North America Commercial Refrigeration Equipment Market Size & Outlook
North America commercial refrigeration equipment market, 2018-2030 (US$M)
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North America commercial refrigeration equipment market highlights
- The North America commercial refrigeration equipment market generated a revenue of USD 13,059.0 million in 2023.
- The market is expected to grow at a CAGR of 4.5% from 2024 to 2030.
- In terms of segment, refrigerators & freezers was the largest revenue generating product in 2023.
- Beverage Refrigeration is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Canada is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 13,059.0 million |
| Market revenue in 2030 | USD 17,721.3 million |
| Growth rate | 4.5% (CAGR from 2023 to 2030) |
| Largest segment | Refrigerators & freezers |
| Fastest growing segment | Beverage Refrigeration |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 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, North America region accounted for 32.0% of the global commercial refrigeration equipment market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 17,855.4 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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North America 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.
Refrigerators & freezers was the largest segment with a revenue share of 23.62% in 2023. Horizon Databook has segmented the North America 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.
The North American commercial refrigeration equipment market is a significantly growing industry with high potential for further growth. The significant growth is primarily attributed to the mature retail industry in the U.S. The region has a strong presence of numerous leading manufacturers of commercial refrigeration equipment.
Moreover, the early adoption of smart equipment across commercial kitchens is also favoring the market expansion in the region. Furthermore, governments in North America are constantly working on introducing stringent regulations to ensure the quality and safety of food products, which led to an increased demand for commercial refrigeration equipment in the region that meets the standards.
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America commercial refrigeration equipment market , including forecasts for subscribers. This continent databook contains high-level insights into North America commercial refrigeration equipment market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America commercial refrigeration equipment market size, by country, 2018-2030 (US$M)
North America Commercial Refrigeration Equipment Market Outlook Share, 2023 & 2030 (US$M)
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