Zero-emission technologies transforming the refrigeration industry

The commercial refrigeration equipment market was estimated to exceed USD31 billion in 2015. Increasing demand for packaged food and beverages with high growth in hospitality industry has led to significant industry growth.

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Furthermore, increasing trend towards consumer dining out and ongoing expansion of retail chains across the globe including Europe and Asia Pacific is contributing to the overall industry growth. Recently, the food industry has started formulating the seafood exports, globally owing to the reduction in overall meat consumption in the Europe and North America owing to environmental and sustainability impacts. It offers manufacturers with immense opportunities for growth by developing efficient and advanced refrigeration equipment to handle extra seafood.

Stringent regulations and increasing concern over the use of refrigerants with high global warming potential are expected to provide several growth opportunities for advancement in commercial refrigeration technology. For instance, magnetic refrigeration system is a green technology that requires low maintenance cost and has higher energy efficiency, saving up to 30% of the total energy consumption as reported by the U.S. Department of Energy. Moreover, Zero emission of hazardous gases and decreased operational costs are some of the other factors driving demand for this technology over the conventional cooling technologies.