DUBLIN--(BUSINESS WIRE )--The "Global Commercial Refrigeration Equipment Market Size, Trends & Growth Opportunity, By Product Type, By Refrigerant Type, By Application, By Region and Forecast till 2027." report has been added to ResearchAndMarkets.com's offering.

The global commercial refrigeration equipment market was valued at US$ 35,150.30 Mn in 2021, estimated to reach US$ 47,670.30 Mn in 2027, with a CAGR of 5.22% from 2021-2027.

Commercial Refrigeration is defined as the process which of removing excess heat from a source/a material to maintain the temperature lower than its surrounding. Commercial refrigeration equipments are used for preserving food like vegetables, fruits, meat, and other similar products by maintaining a specific temperature to increase the shelf life of a product.

The increase in demand for frozen and processed food worldwide acts as one of the Key factors driving the growth of commercial refrigeration equipment market. Rise in international food trade, and rapid expansion of the tourism and hospitality sector drive the market growth.

Moreover, fast urbanization in developing countries and rising living standards are boosting the demand for processed and packaged food, thereby leading to higher commercial refrigeration equipment sales. Also, increasing demand for vaccine storage units all through the cold supply chain activities to retain the immunization levels.

Stringent regulations against the use of fluorocarbon refrigerants is one of the main restraining factor that hamper the market growth.

The cold storage supply channel is also expected to hamper the growth of the market. Additionally, existence of a limited purification companies is acting as a restraining factor to the growth of the commercial refrigeration equipment market.

Key Questions Addressed by the Report

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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900