Rapid expansion of the food industry is leading to revenue-generation opportunities in the commercial refrigeration equipment market
Wilmington, Delaware, United States, June 17, 2022 (GLOBE NEWSWIRE) -- The global commercial refrigeration equipment market is estimated to attract growth at a CAGR of 6.7% during the forecast period of 2022 to 2031, states a review by Transparency Market Research (TMR). Hence, the market is projected to gain a valuation of US$ 75.34 Bn by 2031.
The TMR study focuses on offering in-depth analysis on different aspects impacting the growth trajectory of the commercial refrigeration equipment market. Moreover, it sheds light on a wide range of products available in the market including the best commercial refrigerators in 2022 for restaurants.
Companies operating in the commercial refrigeration equipment market are utilizing different strategies such as collaborations in order to maintain their prominent positions. Moreover, they are investing heavily in product innovations and launching next-gen products. This aside, players are increasing awareness about their available product ranges and providing the complete guide to commercial refrigeration. These efforts are resulting into sizable increase in their products sales, which in turn, is propelling the global commercial refrigeration equipment market, according to analysts at TMR.
The commercial refrigeration equipment market in Asia Pacific is likely to attract notable growth opportunities during the forecast period due to factors such as rise in number of supermarkets and hypermarkets and increase in urbanization across several regional nations. This aside, the Asia Pacific commercial refrigeration equipment market is being driven by rise in spending on the development of private & public infrastructure and expansion of the regional manufacturing sector, note researchers at TMR.
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Commercial Refrigeration Equipment Market: Key Findings
The demand for next-gen food refrigeration systems is being increasing in the recent years owing to their ability to offer striking designs that help in attracting the attention of customers. This factor, in turn, is propelling the commercial refrigeration equipment market. Moreover, the market is gaining lucrative prospects owing to a surge in the international food trade and shift in the food consumption trends among consumers around the world.
In the food industry, refrigeration systems are being increasingly used in the convenience stores, food processing industries, and specialty food stores. Hence, the expansion of the food industry is resulting into profitable prospects for the commercial refrigeration equipment manufacturers, according to a TMR review.
Major enterprises in the commercial refrigeration equipment industry are strengthening their production abilities in food truck commercial refrigeration equipment and kitchen fridge & freezers in order to cater to rising demand for these products. This aside, players are also offering a brief guide to refrigeration systems for the food service industry. Such efforts are expected to boost the sales growth in the commercial refrigeration equipment market.
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Commercial Refrigeration Equipment Market: Growth Boosters
Surge in the application of refrigeration in the global food industry is generating profitable prospects in the commercial refrigeration equipment market
Increasing understanding among consumers about different types of commercial refrigerators & their usage is resulting into promising business opportunities in the market
Rise in the number of supermarkets and hypermarkets across the globe are boosting the demand for different types of commercial refrigeration equipment
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Commercial Refrigeration Equipment Market: Key Players
Some of the key players profiled in the report are:
Frigoglass S.A.I.C.
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Commercial Refrigeration Equipment Market Segmentation
Others (Serve Over Counter, etc.)
Ice Cream Machines, Ice Machines
Full Service Restaurants & Hotels
Others (Food Trucks, Caterers, etc.)
Others (Food Processing Industry, etc.)
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Transparency Market Research is a global market research firm that offers the latest market research reports and business consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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