Albany, NY -- (SBWIRE) -- 12/28/2018 -- Refrigerated Counters Market: Snapshot

Refrigerated counters have been witnessing strong demand globally majorly due to the growing presence of restaurants and food chains around the world. The refrigerated counters market is mostly concentrated in North America and Europe owing to a large number of hotels and catering service providers in these regions. The emergence of new hotels and cafes in response to the ever-growing tourism industry in developing countries is also likely to support the growth of the refrigerated counters market.

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The implementation of government regulations to control energy consumption and reduce the use of harmful refrigerants is expected to boost the replacement demand for refrigerated counters among end users in the coming years. Increasing stringency of food safety and quality regulations are also anticipated to support the market.

The revenue of the global refrigerated counters market stood at US$4.5 bn in 2015; this is projected to expand at a CAGR of 7.7% during the forecast period to reach US$8.7 bn by 2024.

Growing Fast-food Culture in Developing Countries Contributing to Growth of QSR Segment

System catering emerged as the leading end-use segment of the global refrigerated counters market and is estimated to account for a massive 80.9% share by the end of 2016. However, the segment is expected to lose a marginal share in the market by 2024 owing to the rising demand for luxury hotels across Europe and Asia Pacific. The hotels segment, as a result, will exhibit a 9.3% CAGR in terms of revenue from 2016 to 2024.

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