According to research from The Freedonia Group, Inc., U.S. demand for commercial refrigeration equipment is expected to increase 5.5 percent per year through 2008, reaching U.S. $8.6 billion.
The research firm says that the food and beverage retail market will post the highest gains in the commercial refrigeration market due to the rising number of food retailers in the U.S. The food retail segment is expected to reach $2.2 billion by 2008. Restaurants and other food service venues accounted for over 40 percent of food and beverage spending in 2003 and is expected to reach $2.0 billion by 2008.
Commercial refrigeration products expected to experience the best growth are cryogenic equipment, display cases, and beverage refrigeration equipment. Freedonia says cryogenic equipment will benefit from the rising level of expenditures on health care in the U.S., in addition to increasing medical and scientific research. Display cases will benefit from the need of retailers to maintain new displays to encourage purchases. In addition, the rising number of grocery stores is expected to help the segment reach $2.5 billion by 2008.
to Daily News