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World refrigeration market to expand

14 | 01 | 13

The global market for commercial catering equipment allowing businesses to refrigerate produce looks set to expand over the coming 12 months despite a decline in confidence among many restaurateurs, a new report has claimed.

According to Euromonitor, strong growth in developing nations such as Asia will see demand for refrigerators soar over the next few years, rising by 4.4 per cent on a global basis.

China and India will continue to be the fastest growing national markets for commercial refrigeration equipment, while the US will recover from a slump in sales seen during the recessionary period between 2007 and 2009, and the UK will also play a part in the industry's sales boost.

This follows China playing a major role in growth over the last few years, with the infrastructure investment seen in the Asian nation placing it at the centre of expansion for the refrigeration sector.

It was "by the far the fastest growing world market for commercial refrigeration products between 2001 and 2011, posting double-digit annual growth rates and more than quadrupling in size over those ten years", according to the report.

Despite the fact that India currently has a relatively small level of demand for refrigeration equipment, Euromonitor predicted that the country's attempts to improve its infrastructure over the coming years will see it invest further in these products, with Thailand and Indonesia also set to grow.

"Sales of reach-in and walk-in coolers and freezers will benefit from gains among food retailers in restaurants, particularly in developing countries," the company added.

Display cases are also likely to sell well as standards of living increase across countries such as China, while ice machines and beverage coolers could also become more popular.

ACR News reported last year that supermarkets across the UK were purchasing more system components and controls for hydrocarbon and CO2 refrigerants as a move towards a more natural approach to cooling produce.ADNFCR-16001031-ID-801521437-ADNFCR

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