Markets: Russian refrigeration market

The Russian refrigeration market is rapidly expanding. According to Alexander Baranenko, Chairman of the International Academy of Refrigeration, 300 000 companies are currently involved in refrigeration in Russia. About 6 million refrigerating units were added to the existing 69 million units in 2007. The air-conditioning sector grew by 20% in 2007 thanks to rising numbers of new buildings. Industrial refrigeration sales figures are expected to reach USD 923 million in 2008 and USD 1207 million in 2010. A. Baranenko considers that refrigerated transport of food has a huge potential for development through replacement or retrofitting of old refrigerated wagons used in the refrigerated transport of 75 million tons of food per year. Marine refrigerated transport is currently little used and is expected to expand.