In addition, expanding retail network and growing business sector for ready-to-eat and simple-to-prepare food items have fueled the demand for RDCs in the global market. Refrigerated display cases can be categorized into two types, “plug-in” and “remote” refrigerated display. Plug-in display cases are based on the concept of integral refrigeration system, where the condenser and compressor are incorporated within the system. In remote display cases, each part of the refrigeration framework is situated at an alternate location away from the display unit.
Refrigerated display cases can be segmented in two types depending on their product design namely, vertical open fronted and horizontal open top. Vertical open fronted-products are displayed on racks and display case structures. In vertical RDCs, the products are vertically displayed, which involves less space and accommodates more products. In horizontal open top, food is stored in insulated containers and accessed by customers from the top.
Retailers have focused on installing RDCs in shops due to stringent laws and increasing competition in the market for improving customer experience. RDCs have gained popularity in the recent years due to their eco-friendly approach by using alternatives to synthetic refrigerants. The refrigerated display cases market is expected to grow at a healthy rate due to the dynamic market conditions and lifestyle changes.
Illinois Tool Works, Inc., Hussmann International, Ali Group, and Carrier Refrigeration are some of the leading manufacturers of refrigerated display cases in the global market. These companies have global presence and offer a wide range of products.
The outbreak of COVID-19 has negatively affected the manufacturing activities and disrupted the distribution network of the refrigerated display cases market globally. People were forced to stay in their homes to limit the spread of the disease. Government’s stringent rules regarding social distancing and complete lockdowns resulted in huge losses for vendors operating in the market. All the major key players and other sales channel were closed during the lockdown period. However, a V-shaped recovery is expected in the post-COVID-19 period.
The refrigerated display cases market is segmented based on product type and product design, and regions. Based on product type, the refrigerated display cases market has been segmented into plug in refrigerated display, and remote refrigerated display. Based on product design, the refrigerated display cases market has been classified into vertical, horizontal, and hybrid/Semi-Vertical. Regional segmentation of the refrigerated display cases market includes North America, Europe, Asia-Pacific, and LAMEA (Latin America, the Middle East, & Africa).
Some of the key players that operate in the refrigerated display cases market include Metalfrio Solutions S.A, Lennox International, Dover Corporation, Illinois Tool Works Inc., Hussmann Corporation, AHT Cooling Systems GmbH, Epta S.p.a Refrigeration, Frigoglass S.A.I.C, Hoshizaki International, ISA Italy S.r.l, Verco Limited.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the refrigerated display cases market analysis from 2020 to 2031 to identify the prevailing refrigerated display cases market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the refrigerated display cases market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global refrigerated display cases industry.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global refrigerated display cases market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Product Type
- Plug In Refrigerated Display
- Remote Refrigerated Display
By Product Design
- Vertical
- Horizontal
- Hybrid And Semi-Vertical
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Metalfrio Solutions S.A
- Lennox International
- Dover Corporation
- Illinois Tool Works Inc.
- Hussmann Corporation
- aht cooling systems gmbh
- Epta S.p.a Refrigeration
- Frigoglass S.A.I.C
- Hoshizaki International
- Verco Limited
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Table of Contents
Executive Summary
According to this report titled, 'refrigerated display cases market by product type and product design: global opportunity analysis and industry forecast, 2022-2031,” the global refrigerated display cases market size was valued at $12,985.7 million in 2020, and is projected to reach $37,139.8 million by 2031, registering a CAGR of 9.8% from 2022 to 2031.Refrigerated display cases (RDCs) are the specially designed refrigerators used to store and display perishable food products. They are commonly used by food & beverage retailers such as hypermarkets, supermarkets, hotels, cafes, and others.
The market is expected to grow at a notable pace over the next five to six years, owing to factors such as expanding organized retail sector including supermarkets and hypermarkets, changing food preferences of people, evolving lifestyles and increasing disposable incomes. Moreover, a plethora of new developments in small scale food and retail sector and inclination toward food safety concerns are expected to boost demand for RDCs in the future. Owing to emission of greenhouse gases such as CFCs and HFCs in existing RDCs, various changes are now being adopted with regards to compressor design, specifically in North America and Europe.
The refrigerated display cases market is segmented on the basis of product type, product design, and region. On the basis of product type, the market is divided into plug-in RDCs and remote RDCs. The plug-in RDC segment dominated the market with a revenue share of around 7% in 2020, owing to reduction in operational cost, low installation time, and high energy efficiency.
By product design, the vertical design segment held a major share in the market. The segment is estimated to exhibit fastest growth during the forecast period. With widespread growth in small and medium sized retail outlets, demand for vertical RDCs has witnessed a substantial increase. Horizontal RDCs are expected to exhibit a notable growth trend during the forecast period, owing to their growing demand in organized large size retail food stores. Hybrid RDCs, which have dual temperature control system have been gaining adoption, especially with increase in demand from cafes and quick service restaurants.
Europe was estimated to be the highest revenue generating region in the RDC Market in 2020, owing to the high adoption of refrigeration solutions in the food and beverages retail market. The continuous growth of super and hyper markets is demonstrating a key driver for development of the Europe refrigerated display cases market. Super and hyper markets represent an accountable share of the refrigerated display cases market and development of huge chains, for instance, Tesco in the UK, is guaranteeing establishment of new equipment.
Key players operating in the market include some of the leading players in the global market include Metalfrio Solutions S.A, Lennox International, Dover Corporation, Illinois Tool Works Inc., Hussmann Corporation, AHT Cooling Systems GmbH, Epta S.p.a Refrigeration, Frigoglass S.A.I.C, Hoshizaki International, and ISA Italy S.r.l, Verco Limited. Product launches and mergers & acquisitions have emerged as prominent strategies adopted by leading players. Currently, these companies are focusing on development of energy efficient and eco-friendly RDCs. Companies on the basis of acquisitions and collaborations with new entrants, are working toward maintaining their lead in the market.
Key Findings of the Study
Plug-in refrigerated display held the major share in the market accounting around 71.9% of the total refrigerated display cases market.The vertical segment held major share in the market and is expected to remain dominant throughout the forecast period.
Europe accounted for more than half of the total share in 2020
Companies Mentioned
- Metalfrio Solutions S.A
- Lennox International
- Dover Corporation
- Illinois Tool Works Inc.
- Hussmann Corporation
- aht cooling systems gmbh
- Epta S.p.a Refrigeration
- Frigoglass S.A.I.C
- Hoshizaki International
- Verco Limited
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 225 |
Published | March 2022 |
Forecast Period | 2020 - 2031 |
Estimated Market Value ( USD | $ 12985.7 million |
Forecasted Market Value ( USD | $ 37140 million |
Compound Annual Growth Rate | 10.0% |
Regions Covered | Global |
No. of Companies Mentioned | 10 |