The plug-in RDCs segment is the largest product segment of the global refrigerated display cases market and is expected to grow at a CAGR of around 5% by 2020, says Technavio.
Technavio has announced its latest market research report on refrigerated display cases for the forecast period, 2016-2020. This market analysis discusses the major drivers and key emerging trends that will influence the growth of the global RDC market during the forecast period. Some of the top vendors listed in this industry analysis include AHT Cooling Systems, Carrier, EPTA, and Metalfrio Solutions.
Among various geographies, APAC will be the fastest growing region in the global market, by contributing revenues of around $3 billion by 2020. China and India will emerge as the key revenue-generators.
“The adoption of ammonia as a refrigerant will increase in industries that are dominated by synthetic refrigerants. As the use of synthetic refrigerants lead to ozone layer depletion and the global warming phenomenon. To reduce the usage of these refrigerators various regions like EU and the US have altered and adopted policies restricting the use of HFC refrigerants,” says Abhay Sinha, a senior analyst at Technavio.
Click here to request a free sample of this report
This new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Growing demand for remanufactured RDCs
Remanufacturing is the process of upgrading a product with an equivalent warranty. The re-manufacturing process is often applied to make an RDC more energy-efficient as remanufacturing an RDC reduces carbon dioxide emissions by about 4,400 pounds compared with manufacturing a new one. After re-manufacturing, RDCs often function similar or better than new equipment. Remanufacturing display unit offers cost benefits and also allows the user to mix, match, and collaborate store cases and make RDC look more attractive.
Increasing demand for frozen food
The rising population and social trend have augmented the demand for frozen foods. The economy will see significant changes in the way the consumers perceive frozen foods. The global frozen food product industry experienced strong growth in 2015, by contributing a revenue of around $145 billion. The chief reason for the growth of the frozen food market is the increase in the percentage of working females, changing lifestyle and dynamics of the society. The rising demand for frozen food compels supermarkets and other retail outlets to store these products, thereby increasing the need for RDCs in these outlets to drive product sales through visual appeal.
Growth of commercial refrigeration market
The growing demand for frozen and packaged food products creates demand for commercial refrigerators. Perishable food category accounts for one-third of the total food production in the world and the lack of refrigeration results in the decay of these food items. To preserve perishable items and reduce food wastage, an increased penetration of refrigeration equipment is required in the regions especially in APAC. Commercial refrigerators enhance the storage potential of food items when refrigerated at the optimum temperature. The growth of supermarkets fuels the growth in the adoption of commercial refrigerators such as RDC. With the rapid urbanization and improvement in consumer lifestyle worldwide, the demand for RDCs is rising. For instance, the rising rate of urbanization in India leads to the growth in the retail sector, which has been experiencing a rapid growth since 2000 and will drive the demand for RDCs in the country during the forecast period.
Some of the other prominent vendors identified in this report are Beverage-Air, Coldline, Foster, Haier, Hengel, Husky, Hussmann, Illinois Tool Works, Imbera Foodservice, Irinox, Marvel, Master-Bilt, Nor-Lake, True Manufacturing, Whirlpool, and Williams Refrigeration.
This research report includes an in-depth analysis, market shares, and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, and key financials. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Refrigerated Display Cases Market 2016-2020‘. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Refrigerated Cabinet Market 2016-2020
- Global Refrigerator Market 2016-2020
- Global HVAC Refrigerant Market 2016-2020
- Refrigerated Transportation Market in the US 2015-2019
To read more press releases- click here.
For any assistance or query, please contact our media team at:
media@technavio.com
US: +1 630 333 9501
UK: +44 208 123 1770
https://www.technavio.com/
