Commercial Refrigeration Equipment Market Outlook By Size, Demand Status Of Type, Applications And Future Forecast

In recent years, India, China, and Brazil have witnessed substantial growth in their organized food retail sector, due to the rapid urbanization in these countries. For instance, the urban population of India is estimated to reach around 1.4 billion by the end of 2023; and in China, it is expected to reach over 1.4 billion by 2025. This will accelerate the commercial refrigeration equipment market at a CAGR of 3.0% during 2020–2030. The market stood at $24.6 billion in 2019 and it is projected to reach $33.9 billion by 2030.

These distribution channels offer walk-in coolers, display showcases, ice merchandisers & ice vending equipment, and beverage refrigeration equipment for the customers. Among these products, walk-in coolers were the most widely adopted commercial refrigeration equipment, globally. Whereas, in the coming years, beverage refrigeration equipment will be adopted at the highest pace, due to the soaring consumption of beverages, worldwide.



Get the Sample Copy of this Report at: https://www.psmarketresearch.com/market-analysis/commercial-refrigeration-equipment-market/report-sample

Besides, the rising need to impede corrosion and enhance the aesthetics will also boost the requirement for such equipment during the forecast period. According to P&S Intelligence, Asia-Pacific (APAC) led the commercial refrigeration equipment market in the past and the regional market will register the fastest growth in the coming years. This is due to the rising population and escalating disposable income in the region.

Moreover, the presence of the largest number of developing countries in APAC is also resulting in the largescale adoption of commercial refrigeration equipment. Additionally, the increasing number of restaurants, owing to the rising preference of people for eating out, will also boost the installation of such equipment during the forecast period.

Thus, the changing food habits and the bolstering organized food retail sector, especially in developing countries, will amplify the deployment of commercial refrigeration equipment in the coming years.

Comments

Post a Comment

Popular posts from this blog

Increasing Penetration of Cloud Services Fueling AI-Powered Storage Market Growth

Image
The artificial intelligence (AI)-powered storage market growth thrives on the increasing adoption of data analytics to improve decision-making capabilities, burgeoning demand for AI in high-performance-computing data centers, mounting number of connected devices, surging use of cloud-enabled services by businesses to store their data on virtual servers, and soaring volume of data. Moreover, the rising number of government regulations and compliance rules related to data storage and protection will also facilitate the market growth in the foreseeable future. The surging adoption of cloud-based applications and services and rising number of connected devices are supporting the AI-powered storage market growth globally. Get the Sample Copy of this Report @  https://www.psmarketresearch.com/market-analysis/ai-powered-storage-market/report-sample The usage of AI-powered storage systems for high-performance computing assists businesses in working with and unifying high volumes of unstru...
Read more

Micro Battery Market Assessment Covering Growth Factors and Upcoming Trends

Image
Due to the mushrooming use of wearable devices, increasing adoption of the internet of things (IoT) in medical instruments, and surging utilization of compact batteries in the healthcare sector, the global micro battery market is expected to demonstrate a CAGR of 18.4% from 2019 to 2024. According to the estimates of the market research company, P&S Intelligence, the revenue of the market will surge from $418.2 million in 2018 to $1.1 billion by 2024. With the rising prevalence of chronic diseases, such as diabetes and cancer and the surging population of geriatric people, the incorporation of advanced technologies and solutions in the healthcare sector is rising sharply. For instance, as per the World Health Organization (WHO), 422 million people all over the world are diagnosed with diabetes every year. Furthermore, the organization found that the disease claims the lives of 1.6 million people across the world every year.  Besides the aforementioned factor, the growing use of...
Read more

Increasing Focus on Energy Conservation Fueling Popularity of Ambient Lighting

Image
The growing public awareness about environmental degradation and the importance of energy conservation has made the governments of many countries implement strict policies pertaining to the energy efficiency of lights. These policies are aimed at increasing energy and cost savings in several sectors.  Such energy codes for residential and commercial buildings are predicted to mitigate CO2 emissions by as much as 841 MMT and save around $126 billion in electricity costs. For instance, the U.S. Department of Energy has recently enacted the U.S. Energy Standard for Buildings, which is a national model code for commercial buildings and a critical parameter for developing various designs and systems.  Get the Sample Copy of this Report at:  https://www.psmarketresearch.com/market-analysis/ambient-lighting-market-report/report-sample China, which is one of the largest users of ambient lighting solutions in the world, has become one of the biggest consumers of power in the world...
Read more