Global Demand for Commercial Refrigeration Equipment to Exceed $29 Billion

World demand for commercial refrigeration equipment is projected to rise 4.6 percent per year (including price increases) through 2012 to $29.3 billion, with developing nations expected to register the strongest gains. A growing number of food retailers and restaurants will contribute to growth.  The ongoing expansion of fast food chains will be especially beneficial, since these outlets utilize a wide range of commercial refrigeration equipment.  These and other trends, including market share and product segmentation, are presented in World Commercial Refrigeration, a new study from The Freedonia Group, Inc., a Cleveland-based industry research firm.

Strongest opportunities are in Latin America and Asia, where faster population growth and improved standards of living will stimulate demand for commercial refrigeration equipment in markets such as food and beverage distribution, retailing and restaurants.  China will record some of the strongest increases, with demand rising nearly ten percent annually through 2012.  India will also post strong gains, as the nation improves the efficiency of its food distribution network.

The developed nations of North America, Western Europe, and the Asia/Pacific region comprise mature markets for commercial refrigeration equipment.  The US will remain the largest market in the world, as replacement demand continues to create opportunities.  Japan and Western Europe will register below average gains through 2012, although Japan will see improvement over its performance of the 2002-2007 period.

Reach-in and walk-in coolers and freezers are expected to be the fastest growing product group, due to their widespread use in all of the major markets.  These appliances are used by food processors, restaurants and food retailers, and are expected to post solid gains in developing regions.  Display cases will benefit from a growing middle class, which will spur gains in the food and beverage retail segment.      

The Freedonia Group is a leading international business research company, founded in 1985, that publishes more than 100 industry research studies annually. This industry analysis provides an unbiased outlook and a reliable assessment of an industry and includes product segmentation and demand forecasts, industry trends, demand history, threats and opportunities, competitive strategies, market share determinations and company profiles.