The concept of saving energy in the supermarkets has been acting as a significant factor for innovating commercial refrigeration technology. Moreover, passionate store owners are considering efficiency on a higher priority to invest in commercial refrigeration equipment, especially for either the frozen foods or prepared foods. Besides, businesses are willing to invest in new energy-efficient appliances as they encourage energy savings and supports a healthy financial return as well. Increase in refrigeration necessity at every food-service operation is driving the [FURL=https://www.industryarc.com/PressRelease/1979/Commercial-Refrigeration-Equipment-Market-Research.html]Commercial Refrigeration Equipment Market[/FURL] demand worldwide. Commercial grade refrigerator plays a vital role in a food service establishment as it is useful to store ingredients, leftovers, sauces, and frozen meals.The food-service providers widely accept this equipment as it maintains the food at safe temperatures, thereby offering convenient features such as adjustable shelves, wheels for transport, and LED lighting. This refrigeration equipment is gaining traction from bar, bakery, convenience store, restaurant, and sandwich shop owners because it supports a successful business operation. As a result, the global Commercial Refrigeration Equipment Market size stood at $34.5 billion in 2018 and is projected to grow at a progressive CAGR of 5.9%, over the forecast period 2019-2025.
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Convenience Stores Gaining Traction from Millennial and Online Retailers:
Convenience stores are identified as the fastest-growing application of commercial refrigeration equipment market. It is set to grow at a CAGR of 6.5% through to 2025. This is due to the rise in demand for unique refrigeration essentials such as beverage coolers, beer caves, deli cases, and reach-in displays more in convenience stores compared to hotels & restaurants, supermarkets & hypermarkets and bakeries. Recently, Amazon announced that it is going to grow its line of Amazon Go convenience stores shortly in America. Footsteps of e-commerce retailers towards the convenience stores are fuelling the demand for refrigeration equipment, which in turn results in the growth of the global commercial refrigeration equipment revenue.
Major Players in Commercial Refrigeration Equipment Market Include:
Carnot Refrigeration, Carrier Corporation, Emerson Electric Company, Daikin Industries, Ltd., Hussman Corporation, Bharat Refrigerations Pvt. Ltd., Henry Technologies, Johnson Controls, Evapco, Inc. and The Danfoss Group are some of the primary players which are operating in the global commercial refrigeration equipment market. These companies have been continuously concentrating on acquisitions to strengthen their customer base in respective geographies.
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