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In its new study, ESOMAR-certified market research and consulting firm Future Market Insights (FMI) offers insights about key factors fueling the demand for Refrigerated Display Cases. The report tracks the global sales of Refrigerated Display Cases in 20+ high-growth markets, along with analyzing the impact COVID-19 has had on the manufacturing and retail industry in general.

Increasing refrigerated display cases sales are set to enable the market’s valuation to reach US$ 9.5 Bn in 2021. Future Market Insights (FMI) in a study has predicted stable long-term growth for the market. The report offers analysis in 20+ high-growth markets, providing detailed insights on Refrigerated Display Cases Market growth will evolve in the next decade.

Introduction of high performance and connected refrigerated display cases with real time cloud access and maintenance will create lucrative growth opportunities. In the coming years, the market also will gain from the launch of low GWP refrigerants aimed at lowering environmental challenges.

Key Takeaways

• Expansion of the supermarkets and hypermarkets will remain a chief growth driver, enabling the market rise at 5.5% CAGR between 2021 and 2031
• Rising demand for ready-to-eat food is fuelling refrigerated display cases sales across supermarkets and hypermarkets in the U.S. The country is expected to account for over 70% of the North America market
• Expansion of the food service sector will enable growth in Germany and France
• The U.K. will emerge as a strong market, exhibiting 3.8% y-o-y growth in 2021 after a period of decelerating sales in 2020
• While China currently holds dominance, Japan will emerge as the leading market in East Asia backed by rising demand for packaged food

“Recent developments in food service and food retail sectors are creating lucrative prospects for the market. Consumers’ inclination towards add-on features like real time maintenance, remote access, and others is increasing, which is expected to give tailwinds to growth. In order to woo end users, manufacturers are therefore providing competitive price offering and advanced technologies,” says FMI analyst.

The implementation of stringent government norms and regulation on use of refrigerant for cooling is estimated to create high growth avenues for the refrigerated display case market. The increasing focus on eco-friendly and sustainable refrigerated display cases in developed and developing economies across the globe is creating growth opportunities.

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By Segments:

Type

• Plug-In Refrigerated Display Cases
• Semi Plug-In Refrigerated Display Cases
• Remote Refrigerated Display Cases

Design

• Vertical Refrigerated Display Cases
• Horizontal Refrigerated Display Cases
• Hybrid Refrigerated Display Cases

By End Use

• Food Service Sector
  • Quick Service Restaurants
  • Bakeries
  • Hotels
  • Others
• Retail Food & Beverage Sector
  • Fuel Station Stores
  • Hypermarkets
  • Supermarkets
  • Discount Stores

By Region

• North America
• Latin America
• Europe
• East Asia
• South Asia & Pacific
• MEA

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Competitive Landscape

The refrigerated display cases market is a highly competitive market owing to presence of a large number of manufacturers. The leading players account for more than two third of the global market share. Some of the players are focusing to carve a niche for particular penetrated area. There is also immense focus on innovation and product launches.

Some of the leading companies operating in the market are:

• Carrier Corporation
• Danfoss A/S
• Frigoglass SAIC
• Epta S.p.a. Refrigeration
• Dover Corporation
• Haier Group
• Arneg S.p.A
• Illinois Tool Works
• Daikin Industries, Ltd.
• Fagor Industrial
• CAREL INDUSTRIES S.p.A.

Refrigerated display case market is likely to grow at a moderate pace during 2021-2031. However, as it is a matured market, companies are expected to concentrate further on research and development activities. Collaboration, mergers and acquisition with regional companies will remain key strategies adopted by market players as they aim at expanding their footprint in regional market.