HVAC, commercial & industrial refrigeration equipment industry comprises of the sales of HVAC and commercial & industrial refrigeration equipment by entities (sole traders, organizations, and partnerships) that produce HVAC and commercial & industrial refrigeration equipment. Some examples of these products are refrigerated counter & display cases, air-conditioning equipment, attic & exhaust fans and snow making machinery.
Industrial refrigeration equipment
is used in various end-use industries for instance processing of food &
beverages, cold storage applications & chemical processing, where
temperature control of the materials is essential. Such these types of
equipment command a massive demand in beverage production, food processing,
process cooling and HVAC applications.
As per analysis, “HVAC
And Commercial And Industrial Refrigeration Equipment Global Market Report
2020-30: Covid 19 Impact and Recovery” the key companies operating in
the global HVAC, commercial & industrial refrigeration equipment industry
include AAON Inc; Daikin Industries; Carrier Corp.; Emerson Electric Company;
Danfoss Group and among others. The leading companies in the global market have
adopted a variety of strategies including business expansion, acquisition,
partnership, product development and product launch, to provide better
products/services to clients in the HVAC, commercial & industrial
Refrigeration Equipment market. In addition, manufacturers of are concentrating
on designing the environment friendly products that have a superior chilling
efficiency. Apart from this, HVAC players are gradually more integrating
Internet-of-Things (IoT) technology with HVAC equipment owing to growing demand
for real-time insights from the HVAC equipment. IoT is the internetworking of
physical devices embedded with sensors, software and network connectivity that
enable these objects to collect & exchange data.
Based on type, HVAC and commercial & industrial refrigeration equipment market is segmented as commercial & industrial refrigeration equipment and HVAC equipment. Additionally, based on application, market can be bifurcated as small, medium and large.
The market is driven by upgrading
cold storage infrastructure across emerging economies, followed by rise in
consumption of FMCG products and growth in adoption of energy-efficient &
eco-friendly refrigerants. Additionally, in the pharmaceutical industry,
research & development (R&D) initiatives pertaining to the
manufacturing of novel drugs require industrial refrigeration equipment to
store samples. Apart from this, stringent regulations related to the usage of
refrigerants along with high energy costs for operation & maintenance of
industrial refrigeration units may impact the market. Moreover, rise in use of
IoT-enabled refrigeration solutions for equipment monitoring is a leading
opportunity for market.
By geographic analysis, the
Asia-pacific region dominates the global HVAC and commercial & industrial
refrigeration equipment market owing to rise in number of applications in the
food & beverages industry, chemical industry and pharmaceuticals industry
across the region. The North-America and Europe regions are estimated to
witness higher growth rate due to rapidly expanding processed food industry
& efforts towards attaining energy efficiency coupled with acceptance of
natural refrigerants over the forecast period. It is predicted that future of
the global HVAC and commercial & industrial refrigeration equipment market
will be optimistic on account of huge demand for cold storage of various food
& beverage product during the forecast period.
For More Information,
Click on the Link Below:-
Global
HVAC and Commercial and Industrial Refrigeration Equipment Market
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
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