Refrigerated Display Cases Market Estimated to be Driven by Innovation and Industrialization
After an in-depth investigation of the global refrigerated display cases market, Future Market Insights predicts a revenue growth of about US$ 16 Bn by the end of 2027, reflecting a CAGR of 6.2% during the period of forecast.
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The global refrigerated display cases market is categorised by product type, by construction, by end user and by region. By product type, it is segmented into plug-in device and remote operated device. By construction it is segmented into horizontal, hybrid and vertical. By end user it is segmented into food service sector and retail food and beverage sector; and by region, the market is divided into North America, Western Europe, Eastern Europe, Latin America, APEJ, Japan and Middle East and Africa (MEA).
Remote operated device segment is poised to dominate the global refrigerated display cases market by product type by reflecting a higher market share and is poised to grow at a high CAGR of 6.5% during the period of forecast. Demand in the plug-in device market is also rising, especially in emerging economies. The plug-in device segment is poised to reflect a CAGR of 5.8% in terms of value. The remote operated device segment is expected to reflect a market share of more than 55% by the end of 2027.
Vertical segment by construction is expected to dominate the market with respect to market value and is anticipated to grow at a CAGR of 6.4% throughout the period of forecast. The hybrid segment is anticipated to register the highest growth rate to reflect a CAGR of 6.7% during the forecast period.
Retail food and beverage sector segment by end user is anticipated to grow at a higher growth rate to reflect a CAGR of 6.4% during the period of forecast. This segment dominates the global refrigerated display cases market by end user with respect to market value as it is expected to reach a value of just under US$ 13 Bn by the end of 2027. Market value of the food service sector segment is less compared to that of the retail food and beverage sector segment and is poised to grow at a CAGR of 5.1% throughout the period of forecast.
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The APEJ region shows a high growth to register a CAGR of 9.0% throughout the period of forecast surpassing North America and Western Europe in terms of demand. Rapid urbanisation and increasing income levels in India, China and South Korea are the main contributors for growth of the APEJ region in the global refrigerated display cases market. Moreover, along with a growing population and rising demand for food, the FMCG market has been performing well in the region and major retail chains are shifting their focus towards expanding their footprint in APEJ countries. This has spurred the growth of the refrigerated display cases market in this region. Another trend observed in APEJ is the shift of manufacturing base to this region. Besides enhancing technology, maintaining overall product cost is also a key concern for manufacturers. In order to decrease the cost of manufacturing, some players in the market have established their production facilities in countries such as China, Indonesia and India, where labour costs are relatively low as compared to other countries. North America and Western Europe are expected to face maturity in the coming years.
The research report on the global refrigerated display cases market has profiled tier players involved in the refrigerated display cases market such as Panasonic Corporation, Dover Corporation, Frigoglass SAIC, Arneg S.p.A, AHT Cooling System GmbH, Illinois Tool Work Inc., Epta S.p.a. Refrigeration, Standex International Corporation, Lennox International Inc., United Technologies Corp., Metalfrio Solutions, Inc., Clabo Group, True Manufacturing, Carter Retail Equipment Ltd., Nakano Refrigerators Co. Ltd., QBD Modular Systems Inc., Zero Zone Inc., Igloo International, Marc Refrigeration Manufacturing, Inc., Aucma Co., Ltd., Haier Carrier, Isa S.p.a., Borgen Systems and Koxka.
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Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services, which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights, an aerial view of the competitive framework, and future market trends.
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