Refrigerated Cabinet Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026

The predicted growth of the refrigerated cabinet market share from 2021 to 2026 is USD 8.06 billion at a progressing CAGR of 3.96%.

This refrigerated cabinet market research report extensively covers refrigerated cabinet market segmentation by:

• Product - Storage cabinet, Wine cabinet, and Others
• Geography - APAC, Europe, North America, South America, and Middle East and Africa

The refrigerated cabinet market vendors are - Africhill, Ali Group Srl, Carrier Global Corp., Coldline Srl, Daikin Industries Ltd., Dalucon Refrigeration Products CC, Dover Corp., FRIGOGLASS SAIC, Haier Smart Home Co. Ltd., Hengel Industrie, HOSHIZAKI Corp., Husky Corp., Illinois Tool Works Inc., ISA Spa, LEEC Ltd., Liebherr International AG, Metalfrio Solutions SA, Panasonic Corp., SCHOTT AG, Viessmann Werke GmbH and Co. KG, and Imbera among others.

What will the Refrigerated Cabinet Market Size be During the Forecast Period?

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Refrigerated Cabinet Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The growing demand for energy-efficient models of commercial refrigeration equipment is notably driving the refrigerated cabinet market growth, although factors such as high-average product life and maturity for product category in developed markets affecting upgrade purchase may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the refrigerated cabinet industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Refrigerated Cabinet Market Driver

One of the key factors driving growth in the refrigerated cabinet market is the growing demand for energy-efficient models of commercial refrigeration equipment. Vendors and customers are working toward reducing their carbon footprints due to global warming and high energy consumption. Vendors are introducing environment-friendly commercial refrigerator cabinets and freezers, appealing to eco-conscious industry operators in the end-user market. The manufacturers of refrigerated cabinets are using state-of-the-art components such as energy-efficient compressors and intelligent controllers that are used to increase energy efficiency for the refrigerated cabinet without forgoing the capability. Such features and benefits of using energy-efficient refrigerated cabinets have encouraged the adoption of new equipment and equipment upgrades among end-users. In addition, various government agencies and regulatory bodies governing the market are constantly framing policies to promote energy-efficient refrigerators. Such favorable government policies have increased the demand for energy-efficient refrigerated cabinets.

Key Refrigerated Cabinet Market Trend

The growing preference for customized refrigerated cabinets is a refrigerated cabinet market trend that is expected to have a positive impact in the coming years. Customization in this context refers to the modification of refrigerated cabinets according to end-users tasks. Vendors offer customized refrigerated cabinets to match their customer's applications. A customized refrigerated cabinet enables consumers to take advantage of the latest technological advances, which can meet the changing refrigeration needs of users. An oversized refrigerated cabinet leads to the wastage of energy and money, while a small refrigerated cabinet tends to operate constantly without maintaining ideal temperatures for all food items stored. Hence, the benefits of customized refrigerated cabinets are increasing the demand for refrigerated cabinets. The growing preference for customized refrigerated cabinets will lead to the growth of the global refrigerated cabinets market during the forecast period.

Key Refrigerated Cabinet Market Challenge

The high-average product life and maturity for product category in developed markets affecting upgrade purchase will be a major challenge for the refrigerated cabinet market during the forecast period. Due to the high-average product life, consumers purchase refrigerated cabinets only when required. These products are meant for long-term use and generally do not require frequent replacement. The average life of a refrigerated cabinet is between 9 and 12 years. This eliminates the need for the frequent purchase of refrigerated cabinets, which acts as a major growth barrier for the market. Consumers only need to incur minimal maintenance costs. In addition, due to the high cost of the replacement of refrigerated cabinets, end-users usually opt for the replacement of components instead of buying a new refrigerated cabinet. Therefore, high-average product life and consumers unlikely to upgrade their refrigerated cabinets are hindering the growth of the market.

This refrigerated cabinet market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global refrigerated cabinet market as a part of the global household appliances market within the global household durables industry. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the refrigerated cabinet market during the forecast period.

Who are the Major Refrigerated Cabinet Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• Africhill
• Ali Group Srl
• Carrier Global Corp.
• Coldline Srl
• Daikin Industries Ltd.
• Dalucon Refrigeration Products CC
• Dover Corp.
• FRIGOGLASS SAIC
• Haier Smart Home Co. Ltd.
• Hengel Industrie
• HOSHIZAKI Corp.
• Husky Corp.
• Illinois Tool Works Inc.
• ISA Spa
• LEEC Ltd.
• Liebherr International AG
• Metalfrio Solutions SA
• Panasonic Corp.
• SCHOTT AG
• Viessmann Werke GmbH and Co. KG
• Imbera

 

This statistical study of the refrigerated cabinet market encompasses successful business strategies deployed by the key vendors. The refrigerated cabinet market is fragmented and the vendors are deploying growth strategies such as prioritizing product innovation by focusing on research and development (R and D) facilities and investments to compete in the market.

Product Insights and News

• Ali Group Srl - Ali Group Srl is a privately held company headquartered in Italy. It is a global company, with limited information regarding its financials and has around 10,000 employees. Its revenue from the global refrigerated cabinet contributes to its overall revenues along with its other offerings, but it is not a key revenue stream for the company. 
• Ali Group Srl - The company offers refrigerated cabinets under the brands such as Friulinox, and Polaris.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The refrigerated cabinet market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Refrigerated Cabinet Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the refrigerated cabinet market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Refrigerated Cabinet Market?

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49% of the market's growth will originate from APAC during the forecast period. China and India are the key markets for refrigerated cabinets in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The improved and stabilized socio-economic conditions in APAC countries will facilitate the refrigerated cabinet market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The market in the region witnessed certain challenges owing to the outbreak of COVID-19. The outbreak resulted in the imposition of a prolonged lockdown in this region that negatively affected the overall economy of the region and the supply chain of both industrial and commercial sectors. However, the increasing number of deaths and rising hospitalization rates due to the COVID-19 pandemic, on the other hand, fuel the demand for mortuary cabinets and refrigerated cabinets from healthcare facilities in the region. 

What are the Revenue-generating Product Segments in the Refrigerated Cabinet Market?

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The refrigerated cabinet market share growth by the storage cabinet segment will be significant during the forecast period. The growth of the retail sector across the world, especially in emerging countries, drives the demand for refrigerated storage cabinets. Refrigerated cabinets have extensive application in retail outlets, commercial kitchens, hospitals, institutional catering, and pharmacies, among others. The increasing number of investments in the retail sector and the food service industry in APAC is driving the growth of storage cabinets in the region.

This report provides an accurate prediction of the contribution of all the segments to the growth of the refrigerated cabinet market size and actionable market insights on post COVID-19 impact on each segment.

 

Refrigerated Cabinet Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 3.96%
Market growth 2022-2026	$ 8.06 billion
Market structure	Fragmented
YoY growth (%)	3.11
Regional analysis	APAC, Europe, North America, South America, and Middle East and Africa
Performing market contribution	APAC at 49%
Key consumer countries	US, China, India, Germany, and UK
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Africhill, Ali Group Srl, Carrier Global Corp., Coldline Srl, Daikin Industries Ltd., Dalucon Refrigeration Products CC, Dover Corp., FRIGOGLASS SAIC, Haier Smart Home Co. Ltd., Hengel Industrie, HOSHIZAKI Corp., Husky Corp., Illinois Tool Works Inc., ISA Spa, LEEC Ltd., Liebherr International AG, Metalfrio Solutions SA, Panasonic Corp., SCHOTT AG, Viessmann Werke GmbH and Co. KG, and Imbera
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
Customization purview	If our 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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What are the Key Data Covered in this Refrigerated Cabinet Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive refrigerated cabinet market growth during the next five years
• Precise estimation of the refrigerated cabinet market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the refrigerated cabinet industry across APAC, Europe, North America, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of refrigerated cabinet market vendors

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