International. Global demand for commercial refrigeration equipment would increase 4.4% annually to reach $32 billion in 2016, compared to $29.1 billion in 2012.
The analysis published by Global Information says that this market is recovering from the recession suffered between 2007 and 2009 and that its improvement is due to several factors, including constantly evolving technology, structural changes in food consumption, the growth of international food trade, emerging supermarkets and fast food chains and the increase in global exports of processed foods such as horticultural and seafood.
The refrigerated transport segment has the largest market share (18.8%), representing revenues of US$5.4 billion, due to an increase in international food trade. The sector expects to be worth US$10.2 billion in 2018, with a compound annual growth rate (CAGR) of 11.11% from 2012 to 2018.
The list follows the refrigerators and freezers segment, which is estimated at $5.1 billion in 2012. In the broader application market, the food service sector currently has the highest percentage (32%), with revenues of $9.3 billion, and is estimated to reach $16.1 billion in 2018.
Strong growth is also expected in the food, beverage and distribution equipment market: around 9.8% annually in the period 2012-2018 and is estimated to reach US$10.2 billion in 2018.
