Commercial Refrigeration Market to Reach $41.5 Billion by 2022
Reach-in and walk-in systems accounted for the largest revenue share and they are expected to see promising growth
SAN JOSE, Calif. — The global commercial refrigeration equipment market is forecast to reach $41.5 billion by 2022, with increasing demand for frozen foods and changing food consumption habits, according to a new market report published by Credence Research Inc.
The market for commercial refrigeration equipment is also expected to increase with the growing food service and cold chain industry in major countries across the world. Additionally, stringent energy consumption regulations are forcing retailers to replace their outdated refrigeration equipment with energy efficient solutions, creating significant demand in the replacement market. High initial investment cost is the primary factor limiting the growth of these products, particularly in price sensitive markets.