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 America , and 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 Y-O-Y growth rate, Request a FREE PDF Sample Report.
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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The refrigerated cabinet market report is segmented by product (storage cabinet, wine cabinet, and others) and geography (APAC, Europe , North America , South America , and 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.
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.
Haier Smart Home Co. Ltd.
Viessmann Werke GmbH and Co. KG
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Accelerate at a CAGR of 3.96%
APAC, Europe, North America, South America, and Middle East and Africa
US, China, India, Germany, and UK
Leading companies, competitive strategies, consumer engagement scope
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
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
3.4 Market outlook: Forecast for 2021-2026
5.3 Storage cabinet - Market size and forecast 2021-2026
5.4 Wine cabinet - Market size and forecast 2021-2026
5.5 Others - Market size and forecast 2021-2026
7.3 APAC - Market size and forecast 2021-2026
7.4 Europe - Market size and forecast 2021-2026
7.5 North America - Market size and forecast 2021-2026
7.6 South America - Market size and forecast 2021-2026
7.7 Middle East and Africa - Market size and forecast 2021-2026
7.8 US - Market size and forecast 2021-2026
7.9 China - Market size and forecast 2021-2026
7.10 Germany - Market size and forecast 2021-2026
7.11 India - Market size and forecast 2021-2026
7.12 UK - Market size and forecast 2021-2026
8.3 Impact of drivers and challenges
10.5 Haier Smart Home Co. Ltd.
11.3 Currency conversion rates for US$
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