The global refrigerated display cases market is highly fragmented with most of the key players accounting for not more than 5% of the market. The top three players together accounted for 16.5% of the market in 2012. These players are Hoshizaki, Frigoglass, and Manitowoc Company, Inc. A large share of the market is represented by small and regional players. Most players in the developed countries are focusing on expanding their operations in the emerging markets in Brazil, China, Indonesia, and India, as these nations are witnessing robust retail network growth. Existing players are looking for opportunities to acquire other players in the supply chain to ensure timely supply of components, states a new report by Transparency Market Research (TMR). In addition to this, players are also re-aligning their operations process in order to respond swiftly to changes in market dynamics.
According to the report, the global market opportunity in refrigerated display cases is expected to rise from US$10.95 bn in 2015 to US$16.3 bn in 2019. On the basis of product, the plug-in segment will continue to remain the dominant segment, accounting for 66.3% of the market in 2019. By product design, the vertical-front open segment will continue to lead, accounting for 63.5% of the global refrigerated display cases market by 2019. On the basis of geography, Asia Pacific, followed by North America, is expected to lead, accounting for 38.3% of the market by 2019.
Proliferation of Restaurants and Supermarkets Driving Demand for Refrigerated Display Cases
The increasing number of cafes, fast food restaurants, and supermarkets worldwide is the major driving factor behind the growth of the refrigerated display cases market. Moreover, technological developments in refrigerated display cases would help drive replacement demand in existing stores or outlets. Additionally, owing to increased competition and maturity in developed markets of Europe and North America, retail chain operators are expanding their reach to the emerging markets of South America and Asia.
Changing trends of food consumption is another factor driving the market globally. The rapid growth in the demand for frozen foods is increasing the need for commercial refrigeration equipment, thus boosting the market.
Online Food Retailing Poses Threat to Refrigerated Display Cases Market
One of the factors posing a grave threat to the use of refrigerated display cases is the rising trend of online food retailing. This trend is challenging supermarkets and food stores as an increasing number of people prefer the convenience of not visiting the store. Since an estimated 90% of medium-sized stores make use of open display cases, there is a potential loss of energy. Additionally, these refrigeration systems also account for high greenhouse emission. This has resulted in stringent energy regulations and food laws that restrict the large scale use of refrigerated display cases by small stores. This is suppressing their growth potential.
Eco-friendly Refrigerated Display Cases to Emerge as Rising Trend in Market
Manufacturers in the refrigerated display cases industry are increasingly focusing on developing green refrigerants. “Retail operators are also switching from open to closed display cases so as to reduce carbon footprint,” states a TMR analyst. Additionally, with technological advancements, the advent of solar-powered displays will emerge as an opportunity for growth and exploration of new avenues.
This information is based on the findings of a report published by Transparency Market Research titled “Refrigerated Display Cases Market (Plug-in and Remote) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019.”
The global refrigerated display cases market is segmented as follows:
Product Type (refrigeration system)
- Plug-in (self-contained)
- Vertical - Front Open
- Horizontal - Top Open
- Others (Hybrid/Semivertical)
- North America
- Rest of the World
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