The commercial refrigeration market is booming and is expected to experience substantial growth over the coming years. It’s even been estimated that by the end of 2022, the market will have reached a worth of $30billion globally!
There’s no denying that commercial refrigeration plays an essential part of many businesses and there are a few trends currently happening that will see it continue to grow in the future.
One of the main drivers of this growth is increased demand for fast moving consumer goods such as pre-packaged food and beverages that require constant refrigeration to maintain freshness. These products typically have short shelf lives so need to be moved on fast, and as developing countries begin to offer these goods, the demand for them increases rapidly.
Energy-efficient refrigeration is also a major trend at the moment, as the world looks to cut down on energy usage whilst still operating systems to their full potential. Energy waste is a major concern worldwide; not only does this cost excessive money but it also has negative impacts on our planet and lives. As more and more supermarkets open throughout Europe and developing countries, more energy is going to be used to operate equipment. Energy-efficient refrigeration is therefore extremely important and we can expect to continue to see advances made in this area in the near and far future!
As the world becomes more interconnected, food produce is being shipped all over the globe via shipping units and cooled lorry containers etc. As technology continues to advance, we can expect to see global food trade grow, and therefore further demand for on-the-go refrigeration. It’s often much more cost-effective for countries to import certain goods than to produce them, so we can expect to see the demand for these types of refrigeration systems to continue to grow.
The Asia-Pacific market is experiencing significant development in the commercial refrigeration sector due to growing populations and increased demand. With more people to feed and more demand for on-the-go goods, refrigeration is expected to become an invaluable asset. Urbanisation plays a huge role in this increased demand – with more people residing in cities there is a need for more supermarkets and restaurants. As these businesses grow, so does the need for refrigeration.
The refrigeration market in 10 years time will likely look very different to how it does now, with technologies continuing to advance and demand continuing to increase.