The global Refrigerated Display Cases Market is anticipated to progress at a CAGR of 5.5%, currently accounting for a market value of US$ 8.2 Billion in 2022. The global market value is likely to surpass US$ 14 Billion by 2032. The forum accounted for a market valuation of US$ 7.8 Billion in the year 2021.
Furthermore, it has been revealed by the analysts at FMI after an in-depth study of the market that the adoption of advanced magnetic refrigeration technology is likely to boost market growth in the country. The newly launched technology is based on the magnetocaloric effect, with a change in temperature induced by applying a reversible magnetic field.
The integration of magnetic refrigeration technology for beverage air refrigerated display cases, front opening refrigerated display cases, and others is cost-efficient, durable, safe, eco-friendly, and reduces overall power consumption, thus enabling its utilization in the global refrigerated display cases market globally. Therefore, the market is estimated to have significant growth in the U.S. through the forecast period.
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Key Takeaways from the Refrigerated Display Cases Market
- The U.S. refrigerated display cases market registered a market valuation of US$ 1.7 Billion during the base year.
- The refrigerated display cases market is projected to advance at a moderate pace, registering a CAGR of 6% through the projection period.
- By the end of 2032, the market in the U.S is estimated to reach a high of US$ 3.23 Billion.
- In 2022, the refrigerated display cases market in the U.S. is accountable for a total market valuation of US$ 1.80 Billion.
Competition Landscape in the Refrigerated Display Cases Market
There are increasing research and development activities being undertaken by the manufacturers of the market. They are entering into strategic partnerships and collaborations to strengthen their footprint and establish supply chain networks in emerging countries. The regional distributors are identified to play a pivotal role in channel reach.
Emerson Electric Co., Nor-Lake, Inc., The Middleby Corporation, Hillphonenix, and A Dover Company are some of the companies proliferating in the refrigerated display cases market.
Recent Developments
- In May 2021, Emerson Electric Co. donated sustainable refrigeration to a Gem City Market at Helix Innovation Center in Dayton, Ohio. It is a collaborative grocery store in a local food desert that sells fresh food products.
- In June 2021, Carrier Corporation delivered 16 new trucks and vans fitted with its Transiocold refrigeration systems to Euro Foods, which deals in the chilled and frozen food supply.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets.
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