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North American Refrigeration Controls Markets
Frost & Sullivan, March 2006
This Frost & Sullivan research service entitled North American Refrigeration Controls Market analyzes the drivers and restraints, discusses the competitive factors, market shares, and technology trends. It also reviews major strategic opportunities for success in the market and provides revenue forecasts. In this research service, Frost & Sullivan's expert analysts thoroughly examine the commercial and industrial refrigeration controls markets.
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
- Commercial refrigeration controls
- Industrial refrigeration controls
Market Overview
Increasing Demand from the Commercial Refrigeration Controls Market to Stabilize Revenues
The North American refrigeration controls market is expected to witness slow but steady growth rates from 2006-2012, largely due to the rising demand from the commercial market. Although this segment has always been the top contributor to revenues, its share is likely to rise from 80.0 percent of the total market in 2006 to 84.1 percent by 2012. In addition to high operating costs, stress on energy conservation, and increasing awareness about food quality, the competition among supermarkets chains is the key factor driving growth in the commercial segment.
Competition is high in the food service industry across North America and drives many major supermarket chains to continuously update their existing refrigeration control systems, explains the analyst of this research service. This has resulted in supermarkets breaking the more traditional product life cycle for replacement by creating premature investments for new systems. While price is expected to be the prime purchase criterion in the commercial segment, the industrial sector allows manufacturers to promote products based on the life cycle value, technical assistance, and customer services.
Constant Demand from Retrofit Market Propels Sales of Refrigeration Controls
Economic revival and the increasing stress on food safety are having a positive impact on the North American refrigeration controls market. Developing an ideal solution for the retrofit market needs to take top priority among market participants. End users, especially in the food retail market, are demanding energy-efficient systems that enhance utilization, efficiency, and cost savings.
The focus on energy savings is crucial since refrigeration appliances consume 20 to 50 percent of the electricity in supermarkets and are responsible for considerable operation as well as maintenance costs. According to the Food Marketing Institute, utility costs are among the top expenses for supermarkets, says the analyst. Moreover, in order to meet regular electricity requirements and to help combat rising costs, many supermarkets use forward buying to hedge energy prices and enter into long-term, fixed-rate contracts for their various regional locations.
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