DUBLIN, October 25, 2016 /PRNewswire/ --
Research and Markets has announced the addition of the "Global Refrigerated Cabinet Market 2016-2020" report to their offering.
The global refrigerated cabinet market is forecast to grow at a CAGR of 4.41% during the period 2016-2020.
Commenting on the report, an analyst from the research team said: that rising burial costs is one of the trends spurring growth for the market. The cost of burial to rise further in the future, resulting in higher demand for refrigerated mortuary cabinets. Given the growth in demand, the burial costs are expected to reach over $8,350 by 2020. This average cost of burial includes coffin charges, electricity consumption during the preparation for the funeral, and travel expenses.
Mortuary cabinets are widely used in the UK and the US. The rising burial costs and the unavailability of the land increase the demand for refrigerated mortuary cabinets, as families find it difficult to bury the bodies. The rising death rates, rising burial prices, and the increased number of corpses in mortuaries will drive the demand for refrigerated mortuary cabinets during the forecast period.
According to the report, rising number of patents for refrigerated cabinets is a key driver aiding to the growth of this market. The number of patents for refrigerated cabinets is growing worldwide. The rise in the number of patent applications and granted patents shows a positive outlook for the market for refrigerated cabinets worldwide. Patent applications and approvals indicate the constant product innovation in the market.
Product innovation is vital for the market and lack of innovation leads to market stagnation and decline in market revenue. Leading players in the market understand the value of product innovation and are increasing their R&D activities as a strategy to increase their market share worldwide. So, constant innovation is driving the market growth and demand for refrigerated cabinets, especially in developed countries.
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
- Illinois Tool Works
- Dalucon Refrigeration Products
- Husky International
- Imbera Foodservice
- True Manufacturing
- Williams Refrigeration
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Product life cycle analysis
PART 07: Market segmentation by product
PART 08: Geographical segmentation
PART 09: Market drivers
PART 10: Impact of drivers
PART 11: Market challenges
PART 12: Impact of drivers and challenges
PART 13: Market trends
PART 14: Vendor landscape
PART 15: Key vendor analysis
PART 16: Appendix
PART 17: About the Author
For more information about this report visit http://www.researchandmarkets.com/research/np9mj3/global
Research and Markets
Laura Wood, Senior Manager
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SOURCE Research and Markets