Refrigerated Display Case Sales to Grow Over 4% Annually
Gains will stem primarily from the rising number of food retail outlets in developing countries
CLEVELAND — World demand for refrigerated display cases is expected to increase 4.2 percent per year through 2020 to $7 billion, approximating sales advances for commercial refrigeration equipment as a whole, according to a new study from The Freedonia Group, a Cleveland-based industry research firm.
The report, “World Commercial Refrigeration Equipment,” states that the majority of display case 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.
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 U.S.-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.
More information on the World Commercial Refrigeration Equipment report is available here.
Publication date: 10/31/2016