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Though the refrigeration coolers market growth was disrupted to a certain extent by COVID-19 in the last couple of years, the manufacturing sector is expected to pick up the pace gradually in the coming months. The refrigeration coolers market is predicted to move forward at a moderate pace with a CAGR of 6% from 2022 to 2032, following the refrigeration coolers market analysis by Future Market Insights (FMI).
The refrigeration coolers market is anticipated to garner a revenue of about US$ 5 Bn by 2027, with the factors mentioned above holding sway over the market.
Customized walk-in refrigerator installation has grown in popularity in recent years, emphasising the importance of efficient refrigeration in commercial applications. The use of safety equipment is required when working with ammonia-based refrigeration systems.
Ammonia, when combined with certain hydrocarbons, is a flammable and corrosive refrigerant that has been shown to be lethal when inhaled. As a result, the demand for refrigeration coolers is reduced.
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In the wake of the COVID-19 pandemic, increased demand for online grocery shopping and frozen food has prompted e-commerce companies to invest in refrigerated warehouses and cold storage, thereby facilitating the adoption of refrigeration coolers.
“The refrigerated cooler market in Asia-Pacific is expected to grow at the fastest rate where A.P.A.C. includes countries like China, India, and Japan, which are global leaders in terms of refrigerated warehouse capacity, and global market players are seeing strong demand from countries like China, India, Japan, and South Korea, where a high demand for food primarily drives population growth, and in turn broadening the refrigeration coolers market opportunities.” says an F.M.I. researcher.
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A few notable commercial refrigeration companies are Daikin Industries Ltd., Haier Electronics Group Co., Ltd., Illinois Tool Works Inc. (I.T.W.), A.B. Electrolux, Panasonic Corporation, Ali Group Srl, Frigoglass S.A.I.C., Dover Corporation and United Technologies Corporation.
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The post Global Refrigeration Coolers Market Is Expected To Have A Moderate CAGR Of 6% During The Forecast Period 2022-2032 appeared first on Future Market Insights.
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