Albany, New York, May 4, 2017 – The global refrigerated counter market has been prognosticated to rake in a colossal demand from the North America and Europe regions which are marked with a mammoth presence of catering services and hotels. In a report added by Market Research Reports Search Engine (MRRSE), the analysts have anticipated the global market to attain a ballpark figure of US$8.7 bn by the end of 2024 at a CAGR of 7.7%. In 2015, the market had stood at US$4.5 bn. The report is titled as Refrigerated Counter Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016-2024.” The world refrigerated counter market has been forecasted to receive pivotal support from the intensely uncompromising government policies associated with food quality and safety. The market is also foreseen to take advantage of the demand for replacing harmful refrigerants and various regulations implemented for the control of energy consumption. In addition, the soaring growth of travel and tourism which has augmented the establishment of several hotels and restaurants is analyzed to raise the hopes of the global market.
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In 2015, North America held a king’s share in the international refrigerated counter market. The authors of the report have examined the region to continue with its dominating flourish on the back of the U.S. market. In the forthcoming years, a large number of full-service hotels and restaurants is foretold to stimulate the demand in North America. Comparatively, the Middle East and Africa and other markets are studied to suffer a lag in demand.
However, Asia Pacific is prophesied to leverage the developments witnessed in its hospitality industry to exhibit signs of an impressive growth. The quick-service hotels and cafes in developing nations such as India and China are expected to help the regional market cement a strong position in the industry. Nonetheless, the reward for a probable consistent share in the global refrigerated counter market has been marked on the part of Europe. Between 2016 and 2024, the region is predicted to register a CAGR of 6.6%.
By end use, the world refrigerated counter market has been segmented into hotels and system catering, where the later contains sub-segments such as full-service restaurants, location specific catering, catering service, and quick service restaurants (QSRs). The report has foreseen a heated competition between the two major end users. With the aggressive construction of luxury hotels in the developed markets, system catering is anticipated to lose some of its share with the hotels segment marking a revenue CAGR of 9.3% throughout the forecast period. Nonetheless, it is worth mentioning the 80.9% share earned by system catering in 2016. Much of the demand in this segment has been attributed to the larger revenue earned by QSRs.
The competition matrix has been accurately formulated while taking into account the critical business strategies of the key companies analyzed in the report. Players such as Infrico S.L., Inoksan Group, The Middleby Corp., Coldline Srl, Afinox Srl, Ali S.p.A., Angelo Po Grandi Cucine S.p.A., Avantco Refrigeration, True Manufacturing Co. Inc., and Continental Refrigerator have been extensively examined by the analysts.
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