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The Market research future delivers a detailed analysis of 10 years forecast between 2015 and 2025 and it is expected that Commercial Refrigeration Equipment market will register the CAGR of more than 5.1% during the forecast period.
Commercial refrigeration equipment refers to those refrigeration equipment’s & designs which are used for commercial retail, storage for hypermarket, large supermarkets, restaurants, convenience store and others. This equipment includes- display case, ice making machineries, walk-in coolers, beverage machines, parts & other equipment (Reach-in coolers, vending machines, liquid-chillers and cryogenic refrigeration).
Global Commercial Refrigeration Equipment market is driven by supermarkets, hypermarkets & other organized food retail chain. Growth of this sector gives boost to the commercial refrigeration equipment market. The commercial refrigeration systems market was expected to be valued at $XX billion in 2015, and it is expected the y-o-y growth rate of XX% to reach $XX billion by 2016. As per the analysis, the US market has expected to grow at a CAGR of XX% during the forecast period of 2015 to 2025
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America has witnessed a prospective growth in the last few years because of the huge retail sector across all the countries and is leader. Followed by Americas, Europe is considered to be the 2nd largest market. Asia-Pacific is one of fastest growing economy where the product has seen a superior opportunity to grow. Increasing urbanization in developing countries such as China and India, there is huge development of organized retail sector in respect to commercial refrigeration equipment market.
Also the demand for ready to eat product has increased through with the demand for the product has increased. The demand of commercial refrigeration systems has increased in various places such as hypermarket, supermarket, grocery stores and restaurant chain along with increasing of food consumption in the emerging economies has become the major growth prospects for commercial refrigeration systems market. Apart from this the distribution channel has also become one of the major growing reasons.