Newsline

Refrigeration Demand To Exceed $25.8 Billion

March 4, 2005
/ Print / Reprints /
ShareMore
/ Text Size+
CLEVELAND - According to World Commercial Refrigeration, a new study from The Freedonia Group, world demand for commercial refrigeration equipment is projected to rise 5.3 percent per year (including price increases) through 2008 to $25.8 billion, with developing nations expected to register the strongest gains.

This represents a substantial improvement over the 1998-2003 period, reflecting accelerating economic growth in developing regions, including Eastern Europe. Improving economic fundamentals, especially income level, will bolster most refrigeration-consuming sectors in these regions, it states in the study.

The most promising 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.

Other trends the study notes are that China will record some of the strongest increases, with demand rising nearly 10 percent annually through 2008. India also will post strong gains, as the nation invests in improving the efficiency of its food distribution network. Latin America, in particular Mexico and Argentina, will benefit from economic recovery after the recession earlier this decade.

The developed nations in North America, Western Europe, and Asia/Pacific comprise mature markets for commercial refrigeration equipment. However, the study says, the United States will make a dramatic recovery from a recessionary period, and although the markets in Japan and Western Europe will register below-average gains through 2008, they will see improvements over their performances of the 1998-2003 period.

Publication date: 03/07/2005

Did you enjoy this article? Click here to subscribe to The NEWS Magazine

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

2014 Energy Efficiency Forum

Highlights from the 25th annual Energy Efficiency Forum in Washington, D.C.

Podcasts

NEWSMakers: Jeremy Begley

Jeremy Begley, home-performance specialist and Web and social media manager with National Heating and Air Conditioning Co. in Cincinnati discusses how and why you should add home-performance philosophies to your contracting repertoire. Posted on Sept. 12.

More Podcasts

ACHRNEWS

NEWS 09-15-14 cover

2014 September 15

Check out the weekly edition of The NEWS today!

Table Of Contents Subscribe

Venting R-22

The NEWS reported that a man received prison time for venting R-22. Should EPA step up enforcement?
View Results Poll Archive

HVACR INDUSTRY STORE

plumbing-hvac.gif
2014 National Plumbing & HVAC Estimator

Every plumbing and HVAC estimator can use the cost estimates in this practical manual!

More Products

Clear Seas Research

 

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications, Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

DON'T MISS A THING

Magazine image
 
Register today for complete access to ACHRNews.com. Get full access to the latest features, Extra Edition, and more.

STAY CONNECTED

facebook icontwitter iconyoutube iconLinkedIn i con