The rise of the North America commercial refrigeration system market is backed by growing consumption of frozen food items and beverage items in this region
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The North America commercial refrigeration system market is segmented into application type such as foodservice, food and beverage production, food and beverage retail, food and beverage distribution. Further, commercial refrigeration systems are highly used in food industries, restaurants and retail shops.
North America commercial refrigeration system market is expected to register 3.1% CAGR over the forecast period. Moreover, the North America commercial refrigeration system market was valued at USD 5.72 Billion in 2015 and is expected to reach at notable revenue by the end of 2021.
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The market is expected to expand on the back of rising number of food and service industries in North America region. Increasing number of restaurants and high consumption of cold drinks and other frozen items are likely to drive the growth of North America commercial refrigeration system market during the forecast period.
The transportation refrigeration segment by product type is likely to witness significant growth during the forecast period. Growing international food trading between nations is anticipated to spur the growth of transportation refrigeration segment during the forecast period.
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Growing food and service industries
The North America commercial refrigeration system market is primarily driven by a number of factors such as increasing number of restaurants, high consumption of frozen items and consumer’s inclination towards restaurant dining in North America region. Further, growing food distribution industries such as Sysco Food service is also a major factor which is envisioned to drive the market of North America commercial refrigeration system over the forecast period.
Increasing consumer’s spending
Rising disposable income of the consumers and increased spending on food items are major factors which are increasing number of restaurants, food retail shops and others which in turn likely to drive the growth of North America commercial refrigeration system market over the forecast period.
Although, high cost of commercial refrigeration systems is one of the key factors that is likely to inhibit the growth of the commercial refrigeration system market in the near future.
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The report titled “North America Commercial Refrigeration System Market Analysis & Opportunity Outlook 2021” delivers detailed overview of the North America commercial refrigeration system market in terms of market segmentation by product type, by application and by refrigerant type.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the North America commercial refrigeration system market which includes company profiling of ENTEC services, Inc., Dover Corporation, Heatcraft Worldwide Refrigeration, Anthony International, Heat transfer product group, Blissfield manufacturing company. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
On the whole, the report depicts detailed overview of the North America commercial refrigeration system market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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