Canada Commercial Refrigeration Equipment Market Size & Outlook
Canada commercial refrigeration equipment market, 2018-2030 (US$M)
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Canada commercial refrigeration equipment market highlights
- The Canada commercial refrigeration equipment market generated a revenue of USD 2,319.3 million in 2023 and is expected to reach USD 3,342.2 million by 2030.
- The Canada market is expected to grow at a CAGR of 5.4% from 2024 to 2030.
- In terms of segment, other equipment was the largest revenue generating product in 2023.
- Beverage Refrigeration is the most lucrative product segment registering the fastest growth during the forecast period.
Commercial refrigeration equipment market data book summary
| Market revenue in 2023 | USD 2,319.3 million |
| Market revenue in 2030 | USD 3,342.2 million |
| Growth rate | 5.4% (CAGR from 2023 to 2030) |
| Largest segment | Other equipment |
| Fastest growing segment | Beverage Refrigeration |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Transportation Refrigeration Equipment, Refrigerators & Freezers, Beverage Refrigeration, Display Showcases, Ice Merchandisers & Ice Vending Equipment, Other Equipment |
| Key market players worldwide | Ashford Hospitality Trust Inc, Altus Group Ltd, Carrier Global Corp Ordinary Shares, Daikin Industries Ltd, Dover Corp, Electrolux AB ADR, Panasonic Holdings Corp, Illinois Tool Works Inc, Johnson Controls International PLC, Lennox International Inc, Whirlpool Corp |
Other key industry trends
- In terms of revenue, Canada accounted for 5.7% of the global commercial refrigeration equipment market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. commercial refrigeration equipment market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 3,342.2 million by 2030.
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Commercial Refrigeration Equipment Market Scope
Commercial Refrigeration Equipment Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada commercial refrigeration equipment market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to commercial refrigeration equipment market will help companies and investors design strategic landscapes.
Other equipment was the largest segment with a revenue share of 25.12% in 2023. Horizon Databook has segmented the Canada commercial refrigeration equipment market based on transportation refrigeration equipment, refrigerators & freezers, beverage refrigeration, display showcases, ice merchandisers & ice vending equipment, other equipment covering the revenue growth of each sub-segment from 2018 to 2030.
Canada is anticipated to be the highest growing region in North America with a CAGR of 5.4% over the forecast period. The growth is attributed to the constantly growing demand for food & beverages industry for more refrigeration equipment to store and preserve perishable items.
Moreover, as per Canadian Restaurant and Foodservice Association (CRFA), the commercial foodservice sales is expected to reach over USD 97 billion by 2026 compared to USD 65.1 billion in 2021. This exponential growth is expected to drive the commercial refrigeration equipment market growth.
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Our clientele includes a mix of commercial refrigeration equipment market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada commercial refrigeration equipment market , including forecasts for subscribers. This country databook contains high-level insights into Canada commercial refrigeration equipment market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada commercial refrigeration equipment market size, by product, 2018-2030 (US$M)
Canada Commercial Refrigeration Equipment Market Outlook Share, 2023 & 2030 (US$M)
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