U.S. Commercial Refrigeration Equipment Market Reflecting a CAGR of 3.2% by 2025
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Commercial refrigeration systems are mainly used in hypermarkets, supermarkets, convenience stores, warehouses and distribution centres, foodservice industry and food & beverage production units. Commercial refrigeration systems include products such as ice machines, vending machines, beverage refrigeration equipment, refrigerated display cases, trailers, trucks, containers and walk-in and reach-in refrigerators. Commercial refrigeration systems also include various components such as compressors and refrigerants. Refrigerants mainly used in commercial refrigeration systems include R507A, R417A and R422A. The selection of a refrigerant depends on various properties such as non-corrosiveness, global warming and ozone depletion potential, inflammability, toxicity, cost, erosional properties, leak-detection capability and thermodynamic properties.
Key trends identified in the U.S. commercial refrigeration systems market include rapid adoption of Internet of Things (IoT), compatible commercial refrigeration systems for enhancing system output, government initiatives to support utilisation of eco-friendly refrigerants and continued advancements in energy-efficient products. However, declining replacement rate of commercial refrigeration equipment and stringent government regulations could pose major challenge for tier II & III players.
The report analyses the U.S. commercial refrigeration systems market in terms of value (US$ Mn) and volume (‘000 units) by product type and end-use application, and provides insightful information regarding market dynamics, value chain, competitive landscape, current trends, market estimations and forecast.
It is observed that customisation holds the key for tier 2 and tier 3 players in order to further penetrate into the market, thus creating a competitive threat for tier 1 suppliers in the market. Meanwhile, key players are strengthening their market positions through both organic and inorganic growth. Also, acquisition of HVAC contractors is leading to the addition of a new customer base for commercial refrigeration systems manufacturers.
Key market participants covered in the report include Daikin Industries, Ltd., Standex International Corporation, Whirlpool Corporation, United Technologies, Dover Corporation, Ingersoll-Rand Plc, Hussmann Corporation, Lennox International Inc., Manitowoc Company, Inc., Emerson Electric Co. and Illinois Tool Works Inc.
Report Overview, with TOC @ https://www.futuremarketinsights.com/reports/us-commercial-refrigeration-equipment-market/toc
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