Projected Surge: Open Air Merchandizers and Accessories Market Set to Expand at 6.4% CAGR through 2023-2033

The open air merchandizers and accessories market is poised for substantial growth, with Future Market Insights forecasting a robust Compound Annual Growth Rate (CAGR) of 6.4% between 2023 and 2033. By the end of 2033, the market is expected to reach an estimated value of US$ 3,385.9 million.

The demand for open air merchandizers and accessories is projected to soar during the forecast period, primarily driven by the increasing need for efficient devices in various commercial settings. This includes establishments like hospitals and clinics that require specialized storage conditions for medications and medical equipment. Additionally, the market is expected to experience moderate growth as grocery and convenience stores employ these merchandizers to showcase bagged ice and food products.

The significance of storage and handling, especially for vaccines, has become a crucial aspect of the cold storage supply chain. As the world continues to grapple with the COVID-19 pandemic, the efficient distribution of vaccines has further contributed to the sustained growth of the open air merchandizers and accessories market in the forecast period.

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Key Insights from the Market Analysis

The global open air merchandizers and accessories market witnessed a steady growth with a Compound Annual Growth Rate (CAGR) of 5.5% from 2018 to 2022.
In 2022, North America emerged as the dominant region in the global open-air merchandizers and accessories market, contributing to more than 23.7% of the total revenue share.
Within North America, the United States (U.S.) market for open-air merchandizers and accessories is projected to demonstrate a 5.4% year-on-year growth by volume.
The United Kingdom is poised to lead the Western Europe market, with a forecasted Compound Annual Growth Rate (CAGR) of 6.1% over the designated period.

Competitive Landscape

Prominent players in the global market include:

Beverage-Air, Koolmore, Koldline, Delfield, Hyrda Kool, Marchia, Kool-It, Avantco Refrigeration, Micro Market, Universal.

Noteworthy Developments from Key Players:

In March 2023, Accucold, a division of Felix Storch, Inc. (FSI), expanded its range of vaccine refrigeration equipment certified to the NSF/ANSI 456 Vaccine Storage Standard. The Accucold Pharma-Vac Performance Series, available in 9 sizes, adheres to the latest standard through testing by an ANSI-accredited third-party laboratory.

In January 2023, Traulsen introduced its TF Flex Drawer under-counter refrigerator/freezer, equipped with a unique feature allowing the temperature of each drawer to be adjusted from cooling to freezing with a simple touch. Each drawer has the flexibility to operate at distinct temperature settings.

Further Valuable Insights Provided
Future Market Insights presents an impartial analysis of the global open air merchandizers and accessories market, encompassing historical data spanning from 2018 to 2022 and forecasted statistics extending from 2023 to 2033.

To discern opportunities within the open air merchandizers and accessories market, the report is categorized based on installation type (counter mounted, drop in, freestanding, and under counter), refrigeration type (remote refrigeration and self-contained refrigeration), components (evaporator, compressor, condenser, thermostat, and capillary tube), and distribution channel (offline stores and online retail stores), covering five significant regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).

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Key Segments Profiled in the Open Air Merchandizers and Accessories Market

By Installation Type:
Counter Mounted
Drop In
Freestanding
Under Counter

By Refrigeration Type:
Remote Refrigeration
Self-contained Refrigeration

By Components:
Evaporator
Compressor
Reciprocating
Hydrocarbon
Scroll
Condenser
Thermostat
Capillary tube

By Distribution Channel:
Offline Stores
Hypermarkets
Departmental Stores
Multi-brand Store s
Discount Stores
Specialty stores
Online Retail Stores

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About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.

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This release was published on openPR.