Commercial Refrigeration Equipment Market
The global commercial refrigeration equipment market features a highly competitive landscape, Transparency Market Research (TMR) estimates. Some of the prominent players including Whirlpool Corporation, Ltd., Beverage-Air Corporation, Haier, Inc., United Technologies Corporation, Dover Corporation, and Ingersoll Rand Plc are dominating in the global commercial refrigeration equipment market. Numerous companies are expanding their product portfolio by adopting the strategies of the product differentiation and expansion of businesses globally. Additionally, these players are heavily investing in the research & development (R&D) activities, which are leveraging the key players.
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TMR’s report based on the global commercial refrigeration equipment market estimated the massive growth with a striking CAGR of 9.1% over the forecast period from 2015 to 2022. With the vigorous CAGR, the market is expected to attain a value of US$66.88 bn by the end of 2022 from a value of US$39.44 bn in 2016.
On the basis of product type, the transportation refrigeration equipment segment accounted for the leading share and is estimated to retain its dominance in the overall market in the coming years. This growth is attributable to the growing demand for the effective transportation by maintaining specific temperature is driving growth of the segment in the market. Geographically, Asia Pacific held a leading position in the global commercial refrigeration equipment market owing to the boom in the packages and processed food industry in the region.
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About Transparency Market Research
Transparency Market Research registered at Wilmington, Delaware, United States, is a global market research firm that offers Market Analysis Reports and business consulting. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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