May 6, 2014: Commercial Refrigeration Equipment Demand in the US to Reach $10.7 Billion
Growth Expected in the Foodservice and Food Retail Sectors
CLEVELAND — Demand for commercial refrigeration equipment in the United States is forecast to increase 3.1 percent per year through 2018 to $10.7 billion, according to a new study from The Freedonia Group Inc., a Cleveland-based industry market research firm. Advances will be driven by an improving capital investment climate and expected growth in the foodservice and food retail sectors.
Analyst Kyle Peters said, “Food industry participants will seek to reduce operating costs by improving the efficiency of their refrigeration equipment, helping to drive sales.” Greater efficiency will result from the incorporation of proximity sensors and light-emitting diode (LED) lighting systems and from increased use of enclosed equipment. However, the retrofitting of such features to existing equipment will limit potential gains for new equipment to some degree.