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Commercial Refrigeration Equipment - Increasing Demand for Frozen Food to Drive Market Growth| Technavio

May 14, 2018

Technavio has published a new market research report on the global commercial refrigeration equipment market from 2018-2022. (Graphic: Business Wire)

LONDON--(BUSINESS WIRE)--May 14, 2018-- market research analysts forecast the to grow at a CAGR of over 5% during the period 2018-2022, according to their latest report.

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Technavio has published a new market research report on the global commercial refrigeration equipment market from 2018-2022. (Graphic: Business Wire)

In this report, Technavio highlights the increasing M&A to expand capacity as one of the key emerging trends in the . Players in the market compete on various factors such as price and quality. To increase the market share and revenues, players in the market are merging and acquiring other players that offer commercial refrigeration equipment. The market consists of many players, which include regional and international players. Increasing M&A by companies is expected to drive the global commercial refrigeration equipment market during the forecast period and is acting as a major trend for the market.

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In this report, Technavio analysts highlight the increasing demand for frozen food as a key factor contributing to the growth of the global commercial refrigeration equipment market:

Increasing demand for frozen food

During the forecast period, the demand for frozen food is expected to increase. Factors such as the increasing population, strong demand from emerging economies, and increase in number of working women are contributing towards the demand for frozen food. For example, in 2017, the female labor force in France was 46.96% of the total work force, and it was 45.04% in 2000. Similarly, in 2017, the female labor force in Germany was 46.46% of the total work force, and it was 43.75% in 2000. The rising number of working women will lead to less time spent by these women in kitchens, which will increase the demand for frozen food. These factors will lead to the high demand for frozen food, which will influence the demand for commercial refrigeration equipment such as chest freezers and walk-in coolers.

According to a senior analyst at Technavio for , “In developing countries, factors such as the increase in income levels and the rising impact of western lifestyles drive the acceptance of frozen food products among consumers. Frozen food can be a suitable alternative for healthy and convenient lifestyles when compared with conventional fresh market food. Consumers are increasingly becoming aware of the benefits of frozen foods.”

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Global commercial refrigeration equipment market segmentation

This market research report segments the into the following product types (walk-in coolers, display cases, refrigerators for drink, and ice-making machinery), end-users (retail, restaurants, hotels, and catering units), and key regions (the Americas, APAC, and EMEA).

Of the four major end-users, the retail segment held the largest market share in 2017, accounting for nearly 39% of the market. The market share for this end-user is expected to increase by 2022. The fastest growing end-user is restaurants, which will account for nearly 35% of the total market share by 2022.

APAC was the leading region for the global commercial refrigeration equipment market in 2017, accounting for a market share of nearly 39%. By 2022, APAC is expected to continue dominating the market and register the highest growth rate.

About Technavio

is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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View source version on businesswire.com:https://www.businesswire.com/news/home/20180514005898/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

www.technavio.com

KEYWORD: UNITED KINGDOM EUROPE

INDUSTRY KEYWORD: MANUFACTURING OTHER MANUFACTURING RETAIL FOOD/BEVERAGE

SOURCE: Technavio Research

Copyright Business Wire 2018.

PUB: 05/14/2018 10:53 AM/DISC: 05/14/2018 10:53 AM

http://www.businesswire.com/news/home/20180514005898/en

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