North America Commercial Refrigeration Equipment Market Size & Outlook
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North America commercial refrigeration equipment market highlights
- The North America commercial refrigeration equipment market generated a revenue of USD 14,072.6 million in 2024.
- The market is expected to grow at a CAGR of 4.2% from 2025 to 2033.
- In terms of segment, refrigerators & freezers was the largest revenue generating product in 2024.
- Beverage Refrigeration is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Canada is expected to register the highest CAGR from 2025 to 2033.
North America data book summary
| Market revenue in 2024 | USD 14,072.6 million |
| Market revenue in 2033 | USD 20,558.3 million |
| Growth rate | 4.2% (CAGR from 2025 to 2033) |
| Largest segment | Refrigerators & freezers |
| Fastest growing segment | Beverage Refrigeration |
| Historical data covered | 2021 - 2023 |
| Base year for estimation | 2024 |
| Forecast period covered | 2025 - 2033 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Transportation Refrigeration Equipment, Refrigerators & Freezers, Beverage Refrigeration, Display Showcases, Ice Merchandisers & Ice Vending Equipment, Other Equipment |
| Key market players worldwide | Ashford Hospitality Trust Inc, Altus Group Ltd, Carrier Global Corp Ordinary Shares, Daikin Industries Ltd, Dover Corp, Electrolux AB ADR, Panasonic Holdings Corp, Illinois Tool Works Inc, Johnson Controls International PLC, Lennox International Inc, Whirlpool Corp |
Other key industry trends
- In terms of revenue, North America region accounted for 32.8% of the global commercial refrigeration equipment market in 2024.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2033.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 20,865.5 million by 2033.
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Commercial Refrigeration Equipment Market Scope
Commercial Refrigeration Equipment Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Ashford Hospitality Trust Inc | View profile | 116 | 14185 Dallas Parkway, Suite 1200, Dallas, TX, United States, 75254 | https://www.ahtreit.com |
| Lennox International Inc | View profile | 12600 | 2140 Lake Park Boulevard, Richardson, TX, United States, 75080 | https://www.lennox.com |
| Altus Group Ltd | View profile | 2600 | 33 Yonge Street, Suite 500, Toronto, ON, Canada, M5E 1G4 | https://www.altusgroup.com |
| Carrier Global Corp Ordinary Shares | View profile | 53000 | 13995 Pasteur Boulevard, Palm Beach Gardens, FL, United States, 33418 | https://www.corporate.carrier.com |
| Whirlpool Corp | View profile | 59000 | 2000 North M-63, Benton Harbor, MI, United States, 49022-2692 | https://www.whirlpoolcorp.com |
| Dover Corp | View profile | 25000 | 3005 Highland Parkway, Downers Grove, IL, United States, 60515 | https://www.dovercorporation.com |
| Daikin Industries Ltd | View profile | 107127 | Umeda Center Building, 2-4-12, Nakazaki-Nishi, Kita-ku, Osaka, Japan, 530-8323 | http://www.daikin.com |
| Electrolux AB ADR | View profile | 41869 | Street Goransgatan 143, Stadshagen, Stockholm, Sweden, SE-105 45 | https://www.electroluxgroup.com |
| Illinois Tool Works Inc | View profile | 45000 | 155 Harlem Avenue, Glenview, IL, United States, 60025 | https://www.itw.com |
| Panasonic Holdings Corp | View profile | 230025 | 1006, Oaza Kadoma, Kadoma-shi, Osaka, Japan, 571-8501 | https://holdings.panasonic |
| Johnson Controls International PLC | View profile | 102000 | One Albert Quay, Cork, Ireland, T12 X8N6 | https://www.johnsoncontrols.com |
North America commercial refrigeration equipment market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to commercial refrigeration equipment market will help companies and investors design strategic landscapes.
Refrigerators & freezers was the largest segment with a revenue share of 28.59% in 2025. Horizon Databook has segmented the North America commercial refrigeration equipment market based on transportation refrigeration equipment, refrigerators & freezers, beverage refrigeration, display showcases, ice merchandisers & ice vending equipment, other equipment covering the revenue growth of each sub-segment from 2021 to 2033.
The North American commercial refrigeration equipment market is a significantly growing industry with high potential for further growth. The significant growth is primarily attributed to the mature retail industry in the U.S. The region has a strong presence of numerous leading manufacturers of commercial refrigeration equipment.
Moreover, the early adoption of smart equipment across commercial kitchens is also favoring the market expansion in the region. Furthermore, governments in North America are constantly working on introducing stringent regulations to ensure the quality and safety of food products, which led to an increased demand for commercial refrigeration equipment in the region that meets the standards.
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America commercial refrigeration equipment market , including forecasts for subscribers. This continent databook contains high-level insights into North America commercial refrigeration equipment market from 2021 to 2033, including revenue numbers, major trends, and company profiles.
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North America commercial refrigeration equipment market size, by country, 2021-2033 (US$M)
North America Commercial Refrigeration Equipment Market Outlook Share, 2025 & 2033 (US$M)
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