Commercial Refrigeration Compressors Market Key Players, Applications and Challenges to Know by 2021

The global commercial refrigeration compressor market, by geography, is segmented into North America, Asia Pacific, Europe, Latin America and Middle East & Africa. 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.

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The last few years have witnessed a marked increase in the number of retail stores across the globe. The key players dealing with the retail sector are spreading their wings in the emerging economies of Asia Pacific; especially in China and India for capitalizing on growing consumer spending power in these economies. Brisk growth of the organized retail sector characterized by an ever-increasing number of hypermarkets, supermarkets, etc. is expected to boost the growth of the overall “food & beverage” value chain, which, in turn, is expected to boost overall sales of commercial refrigerators and freezers in the years to come.

The growing demand for frozen and chilled products is also likely to give impetus to the commercial refrigeration compressors market during the forecast period. The commercial refrigeration compressor market is segmented by product type, application, and geography. Based on product type, the commercial refrigeration compressors market is segmented into refrigerator and freezer, transportation refrigeration, ice machine, beverage refrigeration equipment, refrigerated vending machine, refrigerated display cases, and so on. The “transportation refrigeration” product type segment is estimated to account for the highest CAGR during the forecast period while the “refrigerator and freezer” segment did account for maximum value share in 2016. Based on application, the commercial refrigeration compressors market is segmented into air conditioning, logistics and transportation, food preservation, sports and so on.

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North America is expected to be the most attractive region in the commercial refrigeration compressor market in the upcoming years. The commercial refrigeration compressor market in China is expected to outperform its counterparts in terms of CAGR in the forecast period. A large part of the Asia Pacific is an emerging market for commercial refrigeration compressors and this region is estimated to grow at the highest CAGR in the forecast period. The key players of commercial refrigeration compressor 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.