Global Commercial Refrigeration Equipment Market: forecast and analysis (2019-2026) by Product, Refrigerant, Application and Region. Global Commercial Refrigeration Equipment Market was valued at USD xx million in 2019 and is expected to reach at USD xx million by 2026 at a CAGR of xx% over forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Global Commercial Refrigeration Equipment Market Drivers and Restrains
The global commercial refrigeration market is primarily driven by the significant increase in the number of supermarkets, hypermarket, and organized retail chains that have opened around the globe. Commercial refrigeration is expected to witness significant growth on account of increasing consumption of frozen and processed foods. Increasing demand for frozen food, bakery products, and packaged food products is driving the demand for commercial refrigeration equipment. Moreover, in an effort to decrease carbon footprints, the manufacturers are focusing on developing commercial refrigeration equipment that consumes less or limited amount of energy. However, need for frequent maintenance and potential technical issues arising due to lack of proper maintenance act as a major restraint for the market.