[159 Pages Report] The Global Commercial Refrigeration Equipment Market was valued at USD 31.50 billion in 2017 and is projected to reach USD 45.45 billion by 2023, at a CAGR of 6.2%, during the forecast period.

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In terms of product type, the transportation refrigeration segment, is estimated to account for the largest share of the commercial refrigeration equipment market in 2018. The commercial refrigeration equipment for refrigerated transport is one of the essential links in the cold chain system for the distribution of food commodities, such as bakery & confectionery products, dairy products, beverages, fresh fruits & vegetables, ice creams, frozen dairy products, processed meat, and fish & seafood products.

In terms of application, the hotels and restaurants segment is estimated to be the largest segment of the commercial refrigeration equipment market in 2018. Various commercial refrigeration equipment (CRE) such as display cases, refrigerated vending machines, among others, are being used as selling points in hotel lobbies and act as micro markets. High consumption of FMCG products including ready-to-eat salads and sandwiches and beverages, among others, are sold using CRE products to help improve customer service and engagement.

Key players in the commercial refrigeration equipment market include Carrier Corporation (US), Emerson Electric Company (US), Daikin Industries, Ltd. (Japan), and GEA Group AG (Germany).

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