The Middle East and Africa (MEA) commercial refrigeration equipment market is expected to grow at a CAGR of 7.7% during the forecast period with its market size predicted to reach USD 5.2 billion by 2024. The increasing import of frozen meat products, rising demand for ready-to-eat food and beverages, and the mounting number of organized retail shops are the major factors leading to the high demand of commercial refrigeration equipment in the MEA market.
Increasing demand for ready-to-eat food and beverages to fuel the growth of the commercial refrigeration equipment market
With the changing lifestyle and concentrating population in urban areas across the region, the demand for ready-to-eat food has increased multi-fold over the last decade. With the advancements in processing technologies and packaging industry, the ready-to-eat foods are readily available. Large FMCG companies, as well as domestic unorganized players, are exploring the opportunities in processed food industry. The strengthening economic condition of the region have provided opportunities for processed food industry players in the market.
Display cases to witness the fastest growth in the commercial refrigeration equipment market
Based on equipment type, the commercial refrigeration equipment market is segmented into walk-in coolers, beverage refrigeration, transportation refrigeration equipment, display cases, parts, ice making machineries, and others. The other equipment includes vending machines, cryogenic equipment, and liquid chillier. Of all the equipment type, the highest growth in the demand for the display cases has been observed over the last five years which is anticipated to remain the highest among all the commercial refrigeration equipment types during the forecast period.
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Food service refrigeration equipment are being widely adopted by end users
The commercial refrigeration equipment market on the basis of application is segmented into food and beverage distribution, food service, food and beverage retail and others. Among all these segments, food service refrigeration is expected to witness highest demand for this refrigerator equipment during the forecast period.
Based on end-user, the commercial refrigeration equipment market is segmented into hotels/restaurants & catering, convenience stores, supermarkets, hypermarkets, e-commerce, and others. Among these segments, supermarkets are the largest end-user of refrigeration equipment in commercial application.
United Technologies Corporation, Johnson Controls International PLC, Daikin Industries Ltd., Dover Corporation, AB Electrolux, Illinois Tool Works Inc., Frigoglass S.A.I.C., AHT Cooling Systems GmbH, and Ali Group S.r.l. a Socio Unico are some of the major players operating in the commercial refrigeration equipment market.
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The report provides the market value for the base year 2018 and a yearly forecast till 2024 in terms of revenue (USD Million) and volume (Thousand Units). The report segments the MEA commercial refrigeration equipment market on the basis of equipment type, application, end user, and country.
Middle East and Africa (MEA) Commercial Refrigeration Equipment Market Coverage
Equipment Type Insight and Forecast 2014-2024
Application Insight and Forecast 2014-2024
End User Insight and Forecast 2014-2024
Commercial Refrigeration Equipment Market by Country
Rest of Middle East and Africa (MEA)