U.S. Global Commercial Refrigeration Markets Poised for Growth
Factors include more supermarkets, new refrigerant, and efficiency regs
Demand for commercial refrigeration equipment in the United States is forecast to rise 3.1 percent per year through 2020 to $11.3 billion, according to a report by Reportbuyer.
According to the report, US Commercial Refrigeration Industry, the growth between now and 2020 will be moderating somewhat compared to the 2010-2015 period, when growth was bolstered by a rebound in sales after the economic recession. Despite this slowdown, suppliers are expected to benefit from the phaseout of R-22 refrigerant scheduled to occur in 2020. The phaseout will prompt commercial refrigeration equipment operators to either retrofit their equipment to use an acceptable alternative refrigerant, which will increase parts demand, or to replace their existing equipment, which will boost system sales.