Commercial Refrigeration Equipment Market To Reach USD 65.2 Billion By 2032, At A CAGR Of 5.3%

According to Market.us, the Global Commercial Refrigeration Equipment Market size is projected to surpass around USD 65.2 billion by 2032 and it is poised to reach at a registered CAGR of 5.3% from 2023 to 2032, due to Rise in the demand for Smart and Automated Refrigeration.

New York, March 08, 2023 (GLOBE NEWSWIRE) -- The Global Commercial Refrigeration Equipment Market size is projected to reach a valuation of USD 65.2 billion by 2032 at a CAGR of 5.3%, from USD 39.4 billion in 2022. Market growth will be driven by the increased preference for take-out food and rapid expansion of the market by consumers over the forecast period. Market growth will be supported by technological advances and increasing regulatory pressures. The market for commercial refrigeration equipment is driven by the increasing demand for refrigeration in grocery shops, increased imports, and growth in the food & beverage sector, as well as an increase in the number of restaurants & hotels in the region.

Key Takeaway:

*By Products, 2022, the Refrigerators & Freezers segment has generated the highest revenue in the Global Commercial Refrigeration Equipment Market share in 2022.
*By Application, the Food & Beverages Retail segment is dominating the market and it is growing at a significant rate over the forecast period 2023 to 2032.
*In 2022, North America Region dominated the market with the highest revenue share of 31%.
*APAC Region has held the second position in revenue share in 2022.
*Europe will grow at a significant rate from 2023-2032.