The report "Commercial Refrigeration Equipment Market by product Type, Refrigerant Type (Fluorocarbons, Hydrocarbons, Inorganics), Application (Hotels & Restaurants, Supermarkets & Hypermarkets), and Region - Global Forecast to 2026" 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. Improving consumer lifestyles and flourishing food and healthcare industries, growing cold chain market, and increasing use of advanced technologies, for instance, magnetic refrigeration, are opportunities for the growth of the commercial refrigeration equipment market.

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Browse 259 market data Tables and 39 Figures spread through 254 Pages and in-depth TOC on "Commercial Refrigeration Equipment Market”

COVID-19 Impact on the global commercial refrigeration equipments market

The pandemic is estimated to have an impact on various factors of the value chain of the commercial refrigeration equipments market, which is expected to reflect during the forecast period, especially in the year 2020. The impact of COVID-19 is as follows:

COVID-19 had a significant economic impact on various financial as well as industrial sectors, such as travel & tourism, manufacturing, construction, and aviation. The end-use sectors of commercial refrigeration equipment, such as hotels & restaurants, supermarkets & hypermarkets, convenience store, and bakeries have been impacted. Hotels & restaurants and bakeries was one of the severely impacted sectors due to strict lockdowns and curfew in most countries to prevent the spread of coronavirus.

The supermarkets & hypermarkets segment is estimated to be the largest segment of the commercial refrigeration equipment market, based on application, in 2021.

In terms of application, the supermarkets & hypermarkets segment is estimated to be the largest segment of the commercial refrigeration equipment market in 2021. Various commercial refrigeration equipment (CRE) such as display cases, refrigerated vending machines, among others, are being used as selling points in supermarkets & hypermarkets. High consumption of FMCG products including ready-to-eat salads and sandwiches and beverages, among others, are sold using CRE products to help improve customer service and engagement.

Asia Pacific is expected to be the largest market for commercial refrigeration equipment during the forecast period.

Asia Pacific is the largest market for commercial refrigeration equipment, globally. The region consists of key revenue-generating countries, such as India and China. These countries have a large consumer base and lucrative opportunities for chilled and frozen food products. In addition, development in the automotive industry of these countries is expected to boost the growth of the refrigerated transport market in the region.

Key players in the commercial refrigeration equipment market include Carrier (US), Emerson Electric Company (US), Daikin (Japan), Danfoss (Denmark), and GEA Group (Germany).

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