ESCOMAR Certified Market Research and Consulting Firm Predicts Market Valuation to Reach US$ 10,766.1 million by 2033, Propelled by a 5.6% CAGR
Global Multi-Deck Refrigerated Display Cases Market Valuation Set to Scale New Heights
Future Market Insights (FMI), a leading ESCOMAR certified market research and consulting firm, has projected a promising future for the global multi-deck refrigerated display cases market. According to FMI’s estimations, the market is poised to attain a substantial valuation of US$ 6,243.38 million in 2023. The momentum is anticipated to surge ahead, with the revenue from sales of multi-deck refrigerated display cases predicted to surpass a remarkable valuation of US$ 10,766.1 million by the year 2033. This impressive growth trajectory is underpinned by a robust CAGR of 5.6%, spanning the period from 2023 to 2033.
Innovations Drive the Emergence of Multi-Deck Refrigerated Display Cases
In the quest for developing low global warming potential refrigerants, the refrigeration industry has encountered the challenge of downstream usability. In response, manufacturers have directed their efforts toward creating safer and more cost-effective solutions, which has led to the evolution of multi-deck refrigerated display cases. These innovations cater to specific industry requirements, promising enhanced efficiency and safety.
Urbanization Amplifies Demand for Multi-Deck Refrigerated Display Cases
The escalating demand for rapid access to food and beverages, fueled by urbanization, has fostered a surge in fast-food stores catering to on-the-go customers. This surge has spurred sales growth in fast-service restaurants and subsequently bolstered the demand for multi-deck refrigerated display cases. Moreover, the expansion of the retail sector, encompassing supermarkets, hypermarkets, and convenience stores, presents a fertile ground for growth. The need for optimal space utilization and interior environment maintenance has spurred the demand for multi-deck refrigerated display cases with remotely located condensers, offering both energy efficiency and enhanced storage capacity.
Asia Pacific Spearheading the Market Growth
The rapid urbanization in regions like Asia Pacific has significantly elevated the reliance on food and beverage storage and transportation. With growing per capita income, urbanization, and increased women’s workforce participation, the demand for quick-service restaurants, particularly in countries like India and China, has surged. This trend is poised to drive the sales of multi-deck refrigerated display cases in these nations.
United States Dominates with Steady Growth
Taking the lead with a substantial market share of 22.8%, the United States commands the global multi-deck refrigerated display cases industry. The United States market is on a trajectory of steady growth, characterized by the introduction of innovative products and the proliferation of a thriving supermarket culture. Additionally, the rising presence of hospitality (HoReCa) establishments further propels growth. Future Market Insights forecasts that the United States market is anticipated to surpass a revenue milestone of US$ 1,450 million by 2033.
Intense Competition Drives Innovation and Expansion
The market landscape for multi-deck refrigerated display cases is notably competitive and fragmented, with major players contending against numerous smaller competitors. Leading companies are vigorously expanding their market reach and optimizing market share. Simultaneously, smaller manufacturers are focusing on competitive pricing and heightened product efficiency to bolster their profit margins.
Recent years have witnessed heightened acquisition and expansion activities aimed at enhancing the supply chain of multi-deck refrigerated display cases. Various manufacturers are also investing in technology-driven advancements within the multi-deck refrigerated display case domain, resulting in the emergence of new players.
Evolving Industry Through Noteworthy Initiatives
Carrier Corporation signed a binding agreement to acquire Toshiba Corporation’s ownership stake in Toshiba Carrier Corporation (TCC), a variable refrigerant flow (VRF), and light commercial HVAC joint venture with Carrier, in February 2022.
Epta S.p.a. Refrigeration invested in Portugal by acquiring Eurocold, a company specializing in engineering, installation, and maintenance services in commercial and industrial refrigeration, in December 2021.
Frigoglass SAIC announced a new supply agreement for beverage coolers with Coca-Cola HBC AG until December 31, 2025, in 2021.
As the global multi-deck refrigerated display cases market continues to evolve, Future Market Insights remains committed to providing incisive insights and data-driven analyses, aiding industry stakeholders in making informed decisions in this dynamic landscape.
Key Players:
- Blue Star Limited
- Carrier Corporation
- Frigoglass SAIC
- Epta S.p.a. Refrigeration
- Dover Corporation
- Haier Group
- Arneg S.p.A
- Illinois Tool Works Inc.
- Daikin Industries, Ltd.
- Fagor Professional
Global Multi-Deck Refrigerated Display Cases Market by Category
By Type:
- Plug-In Multi-Deck Refrigerated Display Case
- Semi Plug-In Multi-Deck Refrigerated Display Case
- Remote Multi-Deck Refrigerated Display Case
By Width:
- Up to 4ft Multi-Deck Refrigerated Display Case
- 4 to 6ft Multi-Deck Refrigerated Display Case
- 6 to 10ft Multi-Deck Refrigerated Display Case
- Above 10ft Multi-Deck Refrigerated Display Case
By End-Use:
- Food Service Sector
- Quick Service Restaurants
- Bakeries
- Hotels
- Others
- Retail Food and Beverage Sector
- Fuel Station Stores
- Hypermarkets
- Supermarkets
- Discount Stores
By Case Type:
- Forced Air Type Multi-Deck Refrigerated Display Case
- Gravity Coil Type Multi-Deck Refrigerated Display Case
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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