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The refrigerated cabinet market size is forecast to increase by USD 6.71 billion at a CAGR of 3.34% between 2023 and 2028. The market is witnessing significant growth due to the increasing demand for smart retail solutions that prioritize energy optimization. Supermarkets and hypermarkets, as well as budget-conscious businesses, are increasingly investing in innovative refrigeration solutions to effectively store and present perishable goods such as dairy products and deli items. Transparent glass doors allow for easy product viewing, while specialized appliances ensure optimal temperature control. Energy-efficient models are gaining popularity due to their long-term cost savings and reduced environmental impact. The market is saturated with mature products in developed markets, leading some businesses to consider upgrading to more advanced refrigeration systems. The increasing demand for energy-efficient models of commercial refrigeration equipment. This trend is being fueled by rising energy costs and growing concerns over sustainability. Additionally, there is a growing preference for customized refrigerated cabinets to meet specific business needs, particularly in the foodservice industry.
The market is witnessing significant growth due to the increasing demand for perishable goods storage and presentation solutions in various sectors. These sectors include retail settings, commercial establishments, convenience stores, food service establishments, and residential applications. Refrigerated cabinets play a crucial role in the storage and presentation of perishable items such as dairy products, beverages, Meat, and fresh produce. Transparent glass doors provide excellent product visibility, enhancing the shopping experience for consumers in Grocery stores and deli sections. Specialized appliances, including refrigerated cabinets, are essential for maintaining regulated temperatures in commercial and industrial settings.
Furthermore, food safety laws mandate the use of controlled refrigeration environments to ensure the safety and quality of perishable goods. The market for refrigerated cabinets is diverse, catering to the unique needs of different industries. In the food service sector, specialized storage units are required to maintain the temperature sensitivity of dairy products and meat. In the pharmaceutical industry, refrigerated cabinets are used for storing temperature-sensitive medications. The convenience store sector is also a significant contributor to the growth of the refrigerated cabinets market. These stores require efficient and reliable refrigeration systems to maintain the freshness of perishable goods and ensure customer satisfaction.
Moreover, product innovation is a key trend in the refrigerated cabinets market. Manufacturers are focusing on developing energy-efficient and cost-effective solutions to meet the evolving needs of businesses. The use of advanced refrigeration systems and specialized storage units is gaining popularity due to their ability to maintain consistent temperatures and reduce energy consumption. In conclusion, the refrigerated cabinets market in the US is experiencing steady growth due to the increasing demand for perishable goods storage and presentation solutions in various industries. The market is diverse, catering to the unique needs of different sectors, and is driven by trends such as product innovation and energy efficiency. Businesses looking to invest in refrigerated cabinets can benefit from the latest technology and energy-efficient solutions to meet their commercial, industrial, and residential needs.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The storage cabinet segment is estimated to witness significant growth during the forecast period. Refrigerated cabinets, which exclude display models, are vital pieces of equipment in commercial settings for storing food and temperature-sensitive medications. These cabinets offer controlled refrigeration environments with adjustable temperatures and are available in both chilled and frozen types. They are widely used in various sectors, including retail outlets, commercial kitchens, hospitals, and pharmacies. The expansion of the retail industry, particularly in developing countries, fuels the demand for refrigerated storage solutions. In the Asia Pacific region, the growing investments in the retail and foodservice industries are propelling the market for refrigerated cabinets.
Furthermore, these units are customizable, with options for drawers or doors for access, and are available in low and medium temperature ranges to cater to diverse commercial and industrial needs. Food safety laws and regulations further highlight the importance of maintaining proper storage conditions for perishable items, making refrigerated cabinets an indispensable asset.
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The storage cabinet segment accounted for USD 28.54 billion in 2018 and showed a gradual increase during the forecast period.
APAC is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The food service and food retail industry in APAC, particularly in China and India, is experiencing significant growth due to improved socio-economic conditions. These infrastructure developments are likely to increase the demand for refrigerated cabinets in various applications, including fast-food chains, hotels, pharmacies, and healthcare facilities. Consequently, the market in APAC is anticipated to grow steadily during the forecast period.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Growing demand for energy-efficient models of commercial refrigeration equipment is the key driver of the market. In response to growing concerns about energy consumption and environmental impact, companies are innovating with eco-friendly refrigerated display solutions for various industries. Retail settings, Convenience stores, and food service establishments are increasingly adopting these energy-efficient alternatives for perishable products such as dairy, beverages, meat, and fresh food. These refrigerated cabinets and freezers utilize advanced technology, including energy-efficient compressors and intelligent controllers, to optimize energy usage while maintaining high-quality food preservation.
Additionally, environmentally friendly refrigerants are being incorporated into these systems. By investing in these solutions, industry operators can reduce their carbon footprint and contribute to sustainability efforts, making them an attractive choice for businesses seeking to be more socially responsible.
Growing preference for customized refrigerated cabinets is the upcoming trend in the market. Refrigerated cabinets have become essential in various business sectors, particularly in supermarkets and hypermarkets, to ensure the proper storage and presentation of perishable goods such as dairy products and deli items. Customization plays a significant role in the selection of refrigerated cabinets, enabling businesses to meet their unique requirements. companies offer innovative refrigeration solutions, including specialized appliances, to cater to diverse applications. Customized refrigerated cabinets offer several benefits, including energy optimization and the ability to accommodate various configurations and capacities. By tailoring refrigerated cabinets to specific needs, businesses can avoid wastage of energy and resources. Transparent glass doors allow for easy viewing of merchandise, enhancing the shopping experience for consumers.
Moreover, customized refrigerated cabinets provide an opportunity to incorporate the latest technological advances, ensuring optimal refrigeration for all food items. For budget-conscious businesses, energy-efficient refrigerated cabinets are a wise investment, reducing operational costs in the long run. In conclusion, the adoption of customized refrigerated cabinets is a strategic decision for enterprises seeking to provide smart retail solutions and maintain the quality and freshness of their perishable goods.
High-average product life and maturity for product category in developed markets affecting upgrade purchase is a key challenge affecting the market growth. Refrigerated cabinets are essential infrastructure for various industries, including e-commerce and foodservice, to maintain the freshness and quality of perishable goods. With the increasing trend of online grocery shopping and the expansion of fresh food sections, the demand for energy-efficient and sustainable refrigerated cabinets is on the rise. The food service industry also relies heavily on these cabinets to maintain the temperature of ingredients and dishes. The Internet of Things (IoT) technology is increasingly being integrated into refrigerated cabinets to minimize food spoilage and reduce environmental concerns. Energy-efficient compressors and the use of natural refrigerants, such as CO2 and hydrocarbons, are becoming popular choices to minimize the global warming potential of these appliances.
However, despite these advancements, the high-average product life of refrigerated cabinets poses a challenge to market growth. Consumers typically keep their refrigerated cabinets for between 9 and 12 years before replacement, which results in minimal purchases. The high cost of replacement also encourages end-users to opt for component replacement instead of buying a new cabinet. However, the need for sustainable and energy-efficient refrigerated cabinets is expected to drive market growth during the forecast period. In conclusion, the market is witnessing significant growth due to the increasing demand for sustainable and energy-efficient solutions in the e-commerce, online grocery shopping, and foodservice industries. The integration of IoT technology and the use of natural refrigerants are key trends in the market, while the high-average product life and consumers' reluctance to upgrade remain growth barriers.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Ali Group S.r.l: The company offers refrigerated cabinets under the brands such as Friulinox, and Polaris.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Refrigerated cabinets play a crucial role in various retail and commercial settings, including convenience stores, food service establishments, and supermarkets and hypermarkets. These solutions are essential for preserving perishable products such as dairy, beverages, meat, fresh food products, and high-quality food items. With the increasing focus on energy efficiency and environmental sustainability, refrigerated display solutions are being designed to be energy efficient and utilize environmentally friendly refrigerants. In the retail sector, refrigerated cabinets are used to enhance product visibility and extend shelf life, ensuring food safety and maintaining optimal temperatures. The convenience of e-commerce and online grocery shopping has led to an increased demand for refrigerated cabinets in fresh food sections.
Furthermore, the foodservice industry also relies on specialized refrigeration solutions for storing and presenting perishable goods. Energy optimization is a key consideration in the design of refrigerated cabinets, with energy efficient compressors, insulation materials, and smart temperature sensors being utilized. The Internet of Things (IoT) is also being integrated into refrigerated cabinets, enabling real-time monitoring, remote monitoring, and energy efficient solutions. Moreover, these advancements include the integration of smart technologies such as IoT sensors, digital displays, and real-time monitoring systems, which optimize energy usage and ensure regulated temperatures for various sectors, including food, medicine, retail, and industrial applications. Regardless of the specific needs of the retail, commercial, or industrial sector, refrigerated cabinets provide a controlled refrigeration environment that is essential for maintaining the quality and safety of temperature-sensitive products. Food safety laws and regulations continue to evolve, making it crucial for businesses to invest in innovative refrigeration solutions that meet their unique requirements.
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Market Scope |
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Report Coverage |
Details |
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Page number |
152 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 3.34% |
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Market Growth 2024-2028 |
USD 6.71 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
3.09 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 39% |
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Key countries |
US, China, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Africhill, Ali Group S.r.l., Carrier Global Corp., Coldline Srl, Daikin Industries Ltd., Dalucon Refrigeration Products CC, Dover Corp., Frigo DebtCo plc, Haier Smart Home Co. Ltd., Hengel Industrie, HOSHIZAKI Corp., Husky Corp., Illinois Tool Works Inc., Imbera, ISA Spa, LEEC Ltd., Liebherr International AG, Panasonic Holdings Corp., SCHOTT AG, and Viessmann Werke GmbH and Co. KG |
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Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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