Development of Organized Retail Driving Commercial Refrigeration Equipment Market Globally

In 2017, the global commercial refrigeration equipment market generated $41,396.7 million and is expected to register 6.2% CAGR during the forecast period (2018–2023). The market is growing due to the rising demand for ready-to-eat products and beverages and development of organized retail.

There has been a major transformation in the refrigeration technology in the past few years, as manufacturers have shifted from fluorinated gases (F-gases) to natural refrigerants. Geographically, developed countries in Europe and North America are on the verge of completely eliminating the use of F-gases from their commercial refrigeration equipment.

For instance, a key player in the commercial refrigeration equipment market, Carrier Corporation, changed the technology of its MiniCO2OL commercial refrigerator series quite early by replacing F-gases with natural refrigerants, such as carbon dioxide.

The manufacturing cost of MiniCO2OL refrigerators is quite low, compared to similar F-gas-based equipment. The cost-efficiency factor of such natural refrigerant-based equipment is increasing their demand among small and medium-scale food retailers.

On the other side, developing countries in Asia-Pacific (APAC) have not yet phased out F-gases, because manufacturers here are yet to get their hands on advanced technology for F-gas elimination. But, considering the CAGR forecasted in the region (9.3% in terms of revenue), it is being assumed that manufacturers will be able to acquire the technology and do away with F-gases.

To request a sample copy visit : http://bit.ly/2DrlGPU

Therefore, due to the demand for such efficient and technologically advanced commercial refrigerators, the growth opportunities for commercial refrigeration equipment market players are predicted to increase.