In its new study, ESOMAR-certified market research and consulting firm Future Market Insights (FMI) offers insights about key factors fueling the demand for Refrigerated Display Cases. The report tracks the global sales of Refrigerated Display Cases in 20+ high-growth markets, along with analyzing the impact COVID-19 has had on the manufacturing and retail industry in general.
To remain ‘ahead’ of your competitors, request for a sample @
What are the Historical and Future Prospects for Refrigerated Display Cases Market?
According to the report, the global refrigerated display cases market has seen a steady and continuous rise in the demand in the retail food and beverage sector. This is common trend observed in both developed and developing countries owing to high growth in number of retail outlets. Moreover, based on design, vertical/multideck RDC segment is likely to grow at rapid pace particularly in the food and beverage industry.
Other equipment manufacturers or OEMs have been facing challenges in terms of compliance of refrigerant regulation implemented by various government organizations. Manufacturing of low global warming potential (GWP) refrigerant has always been one of the prime concerns of researchers, which in turn is creating difficulties for end-use industries. Hence manufacturers are concentrating on more sustainable options for providing industry specific applications to fulfil the consumer requirements. According to FMI’s analysis, refrigerated display cases sales have grown at 1.5% CAGR between 2016 and 2020.
Urbanization has significantly increased dependence on storage and transportation of food & beverages. Customers are looking for food services that can complement their fast-paced lifestyle, which has caused increase in the number of quick service restaurants. This has been a key factor creating growth opportunities for refrigerated display cases sales.
For critical insights on this market, request to ask an expert here @
Also the expansion of retail sector, including supermarkets, hypermarkets and convenience stores will create growth opportunities. These sales channels require proper utilization of space and at the same time maintenance of the interior environment. This has pushed the demand for refrigerated display cases with remotely located condensers so that there is no heat dissipation in the store interior and at the same time more storage space is available.
Owing to the ongoing crisis caused by COVID-19 pandemic, the production and supply chain activities have seen a minor set-back yet the demand will improve with the economic recuperation post the period of curbs following the pandemic. The COVID-19 pandemic has caused severe impact on the global economy at various levels and the impact is seen on retail industry as well. The refrigerated display cases market growth is also projected to be affected by the COVID-19 pandemic crisis and is expected to witness a significant plunge in demand in 2020.
With a number of project and order cancellations in regions like Europe, East Asia and South Asia-Pacific, the supply and shortage in demand are expected to result in a significant drop in Y-O-Y growth yet FMI expects global Refrigerated Display Cases Market to grow at 5.5% CAGR through 2031.
Will Emerging Applications in Quick Service Restaurants Influence Demand?
Increasing urbanization has significantly increased dependence on storage and transportation of food & beverages. Moreover, substantial increase in the number of quick service restaurants worldwide is lucrative high growth opportunities for the market.
Rising per capita income and urbanization, increased participation of women in the workforce are some of the key factors leading to growing demand for QSRs, followed by casual dining. In India and China, in particular, the quick service restaurant industry is thriving, which will also spearhead the sales of refrigerated display cases in these countries.
Why R&D is Key to Market Consolidation?
Leading manufacturers in the global refrigerated display cases market are significantly investing in research and development activities to manufacture more advanced and energy efficient products. Competitive price offering, increase in end user satisfaction on the performance, use of advanced technologies are some of the key trends encouraging research and development activities.
Increasing research and development activities through collaboration or partnerships with local manufacturers and distributors also will help manufacturers to strengthen their footprint. Establishing supply chain networks in emerging countries coupled with long term partnerships with regional distributors plays pivotal role for the diversification of channel reach. These strategic tie-ups will not only help market players to expand their footprint but will create a conducive environment to conduct research initiatives.
For More Information or Query or Customization Before Buying, Visit:
The refrigerated display cases market is a highly competitive market owing to presence of a large number of manufacturers. The leading players account for more than two third of the global market share. Some of the players are focusing to carve a niche for particular penetrated area. There is also immense focus on innovation and product launches.
Some of the leading companies operating in the market are:
- 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.
*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis available in the report.