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Refrigerated Display Cabinets Market Insights, Size, Share And Growth Report 2024
Refrigerated Display Cabinets Market Insights
As per the report, 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 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%.
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Expansion Of Food Service Industry Boosts Refrigerated Display Cabinets Market Growth
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.
Innovative Propane (R290)-Based Refrigerated Cabinets Enhance Efficiency And Sustainability In Retail Settings
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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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.
Contents of the report:
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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