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Latin American Commercial Refrigeration Equipment Market Size, Share, Trends, Demand Key Players and Growth Opportunities by 2023

The Latin American commercial refrigeration equipment market generated revenue of $1,766.0 million in 2017. The market is growing at a CAGR of 4.5% during 2018 – 2023 and will 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. The consumption of ready-to-eat products, beverages, and frozen food is increasing in Latin America, which is further boosting the demand for commercial refrigeration equipment.
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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. Walk-in coolers equipment was the largest category in terms of value in 2017.
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. Supermarkets held the largest share in the market accounting for 26.2% share in 2017. The increase number of supermarkets in Brazil and increasing food retail sales through supermarkets in Chile are the major factors driving the market in the region.
Some of the key players operating in the Latin American commercial refrigeration equipment market 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.
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