freezer
  • Transportation Refrigeration
  • Refrigerated Display Cases
  • Beverage Refrigeration
  • Ice Cream Merchandiser
  • Refrigerated Vending Machine

On the basis of Refrigerant Type:

  • Fluorocarbons
  • Hydrocarbons
  • Inorganics

On the basis of Application:

  • Hotels & Restaurants
  • Supermarkets & Hypermarkets
  • Convenience Stores
  • Bakery

On the basis of Region:

  • Asia Pacific
  • North America
  • Europe
  • South America
  • Middle East & Africa

The following customization options are available for the report:

Apart from the given market data, MarketsandMarkets offers customizations as per the specific needs of the companies. The following customization options are available for the report:

Product Analysis

  • Product matrix, which provides a detailed comparison of the product portfolio of each company

Geographic Analysis

  • Further breakdown of the Rest of Asia Pacific, Rest of the Middle East & Africa, Rest of Europe, and Rest of South America commercial refrigeration equipment markets

Company Information

  • Detailed analysis and profiles of additional market players (up to five companies)

Table of Contents

1 Introduction (Page No. - 17)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Scope of the Study
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 21)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primary Interviews
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Data Triangulation Methodology
    2.4 Research Assumptions

3 Executive Summary (Page No. - 29)

4 Premium Insights (Page No. - 33)
    4.1 Attractive Opportunities in the Commercial Refrigeration Equipment Market
    4.2 Commercial Refrigeration Equipment Market, By Region
    4.3 Asia Pacific Commercial Refrigeration Equipment Market, By Country & Product Type
    4.4 Commercial Refrigeration Equipment Market, By Application & Region
    4.5 Leading Countries in the Commercial Refrigeration Equipment Market
    4.6 Commercial Refrigeration Equipment Market, By Refrigerant Type

5 Market Overview (Page No. - 37)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Improving Consumer Lifestyle and Flourishing Food and Healthcare Industries
                    5.2.1.2 Growing Cold Chain Market
                    5.2.1.3 Increasing Use of Advanced Technologies Such as Magnetic Refrigeration
           5.2.2 Restraints
                    5.2.2.1 Stringent Regulations Against the Use of Fluorocarbon Refrigerants
           5.2.3 Opportunities
                    5.2.3.1 Potential Demand for Carbon Dioxide/Ammonia (CO2/Nh3) Cascade Refrigeration Systems
                    5.2.3.2 Improvements in the Efficiency of Refrigeration Systems With the Use of Natural Refrigerants
           5.2.4 Challenges
                    5.2.4.1 Few Purification Companies
    5.3 Porter’s Five Forces Analysis
           5.3.1 Threat of New Entrants
           5.3.2 Bargaining Power of Suppliers
           5.3.3 Threat of Substitutes
           5.3.4 Bargaining Power of Buyers
           5.3.5 Intensity of Competitive Rivalry
    5.4 Policies and Regulations
           5.4.1 Europe
                    5.4.1.1 Eu F-Gas Regulations
                    5.4.1.2 Montreal Protocol
                    5.4.1.3 Denmark
                    5.4.1.4 Austria
           5.4.2 North America
                    5.4.2.1 Significant New Alternative Policy (SNAP) By EPA
           5.4.3 Asia Pacific
                    5.4.3.1 Japan: Revised F-Gas Law
                    5.4.3.2 China - Feco: First Catalogue of Recommended Substitutes for HCFCS

6 Commercial Refrigeration Equipment Market, By Product Type (Page No. - 46)
    6.1 Introduction
    6.2 Refrigerator & Freezer
           6.2.1 Refrigerator & Freezer Types
                    6.2.1.1 Walk-In
                    6.2.1.2 Reach-In
                    6.2.1.3 Chest
    6.3 Transportation Refrigeration
           6.3.1 Transportation Refrigeration Types
                    6.3.1.1 Shipping Container
                    6.3.1.2 Trailer
                    6.3.1.3 Truck
    6.4 Refrigerated Display Case
    6.5 Beverage Refrigeration
    6.6 Ice Cream Merchandiser
    6.7 Refrigerated Vending Machine

7 Commercial Refrigeration Equipment Market, By Refrigerant Type (Page No. - 53)
    7.1 Introduction
    7.2 Fluorocarbons
           7.2.1 Hydrochlorofluorocarbons (HCFCS)
           7.2.2 Hydrofluorocarbons (HFCS)
           7.2.3 Hydrofluoroolefins (HFOS)
    7.3 Hydrocarbons
           7.3.1 Isobutane
           7.3.2 Propane
           7.3.3 Others
    7.4 Inorganics
           7.4.1 Ammonia
           7.4.2 CO2
           7.4.3 Others

8 Commercial Refrigeration Equipment Market, By Application (Page No. - 59)
    8.1 Introduction
    8.2 Market Size & Projection
    8.3 Hotels & Restaurants
    8.4 Supermarkets & Hypermarkets
    8.5 Convenience Stores
    8.6 Bakeries

9 Commercial Refrigeration Equipment Market, By Region (Page No. - 64)
    9.1 Introduction
    9.2 Asia Pacific
           9.2.1 China
           9.2.2 Japan
           9.2.3 India
           9.2.4 South Korea
           9.2.5 Thailand
           9.2.6 Malaysia
           9.2.7 Singapore
           9.2.8 Indonesia
           9.2.9 Rest of Asia Pacific
    9.3 North America
           9.3.1 US
           9.3.2 Canada
           9.3.3 Mexico
    9.4 Europe
           9.4.1 Germany
           9.4.2 UK
           9.4.3 France
           9.4.4 Italy
           9.4.5 Spain
           9.4.6 Rest of Europe
    9.5 Middle East & Africa
           9.5.1 Saudi Arabia
           9.5.2 Turkey
           9.5.3 Egypt
           9.5.4 Rest of Middle East & Africa
    9.6 South America
           9.6.1 Brazil
           9.6.2 Argentina
           9.6.3 Chile
           9.6.4 Rest of South America

10 Competitive Landscape (Page No. - 109)
     10.1 Overview
     10.2 Market Ranking Analysis
     10.3 Competitive Situations & Trends
             10.3.1 New Product Launches
             10.3.2 Acquisitions
             10.3.3 Expansions
             10.3.4 Agreements
             10.3.5 Joint Ventures

11 Company Profiles (Page No. - 116)
(Business Overview, Products Offered, Recent Developments, SWOT Analysis MnM View)*
     11.1 Emerson Electric Company
     11.2 Carrier Corporation
     11.3 Danfoss
     11.4 GEA Group
     11.5 Heatcraft Worldwide Refrigeration
     11.6 Daikin
     11.7 Johnson Controls
     11.8 Bitzer
     11.9 Advansor
     11.10 Baltimore Aircoil Company
     11.11 Hillphoenix
     11.12 Carnot Refrigeration
     11.13 SCM Frigo
     11.14 Green & Cool
     11.15 Henry Technologies
     11.16 Other Leading Players
             11.16.1 Aht Cooling Systems GmbH
             11.16.2 Bharat Refrigerations
             11.16.3 Commercial Refrigeration Inc.
             11.16.4 Evapco
             11.16.5 Hussman Corporation
             11.16.6 Mayekawa Mfg. Co., Ltd.
             11.16.7 National Refrigeration Company
             11.16.8 Rockwell Industries Limited
             11.16.9 Western Refrigeration Private Limited

*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.

12 Appendix (Page No. - 153)
     12.1 Discussion Guide
     12.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     12.3 Available Customizations
     12.4 Related Reports
     12.5 Author Details


List of Tables (99 Tables)

Table 1 Schedule for Eliminating Hcfc: Non-Article 5 Parties
Table 2 Schedule for Eliminating Hcfc: Article 5 Parties
Table 3 Commercial Refrigeration Equipment Market Size, By Product Type, 2016–2023 (USD Billion)
Table 4 Refrigerator & Freezer Market Size, By Region, 2018–2023 (USD Million)
Table 5 Transportation Refrigeration Market Size, By Region, 2016–2023 (USD Million)
Table 6 Refrigerated Display Case Market Size, By Region, 2016–2023 (USD Million)
Table 7 Beverage Refrigeration Market Size, By Region, 2016–2023 (USD Million)
Table 8 Ice Cream Merchandiser Market Size, By Region, 2016–2023 (USD Million)
Table 9 Refrigerated Vending Machine Market Size, By Region, 2016–2023 (USD Million)
Table 10 Commercial Refrigeration Equipment Market Size, By Type, 2016–2023 (USD Billion)
Table 11 Fluorocarbons Market Size, By Region, 2018–2023 (USD Million)
Table 12 Hydrocarbons Market Size, By Region, 2018–2023 (USD Million)
Table 13 Inorganics Market Size, By Region, 2016–2023 (USD Million)
Table 14 Commercial Refrigeration Equipment By Market, By Application, 2016–2023 (USD Billion)
Table 15 Commercial Refrigeration Equipment By Market in Hotels & Restaurants, By Region, 2016–2023 (USD Million)
Table 16 Commercial Refrigeration Equipment By Market in Supermarkets & Hypermarkets, By Region, 2016–2023 (USD Million)
Table 17 Commercial Refrigeration Equipment By Market in Convenience Stores, By Region, 2016–2023 (USD Million)
Table 18 Commercial Refrigeration Equipment By Market in Bakeries, By Region, 2016–2023 (USD Million)
Table 19 Commercial Refrigeration Equipment By Market, By Region, 2016–2023 (USD Billion)
Table 20 Commercial Refrigeration Equipment By Market, By Product Type, 2016–2023 (USD Billion)
Table 21 Commercial Refrigeration Equipment By Market, By Application, 2016–2023 (USD Billion)
Table 22 Commercial Refrigeration Equipment By Market, By Refrigeration Type, 2016–2023 (USD Billion)
Table 23 Asia Pacific: By Market, By Country, 2016–2023 (USD Million)
Table 24 Asia Pacific: By Market, By Product Type, 2016–2023 (USD Million)
Table 25 Asia Pacific: By Market, By Application, 2016–2023 (USD Million)
Table 26 Asia Pacific: By Market, By Refrigerant Type, 2016–2023 (USD Million)
Table 27 China: By Market, By Application, 2016–2023 (USD Million)
Table 28 China: By Market, By Product Type, 2016–2023 (USD Million)
Table 29 Japan: By Market, By Application, 2016–2023 (USD Million)
Table 30 Japan: By Market, By Product Type, 2016–2023 (USD Million)
Table 31 India: By Market, By Application, 2016–2023 (USD Million)
Table 32 India: By Market, By Product Type, 2016–2023 (USD Million)
Table 33 South Korea: By Market, By Application, 2016–2023 (USD Million)
Table 34 South Korea: By Market, By Product Type, 2016–2023 (USD Million)
Table 35 Thailand: By Market, By Application, 2016–2023 (USD Million)
Table 36 Thailand: By Market, By Product Type, 2016–2023 (USD Million)
Table 37 Malaysia: By Market, By Application, 2016–2023 (USD Million)
Table 38 Malaysia: By Market, By Product Type, 2016–2023 (USD Million)
Table 39 Singapore: By Market, By Application, 2016–2023 (USD Million)
Table 40 Singapore: By Market, By Product Type, 2016–2023 (USD Million)
Table 41 Indonesia: By Market, By Application, 2016–2023 (USD Million)
Table 42 Indonesia: By Market, By Product Type, 2016–2023 (USD Million)
Table 43 Rest of Asia Pacific: By Market, By Application, 2016–2023 (USD Million)
Table 44 Rest of Asia Pacific: By Market, By Product Type, 2016–2023 (USD Million)
Table 45 North America: By Market, By Country, 2016–2023 (USD Million)
Table 46 North America: By Market, By Product Type, 2016–2023 (USD Million)
Table 47 North America: By Market, By Application, 2016–2023 (USD Million)
Table 48 North America: By , By Refrigerant Type, 2016–2023 (USD Million)
Table 49 US: By Market, By Application, 2016–2023 (USD Million)
Table 50 US: By Market, By Product Type, 2016–2023 (USD Million)
Table 51 Canada: By Market, By Application, 2016–2023 (USD Million)
Table 52 Canada: By Market, By Product Type, 2016–2023 (USD Million)
Table 53 Mexico: By Market, By Application, 2016–2023 (USD Million)
Table 54 Mexico: By Market, By Product Type, 2016–2023 (USD Million)
Table 55 Europe: By Market, By Country, 2016–2023 (USD Million)
Table 56 Europe: By Market, By Application, 2016–2023 (USD Million)
Table 57 Europe: By Market, By Product Type, 2016–2023 (USD Million)
Table 58 Europe: By Market, By Refrigerant Type, 2016–2023 (USD Million)
Table 59 Germany: By Market, By Application, 2016–2023 (USD Million)
Table 60 Germany: By Market, By Product Type, 2016–2023 (USD Million)
Table 61 UK: By Market, By Application, 2016–2023 (USD Million)
Table 62 UK: By Market, By Product Type, 2016–2023 (USD Million)
Table 63 France: By Market, By Application, 2016–2023 (USD Million)
Table 64 France: By Market, By Product Type, 2016–2023 (USD Million)
Table 65 Italy: By Market, By Application, 2016–2023 (USD Million)
Table 66 Italy: By Market, By Product Type, 2016–2023 (USD Million)
Table 67 Spain: By Market, By Application, 2016–2023 (USD Million)
Table 68 Spain: By Market, By Product Type, 2016–2023 (USD Million)
Table 69 Rest of Europe: By Market, By Application, 2016–2023 (USD Million)
Table 70 Rest of Europe: By Market, By Product Type, 2016–2023 (USD Million)
Table 71 Middle East & Africa By Market, By Country, 2016–2023 (USD Million)
Table 72 Middle East & Africa: By Market, By Product Type, 2016–2023 (USD Million)
Table 73 Middle East & Africa: By Market, By Application, 2016–2023 (USD Million)
Table 74 Middle East & Africa: By Market, By Refrigerant Type, 2016–2023 (USD Million)
Table 75 Saudi Arabia: By Market, By Application, 2016–2023 (USD Million)
Table 76 Saudi Arabia: By Market, By Product Type, 2016–2023 (USD Million)
Table 77 Turkey: By Market, By Application, 2016–2023 (USD Million)
Table 78 Turkey: By Market, By Product Type, 2016–2023 (USD Million)
Table 79 Egypt: By Market, By Application, 2016–2023 (USD Million)
Table 80 Egypt: By Market, By Product Type, 2016–2023 (USD Million)
Table 81 Rest of Middle East & Africa: By Market, By Application, 2016–2023 (USD Million)
Table 82 Rest of Middle East & Africa: By Market, By Product Type, 2016–2023 (USD Million)
Table 83 South America: By Market, By Country, 2016–2023 (USD Million)
Table 84 South America: By Market, By Product Type, 2016–2023 (USD Million)
Table 85 South America: By Market, By Product Type, 2016–2023 (USD Million)
Table 86 South America: By Market, By Refrigerant Type, 2016–2023 (USD Million)
Table 87 Brazil: By Market, By Application, 2016–2023 (USD Million)
Table 88 Brazil: By Market, By Product Type, 2016–2023 (USD Million)
Table 89 Argentina: By Market, By Application, 2016–2023 (USD Million)
Table 90 Argentina: By Market, By Product Type, 2016–2023 (USD Million)
Table 91 Chile: By Market, By Application, 2016–2023 (USD Million)
Table 92 Chile: By Market, By Product Type, 2016–2023 (USD Million)
Table 93 Rest of South America: By Market, By Application, 2016–2023 (USD Million)
Table 94 Rest of South America: By Market, By Product Type, 2016–2023 (USD Million)
Table 95 New Product Launches, 2013-2017
Table 96 Acquisitions, 2015-2016
Table 97 Expansions, 2015-2016
Table 98 Agreements, 2015-2017
Table 99 Joint Venture, 2014


List of Figures (32 Figures)

Figure 1 Commercial Refrigeration Equipment Market: Research Design
Figure 2 Market Size Estimation: Bottom-Up Approach
Figure 3 Market Size Estimation: Top-Down Approach
Figure 4 Commercial Refrigeration Equipment Market: Data Triangulation
Figure 5 Hotels & Restaurants Application Segment Estimated to Lead Commercial Refrigeration Market in 2018
Figure 6 Refrigerated Vending Machine Segment Expected to Grow at Highest CAGR Between 2018 and 2023
Figure 7 Hydrocarbons Refrigerant Type Segment Expected to Grow at Highest CAGR Between 2018 and 2023
Figure 8 Asia Pacific Expected to Lead Commercial Refrigeration Equipment Market During Forecast Period
Figure 9 Increasing Use of Commercial Refrigeration in Supermarkets & Hypermarkets Segment Expected to Drive Commercial Refrigeration Equipment Market From 2018 to 2023
Figure 10 Commercial Refrigeration Equipment Market in South America Projected to Grow at Highest CAGR During Forecast Period
Figure 11 Refrigerator & Freezer Product Segment Estimated to Lead Asia Pacific Commercial Refrigeration Equipment Market in 2018
Figure 12 Hotels & Restaurants Segment Estimated to Lead Commercial Refrigeration Equipment Market in 2018
Figure 13 Saudi Arabia Projected to Grow at Highest CAGR in Commercial Refrigeration Equipment Market Between 2018 and 2023
Figure 14 Hydrocarbons Segment Projected to Grow at Highest CAGR in Commercial Refrigeration Equipment Market Between 2018 and 2023
Figure 15 Commercial Refrigeration Equipment Market: Drivers, Restraints, Opportunities, and Challenges
Figure 16 Porter’s Five Forces Analysis of the Commercial Refrigeration Equipment Market
Figure 17 Refrigerator & Freezer Segment Projected to Lead Commercial Refrigeration Equipment Market During the Forecast Period
Figure 18 Fluorocarbons Segment Estimated to Lead the Commercial Refrigeration Equipment Market During Forecast Period
Figure 19 Supermarkets & Hypermarkets Segment Expected to Grow at the Highest CAGR During the Forecast Period
Figure 20 Commercial Refrigeration Market Snapshot: Chile, India, and Egypt are Emerging as Strategic Locations
Figure 21 Asia Pacific Commercial Refrigeration Equipment Market Snapshot
Figure 22 North America Commercial Refrigeration Equipment Market Snapshot
Figure 23 Europe Commercial Refrigeration Equipment Market Snapshot
Figure 24 Middle East & Africa Commercial Refrigeration Equipment Market Snapshot
Figure 25 South America Commercial Refrigeration Equipment Market Snapshot
Figure 26 Companies in the Commercial Refrigeration Equipment Market Have Adopted Organic Growth Strategies Between 2013 and 2018
Figure 27 Commercial Refrigeration Equipment Market Ranking, By Company, 2018
Figure 28 Emerson Electric Company: Company Snapshot
Figure 29 Danfoss: Company Snapshot
Figure 30 GEA Group: Company Snapshot
Figure 31 Daikin: Company Snapshot
Figure 32 Johnson Controls: Company Snapshot

The global commercial refrigeration equipment market is projected to grow from an estimated USD 33.58 billion in 2018 to USD 45.45 billion by 2023, at a CAGR of 6.2%, from 2018 to 2023. The commercial refrigeration equipment market is expected to shift towards natural refrigerant-based systems because of the potential for large energy savings, and implementation of stringent regulations worldwide for phasing out ozone-depleting substances, such as hydrofluorocarbons (HFCs) and hydrochlorofluorocarbons (HCFCs). The demand for NH3/CO2 cascade systems is also slated to go up gradually due to the advantages they offer for food processing and low-temperature distribution facilities. These benefits include low operating costs (as they use less energy per ton of refrigeration compared to other systems), lower capital and compliance costs, optimal food quality, and increased throughput.

The hotels and restaurants segment is projected to be the largest application segment of the commercial refrigeration equipment market from 2018 to 2023. The advanced commercial refrigerators provide for practical designs to capture the attention of customers at any such point of sale.

The fluorocarbons segment is estimated to be the largest refrigerant type segment of the commercial refrigeration equipment market in 2018. Fluorocarbons are chemical compounds comprising carbon, hydrogen, chlorine, and fluorine as their major constituents. However, not all fluorocarbons may consist of both chlorine and fluorine atoms. The applications of these refrigerants are in refrigerators (domestic, transport, and commercial) and large-scale refrigerators (supermarket/ hypermarket). Fluorocarbons are further sub-divided into three types – HFCs, HCFCs, and HFOs.

The Asia Pacific is expected to be the largest market of commercial refrigeration equipment during the forecast period. The increasing population in the region, improving economic conditions, such as rising GDP & disposable incomes, and a booming consumer appliances sector have led to growth in the commercial refrigeration equipment in the region. In addition, the growth of the commercial refrigeration equipment market in this region is fueled by growth in the manufacturing sector; increase in spending on private & public infrastructure development; and rapid urbanization.

Commercial Refrigeration Equipment Market

Stringent regulations against the use of fluorocarbon refrigerants is a key restraint in the commercial refrigeration equipment market. Fluorocarbon refrigerants adversely affect the ozone layer due to which, the governments of several countries worldwide are imposing regulations to limit the use of fluorocarbon refrigerants. They have agreed to phase out the use of HCFCs and HFCs by imposing limits on their consumption.

Key players operating in the commercial refrigeration equipment market include Carrier Corporation (US), Emerson Electric Company (US), Daikin Industries, Ltd. (Japan), and GEA Group AG (Germany).. These companies focus on enhancing their product portfolios to grow in the commercial refrigeration equipment market.

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