Report Names Top 3 Trends Impacting the Industrial Refrigeration Systems Market
Market to post CAGR of close to 7% during the forecast period
LONDON — A report on the global industrial refrigeration systems market from Technavio provides an analysis of the most important trends expected to impact the market outlook through 2020. The firm defines an emerging trend as a factor that has the potential to significantly affect the market and contribute to its growth or decline.
According to Technavio’s report, the global industrial refrigeration systems market is expected to grow moderately during the forecast period, posting a compound annual growth rate (CAGR) of close to 7%. This growth is mainly attributed to the increasing demand from end-users such as the food processing industry and the oil and gas industry. Consolidation of market vendors, as well as increased focus on total cost of ownership by the operators, will positively impact the growth of the market.