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World Commercial Refrigeration Equipment Market
World Commercial Refrigeration Equipment Market
- Report price : $ 5 700
- Publication date : October 2008
World Commercial Refrigeration Equipment Market
Global demand to rise 4.5% annually through 2012
World demand for commercial refrigeration equipment is projected to rise 4.5 percent per year (including price increases) through 2012 to $29.5 billion, with developing nations expected to register the strongest gains. This represents a deceleration from the 2002-2007 period, reflecting decelerating economic growth in developing regions and Eastern Europe. However, rising income levels will continue to bolster most refrigeration consuming sectors in these regions.
The fastest growth in production will be in industrializing parts of the world. China has been posting the strongest annual output gains, a trend that is expected to continue due both to rising domestic demand and increasing exports. However, the majority of commercial refrigeration equipment output originates in the US, Western Europe and Japan.
Latin America, Asia/Pacific regions show best prospects
Strongest market opportunities are in Latin America and the Asia/Pacific region, 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 Asia/Pacific (i.e., Australia, Hong Kong, Japan, New Zealand, Singapore, South Korea) 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 they will also see improvements over their performances of the 2002-2007 period.
Reach-in, walk-in products to be fastest growing types
Reach-in and walk-in coolers and freezers are expected to be among the fastest growing product groups, 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 have 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. Growth in demand for ice machines will be due to the increasing number of restaurants globally.
Study coverage
This new industry study, World Commercial Refrigeration Equipment, presents historical demand data (1997, 2002 and 2007) plus forecasts for 2012 and 2017 by commercial refrigeration product, and for six world regions and 27 major countries. The study also considers market environment factors, evaluates company market share and profiles industry competitors.
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