According
to a new market report published by Transparency Market Research "
Commercial
Refrigeration Equipment Market
- Global Industry Analysis, Size, Share, Growth, Trends and Forecast
2013 - 2019", the market was valued at USD 11.16 billion in
2012, and is expected to reach USD 15.90 billion by 2019, growing at
a CAGR of 5.2% from 2013 to 2019. Lack of adequate power
infrastructure and increasing demand for reliable electricity
delivery are the major driving forces of this market.
Browse
the full Commercial
Refrigeration Equipment Market
Report:
http://www.transparencymarketresearch.com/commercial-refrigeration-equipment-market.html
The
commercial refrigeration equipment market is driven by various
factors including continuous evolving technology, changing food
consumption trends, rising international food trade, emergence of
supermarkets and fast food chains, rise in horticulture, and sea-food
and processed food exports across the globe. However, some of the key
restraints for the commercial refrigeration equipment market include
less energy-efficient commercial refrigeration equipments, the
Montreal and Kyoto protocol and increasing fuel cost.
Currently,
the transportation refrigeration segment retains the maximum share of
18.8% with revenue of USD 5.4 billion owing to the rise in
international food trade across the globe. The transportation
refrigeration segment is expected to attain revenue of USD 10.2
billion in 2018 at a CAGR of 11.1% from 2012 to 2018. The
transportation refrigeration segment is followed by refrigerators and
freezers segment, which is estimated to be USD 5.1 billion in 2012.
In
the overall application market, the food service sector currently
retains the maximum share of 32.0% with revenue of USD 9.3 billion,
which is estimated to reach USD 16.1 billion in 2018. The food,
beverage and distribution application market is estimated to attain
revenue of USD 10.2 billion in 2018, growing at a CAGR of about 9.8%
from 2012 - 2018.
Some
of the major players leading the market include Daikin Industries
Ltd., Carrier, Dover, ITW, and Hussmann. Through continuous
innovation and development these players continue to dominate the
commercial refrigeration equipment market.
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