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Posted by jack452 on April 24, 2024 at 8:07pm 0 Comments 0 Likes
The global Commercial Refrigeration Equipment Market is forecast to reach USD 53.23 Billion by 2026, according to a new report by Reports and Data. Refrigeration is the process in which excess heat is removed from any source or material to maintain the temperature lower than its surroundings.
Commercial refrigeration equipment finds its application in preserving food such as fruits, vegetables, meat, and other goods by maintaining very low temperature and enhancing the shelf life of the good. Energy-efficient and sustainable technology equipment is replacing the existing equipment. Some refrigerant equipment is designed to reduce the temperature of the heated food in a short period to eliminate the issue of bacterial proliferation.
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The growing demand for frozen products among the consumers has increased owing to the rapid urbanization and changing lifestyle. Rapid growth in the number of hypermarkets and supermarkets boosts the overall sales of commercial refrigerators; thus propelling the growth of the market. However, the high cost of installation associated with commercial refrigerators and reduction in the replacement rates for commercial refrigeration equipment is anticipated to hamper the market growth. Advancements in technology and rise in the number of quick-service restaurants are expected to provide lucrative opportunity for market growth.
The Clean Air Act in the U.S. states that all Chlorofluorocarbon (CFC) and hydrochlorofluorocarbon (HCFC) refrigerants must be recovered, recycled, and reclaimed during servicing and repairs. The impact of these refrigerant types on the environment is a cause of serious concern and governments across the globe are taking initiatives to limit their application.
Further key findings from the report suggest
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For the purpose of this report, Reports and Data have segmented into the global Commercial Refrigeration Equipment market on the basis of product type, refrigerant type, application, and region:
Product Type Outlook (Volume: Kilo Tons; Revenue: USD Billion; 2016-2026)
Refrigerant Type Outlook (Volume: Kilo Tons; Revenue: USD Billion; 2016-2026)
Application Industry Outlook (Volume: Kilo Tons; Revenue: USD Billion; 2016-2026)
Regional Outlook (Volume: Kilo Tons; Revenue: USD Billion; 2016-2026)
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Key Question the Report Will Answer
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