Albany, NY -- (SBWIRE) -- 04/20/2019 -- A new research report published by Transparency Market Research states that the global refrigerated display cases market is expected to grow at a rapid pace due to technological developments in advanced refrigerators with unique temperature control features. The report, titled "Refrigerated Display Cases Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 – 2019", discusses the various types of refrigerators in the market and explains in detail the reasons supporting the growth of this market.
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According to the research report, the global refrigerated display cases market was valued at US$8.8 bn in 2013 and is expected to reach US$16.3 bn by 2019, growing at a CAGR of 9.60% from 2013 to 2019. Refrigerated display cases or cabinets are mainly used for storing food products and other products that have to be kept or preserved at low temperatures. Furthermore, the sudden increase in the number of cafes, restaurants, bakeries, and retail stores has given an impetus to the global refrigerated display cases market. The growth of this market is also being encouraged by changes in the eating habits of people, which are shifting towards frozen or chilled food items. The rising disposable incomes of consumers are also expected to augment the demand for refrigerated display cases market across the globe.
The global refrigerated display cases market is segmented on the basis of type of product, design, and geography. The types of products in the global refrigerated display cases market are plug-in (self-contained) and remote. In terms of design, this market is segmented into vertical – front open and horizontal – top open, and others such as hybrid or semivertical. Geographically, this market is segmented into Europe, North America, Asia Pacific, and Rest of the World.
Analysts predict that the demand for medium-sized and small stores will trigger the demand for plug-in refrigerated display cases, as they fit the constraints of a small budget, limited floor space, and power consumption. This trend will also be supported by the low installation time these units take and the ease of portability they offer. These reasons are making plug-in refrigerated display cases popular amongst store owners.
Geographically, Asia Pacific holds a major share in the global refrigerated display cases market due to the contribution of emerging economies. The growth of the commercial sector with respect to restaurants, hotels, the catering industry, and the retail sector is fueling the demand for refrigerated display cases.
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Some of the important players in the global refrigerated display cases market are United Technologies Corporation – Climate, Metalfrio Solutions S.A., Daikin Industries, Ltd., Beverage-Air Corporation, Epta S.p.A., Dover Corporation, Illinois Tool Works, Inc., Controls & Security Unit (Carrier), Hussmann International, Inc., AHT Cooling Systems GmbH, Lennox International, Inc., and Blue Star Ltd. The report explains the competitive landscape of the global refrigerated display cases market along with sharing details pertaining to the financial overview, research and development activities, and investment outlook of key companies for the coming years.