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Commercial Refrigeration Equipment Market

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Commercial Refrigeration Equipment Market : Growing Popularity of Frozen Food Driving
Demand
The analysts of a recent business intelligence study by Transparency Market Research (TMR)
has detected that the commercial refrigeration equipment market in the region of Latin
America is consolidated in nature, with merely six companies accounting for about 92% of the
total shares in 2016. The six companies, viz. Metalfrio Solutions, Illinois Tool Works, United
Technologies Corp., Dover Corp., Daikin Industries Ltd., and Lennox International, are expected
to maintain their stronghold over the competitive landscape in the near future too, while the
competition among them will remain intense at the same time. For these six market leaders in
the Latin America commercial refrigeration equipment market, the emphasis is expected to
remain on strengthening of their supply chain, particularly in the important countries of
Mexico, Brazil, and Argentina. Development and launches of new products that meet diverse
demands is another mode for the market leaders to gain ground over their competitors.
Latin America Commercial Refrigeration Equipment Market to be worth US$1,619.0 mn by
2025
If the projections of the TMR report are to be believed, during the forecast period of 2017 to
2025, the demand in the Latin America commercial refrigeration equipment market will
increment at a notable CAGR of 6.50%. By the end of the forecast period, 2025, the analysts
have estimated that the opportunities in the market will translate into a revenue of US$1,619.0
mn, considerably up from its evaluated worth of US$927.4 mn in 2016. As far as the new
entrants are concerned, the entry barrier is expected to remain high in the near future and
shares will remain distributed among the aforementioned six market leaders.
Based on product type, the report segments the Latin America commercial refrigeration
equipment market into refrigerator and freezer, transportation refrigeration equipment,
commercial refrigeration equipment parts, and beverage refrigeration. In 2016, the refrigerator
and freezer segment provided for 37.4% of the demand in 2016 and is anticipated to remain
most prominent throughout the forecast period. Application-wise, the market has been
bifurcated into food and beverage retail, food services, food and beverage production, and
food and beverage distribution. On the basis of refrigerant type, the market has been classified
into inorganic, fluorocarbon, and hydrocarbon or natural. Country-wise, Brazil has been
highlighted as the most profitable nation for the vendors of this market to concentrate on,
providing for 38% of the total demand in the Latin America commercial refrigeration equipment
market in 2016.
Browse the full report
at https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1409
Rapid Urbanization a Boon for Commercial Refrigeration Equipment Market
Changing food consumption pattern of urban populations across the emerging economies of
Brazil, Argentina, and Mexico is the primary driver of the Latin America commercial
refrigeration equipment market. The restless lifestyle that urban population are resorting to in
order to gain disposable income is showing on increased consumption of packaged food that
utilize refrigeration processes to maintain freshness and nutrition for longer durations. While
the prosperity of the food and beverage industry is propelling the demand in the commercial
refrigeration equipment market, development of diverse type of equipment that ideally meet
different requirements is driving the adoption, despite the substantial cost of these products.
In many cases, food and beverage companies provide these refrigeration equipment to retail
shop vendors as the space occupied helps them as a mode of advertising and market of
products right where the customer footfall is maximum. These advertising companies generate
bulk demand. Mexico commercial refrigeration market, in particular, is foreseen for a healthy
future on the back of incrementing demand for frozen and ready-to-eat food as well as the
presence of a formidable food processing industry in the country.
Author
monali raghu
monali raghu327   documents Email
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