Commercial Refrigeration Compressors Market is expected to reach over CAGR of 5.9% during 2021: Radiant Insights, Inc

Commercial refrigeration equipment is refrigerators with remote or self-contained condensing units. These refrigerators re designed especially for commercial use with a wide range of temperature control (typically from -18°C to +10°C). Commercial refrigerators are largely used for food and beverage storage and merchandising purposes. Commercial refrigeration compressor is expected to witness strong demand globally, especially due to growing frozen and processed food consumption.

Over the past few years, there has been a significant increase in number of retail stores across the globe. Major players in the retail sector are expanding their footprint in emerging markets of Asia Pacific especially in India and China in order to capitalize on growing consumer spending power in these countries. Rapid growth of the organized retail sector characterized by a rising number of hypermarkets, supermarkets etc. is expected to boost growth of the overall food & beverage value chain, which in turn is expected to boost overall sales of commercial refrigerators and freezers during the forecast period.

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A growing demand for chilled and frozen products is also likely to boost growth of the global commercial refrigeration compressors market during the forecast period. The global commercial refrigeration compressors market is segmented by product type, application and geography. On the basis of product type, the global commercial refrigeration compressors market is segmented into transportation refrigeration, refrigerator and freezer, beverage refrigeration equipment, refrigerated display cases, ice machine, refrigerated vending machine and so on.

The “transportation refrigeration” product type segment is estimated to register the highest CAGR of 5.9% during the forecast period while the “refrigerator and freezer” segment is expected to account for a value share of 30.8% by the end of 2016. On the basis of application, the global commercial refrigeration compressors market is segmented into air conditioning, logistics and transportation, food preservation, sports and so on.

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On the basis of geography, the global commercial refrigeration compressors market is segmented into North America, Asia Pacific, Europe, Latin America and Middle East & Africa. North America is anticipated to be most attractive region in the global commercial refrigeration compressor market with an estimated market share of 29.5% in the coming years. The commercial refrigeration compressor market in China is expected to outperform the other regions in terms of CAGR over the forecast period.

A large part of the Asia Pacific region is an emerging market for commercial refrigeration equipment and this region is estimated to account for a market value share of 19.4% during the forecast period. Asia Pacific is anticipated to witness a robust CAGR of 5.3% during the forecast period.

The key players of global commercial refrigeration compressors market are Bitzer, Dorin, GEA Bock, Sanyo/ Panasonic, Frascold, Copeland/ Emerson, Carlyle/ UTC Climate, GMCC, Tecumseh, Hitachi, Kirloskar, Mayekawa, Kulthorn Kirby, LG, TECO, Snowkey, Mitsubishi, Xueying, Xuemei, Beifeng, Jingwei, Daming, Vock, Qier, Yantai Moon, Aspencompressor, Carlyle compressor, Bristolcompressor, Fxmultitech, Hangzhou Qianjiang Compressor, Huayi Compressor, Jiangsu Baixue Electric Appliances, Landa, Samsung, Shanghai Hitachi Electrical Appliances, Sichuan Danfu Compressor and Xi’an Qingan Refrigeration Equipment.

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