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.