DUBLIN, Dec 2, 2016 /PRNewswire/ --
Research and Markets has announced the addition of the "Global Commercial Refrigeration Market 2016-2020" report to their offering.
The global commercial refrigeration market to grow at a CAGR of 5.53% during the period 2016-2020.
The report covers the present scenario and the growth prospects of the global commercial refrigeration market for 2016-2020. The report also includes a discussion of the key vendors operating in this market.
The penetration of e-commerce is increasing in emerging economies, which is expected to boost the sales and growth of commercial refrigerators in these regions. E-commerce is well suited for stocking and offering more product selections. The e-commerce sector has the highest growth potential in APAC and the Middle East and Africa. The emerging markets will be the key segments of the growing e-groceries sector. This will increase the demand for warehouses and cold storages. The growth of cold storages due to the development of e-commerce and e-groceries will boost the commercial refrigeration market in emerging markets. Retailers in India, are launching online groceries services, as half a billion Indians are smartphone users. The development of the online e-commerce is caused by the growing consumer preference for online shopping over supermarkets and the hypermarkets.
According to the report, one-third of the total food production in the world is perishable, which decays over time in the absence of proper refrigeration. Every year, about 30% of the overall food production gets wasted in developing regions such as APAC and Africa. Africa has the highest rate of the food wastage with 45%-48% of the food wasted due to the absence of refrigerators every year. Increasing the penetration of refrigeration equipment in the region can help preserve perishable food items and reduce food wastage. The storage potential of a perishable food item decreases with the rise in temperature.
Further, the report states that the most common raw materials used in the manufacturing of commercial refrigeration equipment include aluminum, copper, and steel. These materials have volatile prices that affect manufacturers as well as the end-user segments. The expanding demand-supply gap in the last few years has led to the increase in the cost of the raw materials.
Other prominent vendors
- Emerson Electric
- Imbera Foodservice
- Johnson Controls
- Williams Refrigeration
Key Topics Covered:
Part 01: Executive summary
Part 02: Scope of the report
Part 03: Market research methodology
Part 04: Introduction
Part 05: Global refrigeration market
Part 06: Market segmentation by product
Part 07: Geographical segmentation
Part 08: Market drivers
Part 09: Impact of drivers
Part 10: Market challenges
Part 11: Impact of drivers and challenges
Part 12: Market trends
Part 13: Vendor landscape
Part 14: Appendix
For more information about this report visit http://www.researchandmarkets.com/research/qx8lm7/global_commercial
Research and Markets
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SOURCE Research and Markets