Product ID: SQMIG20N2020
Global Commercial Refrigeration Market Size, Share, Growth Analysis, By Product(refrigerators & freezers, transportation refrigeration equipment), By Application(food service, food & beverage retail) - Industry Forecast 2024-2031
Report ID:
SQMIG20N2020 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
64 |
Figures:
75
Global Commercial Refrigeration Market Dynamics
Commercial Refrigeration Market Drivers
Growing Food and Beverage Industry
- The rise in disposable incomes and changing consumer lifestyles have led to an increased demand for processed and convenience foods, which require efficient cold storage and refrigeration solutions. The expanding food and beverage industry, especially in emerging economies, is driving the demand for commercial refrigeration equipment. For example, the growth of quick-service restaurants and supermarkets in countries like India and China is fueling the need for commercial refrigerators and freezers to preserve perishable goods.
Commercial Refrigeration Market Restraints
Environmental Concerns and Regulations
- The use of certain refrigerants, such as hydrofluorocarbons (HFCs), in commercial refrigeration systems has been linked to harmful effects on the environment, contributing to climate change and ozone depletion. In response to environmental concerns, many countries have started implementing regulations to phase out HFCs and encourage the adoption of eco-friendly refrigerants like hydrocarbons or natural refrigerants. However, transitioning to these alternatives can be a challenge for some businesses due to the need for equipment modifications and potentially higher costs.
Global Commercial Refrigeration Market Report Snapshots
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