United States. According to the Future Market Insights (FMI) report, the US commercial refrigeration systems market is projected to expand at a compound annual growth rate (CAGR) of 3.2% in terms of value during 2015-2025.
Growing demand for frozen and refrigerated products, expansion of cold chain capacity, technological advancements in commercial refrigeration systems, and discounts for efficient products and practices are some of the major underlying factors anticipated to drive market growth between 2016 and 2025.
By application, food service segment accounted for the largest share of 30% in terms of value in the U.S. commercial refrigeration systems market in 2014. This segment is expected to remain dominant in the market during the forecast period. The ice machine segment and the beer distribution equipment sub-segment are anticipated to play an important role in the food service industry due to various factors such as increasing per capita food consumption and increasing number of food service restaurants in the country.
By product type, the transportation refrigeration systems segment is projected to expand to the highest CAGR of 5.5% during the forecast period due to the expansion of cold chain capacity in the U.S.
