Press release
Worldwide Refrigerated Counters Market: Rising Stringency of Food Safety and Quality Regulations Driving Adoption
Refrigerated counters have been witnessing strong demand globally majorly due to the growing presence of restaurants and food chains around the world. The refrigerated counters market is mostly concentrated in North America and Europe owing to a large number of hotels and catering service providers in these regions. The emergence of new hotels and cafes in response to the ever-growing tourism industry in developing countries is also likely to support the growth of the refrigerated counters market.
The implementation of government regulations to control energy consumption and reduce the use of harmful refrigerants is expected to boost the replacement demand for refrigerated counters among end users in the coming years. Increasing stringency of food safety and quality regulations are also anticipated to support the market.
The revenue of the global refrigerated counters market stood at US$4.5 bn in 2015; this is projected to expand at a CAGR of 7.7% during the forecast period to reach US$8.7 bn by 2024.
Get More Information : http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=15161
Growing Fast-food Culture in Developing Countries Contributing to Growth of QSR Segment
System catering emerged as the leading end-use segment of the global refrigerated counters market and is estimated to account for a massive 80.9% share by the end of 2016. However, the segment is expected to lose a marginal share in the market by 2024 owing to the rising demand for luxury hotels across Europe and Asia Pacific. The hotels segment, as a result, will exhibit a 9.3% CAGR in terms of revenue from 2016 to 2024.
Within the system catering segment, quick service restaurants (QSR) are expected to contribute the highest revenue to the overall refrigerated counters market. The QSR market is expected to grow significantly in the coming years owing to the growing fast-food culture in developing countries and the rising disposable incomes of the consumers.
Promising Growth in Store for APAC Refrigerated Counters Market
North America was the leading regional market in terms of revenue in 2015 and the demand for refrigerated counters is expected to increase in hotels and full-service restaurants in the coming years. The U.S. is expected to be a significant contributor to the refrigerated counters market in North America.
Europe is anticipated to account for a consistent share in the global market during the forecast period owing to the rising implementation of government regulations in order to curb the consumption of energy and the usage of refrigerants in refrigerated counters. The Europe refrigerated counters market is projected to expand at a CAGR of 6.6% from 2016 to 2024. Asia Pacific is expected to exhibit increased demand for refrigerated counters in the coming years due to the growth of the organized hospitality sector. Countries such as China and India are expected to witness a significant adoption of refrigerated counters in hotels and quick-service restaurants.
The Middle East and Africa (MEA) and South America markets, on the other hand, are expected to contribute less to the global refrigerated counter market in the coming years as compared to other regions.
Some of the major players in the global refrigerated counters market are Illinois Tool Works, Inc., Electrolux AB, Inomak S.A., Turbo Air Inc., The Manitowoc Co. Inc., Standex International Corp., Dover Corp., Continental Refrigerator, True Manufacturing Co, Inc., Avantco Refrigeration, Angelo Po Grandi Cucine s.p.a., Ali S.p.A., Afinox srl, Coldline srl, The Middleby Corp., Inoksan Group, and Infrico S.L.
About Us
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
US Office Contact
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Worldwide Refrigerated Counters Market: Rising Stringency of Food Safety and Quality Regulations Driving Adoption here
News-ID: 425418 • Views: …
More Releases from TMR
Emerging Opportunities in Logistics Market with Current Trends Analysis
The global Logistics market is estimated to attain a valuation of US$ 15,273.21 Bn by the end of 2027, states a study by Transparency Market Research (TMR). Besides, the report notes that the market is prognosticated to expand at a CAGR of 4.5% during the forecast period, 2019-2027.
The key objective of the TMR report is to offer a complete assessment of the global market including major leading stakeholders of the…
Energy Measurement IC Market is expected to reach US$ 8.39 Bn by the end of 2031
According to a Transparency Market Research (TMR) research report, the global energy measurement ic market is likely to expand at a CAGR of 7.4% during the forecast period, 2022 to 2031. This suggests that the market is expected to reach US$ 8.39 Bn by the end of 2031.
The study on the energy measurement ic market adopts rigorous and systematic research approaches to understand the growth dynamic of the market. The…
STATCOM UPS Market to Register Double Digit Growth Rate of 16% CAGR by 2024
Over the last decade, rising number of industries and utilities are opting for static synchronous compensator or STATCOM UPS instead of static VAR compensator or SVC UPS. Low harmonic emission coupled with high speed of response is accentuating the expansion of India STATCOM UPS market now and in times to come. Playing a crucial role in voltage control and compensation of reactive power, STATCOM UPS is likely to keep its…
Thin Wafer Processing and Dicing Equipment Market US$692.5 mn by 2024 - TMR
Transparency Market Research (TMR) estimates that the global thin wafer processing and dicing equipment market has a highly consolidative landscape. Disco Corp. accounted for largest share of 56.4% in 2015 and likely to be dominant in the coming years. This is creating monopoly in the thin wafer processing and dicing equipment market in terms of competitive presence. The other key players such as EV Group, Plasma-Therm LLC, Lam Research Corp,…
More Releases for Refrigerated
Refrigerated Transport Market: Impact Of Russia-Ukraine War On Refrigerated Tran …
Global Refrigerated Transport Market 2022-2028: As the world economy continues to grow, so does the need for efficient, reliable data. This is why we are releasing our Global Refrigerated Transport Market 2022-2028 report, which will give you a comprehensive overview of this industry. In this report, you'll find historical and future cost, revenue, demand, supply and import/export data for your distributor's value chain. You'll also get an in-depth analysis of…
Global Refrigerated Vehicles Market: India’s Import of refrigerated vehicles w …
Refrigerated trucks include different types of vehicles used for different transportation needs depending on loading requirements. Some of these types include refrigerated vans, refrigerated trucks, refrigerated trailers, refrigerated wagons, refrigerated vessels, refrigerated air transport, refrigerated containers, temperature controlled containers, intermodal refrigerated containers, insulated containers, integrated refrigerated containers, and multi-modal. Includes temperature container. Increasing consumer awareness of fresh food is one of the key factors in increasing demand for refrigerated vehicles…
Refrigerated Transport Market Forecast to 2028 - COVID-19 Impact and Global Anal …
MARKET OVERVIEW
Refrigerated transportation is also known as reefer freight. Refrigerated transport is a means of conveyance of food products pharmaceuticals that require special, temperature controlled vehicles. The vehicle is used for refrigerated transportation has a built-in refrigeration system that keeps the products at a preferred temperature throughout the transportation process. The benefit of refrigerated transportation is that it keeps products from deteriorating and losing its value during the transportation process.…
Refrigerated Display Cabinets Market
Refrigerated Display Cabinets market research report provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability.
The industry report lists the leading competitors and provides the insights strategic industry Analysis of the key factors influencing the market.
The report includes the forecasts, Analysis and discussion of important industry trends, market size, market share estimates and profiles of the leading…
Refrigerated Counter Market - Promising Growth in Store for APAC Refrigerated Co …
Illinois Tool Works, Inc., Hoshizaki Corp., Ali Group, Electrolux AB, and Liebherr - the top five players in the global refrigerated counters market - accounted for a share of just under 62% in 2015. Transparency Market Research notes that this fragmented market is characterized by the presence of an increasing number of players attempting to gain market share via mergers, acquisitions, and divestments. Product innovation and technology differentiation are expected…
Refrigerated Display Cases Market: Exhibit 9.6% CAGR due to Growing Demand for P …
Refrigerated display cases/cabinets (RDCs) refer to specially designed freezers/refrigerators used to display (and store) items that require cold storage. These are commonly used across companies operating in the food and beverage industry such as supermarkets/hypermarkets, grocery stores, hotels/restaurants and catering businesses, and non-conventional outlets such as gas stations and kiosks/local grocers. Use of RDCs by the biomedical sector for storing specimens or drugs is also gradually picking up. This is…
