The North America Storage Refrigeration Monitoring Market would witness market growth of 7.6% CAGR during the forecast period (2023-2030).
In order to continuously collect and evaluate data on temperature, humidity, pressure, and other relevant parameters, storage refrigeration monitoring systems use information logging devices, sensors, and monitoring software programs. The fundamental goal of storage refrigeration monitoring systems is to ensure that perishable commodities, such as food, medicines, vaccines, and other temperature-sensitive goods, are stored in the safest and most efficient manner possible.
In the manufacturing and commercial sectors, refrigeration systems are frequently used. Gas liquefaction is a crucial application for these technologies. As part of air filtration, it is also employed for the condensation of water vapor to lower the moisture level. Storage refrigeration monitoring systems are also employed in chemical plants, petrochemical plants, and oil refineries to keep low temperatures in several operations. Additionally, shipping commodities like temperature-sensitive meals and other items call for refrigeration. To keep them from spoiling, dairy products require constant refrigeration. Studies have shown that eggs also require refrigeration when being transported. Therefore, food storage refrigeration reduces the growth of bacteria and preserves the food edible for longer.
It is anticipated that the region's advanced healthcare infrastructure would support the establishment of storage refrigeration monitoring systems. Due to the increased demand from food warehouses as well as food logistics operators for temperature monitors, this region now maintains a sizeable market share. The rising rate of obesity in the region is affecting consumer food habits, and as a result, Fresh and organic foods are becoming more and more popular. Furthermore, Canada is the second-largest producer of blueberries in the world, and the industry has a fully integrated supply chain for processing and production. Consequently, these elements offer the regional market promising potential opportunities.
The US market dominated the North America Storage Refrigeration Monitoring Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $3.7 billion by 2030. The Canada market is estimated to witness a CAGR of 10.1% during (2023 - 2030). Additionally, The Mexico market would showcase a CAGR of 9.1% during (2023 - 2030).
Based on Industry, the market is segmented into Food & Beverages, Healthcare, Chemical & Pharmaceuticals, Residential, and Others. Based on Application, the market is segmented into Fresh Fruits & Vegetables, Beverages, Medical & Pharmaceutical Products, Dairy & Icecream, Meat, and Others. Based on Component, the market is segmented into Compressor, Condenser, Evaporator, Expansion Valve, and Others. Based on System Type, the market is segmented into Software, Hardware, and Services. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide Storage Refrigeration Monitoring Market is Projected to reach USD 15.3 Billion by 2030, at a CAGR of 8.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Carrier Global Corporation (Sensitech, Inc.), Raytheon Technologies Corporation, Evapco, Inc., The Danfoss Group, Daikin Industries Ltd., Emerson Electric Co., GEA Group AG, Ingersroll Rand, Inc., Johnson Controls International PLC, Mayekawa Mfg. Co., Ltd.
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