Ongoing industrialization and food retail modernization efforts in many of the world’s developing countries, such as China and India, will help grow the global commercial refrigeration equipment market to $38 billion in 2018.
“Refrigeration = boring.” That’s what a friend emailed back to me when I told her that I had become the refrigeration editor of The ACHR NEWS. I had to laugh because most people really don’t understand the myriad ways in which refrigeration is important to their lives.
Intertek has expanded investments in new testing capabilities and capacity in North America to enhance its breadth of services in support of the refrigeration industry. With total investments of more than $20 million over the past three years, Intertek offers a broad range of laboratory testing services.
The Manitowoc Co. Inc. announced that its board of directors has approved a plan to pursue a separation of the company’s Cranes and Foodservice businesses into two independent, publicly-traded companies. The Foodservice business includes ice machines and refrigeration equipment.
Global demand for commercial refrigeration equipment is forecast to increase 4.7 percent annually through 2018 to $36.5 billion, according to a new study from The Freedonia Group Inc., a Cleveland-based market research firm. Advances will be bolstered in large part by ongoing industrialization efforts in many of the world’s developing countries.
Contractors and technicians involved in refrigeration work could be seeing a step up in business. In a report issued in mid-2014, a research company called The Freedonia Group said that demand for commercial refrigeration equipment in the United States is expected to increase 3.1 percent per year through 2018 to $10.7 billion.
For service technicians and contractors, the key is to be aware of next-generation equipment coming down the road, any differing servicing techniques that might be required, and the fact that like-for-like equipment may not be easily changed out, even if a customer requests it.