NEW YORK, Aug. 31, 2022 /PRNewswire/ — The “Refrigerated Cabinet Market by Product (Storage cabinet, Wine cabinet, and Others) and Geography (APAC, Europe, North America, South Americaand the Middle East and Africa) – Forecast and Analysis 2022-2026″ report has been added to Technavio’s offering. The potential growth difference for the refrigerated cabinet market size between 2021 and 2026 is USD 8.06 bn. To get the exact CAGR and the YOY growth rate, Request a FREE PDF Sample Report.
Key Market Dynamics
- Market Driver: The growing demand for energy-efficient models of commercial refrigeration equipment will drive the growth of the market. Vendors and working on reducing their carbon footprints due to global warming. They are introducing environment-friendly commercial refrigerator cabinets and freezers for eco-conscious industry operators. Manufacturers of refrigerated cabinets are using advanced components such as energy -efficient compressors and intelligent controllers. Such features have encouraged the adoption of new equipment and upgrades. In addition, government agencies and regulatory bodies are introducing policies to promote energy-efficient refrigerators. Such factors have increased the demand for energy-efficient refrigerated cabinets.
- Market Challenge: The high-average product life and maturity for the product category in developed markets affecting upgrade purchases will challenge the growth of the refrigerated cabinet market during the forecast period. Consumers purchase refrigerated cabinets only when required. These products generally do not require frequent replacement. The average life of a refrigerated cabinet is from 9 years to 12 years. This reduces the need for frequent purchases. In addition, end-users generally opt for the replacement of components instead of purchasing new refrigerated cabinets. These factors are hindering the growth of the market.
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Market Segmentation
The refrigerated cabinet market report is segmented by product (storage cabinet, wine cabinet, and others) and geography (APAC, Europe, North America, South Americaand the Middle East and Africa). APAC will be the leading region with 49% of the market’s growth during the forecast period. China and India is the key country for the refrigerated cabinet market in APAC.
View our FREE PDF Sample Report for additional insights into the contribution of all the segments and regional opportunities in the report.
Vendor Landscape
The refrigerated cabinet market is fragmented. Vendors are deploying growth strategies such as prioritizing product innovation by focusing on research and development (R&D) facilities and investments to compete in the market. There is intense competition among vendors, but the market is dominated by established manufacturers. However, there are several new entrants in the market. In addition, the market will witness the use of various product differentiation strategies. Hence, market vendors must distinguish their products to survive the competition.
Some Companies Mentioned
- Afrihill
- 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
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Refrigerated Cabinet Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 3.96% |
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Market growth 2022-2026 |
USD 8.06 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
3.11 |
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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 49% |
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