Dublin, Sept. 20, 2022 (GLOBE NEWSWIRE) — The Refrigerated Display Cases Market, By Product Type, By Product Design: Global Opportunity Analysis And Industry Forecast, 2020-2031 report has been added ResearchAndMarkets.com Offer.
Global refrigerated display case market size was estimated at US$12,985.7 million in 2020 and is projected to reach US$37,139.8 million by 2031, growing at a CAGR of 9.8% from 2022-2031.
Refrigerated display cases (RDCs) are purpose-built refrigerators used to store and display perishable foods. They are widely used by food and beverage retailers such as hypermarkets, supermarkets, hotels, cafes and others.
The market is expected to grow at a remarkable pace over the next five to six years due to factors such as the expansion of the organized retail sector including supermarkets and hypermarkets, people’s changing food preferences, evolving lifestyles and rising disposable incomes.
Additionally, a plethora of new developments in the small grocery and retail sectors and the propensity for food safety concerns are expected to drive demand for RDCs in the future. Due to the emission of greenhouse gases such as CFCs and HFCs in existing RDCs, various changes regarding compressor design are now being made, especially in North America and Europe.
The refrigerated display cases market is segmented on the basis of product type, product design, and region. On the basis of product type, the market is segmented into plug-in RDCs and remote RDCs. The plug-in RDC segment dominated the market with a sales share of around 7% in 2020 due to the reduction in operating costs, short installation time and high energy efficiency.
In product design, the vertical design segment had a large market share. The segment is estimated to witness the fastest growth over the forecast period. With the widespread growth of small and medium-sized retail stores, the demand for vertical RDCs has increased significantly.
Horizontal RDCs are expected to show a remarkable growth trend over the forecast period owing to their growing demand in organized large-scale food retail stores. Hybrid RDCs that feature a dual temperature control system are gaining acceptance, especially with increasing demand from coffee shops and quick service restaurants.
Due to the high acceptance of refrigeration solutions in the food and beverage retail sector, Europe has been estimated as the top-selling region in the RDC market in 2020. The continuous growth of supermarkets and hypermarkets is an important driver for the development of the European refrigerated display case market. Supermarkets and Hypermarkets represent a sizeable share of the refrigerated display case market and the development of large chains such as Tesco in the UK guarantees the launch of new units.
The major players in the market include some of the leading players in the global market including Metalfrio Solutions SA, Lennox International, Dover Corporation, Illinois Tool Works Inc., Hussmann Corporation, AHT Cooling Systems GmbH, Epta Spa Refrigeration, Frigoglass SAIC, Hoshizaki International , and ISA Italy Srl, Verco Limited.
Product launches and mergers and acquisitions have become prominent strategies of leading players. Currently, these companies are focused on developing energy efficient and environmentally friendly RDCs. Companies that work on the basis of acquisitions and collaborations with new entrants work to maintain their edge in the market.
Key Findings of the Study
Plug-in refrigerated showcases held the largest market share, accounting for around 71.9% of the total refrigerated showcase market.
The vertical segment had a large market share and is expected to remain dominant throughout the forecast period.
Europe accounted for more than half of the total share in 2020
Important market participants
- Metalfrio Solutions SA
- Lenovo International
- Dover Corporation
- Illinois Tool Works Inc.
- Hussman Corporation
- aht cooling systems gmbh
- Epta Spa cooling
- Frigoglas SAIC
- Hoshizaki International
- Verco Limited
Important market segments
By product type
- Plug-in refrigerated display case
- Cooled remote display
According to product design
- Hybrid and semi-vertical
- North America
- United Kingdom
- rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- middle East
For more information about this report, visit https://www.researchandmarkets.com/r/sgfn5s
Global Refrigerated Display Cases Market