Commercial Refrigeration Equipment study

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Commercial Refrigeration Equipment study
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Summary
US demand to rise 3 annually through 2018 US
demand for commercial refrigeration equipment is
expected to increase 3.0 percent per year through
2018 to 10.7 billion. Advances are driven by
general factors such as an improving capital
investment climate, as well as expected
accelerations in foodservice revenues and food
retail sales, two industries that are heavy users
of commercial refrigeration. Improving energy
efficiency in new equipment will continue to
drive sales as food industry participants --
entities with particularly narrow profit margins
-- seek to reduce operating costs. Greater
efficiency stems from the incorporation of
proximity sensors and light emitting diode (LED)
systems, and the greater use of enclosed systems.
The availability of such features retrofitted to
existing equipment will hamper gains to some
degree.
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Environmental mandates to drive replacement
sales Environmental regulations regarding
refrigerants play a key role in the commercial
refrigeration industry. Hydrochlorofluorocarbon
(HCFC)-22, also known as R-22, is currently
scheduled to phase out in stages with production
ending in 2020 because it contains ozonedepleting
chlorine. However, in October 2014, the US EPA is
scheduled to determine whether it will accelerate
that phaseout date to 2018. Although commercial
refrigeration equipment purchased after 2010
utilizes other refrigerants, much of the
equipment installed before then -- especially
display cases and liquid chillers -- runs on
R-22. The phaseout is expected to significantly
affect refrigeration equipment sales, since many
end users will replace their equipment as
supplies of R-22 become unavailable for charging,
since commercially available alternatives are not
optimal for most systems. 
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Hydrofluorocarbons (HFCs) are the most common
alternative to HCFC refrigerants however, HFCs
have a high global warming potential. Since the
typical grocery store has an average annual leak
rate of about 25 percent of its refrigerant,
there is concern within the industry that HFCs
might see greater regulation as well. Natural
refrigerants such as carbon dioxide, ammonia, and
propane are among the most environmentally
friendly alternatives and are seeing increasing
usage in new equipment. Transportation
refrigeration equipment to spur
gains Transportation refrigeration equipment,
which includes shipping containers, trailer
refrigeration systems, and truck refrigeration
systems, is the largest segment and will account
for the largest share of overall industry demand
growth through 2018. Sales gains for shipping
containers will be spurred by greater
opportunities for US based food producers in
foreign markets.
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Trailer and truck refrigeration systems will
benefit from further gains in medium and heavy
truck shipments, and rising interest in fresh
food products. Ongoing warehouse consolidation,
which extends the distances from warehouses to
consumers, also boosts demand for more
refrigerated trucks and trailers. Manufacturers
of commercial refrigeration equipment for the US
market vary from small, privately held firms to
large multinational corporations. However, two
companies -- United Technologies and
Ingersoll-Rand -- commanded more than one-fourth
of total US sales in 2013. Study coverage This
industry study, Commercial Refrigeration
Equipment, presents historical demand data (2003,
2008, 2013) plus forecasts for 2018 and 2023 by
market and product.
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Table Of Content

• EXECUTIVE SUMMARY 1
• II. MARKET ENVIRONMENT 4General 4Macroeconomic
  Environment 5Demographic Outlook 9
• III. MARKETS 43General 43New Aftermarket
  46Foodservice 48
• IV. PRODUCTS 70General 70Transportation
  Refrigeration Systems 73Shipping Container
  Systems 77Trailer Refrigeration 80

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