Commercial Refrigeration Equipment Market

Carrier Corporation (US) and Emerson Electric Company (US) are leading players in Commercial Refrigeration Equipment Market

The commercial refrigeration equipment market is estimated to be USD 33.58 billion in 2018 and is projected to reach USD 45.45 billion by 2023, at a CAGR of 6.2%, from 2018 to 2023. The growth of the market can be attributed to the improving consumer lifestyles and flourishing food and healthcare industries, growing cold chain market, and increasing use of advanced technologies, for instance,   magnetic refrigeration.

Carrier Corporation (US), Emerson Electric Company (US), Daikin Industries, Ltd. (Japan), and GEA Group AG (Germany), are recognized as leaders in the commercial refrigeration equipment market. These companies are focused on broadening their product portfolios to compete with other key market players.

Carrier Corporation is a leading company in the air conditioning, heating, and refrigeration industries. Carrier is one of the world’s leading providers of refrigeration and air conditioning solutions, and a part of United Technologies Corp, operating in its UTC Climate, Controls, & Security segment. The company was established to provide solutions for various applications in transport refrigeration, air conditioning, and commercial refrigeration equipment, among other industries.

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In November 2017, Carrier Corporation introduced the NaturalLINE container refrigeration system. This system maintains a temperature of minus 40 *C. In September 2017, Carrier Corporation launched a new engineless refrigeration unit used to chill smaller trucks and larger cargo vans. Earlier, in July 2017, it had launched a new (Environmental Protection Agency) EPA-approved refrigerant for North America truck and trailer systems. In November 2015, it had launched new equipment for its Supra range of truck refrigeration units. This product helps reduce unit noise emissions.

Emerson Electric Company is one of the leading providers of engineering services, globally. The company provides solutions for commercial, industrial, and residential applications. It operates through the commercial & residential solutions and automation solutions segments. The commercial & residential solutions segment is one of the leading providers of air conditioning, heating, and refrigeration solutions for commercial, industrial, and residential applications. It manufactures condensing units enhanced with the latest compressor technology.

In November 2017, Emerson announced the launch of the R-290 (propane) model of its Copeland M-Line condensing unit. This product has a more efficient compression technology that uses an Environmental Protection Agency (EPA) approved natural refrigerant. In August 2017, Emerson announced the launch of its fractional horsepower low-temperature Copeland Scroll compressors. This product utilizes the liquid-injection technology to cool discharge temperatures and reduce compressor stress. In March 2015, Emerson Climate Technologies launched residential variable speed compressor & drives, multi-compressor packs, and semi-hermetic water-cooled condensing units for the Indian market.

Related 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

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Report Code
CH 6661
RI Published ON
10/5/2018
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