Commercial Refrigeration Equipment

Commercial Refrigeration Equipment

The US commercial refrigeration equipment market will register average yearly growth of 3.1 percent per year through 2020, reaching $11.3 billion. Equipment sales will be supported by the 2020 phase-out of R-22 and the beginning of a phase-out schedule for HFCs, the first of which occurred in July 2016.

This report segments the commercial refrigeration equipment industry by product and market. Data is provided in million US dollars.

Commercial refrigeration equipment products include:
Transportation Refrigeration Systems
Refrigerators & Freezers
Beverage Refrigeration Equipment
Display Cases
Ice Machines
Cryogenic Equipment
Liquid Chillers
Vending Machines
Other Commercial Refrigeration Equipment
Parts

Transportation refrigeration systems will continue to comprise the largest share of demand in 2020, accounting for 21 percent of the market. Beverage refrigeration equipment and display cases will achieve the fastest growth. Beverage refrigeration equipment sales will stem from anticipated gains foodservice revenues, while changing refrigerant regulations will stimulate the sale of display cases.

Major commercial refrigeration equipment markets include:
Foodservice
Food & Beverage Retail
Food & Beverage Distribution
Food & Beverage Production
Other Markets

Foodservice was the leading market for commercial refrigeration equipment in 2015 with 30 percent of demand. The foodservice market will also record the fastest growth through 2020. The foodservice market utilizes a wide array of commercial refrigeration equipment products and the rising number of meals purchased outside the home will continue to stimulate equipment investment.

The US commercial refrigeration equipment is dominated by a small number of large firms. Leading suppliers include Crane, Dover, Hoshizaki, Hussmann, Lennox, Manitowoc Foodservice, Illinois Tool Works, Ingersoll-Rand, Sanden, Standex, True Manufacturing, and United Technologies.