Headline News Volume 696
eJARN.com Headline News
Date: Sep 27, 2023, Volume 696
( http://www.ejarn.com )
< Sep Special edition>
1. World Refrigeration Equipment Market in 2022 - OVERVIEW
In 2022, global commercial refrigeration equipment market suffered an ongoing slump due to the impact of inflation. However, there were some bright spots: several sectors that performed well in 2022 have boosted the demand for industrial refrigeration equipment. This includes healthcare, information technology (IT), e-commerce, renewable energy, and electric vehicles (EVs). These sectors relied on digital services, online shopping, clean energy, and low-emission transportation during the pandemic, enabling the industrial refrigeration equipment market to achieve double-digit growth. The transportation refrigeration equipment market also performed well.
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JARN estimates that the European commercial refrigeration market in 2022 decreased by about 3.8% in terms of average value across all regions. Demand for refrigeration equipment in hotels, restaurants, and cafés (HoReCa), as well as food region and; the impact of the pandemic that has increased the need for products requiring cold storage, such as medical supplies and vaccines; and the implementation of regulations and incentives for low temperature logistics that aim to protect the environment and save energy.
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3. UNITED STATES
The U.S. cold chain market had strong growth in 2021 as the economy recovered from the pandemic and demand for commercial refrigeration equipment increased. The year 2022 saw ongoing growth, but at a slower pace. Commercial real estate service provider JLL released the U.S. grocery store tracker report 2022, which shows that grocers faced various challenges and changes in 2022 as consumers shifted their preferences and changed behavior amid inflation and supply chain issues. The U.S. grocery market grew by 3.4% in 2022, reaching US$ 830 billion in sales, but the growth rate was slow compared with the previous two years.
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The Chinese cold chain logistics market is in a rapid development phase and is estimated to have reached RMB 637.1 billion (about US$ 94.3 billion) in 2022, with a year-on-year increase of 11.8%, and is expected to reach RMB 868.6 billion (about US$ 128.6 billion) in 2025, according to data from the Cold Chain Logistics Committee of China Federation of Logistics and Purchasing (CFLP).
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5. Panasonic Connects Global Cold Chain with Natural Refrigerants
JARN interviewed Yasuyuki Tsuchiya, vice president of Panasonic Cold Chain Solutions (CCS) Company, director of CCS Company’s Cold Chain Business Division, and vice president of Panasonic Commercial Equipment Systems, to hear about CCS Company’s new business structure, medium- to long-term business strategy, environment-friendly products, new symbol mark, slogan, and others.
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