Refrigerated Display Lighting Market Size is valued at USD 1.49 billion in 2022 and is predicted to reach USD 7.16 billion by the year 2031 at a 19.2% CAGR during the forecast period for 2023-2031.
Refrigerated display lighting is one type of retail lighting used to illuminate goods with a near-term expiration date. Things look more appealing to customers when they can easily see them in the fridge. Therefore, this aspect is highly crucial. Stores, including supermarkets, gas stations, bars, restaurants, convenience stores, and walk-in coolers, often use refrigeration lighting. Most of the time, restaurants, hotels, general merchandise stores, hypermarkets, supermarkets, and other food and drink establishments employ refrigerated display cases. Retail display cases (RDCs) aid in attracting consumers by providing an aesthetically pleasing setting for food and drink items.
The worldwide refrigerated display case industry has seen increased demand for RDCs due to the growing retail network and commercial sector that deals in ready-to-eat and prepared food items. Furthermore, as technology progresses, major companies in the market are creating several types of energy efficient RDCs with varied designs to meet the growing demands of the commercial food industry.
However, the market growth is hampered by the high-cost criteria for the safety and health of the refrigerated display lighting market and the product's inability to prevent fog in environments with dramatic temperature fluctuations or high refrigerated display lighting because LED lighting solutions could be more expensive than more conventional alternatives. This expense might be limiting for companies, particularly those with lesser budgets.
The worldwide market for refrigerated display lighting will experience some capitulation due to this. Production and distribution of lighting components were put on hold due to the COVID-19 pandemic on global supply networks. This may have caused a holdup in manufacturing and shipping the chilled display lighting equipment. However, the proliferation of online shopping throughout the epidemic caused consumers to change their routines. Retailers may have rethought their objectives for in-store lighting and displays in light of the growing importance of internet sales.
Competitive Landscape
Some of the major key players in the refrigerated display lighting market are:
- Acuity Brands
- General Electric
- Nualight
- Osram Sylvania
- Philips Lighting
- Ledtech
- SloanLED
- MaxLite
- Lennox International
- Metalfrio Solutions S.A
- AHT cooling systems gmbh
- Orion Energy Systems Inc
- Confidential Data
- Access The Paid Version
- Data Hidden
Market Segmentation:
The refrigerated display lighting market is categorized based on type, application, end-user, installation and light source. Based on type, the market is segmented into fluorescent lighting and LED lighting. By Application, the market is segmented into chilled-type display cases and frozen-type display cases. By end-user, the market is segmented into supermarkets, convenience stores, speciality stores, and online retail. By installation, the market is segmented into new installation and retrofit. By light source, the market is segmented into wired and wireless.
Based On The Type, The Fluorescent Lighting Refrigerated Display Lighting Market Segment Is Accounted As A Major Contributor To The Refrigerated Display Lighting Market
The fluorescent lighting refrigerated display lighting market is expected to have a major global market share in 2022. Using fluorescent lights instead of traditional incandescent bulbs is one way businesses reduce their energy costs without compromising on light quality. Uniform and diffused light from fluorescent tubes were employed to showcase objects in cold display cabinets to their maximum potential. Furthermore, fluorescent tubes provided more consistent and broad illumination, an essential quality for cold display cabinet product display.
Chilled Type Display Cases Segment To Witness Growth At A Rapid Rate
The chilled type display cases make up the bulk of refrigerated display lighting usage because of the prevalence of refrigerated display cases in many retail establishments, including grocery stores, convenience stores, and supermarkets. Dairy goods, drinks, pre-packaged foods, and other items prone to spoilage are showcased in these displays. One factor leading to a more significant market share is the extensive usage of chilled-type display cases in various retail environments, especially in countries like the US, Germany, the UK, China, and India.
In The Region, The North American Refrigerated Display Lighting Market Holds A Significant Revenue Share.
The North American refrigerated display lighting market is expected to register the highest market share in revenue in the near future. It can be attributed to the fact that this area is seeing a surge in urbanization and the construction and modernization of many infrastructures, including economic corridors and smart cities. In addition, Asia Pacific is projected to improve in the global refrigerated display lighting market because more and more people in the area are looking for convenient food options, such as fresh and chilled products, as their incomes grow and their lives change. An increasing number of people are looking for efficient solutions for refrigerated displays.
Refrigerated Display Lighting Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2022 |
USD 1.49 Bn |
|
Revenue Forecast In 2031 |
USD 7.16 Bn |
|
Growth Rate CAGR |
CAGR of 19.2% from 2023 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Bn, and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2022 |
|
Forecast Year |
2023-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Type, Application, End-User, Installation And Light Source |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; Southeast Asia; South Korea |
|
Competitive Landscape |
Acuity Brands, General Electric, Nualight, Osram Sylvania, Philips Lighting, Ledtech, SloanLED, MaxLite, Lennox International, Metalfrio Solutions S.A, AHT cooling systems gmbh, Orion Energy Systems Inc, Confidential Data, Access, The Paid Version, Data Hidden. |
|
Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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