The Latin American commercial refrigeration equipment market is expected to reach $2,295.4 million by 2023. The growth in the market can be attributed to the growing food and beverage industry, predominantly in countries such as Brazil and Mexico.
On the basis of equipment type, the Latin American commercial refrigeration equipment market has been categorized into walk-in coolers, beverage refrigeration, transportation refrigeration equipment, parts, display cases, ice making machineries, and other equipment, wherein ‘other equipment’ includes vending machines, cryogenic equipment, and liquid chiller.
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Based on end-user, the Latin American commercial refrigeration equipment market has been categorized into supermarkets, hotels/restaurants and catering, hypermarkets, convenience stores, e-commerce, and others, wherein others category includes hospitals, educational institutions, large pharmaceutical stores, and medical and life sciences.
The economies in Latin America faced slow growth during 2013–2016, owing to global oil crisis and geopolitical instability in countries such as Brazil and Venezuela. Despite sluggish growth in the region, tourism industry witnessed the growth, driven by region’s diversity and natural resources as well as various government initiatives to promote tourism industry.
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Some of the key players operating in the Latin American commercial refrigeration equipmentmarket are Electrolux AB, Daikin Industries Ltd., Metalfrio Solutions, Dover Corporation, United Technologies Corporation, Johnson Controls International PLC, Hussmann Corporation, AHT Cooling Systems GmbH, Lennox International Inc., and Illinois Tool Works Inc.
Latin America Commercial Refrigeration Equipment Market Segmentation
Market Segmentation by Application
- Food Service
- Food and Beverage Distribution
- Food and Beverage Retail
- Others (pharmacy refrigeration, genetic preservation, and medical diagnostic applications)
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)
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