In addition, food industry participants will be more willing to make equipment upgrades that had been deferred due to a weak economy. Japan was the third largest market for commercial refrigeration equipment in 2011, but has declined in size since 2006, reflecting both poor economic conditions and the maturity of the market.
Demand for commercial refrigeration products in Japan is forecast to return to positive growth through 2016, but gains will be significantly slower than the world average.
Coolers, freezers, display cases to be among fastest growing products
Sales of reach-in and walk-in coolers and freezers will benefit from gains among food retailers in restaurants, particularly in developing countries. Growth in demand for refrigerated display cases will be rapid as well, supported by rising standards of living and increasing proliferation of large food retailers.The growing number of restaurants, particularly in the fast food segment, will also spur stronger gains in demand for beverage refrigeration equipment and ice machines. Vending machine gains will be somewhat slower, reflecting the concentration of vending machine usage in developed countries. Study coverage Details on these and other findings are available in the upcoming Freedonia industry study, World Commercial Refrigeration Equipment, is available for $6200. It presents historical demand data (2001, 2006 and 2011) plus forecasts for 2016 and 2021 by product, world region and for 21 major countries. The study also assesses market environment factors, evaluates company market share, and profiles global industry competitors such as including Hoshizaki, Ingersoll-Rand, Manitowoc and United Technologies. TABLE OF CONTENTS INTRODUCTION xiii I. EXECUTIVE SUMMARY 1 II. MARKET ENVIRONMENT 4 General 4 World Population Outlook 5 World Urbanization Patterns 7 World Economic Overview 9 Recent Historical Trends 10