Global Refrigerated Display Cases Market Report, published by Variant Market Research, forecast that the global market is expected to reach $24.6 Billion by 2024 from $11.9 Billion in 2016, growing at a CAGR of 9.5% from 2016 to 2024. By geography, Asia-Pacific and RoW are expected to grow at a CAGR of 11.1% and 9.7%, respectively, during the forecast period.
"Refrigerated Display Cases Market (By Type: Remote RDC And Plug-In RDC; By Product Design: Hybrid & Semi-Hybrid, Vertical, And Horizontal; By Geography: North America, Europe, Asia-Pacific and RoW) Global Scenario, Market Size, Outlook, Trend and Forecast, 2015 – 2024"
Some of the drivers propelling the growth of global refrigerated display cases market includes growth in food industry, expanding network of retail stores, rising demand for energy-efficient refrigerated cases, increased consumption of chilled and frozen foods, and rising demand from medical and biomedical industry. Though, limited adoption in remote areas could hamper the market growth. Furthermore, growing commercial infrastructure in emerging economies and adoption of advanced technologies would provide several opportunities in forecasted years.
Type, product design, and geography are the major segments included in the global refrigerated display cases market. Type segment is categorized as remote RDC and plug-in RDC. Plug-in RDC accounted the largest market share in type segment, and will continue to dominate with fastest growth rate. Product design is further bifurcated as hybrid & semi-hybrid, vertical, and horizontal. Vertical design held the majority of share in 2016 followed by horizontal.
Europe held the maximum market share in 2016, with 32.3%, driven by adoption of advanced technologies. North America accounted the second largest market share with 26.2%. In terms of growth, Asia-Pacific is expected to dominate with fastest CAGR during the forecast period, owing to rising demand for fresh and frozen food products, and increased adoption among small and medium-sized retailers. The country wise analysis of all the four geographies have been also included in the report.
Major players in the market include Dover Corporation, Epta S.p.a, Hussmann Corporation, Panasonic Corporation, United Technologies Corp., AHT Cooling System GmbH, Beverage-Air Corporation, Illinois Tool Works, Inc., Blue Star Ltd., and Daikin Industries, Ltd., among others.