Asia Pacific represents the largest as well as the fastest growing regional market
September 7, 2015
The global market for refrigerated display cases and chilled rooms is forecast to grow at a compound annual growth rate (CAGR) of 10.5 percent from 2014 to 2020, according to a report available from Research and Markets. The market was valued at $21.9 billion and is expected to cross $43.2 billion by 2020.
A new report has found that the environmental challenge caused by booming global demand for refrigeration could be far greater than previously thought. Due to changing demographics, particularly in Asia, the number of refrigerated vehicles on the road could feasibly reach 15.5 million by 2025, up from less than 3 million in 2013.
According to the Food and Agriculture Organization of the United Nations, more than 800 million people worldwide go to bed hungry, while one-third or more of all food produced never reaches consumers due to spoilage and waste. In response to this issue, Carrier has announced its inaugural “World Cold Chain Summit to Reduce Food Waste.”
When refrigeration is looked at from a global perspective, it is easy to discover the haves and the have not’s. Developed countries like the United States have refrigeration systems that protect food at every step along the cold chain. But in developing countries, that refrigeration aspect is often missing in most every step.
Richard Royal, Walmart’s senior design manager for refrigeration, has set out the global retail giant’s strategy based on increasingly packaged equipment, closer collaboration with the supply chain, and integrated controls systems.
Conference to Focus on the Cold Chain and Sustainable Refrigeration Technology
July 18, 2013
The Institute of Refrigeration has announced that it will be hosting the International Institute of Refrigeration’s 3rd International Conference on Sustainability and the Cold Chain in June 2014 in London. The conference is expected to attract an international audience and showcase leading edge developments.
Emerson Climate Technologies has announced an “expanded presence” in China with the acquisition of Shanghai Well-Tech Refrigeration Systems Co. “Many analysts agree that the Chinese industrial refrigeration market offers significant growth opportunity,” said Ram Krishnan, president of the refrigeration division of Emerson.