Refrigerated Display Cases Market: Remote Operated Devices Expected to Witness Surge in Sales Owing to Better Storage Space Utilisation: Global Industry Analysis 2012 - 2016 and Opportunity Assessment 2017 - 2027
- Rep Id : XPLREP1584
- Published On : August, 2017
- No. of Pages : 331
- Category : Industrial Automation
- Publisher : Future Market Insights
The global refrigerated display cases market is impacted by the demand and supply ratio. The research report on the global refrigerated display cases market portrays different market traits and facets along with enormous data and statistical backing across different geographies. According to XploreMR, the demand for refrigerated display cases has been rising since the past decade and is expected to further increase in the coming years. In terms of volume, the global refrigerated display cases market is pegged at 2.66 Mn units by the end of 2027 and is expected to register a CAGR of 5.1% throughout the period of forecast, 2017 to 2027.
Remote operated devices are worth investing in
Remote operated devices segment by product type is expected to grow at a robust growth rate to reflect a CAGR of 6.5% throughout the period of forecast. This segment also shows dominance with respect to market value and is expected to portray a value share of about US$ 9 Bn by the end of 2027. According to XploreMR forecast, this segment will gain high basis points and reach a market share of nearly 56% by the end of 2027. The plug-in device segment has a comparatively slow growth rate and less market share as well as low volume share; and is poised to reflect a CAGR of 5.8% in terms of value during the forecast period. The growth of the remote operated device segment can be attributed to the growing trend of supermarkets and convenience stores. The plug-in device segment is expected to witness strong demand from emerging nations owing to its low maintenance, low pricing and ease of operation.
APEJ to surpass Europe and North America in the long run; APEJ market favourable for both remote operated and plug-in device types
Asia Pacific excluding Japan (APEJ) region is anticipated to show extraordinary growth during the duration of forecast and is poised to reflect a CAGR of 9.0% during the 2017-2027 period. North America and Western Europe regions have been dominating in the refrigerated display cases market, with North America leading the market. Their market shares have been high since the past decade but the regions have started to experience maturity and are poised to reflect slow growth during the forecast period. Both these regions are witnessing reduced demand for refrigerated display cases, which has hampered the overall volume sales in these regions effectively impacting their sales revenues in the global refrigerated display cases market. On the other hand, Asia Pacific excluding Japan (APEJ) region is expected to witness extremely high demand, and this region is poised to show higher market attractiveness by the end of 2027. The APEJ market is anticipated to contribute towards the growth of the global refrigerated display cases market with an estimated market value of about US$ 5 Bn by the end of 2027. APEJ surpasses both Western Europe and North America in terms of demand and consumption and hence in growth rate as well as market share by revenue by the end of the forecast period. The remote operated device segment is anticipated to grow at a high CAGR of 10.4% in the APEJ region whereas the plug-in device segment will grow at 8.2% during the forecast period.
Factors boosting growth in demand and adoption of refrigerated display cases
Increasing preference for dining out culture as well as growth in the HoReCa sector has fuelled the growth of the global refrigerated display cases market
Changing customer preference towards QSR (Quick Service Restaurants)
Increase in demand for frozen foods
Rising preference of “grab-and-go” type display cases
High demand for plug-in type display cases due to low cost and maintenance
Manufacturing bases shifting to APEJ and MEA regions owing to favourable market conditions
Rising number of warehouses and cold chain facilities
Rapid growth in the global food and beverage industry