Middle East and Africa (MEA) Commercial Refrigeration Equipment Market – Growth Driver, Competitive

The Middle East and Africa (MEA) commercial refrigeration equipment market are 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 MEA commercial refrigeration market is anticipated to be driven by factors such as the increasing import of frozen meat products, rising demand for ready-to-eat food and beverages, and the mounting number of organized retail shops.

The key factors pertaining towards the growth of the commercial refrigeration equipment market are the growth in food and beverage industry, increasing demand of ready to eat food, egg, meat and other animal derived food.  

The growth in the food industry has led to incorporation of many restaurant chains and development of dining restaurants in the region thereby enhancing the demand for commercial refrigeration equipment. On the other hand, increasing disposable income of population along with the changing lifestyle in the region, results in the increasing demand for ready to eat food and other food like egg, milk and meat, thus, driving the growth of the commercial refrigeration market exponentially in the region.

Key players in the commercial refrigeration equipment market are focusing more on product and services launch to meet the growing demand for refrigeration equipment, leads to strengthening their position in the market. However, it has been observed that local players are depending upon new technology to develop cost efficiencies, thus increasing the rivalry in the market to some extent.

Some of the major players operating in the commercial refrigeration equipment market are 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.

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