The North America Refrigeration Coolers Market is expected to witness market growth of 5.9% CAGR during the forecast period (2021 2027).
Refrigeration coolers are becoming increasingly popular as the demand for refrigerated food and beverage items grows, as is their use in chemicals and pharmaceuticals, the hospitality industry, and other areas. Because of the importance of a healthy diet and changes in customer preferences around the world, the demand for healthy food items such as ready-to-eat and frozen fruits is expanding. Moreover, rising government regulations and concerns about toxic refrigerants that contribute to ozone depletion will provide substantial market prospects for magnetic refrigeration technology and green technology.
The growth of the food industry has resulted in the establishment of many restaurant chains and the growth of dining restaurants all over the world, resulting in an increase in the need for refrigeration coolers. Additionally, increased disposable income in both developed and emerging countries, as well as growing preference for ready-to-eat foods and other foods like egg, milk, and meat is expected to act as the growth catalysts for the industry.
As per the US Department of Electricity, these systems can save up to 30% on energy. In addition, the lower emissions of dangerous gases and lower operational costs is expected to drive the adoption of the technology. Some of the key trends of the regional market are increasing investments in the food and beverage sectors. In addition, consumers are becoming more aware of the need for nutritious and hygienic food and are prepared to pay a premium for it, prompting restaurants and hotels to use these systems to keep food products fresh and safe. Moreover, the growing number of fast-food restaurants and the expanding restaurant industry in the United States and Canada is expected to generate a higher need for refrigeration coolers.
The US market dominated the North America Refrigeration Coolers Market by Country 2020, and is expected to continue to be a dominant market till 2027; thereby, achieving a market value of $976.4 million by 2027. The Canada market is experiencing a CAGR of 8.3% during (2021 - 2027). Additionally, The Mexico market is expected to exhibit a CAGR of 7.3% during (2021 - 2027).
Based on Component, the market is segmented into Evaporators & Air coolers and Condenser. Based on Refrigerant Type, the market is segmented into HFC/HFO, NH3, CO2, Glycol, and Others. Based on Application, the market is segmented into Commercial and Industrial. Based on Commercial Type, the market is segmented into Supermarkets & Hypermarkets, Convenience Stores & Mini Markets and Hospitality. Based on Industrial Type, the market is segmented into Refrigerated Warehouses, Beverage Processing, Fruit & Vegetable Processing, Dairy & Ice-cream Processing, Meat, Poultry, & Fish Processing and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Johnson Controls International PLC, Emerson Electric Co., Carrier Global Corporation, Daikin Industries, Ltd., The Danfoss Group, Lennox International, Inc., Guntner GmbH & Co. KG, Evapco, Inc., Baltimore Aircoil Company Inc. (Amsted Industries), and Koxka.
Refrigeration coolers are becoming increasingly popular as the demand for refrigerated food and beverage items grows, as is their use in chemicals and pharmaceuticals, the hospitality industry, and other areas. Because of the importance of a healthy diet and changes in customer preferences around the world, the demand for healthy food items such as ready-to-eat and frozen fruits is expanding. Moreover, rising government regulations and concerns about toxic refrigerants that contribute to ozone depletion will provide substantial market prospects for magnetic refrigeration technology and green technology.
The growth of the food industry has resulted in the establishment of many restaurant chains and the growth of dining restaurants all over the world, resulting in an increase in the need for refrigeration coolers. Additionally, increased disposable income in both developed and emerging countries, as well as growing preference for ready-to-eat foods and other foods like egg, milk, and meat is expected to act as the growth catalysts for the industry.
As per the US Department of Electricity, these systems can save up to 30% on energy. In addition, the lower emissions of dangerous gases and lower operational costs is expected to drive the adoption of the technology. Some of the key trends of the regional market are increasing investments in the food and beverage sectors. In addition, consumers are becoming more aware of the need for nutritious and hygienic food and are prepared to pay a premium for it, prompting restaurants and hotels to use these systems to keep food products fresh and safe. Moreover, the growing number of fast-food restaurants and the expanding restaurant industry in the United States and Canada is expected to generate a higher need for refrigeration coolers.
The US market dominated the North America Refrigeration Coolers Market by Country 2020, and is expected to continue to be a dominant market till 2027; thereby, achieving a market value of $976.4 million by 2027. The Canada market is experiencing a CAGR of 8.3% during (2021 - 2027). Additionally, The Mexico market is expected to exhibit a CAGR of 7.3% during (2021 - 2027).
Based on Component, the market is segmented into Evaporators & Air coolers and Condenser. Based on Refrigerant Type, the market is segmented into HFC/HFO, NH3, CO2, Glycol, and Others. Based on Application, the market is segmented into Commercial and Industrial. Based on Commercial Type, the market is segmented into Supermarkets & Hypermarkets, Convenience Stores & Mini Markets and Hospitality. Based on Industrial Type, the market is segmented into Refrigerated Warehouses, Beverage Processing, Fruit & Vegetable Processing, Dairy & Ice-cream Processing, Meat, Poultry, & Fish Processing and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Johnson Controls International PLC, Emerson Electric Co., Carrier Global Corporation, Daikin Industries, Ltd., The Danfoss Group, Lennox International, Inc., Guntner GmbH & Co. KG, Evapco, Inc., Baltimore Aircoil Company Inc. (Amsted Industries), and Koxka.
Scope of the Study
Market Segments Covered in the Report:
By Component
- Evaporators & Air coolers and
- Condenser
By Refrigerant Type
- HFC/HFO
- NH3
- CO2
- Glycol, and
- Others
By Application
- Commercial and
- Industrial
By Commercial Type
- Supermarkets & Hypermarkets
- Convenience Stores & Mini Markets and
- Hospitality
By Industrial Type
- Refrigerated Warehouses
- Beverage Processing
- Fruit & Vegetable Processing
- Dairy & Ice-cream Processing
- Meat
- Poultry, & Fish Processing and
- Others
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
Companies Profiled
- Johnson Controls International PLC
- Emerson Electric Co.
- Carrier Global Corporation
- Daikin Industries, Ltd.
- The Danfoss Group
- Lennox International, Inc.
- Guntner GmbH & Co. KG
- Evapco, Inc.
- Baltimore Aircoil Company Inc. (Amsted Industries)
- Koxka
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Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 3. North America Refrigeration Coolers Market by Component
Chapter 4. North America Refrigeration Coolers Market by Refrigerant Type
Chapter 5. North America Refrigeration Coolers Market by Application
Chapter 6. North America Refrigeration Coolers Market by Country
Chapter 7. Company Profiles
Companies Mentioned
- Johnson Controls International PLC
- Emerson Electric Co.
- Carrier Global Corporation
- Daikin Industries, Ltd.
- The Danfoss Group
- Lennox International, Inc.
- Guntner GmbH & Co. KG
- Evapco, Inc.
- Baltimore Aircoil Company Inc. (Amsted Industries)
- Koxka
Methodology
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