Study: Commercial refrigeration equipment market to witness growth from foodservice sector
The foodservice application sector will dominate the market, with shipments forecast to exceed 4.5 million units by 2024.
The U.S. commercial refrigeration equipment market, which approached $10 billion in revenue in 2017, is expected to witness growth due to growing foodservice sector, according to a report produced by Global Market Insights, Shelbyville, Del.
The foodservice application sector will dominate the market, with shipments forecast to exceed 4.5 million units by 2024. Meanwhile, industry growth from food and beverage production applications is forecast to grow at 2.5% CAGR, particularly due to the production of milk and dairy products.