Refrigerated Display Cases and Chilled Rooms Shipment to Reach 12.0 Million Units by 2020: TransparencyMarketResearch
Transparency Market Research has published a new report "Refrigerated Display Cases and Chilled Rooms Market- Global Industry Analysis, Size, Share, Trends & Forecast 2014-2020" to its report store.
Albany, NY -- (SBWire) -- 08/26/2015 --The global refrigerated display cases and chilled rooms market is booming with opportunities due to growth in the cold chain and food retail industry in the entire world. Refrigerated display cases, commonly called RDCs are specially designed refrigerators or freezers for keeping and displaying temperature sensitive food items that have to be chilled or stocked frozen. These refrigerators are majorly used in catering businesses, supermarkets/hypermarkets, hotels/restaurants, grocery stores, bakery shops, and non-conventional outlets such as local grocers, gas stations, and kiosks. In biomedical industry, RDCs are used to store drugs and specimens.
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Similarly, a chilled room is a specially designed chamber that is refrigerated for stocking up perishable food products and vegetables. These storage facilities are generally utilized across dairy and ice cream industry, food supply chain industry, hotel industry, and meat and sea food industry. Chilled rooms are also required in hospitals, research laboratories, horticulture and floriculture industry, and pharmaceutical industry.
In 2013, the global RDCs and chilled rooms industry were jointly worth US$21.9 billion, in terms of revenue. The industry is expected to increase at a 10.5% CAGR during the period 2014 to 2020. The cumulative unit shipment for the RDCs and chilled rooms was 5.7 million units in 2013. It is likely to arrive at 12.0 million units by the end of the forecast period.
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The rise in cold chain, development in food retail industry, strict food safety and quality regulations, and increase in demand for frozen food along with technical advancement such as reducing the energy consumed by RDCs and chilled rooms, are the major factors promoting the RDCs and chilled rooms industry across the globe. However, the high initial purchasing price and advancing online retail industry are likely to limit the market growth in future.
Horizontal - Top Open RDCs market and Semi-vertical RDCs Market to Observe Slow Growth in Future
Plug-in RDCs and remote RDCs are the two markets based on product type in the global RDCs industry. In 2013, the plug-in RDCs market held the biggest RDCs product market in terms of both revenue and volume.
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The RDCs come in three designs, namely vertical-front open RDCs, horizontal-top open RDCs, and others such as semi-vertical and hybrid RDCs. The vertical front open RDCs held 59.8% of the total revenue share of the global RDCs market. The horizontal-top open RDCs market and semi-vertical RDCs market are likely to observe comparatively slow development in coming years.
Asia Pacific: Biggest and Fastest Growing RDCs and Chilled Rooms Regional Market
The global chilled rooms market is segmented into walk-in freezers, walk-in coolers, and walk-in hybrid rooms on the basis of product types. Walk-in cooler is the biggest as well as the fastest growing product segment in the global chilled rooms industry. It is likely to maintain its leadership in the coming years. The product market in the global chilled rooms industry is likely to witness an exceptional rise in volume and revenue share by almost 83.3% between 2014 and 2020.
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Asia Pacific is the biggest as well as the fastest developing regional market in the global refrigerated display cases and chilled rooms industry, having demand propelled by advancing retail industry, specifically in China and India. North America and Europe are likely to experience relatively slow development. Most of the revenue is will be generated from replacement market owing to stern energy expenditure regulation in these regions.
The global RDCs and chilled rooms market is highly fragmented with a huge number of global and regional participants. Dover Corporation, Frigoglass, Manitowoc Company, Inc., United Technologies Corporation, and Hoshizaki International are a few players dominating the RDCs and chilled rooms market. The key market players keep on doing mergers and acquisitions, development in distribution network, and expansion in product line to gain competitive edge over their peers.
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