Boom Predicted in Middle East and Africa Commercial Refrigeration Equipment Market in Future
The Middle East and Africa (MEA) commercial refrigeration equipment market is set for lucrative growth in the coming years, as per the estimates of P&S Intelligence, a market research company based in India. The market is being driven by the rapid development of various organized retail chains, hypermarkets, and supermarkets, the rising popularity of ready-to-eat food items, and the soaring imports of various frozen meat products all over the region.
The developing nations of MEA such as Egypt, South Africa, Algeria, and Morocco are witnessing the rapid development of hypermarkets, supermarkets, and restaurants, on account of the rising urbanization rate and the increasing implementation of favorable government policies. Moreover, the surging disposable income and purchasing power of people and the expansion of the food retail industry and grocery stores in these countries are massively boosting the sales of refrigeration equipment in the MEA region.
Get More Insights: Middle East and Africa Commercial Refrigeration Equipment Market Segmentation Analysis Report
Additionally, several regional governments and private organizations are making huge investments in infrastructural development projects and the development of strong digital platforms, which is transforming the retail landscape of MEA. Furthermore, the organized retail sector is exhibiting rapid expansion in Qatar, Saudi Arabia, and the U.A.E. According to various reports, the organized retail industry will register growth rates of 9%, 17%, 8.5%, 9.5%, and 18% in Saudi Arabia, Qatar, Kuwait, the U.A.E., and Oman respectively in the coming years.
Depending on equipment type, the market is classified into beverage refrigeration, walk-in coolers, transportation refrigeration equipment, ice making machineries, display cases, parts, and various other equipment. Out of these, the walk-in coolers category recorded the highest growth in the market during the last few years. Moreover, this category is predicted to demonstrate the highest growth in the market in the forthcoming years, on account of the mushrooming demand for food products and beverages in the region.
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