PartagerGlobal demand for commercial refrigeration equipment to rise.
The demand is predicted to benefit from strong growth in some of the world’s largest developing nations.
Global demand for commercial refrigeration equipment is forecast to rise by 4.4% annually, to reach USD 32 billion in 2016 according to Global Information (GII) compared with USD 29.1 billion in 2012. The demand is predicted to benefit from strong growth in some of the world’s largest developing nations, particularly in Asia, with China and India still the fastest growing national markets for commercial refrigeration equipment.
The US market is to recover from the 2007-2009 recession and show strong demand figures. The market is driven by several factors including continuously evolving technology, structural changes in food consumption, growing international food trade, emerging supermarkets and fast food chains and the rise of global exports in horticultural and sea-food processed foods. However GII’s study blames the drop in energy efficiency of systems, the Montreal and Kyoto Protocols and increasing fuel costs for restraining the market.
The refrigerated transport segment has the largest share of the market (18.8%), representing revenue of USD 5.4 billion, due to a rise in international food trade. The sector is expected to be worth USD 10.2 billion in 2018 with a compound annual growth rate (CAGR) of 11.11% from 2012-2018.
The refrigerated transport sector is followed by the refrigerator and freezer segment, estimated at USD 5.1 billion in 2012.
In the overall application market, the food service sector currently has the greatest share (32%) with revenue of USD 9.3 billion, estimated to reach USD 16.1 billion in 2018.
Strong growth is expected for the food, beverage and distribution equipment market: about 9.8% annually over the 2012-2018 period and forecast to reach USD 10.2 billion in 2018.
The US market is to recover from the 2007-2009 recession and show strong demand figures. The market is driven by several factors including continuously evolving technology, structural changes in food consumption, growing international food trade, emerging supermarkets and fast food chains and the rise of global exports in horticultural and sea-food processed foods. However GII’s study blames the drop in energy efficiency of systems, the Montreal and Kyoto Protocols and increasing fuel costs for restraining the market.
The refrigerated transport segment has the largest share of the market (18.8%), representing revenue of USD 5.4 billion, due to a rise in international food trade. The sector is expected to be worth USD 10.2 billion in 2018 with a compound annual growth rate (CAGR) of 11.11% from 2012-2018.
The refrigerated transport sector is followed by the refrigerator and freezer segment, estimated at USD 5.1 billion in 2012.
In the overall application market, the food service sector currently has the greatest share (32%) with revenue of USD 9.3 billion, estimated to reach USD 16.1 billion in 2018.
Strong growth is expected for the food, beverage and distribution equipment market: about 9.8% annually over the 2012-2018 period and forecast to reach USD 10.2 billion in 2018.