PORTLAND, Oregon and PUNE, India, November 22, 2016 /PRNewswire/ --
According to a new report published by Allied Market Research titled "Global Refrigerated Display Cases Market - Opportunities and Forecasts, 2015 - 2022", the World Refrigerated Display Case (RDC) market is expected to garner $20.8 billion by 2022, with a CAGR of 9.8% during 2016 to 2022. In terms of revenue, Europe dominates the global RDC market, with revenue share of around 32% in 2015, owing to the presence of an established food and beverage retail sector.
Summary of the Global Refrigerated Display Cases Market Report can be accessed on the website at: https://www.alliedmarketresearch.com/refrigerated-display-cases-market
The market is expected to grow at a notable pace over the next five to six years, owing to factors such as expanding organized retail sector including supermarkets and hypermarkets, changing food preferences of people, evolving lifestyles and increasing disposable incomes. Moreover, a plethora of new developments in small scale food and retail sector, and inclination towards food safety concerns, are expected to boost the demand for RDCs in the near future. Owing to emission of greenhouse gases like CFCs and HFCs in existing RDCs, various changes are now being adopted with regards to compressor design, specifically in North American and European countries. For instance, 2015 F-gas regulations in Europe has boosted the demand for replacement and retrofitted cases.
RDC market is segmented by product type and product design. Plug-in and remote RDC are the two key product types available in the market, of which the former enjoys a higher adoption. In 2015, the plug-in RDC segment constituted over 70% of the total market revenue, with an anticipated CAGR of 10.1% from 2016 - 2022. Plug-in RDCs are space and energy efficient, compared to remote RDCs. Moreover, initial capital investment requirements for installation for these product types are lower than remote RDCs.
Vertical RDCs dominate the market in the product design segment, constituting around three-fifths of the market revenue in 2015. The segment is estimated to exhibit the fastest growth during the forecast period. With widespread growth in small and medium sized retail outlets, the demand for Vertical RDCs has witnessed a substantial increase. Horizontal RDCs are expected to exhibit a notable growth trend during the forecast period, owing to their growing demand in organized large size retail food stores. Hybrid RDCs, which have dual temperature control system have been gaining adoption, especially with increasing demand from cafes and quick service restaurants.
Europe is a leader in world RDC market, accounting for a share of 32.6% of the overall market revenue in 2015. The region is expected to maintain its leading position throughout the analysis period. From a growth perspective, APAC is anticipated to exhibit the highest growth, with a CAGR of 11.8% during the forecast period.
KEY FINDINGS OF THE REFRIGERATED DISPLAY CASES MARKET
- Europe was estimated to be the highest revenue generating region in the RDC Market in 2015, owing to the high adoption of refrigeration solutions in the food and beverages retail market.
- Ongoing developments, urbanization, change in food habits and increasing standards of living have promoted the use of refrigerated display cases in Asia-Pacific, which is expected to grow at the fastest rate from 2016-2022.
- Plug-in RDCs segment dominated the RDC Market, and is expected to witness the highest CAGR of 10.1% during 2016-2022.
Some of the leading players in the global market include Metalfrio Solutions S.A, Lennox International, Dover Corporation, Illinois Tool Works Inc., Hussmann Corporation, AHT Cooling Systems GmbH, Epta S.p.a Refrigeration, Frigoglass S.A.I.C, Hoshizaki International, and ISA Italy S.r.l, Verco Limited. Product launches and mergers & acquisitions have emerged as prominent strategies adopted by the leading players. Currently, these companies are focusing on development of energy efficient and eco-friendly RDCs. Companies on the basis of acquisitions and collaborations with new entrants, are working towards maintaining their lead in the market. In 2016, Panasonic Corp. acquired Hussmann, one of the leading manufacturers of refrigerated display cases. This acquisition is expected to be a profitable move for both the companies as Panasonic will get a chance to expand its business foothold in the U.S. market and Hussmann will benefit from Panasonics strong brand image in the Asian Countries.
Summary of similar reports can be viewed at: https://www.alliedmarketresearch.com/consumer-goods/retailing-market-report
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions". AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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SOURCE Allied Market Research