LATAM commercial refrigeration equipment market

1. 2022 Why Are Biggest LATAM Commercial Refrigeration Equipment Market Trends?

2. Due to the growth in the food and beverage industry, because of the rising demand for ready-to-eat products and surging export of frozen foods, and recovery in the hospitality sector in Latin America (LATAM), the demand for refrigeration equipment is rising here for commercial purposes. As a result, the LATAM commercial refrigeration equipment market value, which stood at $1,766.0 million in 2017, is expected to witness a 4.5% CAGR during 2018–2023 (forecast period), to reach $2,295.4 million by 2023. Walk-in coolers, transportation refrigeration equipment, display cases, beverage refrigeration, parts, and ice making machinery are the categories under the equipment type segment. During the historical period (2013–2017), the walk-in coolers category held the largest share due to the increasing demand for such systems in the regional food and beverage sector. The fastest growth in the LATAM commercial refrigeration equipment market will be experienced by the ice making machinery category during the forecast period owing to the rising demand for such equipment from grocery stores for poultry, meat, and fish preservation. Request for sample copy of this report:https://www.psmarketresearch.com/market-analysis/latin-america-commercial-refrigeration-equipment-market/report-sample On the basis of end user, the market divisions are supermarkets, hypermarkets, e-commerce, hotels/restaurants & catering, convenience stores, and others, which includes hospitals, large pharmaceutical stores, educational institutions, and medical and life sciences. Among these, supermarkets dominated the market in 2017 because of the rising sales of food products through these stores, the numbers of which are themselves increasing in the region. During the forecast period, e-commerce is expected to have the highest CAGR owing to the shift in the preference of people to buy ready-to-eat and frozen foods online.

3. The biggest LATAM commercial refrigeration equipment market trend is natural refrigerants. With the coming into force of the F-gas regulations and signing of the Montreal Protocol, countries are shifting from gases containing fluorine to natural refrigerants, as the latter lead to less ozone depletion. As a result, the usage of propane (R290) is increasing in built-in systems and smaller pieces of equipment. Similarly, carbon dioxide (CO2) is becoming a popular refrigerant for remote cooling systems and engine rooms, especially systems with semi-hermetic compressors. Among the strongest drivers for the LATAM commercial refrigeration equipment market is the surging demand for beverages, frozen foods, and ready-to-eat products. This is itself owed to the rising influence of the Western culture and increasing disposable income of the people of the region. In addition, the growth in the number of supermarkets and hypermarkets has impelled owners of small grocery and retail stores to upgrade themselves with modern commercial-scale refrigerators and cooling systems. Browse full report at:https://www.psmarketresearch.com/market-analysis/latin-america-commercial-refrigeration-equipment-market To meet the increasing demand for food and beverage cooling systems, players in the fragmented LATAM commercial refrigeration equipment market are launching new and improved systems. The companies are aiming at systems that not only have eco-friendly refrigerants but are also energy-efficient and come with different cooling modes for different purposes. Electrolux AB, Metalfrio Solutions, Daikin Industries Ltd., Dover Corporation, Johnson Controls International PLC, United Technologies Corporation, Hussmann Corporation, Lennox International Inc., AHT Cooling Systems GmbH, and Illinois Tool Works Inc. are the major companies operating in the region. Hence, with the rising demand for frozen and ready-to-eat foods in LATAM, the market will keep growing.

4. Market Segmentation • Market Segmentation by Equipment Type • Beverage Refrigeration • Beverage cooling & dispensing units • Drinking fountains • Beer dispensing units • Soda fountain equipment • Others (juice dispenser and tailor-made beverages dispenser) • Walk-in Coolers • Packaged unit • Remote condensing unit • Remote plant • Transportation Refrigeration Equipment • Road • Rail • Marine • Air • Parts • Display Cases • Plug-in cases • Remote cases • Ice Making Machineries • Ice cube machineries • Ice flake machineries • Ice nugget machineries • Other Equipment (vending machines, cryogenic equipment, and liquid chiller) • Market Segmentation by Application • Food Service • Food and Beverage Distribution • Food and Beverage Retail • Others (pharmacy refrigeration, genetic preservation, and medical diagnostic applications)

5. Market Segmentation • Market Segmentation by End-User • Supermarkets • Hotels/Restaurants & Catering • Hypermarkets • Convenience Stores • E-commerce • Others (hospitals, educational institutions, large pharmaceutical stores, and medical and life sciences) • Market Segmentation by Country • Latin America Commercial Refrigeration Equipment Market • Brazil Commercial Refrigeration Equipment Market • Mexico Commercial Refrigeration Equipment Market • Argentina Commercial Refrigeration Equipment Market • Colombia Commercial Refrigeration Equipment Market • Chile Commercial Refrigeration Equipment Market • Peru Commercial Refrigeration Equipment Market • Rest of LATAM Commercial Refrigeration Equipment Market

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