International.
The global commercial refrigeration equipment market is expected to reach $52.52 billion by 2024, according to a new report from Grand View Research.
The growing number of hypermarkets and supermarkets in developing regions has increased the demand for energy-efficient equipment in recent years. Rapid industrialization, rising disposable incomes, and several other demographic changes have led to significant changes in food and beverage consumption in recent years.
Increased capital investment is expected with the increasing emergence of food services in terms of transportation, distribution and production increasing the volume of shipments. The increased use of this kind of equipment in horticulture, processes and seafood is also projected to contribute to industry demand.
Moreover, the increase in international trade in frozen foods in several countries due to changing food consumption trends has led to a considerable increase in the demand for commercial refrigeration equipment.
Advances in compressor protection controls and the introduction of reconfigured kitchen spaces with modular commercial refrigeration units are expected to drive demand for advanced technology. Continuous advances in refrigeration technologies have driven demand for energy-efficient products across the hospitality sector.
