ALBANY, N.Y. - The global commercial refrigeration equipment market accounted for $29.1 billion in 2012 and is expected to reach $46.6 billion in 2018, according to a new market report published by Transparency Market Research.
In the overall global market, Asia Pacific leads the
commercial refrigeration equipment market in terms of revenue with 34.1 percent
market share, followed by North America.
According to the report, the commercial refrigeration
equipment market is driven by various factors including continuous evolving
technology, changing food consumption trends, rising international food trade,
emergence of supermarkets and fast food chains, rise in horticulture, and
seafood and processed food exports across the globe. However, some of the key
restraints for the commercial refrigeration equipment market include less
energy-efficient commercial refrigeration equipment, the Montreal and Kyoto
protocol, and increasing fuel cost.
Currently, the transportation refrigeration segment retains
the maximum share of 18.8 percent with revenue of $5.4 billion owing to the
rise in international food trade across the globe. The transportation
refrigeration segment is expected to attain revenue of $10.2 billion in 2018.
The transportation refrigeration segment is followed by refrigerators and
freezers segment, which is estimated to be $5.1 billion in
In the overall application market, the food service sector
currently retains the maximum share of 32 percent with revenue of $9.3 billion,
which is estimated to reach $6.1 billion in 2018. The food, beverage, and
distribution application market is estimated to attain revenue of $10.2 billion
Commercial Refrigeration Market Growing
January 14, 2013