According to a new market report published by Transparency Market Research “Commercial Refrigeration Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2022”, the global commercial refrigeration equipment market was valued at US$ 33,612.2 Mn in 2014 and is expected to reach US$ 66,887.3 Mn by 2022, expanding at a CAGR of 9.1% from 2015 to 2022.
Browse the full Commercial Refrigeration Equipment (Transportation Refrigeration Equipment, Refrigerators and Freezers, Beverage Refrigerators, Other Equipment, Commercial Refrigeration Equipment Parts) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2022 report at: http://www.transparencymarketresearch.com/commercial-refrigeration-equipment-market.html
Asia Pacific was the largest revenue contributor in 2014 and accounted for 35.4% of the global commercial refrigeration equipment market’s revenue. Changing food consumption trends and rising international food trade are the key factors fuelling the growth of the commercial refrigeration equipment market. The market has witnessed rising demand for refrigeration equipment in the food service industry owing to the increasing number of the supermarkets, hotels, cafes, and fast food chains worldwide. Asia Pacific is expected to be the fastest-growing and the largest revenue contributing commercial refrigeration equipment market over the forecast period. Product innovation and regulations would further trigger the replacement of conventional commercial refrigeration equipment with new, energy-efficient ones over the forecast period. This expected rise in demand for new energy-efficient commercial refrigeration systems in all regions would help boost the growth rate of the commercial refrigeration equipment market over the forecast period.
Focus on increasing sales in emerging markets and new product development are a few of the key strategies...