Abstract
US demand to rise 4.6% annually through 2016
Demand for commercial refrigeration equipment in the US is forecast to
increase 4.6 percent per year to $9.4 billion in 2016. Growth will result from
improvements in capital investment and nonresidential construction
expenditures. In addition, a positive outlook for the broader US economy will
encourage end users such as fleet operators and retailers to both expand
existing operations and replace aging equipment. Food industry efforts to
reduce operating costs, a byproduct of narrow profit margins, will create
opportunities for suppliers of energy efficient equipment.
Transportation refrigeration to remain largest segment
Transportation refrigeration equipment will remain the largest commercial
refrigeration equipment type, benefiting from the positive outlook for capital
investment. In addition, product innovations such as hybrid electric systems
and products that utilize natural refrigerants like carbon dioxide will
stimulate sales. Ice machines will also record above average growth due to
increased construction of hotels and motels, which are major end users of this
equipment. Additionally, ice machines will benefit from the rising number of
foodservice establishments and from technical innovations like remote
monitoring.
New equipment sales to outpace aftermarket
Gains in all markets will benefit from users' desire to increase efficiency
due to the narrow profit margins throughout the food industry. Aftermarket
sales of commercial refrigeration equipment -- repairs and replacements --
accounted for 73 percent of demand in 2011 and will continue to comprise the
majority of demand. Gains, however, will lag those of new equipment due to
expansion efforts by food industry participants.
Food, beverage distribution to be fastest growing market
Food and beverage distribution in the US is expected to post the most rapid
growth of any commercial refrigeration equipment market through 2016,
increasing at a yearly rate of 5.9 percent. Gains in the distribution market
will result from increased spending on equipment by fleet operators.
Foodservice will remain the largest market for commercial refrigeration
equipment as US consumers continue to spend around one-half of their food
budgets outside the home. Food production will continue to benefit from
increased trade in food and beverages, as well as from expansions and
renovations of food production facilities. Advances in the retail market will
come from a rising number of food stores. In addition, the average amount of
floor space at food retail establishments will increase, creating new sales
opportunities for commercial refrigeration equipment.
US shipments to grow 4% annually through 2016
Shipments of commercial refrigeration equipment from US facilities are
projected to grow 4.0 percent per annum through 2016 to $8.6 billion.
Competition from imports will cause growth in shipments to lag demand gains.
The US has become a net importer of commercial refrigeration equipment, as
many of the leading manufacturers have moved production facilities overseas to
reduce labor costs, reflecting a trend in the broader heating, ventilating,
and air conditioning (HVAC) industry.
Study coverage
This upcoming Freedonia industry study, Commercial Refrigeration Equipment,
presents historical demand data (2001, 2006 and 2011) plus forecasts for 2016
and 2021 by market and product. The study also considers market environment
factors, evaluates company market share, and profiles 39 industry competitors,
including Dover, Hussmann, Ingersoll-Rand, Lennox, Manitowoc and United
Technologies.
Table of Contents
INTRODUCTION
I. EXECUTIVE SUMMARY
II. MARKET ENVIRONMENT
- General
- Macroeconomic Environment
- Personal Income & Expenditure Trends
- Nonresidential Building Construction
- Office & Commercial Construction
- Institutional Construction
- Industrial Construction
- Transportation & Other Construction
- Retail Sales
- Food & Beverage Industry Trends
- Pricing
- Historical Market Trends
- Regulatory & Environmental Issues
- Technology
- World Commercial Refrigeration Equipment Trends
- US Foreign Trade
III. MARKETS
- General
- New vs. Aftermarket
- Foodservice
- Foodservice Industry Overview
- Commercial Refrigeration Equipment Demand
- Food & Beverage Retail
- Food & Beverage Retail Overview
- Commercial Refrigeration Equipment Demand
- Food & Beverage Distribution
- Food & Beverage Distribution Industry Overview
- Commercial Refrigeration Equipment Demand
- Food & Beverage Production
- Food & Beverage Production Overview
- Commercial Refrigeration Equipment Demand
- Other
IV. PRODUCTS
- General
- Transportation Refrigeration Systems
- Shipping Container Systems
- Trailer Refrigeration
- Truck Refrigeration Systems
- Refrigerators & Freezers
- Reach-In Refrigerators & Freezers
- Walk-In Refrigerators & Freezers
- Beverage Refrigeration Equipment
- Soda Fountain Equipment
- Drinking Fountains
- Beverage Cooling & Dispensing Equipment
- Beer Dispensing Equipment
- Display Cases
- Normal Temperature Display Cases
- Low Temperature Display Cases
- Ice Machines
- Refrigerated Vending Machines
- Other
- Cryogenic Equipment
- Liquid Chillers
- All Other Commercial Refrigeration Equipment
- Refrigeration Equipment Parts
V. INDUSTRY STRUCTURE
- General
- Market Share
- Product Development & Manufacturing
- Marketing & Distribution
- Mergers & Acquisitions
- Cooperative Agreements
COMPANY PROFILES
- Air Products and Chemicals Incorporated
- Alliance Compressors, see Emerson Electric, Ingersoll-Rand and Lennox
- American Foodservice, see Standex
- Bally Refrigerated Boxes Incorporated
- Beverage-Air, see United Technologies
- Carlyle Compressor, see United Technologies
- Carrier, see United Technologies
- Coin Acceptors Incorporated
- Crane Company
- Daikin Industries Limited
- Delfield, see Manitowoc
- Dover Corporation
- Dunham-Bush Holding Berhad
- Elkay Manufacturing Company
- Embraco North America, see Whirlpool
- Emerson Electric Company
- Empresa Brasileira de Compressores, see Whirlpool
- Federal Industries, see Standex
- FES Systems, see GEA Group
- GEA Group AG
- Grindmaster-Cecilware Corporation
- Hartford Compressors, see Dunham-Bush
- Hill PHOENIX, see Dover
- Hoshizaki Electric Company Limited
- Hussmann International Incorporated
- Ice-O-Matic, see Scotsman
- Illinois Tool Works Incorporated
- IMI plc
- Ingersoll-Rand plc
- International Cold Storage, see United Technologies
- Johnson Controls Incorporated
- Kairak, see Illinois Tool Works
- Kool Star, see Standex
- Kysor/Warren, see Lennox
- Leer Incorporated
- Lennox International Incorporated
- Manitowoc Company Incorporated
- Master-Bilt Products, see Standex
- Masterflux, see Tecumseh
- McQuay International, see Daikin
- Metalfrio Solutions SA
- Mueller (Paul) Company
- Nor-Lake, see Standex
- Oasis International Incorporated
- Panasonic Corporation
- Parker-Hannifin Corporation
- Perlick Corporation
- Polar King International Incorporated
- Praxair Incorporated
- PROCON Products, see Standex
- Royal Vendors, see Coin Acceptors
- San Joaquin Valley Dairy Equipment, see GEA Group
- Sanden Corporation
- SANYO, see Panasonic
- Scotsman Industries Incorporated
- Source Refrigeration & HVAC Incorporated
- SPX Corporation
- Standex International Corporation
- Taylor, see United Technologies
- Tecumseh Products Company
- Thermo Fisher Scientific Incorporated
- Thermo King, see Ingersoll-Rand
- Trane, see Ingersoll-Rand
- Traulsen, see Illinois Tool Works
- True Manufacturing Company Incorporated
- Unified Brands, see Dover
- United Technologies Corporation
- Whirlpool Corporation
- Zero Zone Incorporated
- Other Companies Mentioned in Study
LIST OF TABLES
SECTION I -- EXECUTIVE SUMMARY
SECTION II -- MARKET ENVIRONMENT
- 1 Macroeconomic Indicators
- 2 Personal Consumption Expenditures
- 3 Nonresidential Building Construction Expenditures
- 4 Retail Sales
- 5 Food & Beverage Shipments
- 6 Commercial Refrigeration Equipment Market, 2001-2011
- 7 US Foreign Trade in Commercial Refrigeration Equipment
SECTION III -- MARKETS
- 1 Commercial Refrigeration Equipment Demand by Market
- 2 New & Aftermarket Demand for Commercial Refrigeration
- Equipment
- 3 Foodservice Revenues
- 4 Foodservice Market for Commercial Refrigeration Equipment by Sector &
Type
- 5 Food & Beverage Retail Indicators
- 6 Food & Beverage Retail Market for Commercial Refrigeration Equipment
- 7 Food & Beverage Distribution Market for Commercial Refrigeration
Equipment
- 8 Food & Beverage Shipments
- 9 Food & Beverage Production Market for Commercial Refrigeration Equipment
- 10 Other Markets for Commercial Refrigeration Equipment
SECTION IV -- PRODUCTS
- 1 Commercial Refrigeration Equipment Supply & Demand
- 2 Transportation Refrigeration System Supply & Demand
- 3 Shipping Container System Demand
- 4 Trailer Refrigeration Equipment Demand
- 5 Truck Refrigeration System Demand
- 6 Refrigerator & Freezer Supply & Demand
- 7 Reach-In Refrigerator & Freezer Supply & Demand
- 8 Walk-In Refrigerator & Freezer Supply & Demand
- 9 Beverage Refrigeration Equipment Supply & Demand
- 10 Soda Fountain Equipment Supply & Demand
- 11 Drinking Fountain Supply & Demand
- 12 Beverage Cooling & Dispensing Equipment Supply & Demand
- 13 Beer Dispensing Equipment Shipments
- 14 Display Case Supply & Demand
- 15 Normal Temperature Display Case Supply & Demand
- 16 Low Temperature Display Case Supply & Demand
- 17 Ice Machine Supply & Demand
- 18 Refrigerated Vending Machine Supply & Demand
- 19 All Other Commercial Refrigeration Equipment Supply & Demand
- 20 Cryogenic Equipment Supply & Demand
- 21 Liquid Chiller Supply & Demand
- 22 All Other Commercial Refrigeration Equipment Supply & Demand
- 23 Commercial Refrigeration Equipment Parts Supply & Demand
SECTION V -- INDUSTRY STRUCTURE
- 1 US Commercial Refrigeration Equipment Sales by Company, 2011
- 2 Selected Acquisitions & Divestitures
LIST OF CHARTS
SECTION II -- MARKET ENVIRONMENT
- 1 US Commercial Refrigeration Equipment Exports by Destination, 2011
- 2 US Commercial Refrigeration Equipment Imports by Source, 2011
SECTION III -- MARKETS
- 1 Commercial Refrigeration Equipment Demand by Market, 2011
- 2 Commercial Refrigeration Equipment Industry Flowchart
SECTION V -- INDUSTRY STRUCTURE
- 1 Commercial Refrigeration Equipment Market Share, 2011
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