The Commercial Refrigeration Equipment Market is being driven by Need to increase storage life of food products
The Commercial Refrigeration Equipment Market is expected to grow at a CAGR of 6.6% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 15630.6 million. Commercial refrigeration equipment, which is a significant investment for businesses, is expected to deliver optimal energy efficiency to minimize operational costs. ENERGY STAR certification is a preferred choice for end-users, as these appliances offer energy savings of approximately 20% compared to standard commercial refrigeration equipment. ENERGY STAR-certified models incorporate advanced components, including Electronically Commutated Motor (ECM) evaporators and condenser fan motors, hot gas anti-sweat heaters, and high-efficiency compressors. These features contribute to reduced energy consumption and subsequent utility bills. The energy efficiency of ENERGY STAR-certified commercial refrigeration equipment may vary depending on the door type.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
|
Report Coverage |
Details |
Page number |
267 |
Base year |
2024 |
Historic period |
2019-2023 |
Forecast period |
2025-2029 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.6% |
Market growth 2025-2029 |
USD 15630.6 million |
Market structure |
market_structure.ucfirst |
YoY growth 2024-2025(%) |
6.3 |
Key countries |
China, US, Canada, Japan, India, Germany, UK, South Korea, France, and Australia |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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The Commercial Refrigeration Equipment Market encompasses various products such as Walk-In Freezers, Undercounter Refrigerators, Refrigerated Display Merchandisers, Ice Dispensers, Blast Chillers, Vending Machines, Refrigeration Units, Cooling Systems, Refrigeration Components, and more. Energy efficiency is a key focus with Compressor Efficiency and Refrant Efficiency, as well as certifications like Energy Star and LEED. Remote diagnostics, control systems, monitoring software, automation, optimization, and refrigeration service providers ensure efficient operation. Regulations regarding refrigeration compliance, food spoilage, and shelf life are crucial considerations. Refrigeration design, engineering, and troubleshooting are essential for effective implementation. Upgrades, maintenance agreements, and refrigeration repair are ongoing needs. Commercial Kitchen Equipment and Food Processing Equipment often require refrigeration storage and cold chain management. Refrigeration logistics, transportation, refrigerated trucks, and shipping containers complete the market landscape.
The Commercial Refrigeration Equipment Market is a significant segment of the broader Global Electrical Components and Equipment Market. This market encompasses the manufacturing and sales of Refrigeration Systems, Commercial Refrigerators, and Display Cases, collectively referred to as reach-in refrigerators. The parent market covers electrical components and equipment manufacturers, including those specializing in water heaters and accessories, motors, automation solutions, electrical distribution and protection equipment, and HVAC systems, among others. The market size is determined by the combined revenue generated from these sectors, as well as rental and leasing services to industrial, commercial, and residential clients.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
Jesse Maida
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