The report noted that a number of alternative refrigerants can be used instead of R- 22, and retrofitting is the least costly option for operators. However, installing new systems is more energy efficient. Certain HFC blends, HFOs, natural refrigerants, and hydrocarbons are among the currently acceptable alternatives and are seeing greater usage.
According to the report, commercial refrigeration equipment sales growth will also be aided by more stringent minimum energy efficiency standards for certain products, most notably reach-in and walk-in refrigerators and freezers. These standards will become effective on all products made after June 2017 and will result in many producers using more expensive materials, which will raise average equipment prices and increase 2020 demand in value terms. Continued growth in food and beverage shipments will also boost overall demand gains.

A separate report by Zion Market Research states that global demand for commercial refrigeration equipment market is expected to generate revenue of $61.44 billion by the end of 2021, growing at a compound annual growth rate (CAGR) of slightly greater than 9 percent between 2016 and 2021.

According to the report, global commercial refrigeration equipment market is primarily driven by the rising number of hypermarkets, specialty food stores, and supermarkets across the globe. Another major driving factor is changing food consumption trends and rising international food trade. However, environmental and energy efficiency regulations and increasing fuel costs are restraints that may limit the growth of the market. Nonetheless, consolidation of warehouses and growth of cold supply chains is likely to disclose the new avenues for commercial refrigeration equipment market in the near future, the report stated.

For more information, visit www.reportbuyer.com.
For more information, visit www.zionmarketresearch.com.

Publication date: 1/3/2017

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