Refrigerated Display Lighting Market Key Players Analysis - Acuity Brands, General Electric, Nualight, Osram Sylvania.

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Refrigerated Display Lighting Market Size, Share & Trends Analysis Report By Type (Fluorescent Lighting And LED Lighting), Application (Chilled-Type Display Cases And Frozen-Type Display Cases), End-User ( Supermarkets, Convenience Stores, Speciality Stores, And Online Retail), Installation (New Installation And Retrofit) And Light Source (Wired And Wireless), Region, Market Outlook And Industry Analysis 2031"

The global refrigerated display lighting market is estimated to reach over USD 7.16 billion by 2031, exhibiting a CAGR of 19.2% during the forecast period.

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Refrigerated display lighting serves as an effective marketing tool, particularly for retailers aiming to highlight products nearing their expiration date. This visual emphasis increases the likelihood of immediate consumer purchase, as products are more likely to be noticed when clearly illuminated in refrigeration units. Various businesses, such as supermarkets, gas stations, restaurants, nightclubs, and walk-in coolers, utilize refrigerated display lighting. Retailers in the food and beverage sector, including restaurants, hotels, hypermarkets, and supermarkets, commonly employ refrigerated display cases (RDCs) to showcase products. The food and beverage industries, in particular, benefit from RDCs, as they enhance product visibility and appeal, driving consumer purchases. The demand for RDCs has been growing within the global refrigerated display case market, fueled by the expansion of retail networks and the commercial sector, especially in the ready-to-eat and prepared food segments. However, challenges such as low awareness, limited adoption in developing regions, and increasing environmental concerns continue to hinder the market's full growth potential.

List of Prominent Players in the Refrigerated Display Lighting Market:
• Acuity Brands
• General Electric
• Nualight
• Osram Sylvania
• Philips Lighting
• Ledtech
• SloanLED
• MaxLite
• Lennox International
• Metalfrio Solutions S.A
• AHT cooling systems gmbh
• Orion Energy Systems Inc
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Market Dynamics:
Drivers:
The increasing demand for refrigerated display lighting is primarily driven by heightened consumer awareness regarding the need for energy-efficient lighting solutions, as well as the growing requirement for refrigerated display cases in the commercial foodservice industry. Energy-efficient lighting consumes less power while still providing sufficient illumination, making it an attractive choice for businesses aiming to reduce energy consumption and environmental impact. Governments and regions around the world have implemented stringent policies and regulations aimed at reducing energy use, which often include specific energy efficiency standards for refrigeration equipment. As a result, the global market for refrigerated display lighting is expected to experience substantial growth.

Challenges:
Key challenges facing the refrigerated display lighting market include strict regulatory requirements, a shortage of skilled professionals, and the absence of standardized protocols, particularly in emerging markets where isolation and lockdowns have affected progress. Additionally, the higher initial cost of LED lighting compared to traditional light bulbs may be prohibitive for some businesses, especially those with limited budgets. This cost factor may cause a slight decline in the global demand for refrigerated display lighting. The COVID-19 pandemic disrupted global supply chains, delaying the production and distribution of lighting components, which in turn affected the timely delivery of refrigerated display lighting equipment. Furthermore, the shift in consumer behavior towards online shopping due to the pandemic may have led some retailers to reconsider their in-store lighting strategies and displays.

Regional Trends:
The North American market for refrigerated display lighting is projected to capture a significant share of global revenue. This is due to the well-established retail sector for food and beverage products, coupled with growing consumer demand for organic and fresh items that require proper lighting and refrigeration. As retailers seek to enhance the presentation of these products, there will be a corresponding increase in the need for refrigerated display lighting. Additionally, Europe holds a notable market share, driven by technological advancements, higher levels of affluence, and expanding retail space requirements. Shifts in consumer preferences and increased discretionary spending further support the market's growth in this region.

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Recent Developments:
• In June 2023, Lennox Industries, a frontrunner in the smart home market, unveiled several new products, including the S40 Smart Thermostat, Smart Air Quality Monitor, and Smart Room Sensor. These goods ' designs aim for energy savings and dependable home comfort.
• In September 2023, GE Vernova was awarded a contract by O2 Power Private Limited to deliver, install, and commission 36 units of its 2.7-132 onshore wind turbines. These wind power projects will be located in Maharashtra, India, with a combined capacity of 97 MW. By signing this deal, renewable energy would be able to reach many Indian businesses and sectors, helping the country get closer to its goal of 500 GW of renewable power.

Segmentation of Refrigerated Display Lighting Market-
By Type-
• Fluorescent Lighting
• LED Lighting
By Application-
• Chilled Type Display Cases
• Frozen Type Display Cases
By End-User-
• Supermarkets
• Convenience Stores
• Specialty Stores
• Online Retail
By Installation-
• New Installation
• Retrofit
By Light Source-
• Wired
• Wireless
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa

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This release was published on openPR.