Demand for Commercial Refrigeration Equipment to Reach $36.5B in 2018
Global demand for commercial refrigeration equipment is forecast to increase 4.7% annually through 2018 to $36.5 billion, according to a new study conducted by The Freedonia Group, Inc., a Cleveland, Ohio-based market research firm.
The study, “World Commercial Refrigeration Equipment,” shows that advances in commercial refrigeration equipment will be bolstered in large part by ongoing industrialization efforts in many of the world’s developing countries, especially China and India. The rising ownership level of household refrigerators and freezers in the developing world will stimulate demand, since ownership of these products spurs consumer interest in refrigerated and frozen foods and drives retail food outlets to invest in more refrigeration equipment.