Commercial Refrigeration Equipment

As Quoted In Contracting Business

Growth in capital investment and nonresidential construction expenditures, plus food industry efforts to reduce operating costs, will benefit US commercial refrigeration equipment demand.

US demand to grow 4.6% per year through 2016

US demand for commercial refrigeration equipment is forecast to rise 4.6 percent per year to $9.4 billion in 2016. Growth will result from improvements in capital investment and nonresidential construction expenditures. A positive outlook for the broader US economy will also encourage end users such as retailers and fleet operators 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.

Aftermarket sales to remain dominant

Aftermarket sales of commercial refrigeration equipment, which consist of both repairs and products purchased to replace existing equipment, accounted for 73 percent of demand in 2011 and will continue to comprise the majority of demand. Food and beverage distribution is expected to post the fastest growth of any commercial refrigeration equipment market through 2016, rising at a yearly rate of 5.9 percent. Foodservice will remain the largest market for commercial refrigeration equipment, as Americans continue to spend around 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. Gains in the retail market will come from a rising number of food stores. Furthermore, the average amount of floor space at food retail establishments will similarly increase, creating added floor space for commercial refrigeration equipment.

Transportation refrigeration to remain largest equipment type

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.

Growth in shipments to lag US demand gains

Shipments of commercial refrigeration equipment from US facilities are forecast to grow 4.0 percent per annum through 2016 to $8.6 billion. Competition from imports in both domestic and overseas markets 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.

Study Scope

This study analyzes the $7.5 billion US commercial refrigeration equipment industry. It presents historical demand data for the years 2001, 2006 and 2011, and forecasts for 2016 and 2021 by market (e.g., foodservice, food and beverage retail, food and beverage distribution, food and beverage production) and product (e.g., transportation refrigeration systems, refrigerators and freezers, beverage refrigeration equipment, display cases, ice machines, refrigerated vending machines).

The study also considers market environment factors, details industry structure, evaluates company market share and profiles 39 industry players, including United Technologies, Ingersoll-Rand and Manitowoc.

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  1. Commercial Refrigeration Equipment

    $4,900.00

    1. 1 INTRODUCTION

      $124.00

    2. 2 EXECUTIVE SUMMARY

      $171.00

      1. Table | COMMERCIAL REFRIGERATION EQUIPMENT SUPPLY & DEMAND (million dollars)

    3. 3 MARKET ENVIRONMENT

      $1,986.00

      1. 3.1 General

        $82.00

      2. 3.2 Macroeconomic Environment

        $232.00

        1. Table | MACROECONOMIC INDICATORS (billion 2005 dollars)

      3. 3.3 Personal Income & Expenditure Trends

        $185.00

        1. Table | PERSONAL CONSUMPTION EXPENDITURES (billion dollars)

      4. 3.4 Nonresidential Building Construction

        $239.00

        1. Table | NONRESIDENTIAL BUILDING CONSTRUCTION EXPENDITURES (billion dollars)

        2. 3.4.1 Office & Commercial Construction

          $82.00

        3. 3.4.2 Institutional Construction

          $82.00

        4. 3.4.3 Industrial Construction

          $82.00

        5. 3.4.4 Transportation & Other Construction

          $82.00

      5. 3.5 Retail Sales

        $246.00

        1. Table | RETAIL SALES (billion dollars)

      6. 3.6 Food & Beverage Industry Trends

        $203.00

        1. Table | FOOD & BEVERAGE SHIPMENTS (billion dollars)

      7. 3.7 Pricing

        $82.00

      8. 3.8 Historical Market Trends

        $98.00

        1. Table | COMMERCIAL REFRIGERATION EQUIPMENT MARKET, 2001-2011

      9. 3.9 Regulatory & Environmental Issues

        $267.00

      10. 3.10 Technology

        $106.00

      11. 3.11 World Commercial Refrigeration Equipment Trends

        $92.00

      12. 3.12 US Foreign Trade

        $208.00

        1. Table | US FOREIGN TRADE IN COMMERCIAL REFRIGERATION EQUIPMENT (million dollars)

        2. 3.12.1 Exports

          $82.00

        3. 3.12.2 Imports

          $82.00

    4. 4 MARKETS

      $1,497.00

      1. 4.1 General

        $143.00

        1. Table | COMMERCIAL REFRIGERATION EQUIPMENT DEMAND BY MARKET (million dollars)

      2. 4.2 New vs. Aftermarket

        $98.00

        1. Table | NEW & AFTERMARKET DEMAND FOR COMMERCIAL REFRIGERATION EQUIPMENT (million dollars)

      3. 4.3 Foodservice

        $361.00

        1. 4.3.1 Foodservice Industry Overview

          $192.00

          1. Table | FOODSERVICE REVENUES (billion dollars)

        2. 4.3.2 Commercial Refrigeration Equipment Demand

          $138.00

          1. Table | FOODSERVICE MARKET FOR COMMERCIAL REFRIGERATION QUIPMENT BY SECTOR & TYPE (million dollars)

      4. 4.4 Food & Beverage Retail

        $281.00

        1. 4.4.1 Food & Beverage Retail Overview

          $82.00

          1. Table | FOOD & BEVERAGE RETAIL INDICATORS

        2. 4.4.2 Commercial Refrigeration Equipment Demand

          $164.00

          1. Table | FOOD & BEVERAGE RETAIL MARKET FOR COMMERCIAL REFRIGERATION EQUIPMENT (million dollars)

      5. 4.5 Food & Beverage Distribution

        $265.00

        1. 4.5.1 Food & Beverage Distribution Industry Overview

          $98.00

        2. 4.5.2 Commercial Refrigeration Equipment Demand

          $145.00

          1. Table | FOOD & BEVERAGE DISTRIBUTION MARKET FOR COMMERCIAL REFRIGERATION EQUIPMENT (million dollars)

      6. 4.6 Food & Beverage Production

        $258.00

        1. 4.6.1 Food & Beverage Production Overview

          $154.00

          1. Table | FOOD & BEVERAGE SHIPMENTS (billion dollars)

        2. 4.6.2 Commercial Refrigeration Equipment Demand

          $82.00

          1. Table | FOOD & BEVERAGE PRODUCTION MARKET FOR COMMERCIAL REFRIGERATION EQUIPMENT (million dollars)

      7. 4.7 Other

        $91.00

        1. Table | OTHER MARKETS FOR COMMERCIAL REFRIGERATION EQUIPMENT (million dollars)

    5. 5 PRODUCTS

      $2,555.00

      1. 5.1 General

        $116.00

        1. Table | COMMERCIAL REFRIGERATION EQUIPMENT SUPPLY & DEMAND (million dollars)

      2. 5.2 Transportation Refrigeration Systems

        $428.00

        1. Table | TRANSPORTATION REFRIGERATION SYSTEM SUPPLY & DEMAND (million dollars)

        2. 5.2.1 Shipping Container Systems

          $85.00

          1. Table | SHIPPING CONTAINER SYSTEM DEMAND (million dollars)

        3. 5.2.2 Trailer Refrigeration

          $83.00

          1. Table | TRAILER REFRIGERATION EQUIPMENT DEMAND (million dollars)

        4. 5.2.3 Truck Refrigeration Systems

          $82.00

          1. Table | TRUCK REFRIGERATION SYSTEM DEMAND (million dollars)

      3. 5.3 Refrigerators & Freezers

        $312.00

        1. Table | REFRIGERATOR & FREEZER SUPPLY & DEMAND (million dollars)

        2. 5.3.1 Reach-In Refrigerators & Freezers

          $116.00

          1. Table | REACH-IN REFRIGERATOR & FREEZER SUPPLY & DEMAND (million dollars)

        3. 5.3.2 Walk-In Refrigerators & Freezers

          $119.00

          1. Table | WALK-IN REFRIGERATOR & FREEZER SUPPLY & DEMAND (million dollars)

      4. 5.4 Beverage Refrigeration Equipment

        $443.00

        1. Table | BEVERAGE REFRIGERATION EQUIPMENT SUPPLY & DEMAND (million dollars)

        2. 5.4.1 Soda Fountain Equipment

          $128.00

          1. Table | SODA FOUNTAIN EQUIPMENT SUPPLY & DEMAND (million dollars)

        3. 5.4.2 Drinking Fountains

          $82.00

          1. Table | DRINKING FOUNTAIN SUPPLY & DEMAND (million dollars)

        4. 5.4.3 Beverage Cooling & Dispensing Equipment

          $82.00

          1. Table | BEVERAGE COOLING & DISPENSING EQUIPMENT SUPPLY & DEMAND (million dollars)

        5. 5.4.4 Beer Dispensing Equipment

          $84.00

          1. Table | BEER DISPENSING EQUIPMENT SHIPMENTS (million dollars)

      5. 5.5 Display Cases

        $458.00

        1. Table | DISPLAY CASE SUPPLY & DEMAND (million dollars)

        2. 5.5.1 Normal Temperature Display Cases

          $143.00

          1. Table | NORMAL TEMPERATURE DISPLAY CASE SUPPLY & DEMAND (million dollars)

        3. 5.5.2 Low Temperature Display Cases

          $147.00

          1. Table | LOW TEMPERATURE DISPLAY CASE SUPPLY & DEMAND (million dollars)

      6. 5.6 Ice Machines

        $123.00

        1. Table | ICE MACHINE SUPPLY & DEMAND (million dollars)

      7. 5.7 Refrigerated Vending Machines

        $144.00

        1. Table | REFRIGERATED VENDING MACHINE SUPPLY & DEMAND (million dollars)

      8. 5.8 Other

        $461.00

        1. Table | ALL OTHER COMMERCIAL REFRIGERATION EQUIPMENT SUPPLY & DEMAND (million dollars)

        2. 5.8.1 Cryogenic Equipment

          $125.00

          1. Table | CRYOGENIC EQUIPMENT SUPPLY & DEMAND (million dollars)

        3. 5.8.2 Liquid Chillers

          $206.00

          1. Table | LIQUID CHILLER SUPPLY & DEMAND (million dollars)

        4. 5.8.3 All Other Commercial Refrigeration Equipment

          $86.00

          1. Table | ALL OTHER COMMERCIAL REFRIGERATION EQUIPMENT SUPPLY & DEMAND (million dollars)

      9. 5.9 Refrigeration Equipment Parts

        $82.00

        1. Table | COMMERCIAL REFRIGERATION EQUIPMENT PARTS SUPPLY & DEMAND (million dollars)

    6. 6 INDUSTRY STRUCTURE

      $4,931.00

      1. 6.1 General

        $145.00

        1. Table | US COMMERCIAL REFRIGERATION EQUIPMENT SALES BY COMPANY, 2011 (million dollars)

      2. 6.2 Market Share

        $200.00

      3. 6.3 Product Development & Manufacturing

        $125.00

      4. 6.4 Marketing & Distribution

        $111.00

      5. 6.5 Mergers & Acquisitions

        $134.00

        1. Table | SELECTED ACQUISITIONS & DIVESTITURES

      6. 6.6 Cooperative Agreements

        $82.00

      7. 6.7 Company Profiles

        $4,931.00

        1. 6.7.1 Air Products and Chemicals Incorporated

          $96.00

        2. 6.7.2 Bally Refrigerated Boxes Incorporated

          $123.00

        3. 6.7.3 Coin Acceptors Incorporated

          $105.00

        4. 6.7.4 Crane Company

          $132.00

        5. 6.7.5 Daikin Industries Limited

          $153.00

        6. 6.7.6 Dover Corporation

          $233.00

        7. 6.7.7 Dunham-Bush Holding Berhad

          $91.00

        8. 6.7.8 Elkay Manufacturing Company

          $82.00

        9. 6.7.9 Emerson Electric Company

          $296.00

        10. 6.7.10 GEA Group AG

          $211.00

        11. 6.7.11 Grindmaster-Cecilware Corporation

          $127.00

        12. 6.7.12 Hoshizaki Electric Company Limited

          $142.00

        13. 6.7.13 Hussmann International Incorporated

          $156.00

        14. 6.7.14 Illinois Tool Works Incorporated

          $182.00

        15. 6.7.15 IMI plc

          $129.00

        16. 6.7.16 Ingersoll-Rand plc

          $213.00

        17. 6.7.17 Johnson Controls Incorporated

          $125.00

        18. 6.7.18 Leer Incorporated

          $184.00

        19. 6.7.19 Lennox International Incorporated

          $220.00

        20. 6.7.20 Manitowoc Company Incorporated

          $449.00

        21. 6.7.21 Metalfrio Solutions SA

          $193.00

        22. 6.7.22 Mueller (Paul) Company

          $198.00

        23. 6.7.23 Oasis International Incorporated

          $163.00

        24. 6.7.24 Panasonic Corporation

          $185.00

        25. 6.7.25 Parker-Hannifin Corporation

          $82.00

        26. 6.7.26 Perlick Corporation

          $123.00

        27. 6.7.27 Polar King International Incorporated

          $87.00

        28. 6.7.28 Praxair Incorporated

          $131.00

        29. 6.7.29 Sanden Corporation

          $93.00

        30. 6.7.30 Scotsman Industries Incorporated

          $162.00

        31. 6.7.31 Source Refrigeration & HVAC Incorporated

          $82.00

        32. 6.7.32 SPX Corporation

          $82.00

        33. 6.7.33 Standex International Corporation

          $440.00

        34. 6.7.34 Tecumseh Products Company

          $126.00

        35. 6.7.35 Thermo Fisher Scientific Incorporated

          $236.00

        36. 6.7.36 True Manufacturing Company Incorporated

          $173.00

        37. 6.7.37 united Technologies Corporation

          $402.00

        38. 6.7.38 Whirlpool Corporation

          $82.00

        39. 6.7.39 Zero Zone Incorporated

          $96.00

      8. 6.8 Other Companies Mentioned in Study

        $82.00

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