Commercial Refrigeration Equipment Market Investigation and Growth Forecasted Until the End of 2022
Report describe that the total opportunity in this market stood at US$927.4 mn. Progressing at a CAGR of 6.50% between 2017 and 2025, the market expects to attain a value of US$1,619.0 mn by the end of 2025.
[ClickPress, Mon Mar 18 2019] There has been a tremendous increase in agricultural and food exports and imports globally. Growth in production, consumption, and trade of perishable, processed, and packaged food items has driven the need to design and manufacture efficient and effective refrigeration equipment for the commercial sector. Refrigeration is one effective method to store and transport perishable food items across and within nations. Rise in income level has raised the spending capacity in economically developed as well as developing nations. Level of income in an economy has a huge impact on the spending capacity of the population on consumption of processed and packaged food items. Export of meat demands the need for effective transportation refrigeration equipment. Appropriate refrigeration equipment play a vital role in preventing food wastage due to spoilage during storage and transportation.
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Production, storage, and transportation of perishable food items require appropriate refrigeration equipment and the rise in food trade has increased the demand for refrigeration equipment in the commercial sector significantly. The rise in income levels of an economy also boosts the spending capacity of the population on leisure travel. To meet the accommodation and meals of travelling population, the hospitality industry has witnessed a tremendous growth. This industry also keeps pace with the changing food consumption patterns due to huge penetration of stored, processed, and packaged food in the food industry. Out of which arises the need to equip the restaurants and food storage areas with efficient and energy saving refrigeration and storage equipment. Hotel industry relies largely on refrigeration in order to maintain food supply. The Increasing number of restaurants also is a vital reason to drive the demand for efficient commercial refrigeration equipment.
This research report provides an in-depth analysis of the Commercial Refrigeration Equipment Market in Latin America based on product type, application, refrigerant type, and country. On the basis of product type the commercial refrigeration equipment market in Latin America is segmented into transportation refrigeration equipment, refrigerator and freezer, beverage refrigeration, commercial refrigeration equipment parts, and others. On the basis of application the commercial refrigeration equipment market in Latin America is segment into food services, food and beverage retail, food and beverage distribution, food and beverage production, and others. On the basis of refrigerant type the commercial refrigeration equipment market in Latin America is segmented into fluorocarbons, inorganic, hydrocarbon/Natural.
The report segments the Latin American commercial refrigeration equipment market by country into Brazil, Mexico, Argentina, Chile, and Rest of Latin America. It also encompasses the key factors by country in the commercial refrigeration equipment market in Latin America. It further offers analysis of the factors that drive and restrain the growth of commercial refrigeration equipment market in Latin America. It discusses the prevailing market trends and prospective growth opportunities in the commercial refrigeration and equipment market country wise and segment wise. It provides market estimates and forecasts for all the segments in terms of revenue (in US$ Mn). Also provided in the report is the competitive landscape of the major players in the Latin American commercial refrigeration equipment market.
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The major players profiled in the report include Metalfrio Solutions SA, Beverage-Air Corporation, Illinois Tool Works, Inc., Dover Corporation, Daikin Industries, Ltd., United Technologies Corporation - (Climate, Controls and Security Unit), Hussmann International, Inc., Lennox International Inc. The company profiles offer a descriptive overview of the companies with respect to the company details, company description, SWOT analysis, revenue and regional market share, and strategic overview. The report also offers a competitive landscape of these players for the year 2016.
The Latin America commercial refrigeration equipment market is segmented as below:
By Product Type
- Transportation Refrigeration Equipment
- Refrigerator and Freezer
- Beverage Refrigeration
- Commercial refrigeration equipment parts
- Food Services
- Food and Beverage retail
- Food and Beverage distribution
- Food and Beverage Production
By Refrigerant Type
- Rest of Latin America
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