The report "Commercial Refrigeration Equipment Market by Product Type, Refrigerant Type (Fluorocarbons, Hydrocarbons, Inorganics) Application (Hotels & Restaurants, Supermarkets & Hypermarkets), and Region (Europe, APAC, North America) - Global Forecast to 2023", The global commercial refrigeration equipment market is projected to grow from USD 33.58 billion in 2018 to USD 45.45 billion by 2023, at a CAGR of 6.2% from 2018 to 2023. Improving consumer lifestyles and flourishing food and healthcare industries, growing cold chain market, and increasing use of advanced technologies, for instance, magnetic refrigeration, are opportunities for the growth of the commercial refrigeration equipment market.

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Browse 99 market data Tables and 32 Figures spread through 159 Pages and in-depth TOC on "Commercial Refrigeration Equipment Market”

The hotels and restaurants segment is projected to be the largest application segment of the commercial refrigeration equipment market from 2018 to 2023. The advanced commercial refrigerators provide for practical designs to capture the attention of customers at any such point of sale.

The fluorocarbons segment is estimated to be the largest refrigerant type segment of the commercial refrigeration equipment market in 2018. Fluorocarbons are chemical compounds comprising carbon, hydrogen, chlorine, and fluorine as their major constituents. However, not all fluorocarbons may consist of both chlorine and fluorine atoms. The applications of these refrigerants are in refrigerators (domestic, transport, and commercial) and large-scale refrigerators (supermarket/ hypermarket). Fluorocarbons are further sub-divided into three types – HFCs, HCFCs, and HFOs.

The Asia Pacific is expected to be the largest market of commercial refrigeration equipment during the forecast period. The increasing population in the region, improving economic conditions, such as rising GDP & disposable incomes, and a booming consumer appliances sector have led to growth in the commercial refrigeration equipment in the region. In addition, the growth of the commercial refrigeration equipment market in this region is fueled by growth in the manufacturing sector; increase in spending on private & public infrastructure development; and rapid urbanization.

 Key players operating in the commercial refrigeration equipment market include Carrier Corporation (US), Emerson Electric Company (US), Daikin Industries, Ltd. (Japan), and GEA Group AG (Germany).. These companies focus on enhancing their product portfolios to grow in the commercial refrigeration equipment market.

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