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Cool Innovations: The Evolving Market for Refrigerated Display Cabinets

Cool Innovations: The Evolving Market for Refrigerated Display

The Business Research Company recently released a comprehensive report on the Global Refrigerated Display Cabinets Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, 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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Market Drivers and Trends:

The increasing demand for electric vehicles is expected to propel the growth of the smart electric drive market going forward. Electric vehicles (EVs) are automobiles powered by electricity stored in rechargeable batteries or other energy storage devices. The demand for electric vehicles is increasing due to advances in battery technology, government support, the growing availability of models, stricter emissions standards, and second-hand markets. Smart electric drives are at the core of electric vehicle technology, offering significant advantages in efficiency, performance, and environmental impact compared to traditional internal combustion engines. For instance, in January 2024, according to a report published by the Energy Information Administration (EIA), a US-based environmental impact assessment of electric vehicles, around 12.9 million electric vehicles were produced worldwide in 2023, an increase of 6.7% compared to 2022. Therefore, the increasing demand for electric vehicles is driving the growth of the smart electric drive market.

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.

Key Benefits for Stakeholders:

• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.

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Major Key Players of the Market:

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.

Refrigerated Display Cabinets Market 2024 Key Insights:

• The refrigerated display cabinets market size is expected to grow to$10.26 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%.
• Expansion Of Food Service Industry Boosts Refrigerated Display Cabinets Market Growth
• Innovative Battery Management Systems Enhancing Efficiency And Safety in Electric Vehicles
• Asia Pacific was the largest region in the refrigerated display cabinets market in 2023

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The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

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Learn More About The Business Research Company

The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

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