Increasing refrigerated display cases sales are set to enable the market’s valuation to reach US$ 9.5 Bn in 2021. Future Market Insights (FMI) in a study has predicted stable long-term growth for the market. The report offers analysis in 20+ high-growth markets, providing detailed insights on Refrigerated Display Cases Market growth will evolve in the next decade.
The demand for refrigerated display case declined in 2020, due to the recessionary effects of COVID-19 on the food service sector activities. However, barring a few countries, the activities in food and beverage industry has resumed at a healthy rate post Q2 of the financial year.
With the sector undergoing a recovery mode, the immediate as well as long-term growth outlook of refrigerated display cases the market remains positive. According to the report, the retail food and beverages sector will continue accounting for over 70% of sales of refrigerated display cases through the forecast period.
Introduction of high performance and connected refrigerated display cases with real time cloud access and maintenance will create lucrative growth opportunities. In the coming years, the market also will gain from the launch of low GWP refrigerants aimed at lowering environmental challenges.
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- Expansion of the supermarkets and hypermarkets will remain a chief growth driver, enabling the market rise at 5.5% CAGR between 2021 and 2031
- Rising demand for ready-to-eat food is fuelling refrigerated display cases sales across supermarkets and hypermarkets in the U.S. The country is expected to account for over 70% of the North America market
- Expansion of the food service sector will enable growth in Germany and France
- The U.K. will emerge as a strong market, exhibiting 3.8% y-o-y growth in 2021 after a period of decelerating sales in 2020
- While China currently holds dominance, Japan will emerge as the leading market in East Asia backed by rising demand for packaged food
“Recent developments in food service and food retail sectors are creating lucrative prospects for the market. Consumers’ inclination towards add-on features like real time maintenance, remote access, and others is increasing, which is expected to give tailwinds to growth. In order to woo end users, manufacturers are therefore providing competitive price offering and advanced technologies,” says FMI analyst.
The implementation of stringent government norms and regulation on use of refrigerant for cooling is estimated to create high growth avenues for the refrigerated display case market. The increasing focus on eco-friendly and sustainable refrigerated display cases in developed and developing economies across the globe is creating growth opportunities.
The refrigerated display cases market is fairly competitive, with key players accounting over two third of the overall market value share. These players are likely to invest in new technology developments and expansion of their networks in order to maintain their market share. Some of the key players in the market are Carrier Corporation, Frigoglass SAIC, Epta S.p.a. Refrigeration, Dover Corporation, Haier Group, Arneg S.p.A, Illinois Tool Works, Daikin Industries, Ltd., Fagor Industrial, and others.
Refrigerated display case market is likely to grow at a moderate pace during 2021-2031. However, as it is a matured market, companies are expected to concentrate further on research and development activities. Collaboration, mergers and acquisition with regional companies will remain key strategies adopted by market players as they aim at expanding their footprint in regional market.
Get Valuable Insights into Refrigerated Display Cases Market Report
Future Market Insights, in its new offering, provides an unbiased analysis of the global refrigerated display cases market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The refrigerated display cases market study uncovers convincing bits of knowledge based on type (plug-in, semi plug-in, and remote), design (vertical, horizontal, and hybrid), and end user (food service sector and retail food and beverages sector) across six key regions.
Scope of the Report
|Historical Data Available for||2016-2020|
|Market Analysis||USD Million for Value and Kilotons for Volume|
|Key Regions Covered||North America, Latin America, Europe, East Asia, South Asia & Pacific, Middle East & Africa|
|Key Countries Covered||US, Canada, Germany, U.K., France, Italy, Spain, Russia, China, Japan, South Korea, India, ASEAN, Oceania, Turkey, Northern Africa, South Africa|
|Key Segments Covered||Type, End-Use, and Region.|
|Key Companies Profiled||Carrier Corporation Danfoss A/S Frigoglass SAIC Epta S.p.a. Refrigeration Dover Corporation Haier Group Arneg S.p.A Illinois Tool Works Daikin Industries, Ltd. Fagor Industrial CAREL INDUSTRIES S.p.A|
|Report Coverage||Market Forecast, Brand Share Analysis, Competition Intelligence, DROT analysis, Market Dynamics and Challenges, Strategic Growth Initiatives|
|Customization & Pricing||Available upon Request|
Key Questions Answered in the Report
- Which is the most lucrative market for Refrigerated Display Cases? Europe currently leads the global market for refrigerated display cases. Sales in Europe will account for nearly 25% of the total demand in global refrigerated display cases market between 2021 and 2031.
- Which is the top-selling type of Refrigerated Display Case? Remote refrigerated display are in high demand due to their versatile applications.
- Who is the leading End User of Refrigerated Display Cases? Refrigerated display cases are widely used in the retail food and beverage.
- Which are some of the leading companies providing Refrigerated Display Cases? Some of the leading companies manufacturing Refrigerated Display Cases are Carrier Corporation, Daikin Industries, Ltd., Danfoss A/S, Figoglass, Haier Group, etc.