DUBLIN--(BUSINESS WIRE )--The "Commercial Refrigeration Equipment Market by product Type, Refrigerant Type (Fluorocarbons, Hydrocarbons, Inorganics), Application (Hotels & Restaurants, Supermarkets & Hypermarkets), and Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global commercial refrigeration equipment market is estimated to be USD 32.0 billion in 2021 and is projected to reach USD 43.3 billion by 2026, at a CAGR of 6.2%, from 2021 to 2026.
The growth of the market can be attributed to the improving consumer lifestyles and flourishing food and healthcare industries, growing cold chain market, and increasing use of advanced technologies, for instance, magnetic refrigeration. Stringent regulations for the use of fluorocarbon refrigerants is a restraint in the market.
The supermarkets & hypermarkets segment is expected to be the fastest-growing application segment of the commercial refrigeration equipment market during the forecast period
The supermarkets & hypermarkets application segment is projected to be the fastest-growing segment of the commercial refrigeration equipment market from 2021 to 2026. Supermarkets and hypermarkets cannot survive without the commercial refrigeration equipment. It is a necessity of new generation grocery stores to constantly look for and adopt advanced and more efficient commercial refrigeration equipment systems.
The refrigerated display cases segment is expected to be the fastest-growing product type segment of the commercial refrigeration equipment market during the forecast period
The refrigerated display cases application segment is projected to be the fastest-growing end-use industry of the commercial refrigeration equipment market from 2021 to 2026. Refrigerated display cases are commercial refrigeration equipment used for storing food & beverages at retail outlets, such as bakeries, dairy stores, grocery stores, wine shops, convenience stores, supermarkets, and food service providers, such as hotels, restaurants, and bars.
Asia Pacific is estimated to account for the largest market share of the commercial refrigeration equipment market in 2021.
The growth of the commercial refrigeration equipment market in the Asia Pacific region is fueled by growth in the manufacturing sector; increase in spending on private & public infrastructure development; and rapid urbanization.
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900