Latin American Industrial Refrigeration Equipment Market Expected to Grow

A recent market report revealed that the industrial refrigeration equipment market in Latin America is expected to grow. The report, published by Transparency Market Research, found that the need for refrigeration equipment will continue to increase as trade within the region grows.

According to a press release, "Latin America industrial refrigeration equipment market was valued at USD 431.8 million in 2012 and is forecast to grow at a CAGR of 6.5% from 2013 to 2019." That means by 2019, the market will reach a whopping $668.3 million.

What type of equipment will be needed? The long list includes:

•  Refrigeration systems
• Thermal panels
• Coils and condensors
• Parts (support products)

The market expansion will be driven in large part by rapid growth within the frozen foods market.

Geographically speaking, Brazil is expected to remain the "single largest market for Latin America industrial refrigeration equipment" due to the growth of beverage firms. Mexico is also showing fast growth.

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