CLEVELAND, Oct. 26, 2016 /PRNewswire/ -- World demand for display cases is expected to increase 4.2 percent per year through 2020 to $7.0 billion, approximating sales advances for commercial refrigeration equipment as a whole. The majority of gains will stem primarily from the rising number of food retail outlets in developing countries. Market growth in developed nations will generally be less robust, with the primary contributor to sales gains being the replacement of existing units to meet more stringent refrigerant regulations. Many retailers will opt to retrofit current display cases to make them more efficient instead of purchasing new units, tempering overall advances in dollar terms. Also, increases will be limited to some extent by competition from used equipment. These and other trends are presented in World Commercial Refrigeration Equipment, a new study from The Freedonia Group, a Cleveland-based industry research firm.
The study is available here
Suppliers of display cases have benefited from the rising number and growing sophistication of food retail outlets. Even in developing nations, many food and beverage retailers are offering a wider selection of goods, many of which require refrigeration. A growing middle class has also spurred gains, as more consumers can afford home refrigerators, benefiting refrigerated food and beverage demand.
Leading producers of refrigerated display cases include US-based Dover, Illinois Tool Works, Manitowoc Foodservice, Standex, and United Technologies. Another North America-based producer is Fomento Economico Mexicano. AHT, Ali, Frigoglass, and Ingersoll-Rand are notable Europe-based manufacturers of display cases. And noteworthy producers based in the Asia/Pacific region include Daiwa, Dalian Bingshan, Hangzhou Kalifon, Heifi Kimay, Hoshizaki, Jiangsu Baixue, Midea, Nakano Refrigerators, Panasonic, Sanden, and Voltas.
About The Freedonia Group – The Freedonia Group, a division of MarketResearch.com, is a leading international industrial research company publishing more than 100 studies annually. Since 1985 we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Each study includes product and market analyses and forecasts, in-depth discussions of important industry trends, market share information and profiles of the leading industry players. Reports can be purchased at www.freedoniagroup.com and are also available on www.marketresearch.com and www.profound.com.
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SOURCE The Freedonia Group