Global Demand for Commercial Refrigeration Equipment to Reach $32 billion in 2016, $46.6 billion in 2018
FARMINGTON, Conn., Jan. 10, 2013 /PRNewswire-iReach/ -- Global demand for commercial refrigeration equipment is forecast to rise 4.4 percent per year through 2016 to $32.0 billion, an acceleration from the 2006- 2011 pace. Demand will benefit from strong growth in a number of the world's larger developing nations, particularly in Asia. China and India will continue to be the fastest growing national markets for commercial refrigeration equipment. The US market, which suffered during the 2007-2009 recession, will recover and post substantially stronger growth in demand for these products, although gains will slightly trail the world average.
The commercial refrigeration equipment market is driven by various factors including continuous evolving technology, changing food consumption trends, rising international food trade, emergence of supermarkets and fast food chains, rise in horticulture, and sea-food and processed food exports across the globe. However, some of the key restraints for the commercial refrigeration equipment market include less energy-efficient commercial refrigeration equipments, the Montreal and Kyoto protocol, and increasing fuel cost.
Global Information (GII) presents three reports covering the global commercial refrigeration equipment market from our premium market research partners. The research findings and market forecasts in the following reports help spot future trends and developments and improve business decision making.
World Commercial Refrigeration Equipment
China was by the far the fastest growing world market for commercial refrigeration products between 2001 and 2011, posting double-digit annual growth rates and more than quadrupling in size over those ten years. However, the US will remain the largest market for commercial refrigeration equipment accounting for nearly a quarter of global sales growth through 2016.
As economic growth in China slows, demand gains for commercial refrigeration products will decelerate, but will remain the fastest in the world. India, despite its massive size, remains a relatively small market for commercial refrigeration equipment, with per capita demand ranking among the smallest in the world. However, heavy investment in infrastructure and rising incomes will create strong potential for growth, and demand gains for these products in India will be the second fastest in the world. Other developing nations with strong growth prospects include Indonesia and Thailand.
Japan was the third largest market for commercial refrigeration equipment in 2011, but has declined in size since 2006, reflecting both poor economic conditions and the maturity of the market. Demand for commercial refrigeration products in Japan is forecast to return to positive growth through 2016, but gains will be significantly slower than the world average.
These regional findings and other market findings, such as market environment factors, company share, and global industry competitors, are presented in this study along with historical demand data and forecasts for 2016 and 2021 by product and world region.
An Executive Summary for this report and free sample pages from the full document are available at http://www.giiresearch.com/report/fd139270-commercial-refrigeration.html
Commercial Refrigeration Equipment Market : Global Industry Size, Market Share, Trends, Analysis And Forecast, 2012 – 2018
The global commercial refrigeration equipment market accounted to $29.1 billion in 2012 and is expected to reach $46.6 billion in 2018, growing at a CAGR of about 8.2% from 2012 to 2018. In the overall global market, Asia Pacific leads the commercial refrigeration equipment market in terms of revenue with 34.1% market share, followed by the North America.
Currently, the transportation refrigeration segment retains the maximum share of 18.8% with revenue of $5.4 billion owing to the rise in international food trade across the globe. The transportation refrigeration segment is expected to attain revenue of $10.2 billion in 2018 at a CAGR of 11.1% from 2012 to 2018. The transportation refrigeration segment is followed by refrigerators and freezers segment, which is estimated to be $5.1 billion in 2012.
In the overall application market, the food service sector currently retains the maximum share of 32.0% with revenue of $9.3 billion, which is estimated to reach $16.1 billion in 2018. The food, beverage and distribution application market is estimated to attain revenue of $10.2 billion in 2018, growing at a CAGR of about 9.8% from 2012 - 2018.
Some of the major players leading the market include Daikin Industries Ltd., Carrier, Dover, ITW, and Hussmann. Through continuous innovation and development these players continue to dominate the commercial refrigeration equipment market.
An Executive Summary for this report and free sample pages from the full document are available at http://www.giiresearch.com/report/tsm253527-commercial-refrigeration-equipment-market-global.html
Refrigeration Appliances - Country Reports
New from publisher Euromonitor, this is a comprehensive collection of market research reports on a wide cross section of the consumer refrigeration appliances industry. Each report individually monitors and analyzes industry trends by country, including in-depth data on market share and market size. The reports also provide answers to questions about major refrigeration appliance brands, preferred refrigeration capacity size, and medium-term growth prospects for fridge freezers. A full list of the countries covered and links to samples from individual nation reports are available at http://www.giiresearch.com/report/eo220869-refrigeration-appliances-country-reports.html
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