Global Commercial Refrigeration Equipment Market Trends And Strategies Of Major Players In The Commercial Refrigeration Equipment Market 2021-2030

27 Sep, 2021

The commercial refrigeration equipment market consists of sales of commercial refrigeration equipment by entities (organizations, sole traders, and partnerships) that produce commercial refrigeration equipment such as refrigerators and freezers used in supermarkets, convenience stores, restaurants, and commercial kitchens.

Global Commercial Refrigeration Equipment Market Size And Drivers:

The global commercial refrigeration equipment market is expected to grow from $59.21 billion in 2020 to $60.36 billion in 2021 at a compound annual growth rate (CAGR) of 1.9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $76.63 billion in 2025 at a CAGR of 6.1%. The increasing demand for frozen & chilled products from consumers is anticipated to drive the commercial refrigeration market.

Request For A Sample For The Global Commercial Refrigeration Equipment Market Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=3685&type=smp

Trends In The Global Commercial Refrigeration Equipment Market

Companies are concentrating on incorporating the latest technologies such as artificial intelligence, 5G, and machine learning into the commercial refrigeration equipment for decreasing electrical consumption, improved preventive maintenance, and better customer experience. For instance, in August 2020, Axiom Cloud and Turn tide Technologies collaborated to stimulate AI in Commercial refrigeration. Axiom will license divisions of its IoT infrastructure to Turn tide to support Turn tide's mission to reduce the 25% of global electricity consumption that is misused by legacy motors. Furthermore, in May 2019, the UTStarcom company launched the goBox together with China Mobile Group Zhejiang Company (Hangzhou), its first 5G-powered smart commercial refrigerator. The smart vending machine, goBox created a new way of shopping with an enhanced buying experience, driving greater consumption per transaction. The device is enabled by a powerful system platform supported by 5G, mobile cloud, and artificial intelligence.

Global Commercial Refrigeration Equipment Market Segments:
The global commercial refrigeration equipment market is further segmented –
By Product Type: Refrigerator & Freezer, Transportation Refrigeration, Refrigerated Display Cases, Beverage Refrigeration, Ice Cream Merchandiser, Refrigerated Vending Machine
By Application: Hotels & Restaurants, Supermarkets & Hypermarkets, Convenience Stores, Bakery
By Refrigerant Type: Fluorocarbons, Hydrocarbons, Inorganics
By Geography: The global commercial refrigeration equipment market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

Read More On The Report For The Global Commercial Refrigeration Equipment Market At:

https://www.thebusinessresearchcompany.com/report/commercial-refrigeration-equipment-global-market-report

Commercial Refrigeration Equipment Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides commercial refrigeration equipment market overviews, analyzes and forecasts market size and growth for the global commercial refrigeration equipment market, commercial refrigeration equipment market share, commercial refrigeration equipment market players, commercial refrigeration equipment market segments and geographies, commercial refrigeration equipment market’s leading competitors’ revenues, profiles and market shares. The commercial refrigeration equipment market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.