The refrigerated display cabinets global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Refrigerated Display Cabinets Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The refrigerated display cabinets market size has grown strongly in recent years. It will grow from $7.66 billion in 2023 to $8.12 billion in 2024 at a compound annual growth rate (CAGR) of 6%. The growth in the historic period can be attributed to stringent regulations regarding food safety, increased expansion of the retail sector, growing foodservice industry, increased consumer awareness of health and wellness, the growth of online grocery shopping, increased demand for fresh produce.
The refrigerated display cabinets market size is expected to see strong growth in the next few years. It will grow to $10.26 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to growing demand for ready to eat foods, growing emphasis on sustainability, increasing demand for aesthetically pleasing and customizable display solutions, increasing consumer preference for fresh and perishable goods, rising disposable incomes in emerging economies, rising demand for specialty refrigerated display cabinets, rising demand for modular and customizable refrigerated cabinets, increasing investment in cold chain infrastructure. Major trends in the forecast period include the adoption of energy efficient technologies, advancements in IoT integration revolutionizing, implementation of transparent and interactive display features, adoption of eco friendly refrigerants, development of modular units facilitates, development of hybrid refrigeration systems, development of mobile app integration, advancements in display technology, such as organic light-emitting diode (OLED) and curved screens.
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Scope Of Refrigerated Display Cabinets Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Refrigerated Display Cabinets Market Overview
Market Drivers –
The expansion of the food service industry is expected to propel the growth of the refrigerated display cabinet market going forward. The food service industry includes businesses that prepare, serve, and deliver food and drinks, such as restaurants, cafes, food trucks, and catering services. The food service industry is expanding with options for convenient dining options, changing consumer preferences, increased urbanization, and the popularity of food delivery services. Refrigerated display cabinets in the food service industry preserve perishables food items, attract customers with appealing displays, and optimize storage. For instance, in July 2023, according to a report published by the United States Department of Agriculture, a US-based federal agency, about $2.11 trillion in food was provided by the food service and retail sectors in 2021 and $2.39 trillion in 2022, an increase of $0.28 trillion. Furthermore, food service establishments offered $1.16 trillion in 2021 and $1.34 trillion in 2022. Therefore, the expansion of the food service industry is driving the growth of the refrigerated display cabinet market.
Market Trends –
Major companies operating in the market of refrigerated display cabinets are developing sustainable technologies, such as propane-based cabinets, to enhance temperature control and reduce energy consumption. Propane-based refrigerated cabinets utilize propane (R290) as a refrigerant, providing a greener alternative to traditional refrigerants. For instance, in October 2023, AHT, an Austrian-based heating and refrigeration technology manufacturer, launched a new range of propane-based refrigerated cabinets. This new range, called KALEA, represents a significant improvement in efficiency and sustainability for retailers. The KALEA units are designed to cater to both medium- and low-temperature applications and are available in plug-in and semi-plug-in units to suit different store needs. The semi-plug-in units seamlessly integrate into glycol-water systems, capturing waste heat from refrigeration for space heating or hot water production. This innovative feature cuts energy use and slashes costs, and these units effortlessly connect to water loop systems via multiplex connections, ensuring a smooth and efficient integration.
The refrigerated display cabinets market covered in this report is segmented –
1) By Type: Frozen Type, Chilled Type
2) By Application: Beverages, Food, Medicine, Other Applications
3) By End-Users: Supermarkets, Convenience Stores
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Regional Insights –
Asia Pacific was the largest region in the refrigerated market in 2023 and is expected to be the fastest-growing region in the forecast period. The regions covered in the refrigerated display cabinets market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the refrigerated display cabinets market are Panasonic Corporation, Haier Group Corporation, Carrier Corporation, Liebherr-International Deutschland GmbH, Hussmann Corporation, Hoshizaki Corporation, Epta SpA, Aucma Company Limited, Hillphoenix Inc., Qingdao Hiron Commercial Cold Chain Co. Ltd., Frigoglass S.A.I.C., Metalfrio Solutions S.A., True Manufacturing Co. Inc., AHT Cooling Systems GmbH, ISA S.p.A., Ugur Cooling, Ahmet Yar, Costan S.p.A., Zero Zone Inc., Vestforst A/S, Arneg S.p.A., Turbo Air Inc., Orford Refrigeration Pty Ltd, Verco Limited, Afinox S.p.A., Zhejiang Xingxing Refrigeration Co. Ltd.
Table of Contents
1. Executive Summary
2. Refrigerated Display Cabinets Market Report Structure
3. Refrigerated Display Cabinets Market Trends And Strategies
4. Refrigerated Display Cabinets Market – Macro Economic Scenario
5. Refrigerated Display Cabinets Market Size And Growth
…..
27. Refrigerated Display Cabinets Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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