Lucintel anticipates that Asia Pacific will be the fastest growing region in the commercial refrigeration equipment market

   October 23, 2019
According to a new market report by Lucintel, the future of the commercial refrigeration equipment market looks promising with opportunities in the food service, food and beverage retail, food and beverage distribution food, and beverage production sectors. The commercial refrigeration equipment market is expected to grow with a CAGR of 9% from 2019 to 2024. The major growth drivers for this market are rapid growth in the organized retail sector, increasing demand for packaged food and beverages, rise in international food trade, and varying food consumption patterns to boost the sales of commercial refrigeration equipment.

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Commercial refrigeration equipment are used for preserving food such as vegetables, fruits, meat, and other similar products by maintaining a certain temperature limit and increasing the shelf life of the product. In this market, transport refrigeration equipment, refrigerators and freezers, beverage refrigeration, refrigerated display cases, and refrigerated vending machine are the major product types.

Fluorocarbons, hydrocarbons, and inorganics are the major refrigerant types of the commercial refrigeration equipment market.

Asia Pacific is the largest market over the forecast period due to growing food service sector and the biggest food and beverage product industry in the region.

Daikin, Whirlpool, Danfoss, United, Dover, Illinois, Hussmann, Ingersoll Rand, Haier, Metalfrio, Beverage-Air, and Electrolux are among the major manufacturers of commercial refrigeration equipment.

Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the commercial refrigeration equipment market by product, application, sales channel, and region. Lucintel has prepared a comprehensive research report titled "Commercial Refrigeration Equipment Market 2019-2024: Trends, Forecast, and Opportunity Analysis". This Lucintel report serves as a catalyst for growth strategy as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the commercial refrigeration equipment market by product, application, refrigerant type, and region as follows:

By Product [$M shipment analysis for 2013 – 2024]:

  • Transport Refrigeration

  • Refrigerators and Freezers

  • Beverage Refrigeration

  • Refrigerated Display Cases

  • Refrigerated Vending Machine

  • Other

 By Application [$M shipment analysis for 2013 – 2024]:

  • Food Service

  • Food and Beverage Retail

  • Food and Beverage Distribution

  • Food and Beverage Production

  • Other

By Refrigerant Type [$M shipment analysis for 2013 – 2024]:

  • Fluorocarbons

  • Hydrocarbons

  • Inorganics

By Region [$M shipment analysis for 2013 – 2024]:

  • North America

    • United States

    • Canada

    • Mexico

  • Europe

    • United Kingdom

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • Japan

    • India

  • ROW

    • Brazil

This 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link or

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