The requirement for commercial refrigeration equipment has increased due to the rising consumption of ready-to-eat products. The consumption of such food items is rapidly escalating among the middle class, especially in the Oriental world, owing to the mounting disposable income and surging influence of the Western lifestyle. The changes in eating habits are leading to an increasing number of food and restaurant chains, supermarkets, and hypermarkets, which require commercial refrigeration equipment in abundance.

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Moreover, with the changing food consumption pattern, small grocery stores and unorganized restaurants are also upgrading their infrastructure by deploying large refrigeration equipment. In recent years, India, China, and Brazil have witnessed substantial growth in their organized food retail sector, due to the rapid urbanization in these countries. For instance, the urban population of India is estimated to reach around 1.4 billion by the end of 2023; and in China, it is expected to reach over 1.4 billion by 2025. This will accelerate the commercial refrigeration equipment market at a CAGR of 3.0% during 2020–2030.

The market stood at $24.6 billion in 2019 and it is projected to reach $33.9 billion by 2030. End users, including supermarkets/hypermarkets, convenience stores, departmental stores, offices and buildings, hospitality units, government organizations, and healthcare facilities, can procure commercial refrigeration equipment from specialty stores, online stores, and hypermarkets or supermarkets. In the coming years, the end users are expected to rapidly shift toward online distribution channel, due to the increasing usage of smartphones, growing penetration of the internet, and the booming number of discounts and offers provided by e-commerce platforms.

Moreover, these platforms allow customers to compare a wide range of products by evaluating the specifications of different alternatives. This market research report provides a comprehensive overview of the market

* Future potential of the market through its forecast for the period 2020– 2030
* Major factors driving the market and their impact during the short, medium, and long terms
* Market restraints and their impact during the short, medium, and long terms
* Recent trends and evolving opportunities for the market participants
* Historical and the present size of the market segments and understand their comparative future potential
* Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings