August 21, 2019 — Global refrigerated display cases market report published by Accurize Market Research forecast that the global market is expected to reach $25 billion by 2024; growing at a CAGR of 9.4% from 2017 to 2025. By geography, the Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
Expanding food industry and network of retail stores drives the growth of the market
Expanding food industry and network of retail stores, and increasing demand for energy-efficient refrigerated cases fuels the demand for the global refrigerated display cases market. Moreover, huge demand for chilled and frozen foods, increasing acceptance in the medical and biomedical sector, and rising regulatory compliances also boosts the growth of the market.
The global refrigerated display cases market has been bifurcated on the basis of type, product design, and geography. The type segment is bifurcated as remote RDC and plug-in RDC. Product design segment is further categorized as hybrid & semi-hybrid, vertical, and horizontal.
By geography, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). The U.S., Canada, and Mexico are covered under North America wherein Europe covers the UK, Germany, France, Italy, and others. Asia-Pacific covers China, Japan, India, South Korea, and others. RoW covers South America, the Middle East, and Africa.
“Plug-in RDC accounted the largest market share in the type segment ", says Accurize
By type segment, Plug-in RDC accounted for the largest market share in type segment and is anticipated to continue its dominance with the fastest growth rate. Vertical design held the majority of share in 2017 followed by horizontal.
“Europe dominated the global market with the highest market share over the forecast period", says Accurize
In 2017, Europe held the maximum market share with 32.3%, driven by the adoption of advanced technologies. North America accounted for the second-largest market share with 26.2%. In terms of growth, Asia-Pacific is expected to dominate with fastest CAGR during the forecast period 2017-2025, owing to rising demand for fresh and frozen food products, and increased acceptance among small and medium-sized retailers. The country-wise analyses of all the four geographies have been also included in the report.
Top players in the market
The key market players include Panasonic Corporation, United Technologies Corp., Hussmann Corporation, Beverage-Air Corporation, EptaS.p.a, Dover Corporation, Illinois Tool Works, Inc., Daikin Industries, Ltd., Blue Star Ltd., and AHT Cooling System GmbH among others.
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