FMI Study Examines Expected Growth of Global Refrigeration Compressor Demand
Reciprocating commercial refrigeration compressors account for over 1/3 of sales
LONDON — The global demand for commercial refrigeration compressors is expected to show promising growth, with a value compound annual growth rate (CAGR) of higher then 4 percent over 2019-2029. An increase in food and beverage production, along with the expansion of cold chain capacities to ensure minimize wastage and efficient storage of food, is expected to increase the demand for commercial refrigeration compressors, worldwide, over the forecast period.
Furthermore, positive change in living standards and an improving macroeconomic scenario have led to a significant surge in the number of organized retail stores, worldwide. The rapid growth of the organized retail sector characterized by the rising number of supermarkets, hypermarkets, etc., is projected to drive the growth of the overall food chain, which, in turn, is estimated to boost the sales of commercial refrigeration compressors for refrigerated display cases and other refrigeration equipment. The commercial refrigeration compressors market is expected to grow at a promising rate during the forecast period, supported by the increasing number of retail stores across the globe.