Refrigerated Display Lighting Market
InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the “Global Refrigerated Display Lighting Market Size, Share & Trends Analysis Report By Type (Fluorescent Lighting And LED Lighting), Application (Chilled-Type Display Cases And Frozen-Type Display Cases), End-User ( Supermarkets, Convenience Stores, Speciality Stores, And Online Retail), Installation (New Installation And Retrofit) And Light Source (Wired And Wireless), Region, Market Outlook And Industry Analysis 2031”
The global refrigerated display lighting market is estimated to reach over USD 7.16 billion by 2031, exhibiting a CAGR of 19.2% during the forecast period.
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Refrigerated display lighting is a common marketing tool for stores to highlight products with a near-expiration date. People are more likely to buy a product if they can immediately spot it in the fridge; this is crucial. Many businesses use refrigerator lights, including supermarkets, gas stations, eateries, nightclubs, and walk-in coolers. Retail establishments selling food and drink, including restaurants, hotels, hypermarkets, and supermarkets, frequently use refrigerated display cases. Products in the food and drink industries are prone to be purchased when displayed in attractive retail display cases (RDCs). Demand for RDCs has been rising in the global refrigerated display case market, driven by the expansion of the retail network and commercial sector that deals in ready-to-eat and prepared food goods. However, some issues limiting the growth of the refrigerated display case market include low knowledge, limited acceptance in less developed regions and growing environmental concerns.
List of Prominent Players in the Refrigerated Display Lighting Market:
• 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
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Market Dynamics:
Drivers-
The growing demand for refrigerated display lighting in the market is fueled by rising customer awareness of the need for energy-efficient lighting solutions and the rising need for refrigerated display cases in the commercial food service industry. This is because, while still providing an adequate amount of light, energy-efficient lights use less power. Reducing energy consumption and environmental effects has been the goal of numerous nations and areas’ stringent policies and norms. Companies must follow these rules, which frequently specify energy efficiency goals for different types of equipment, including those with refrigeration. Because of this, the worldwide market for refrigerated display lighting is expected to expand.
Challenges:
The prime challenge is strict regulations, a shortage of competent individuals and a lack of norms and protocol because of lockdowns and isolation in emerging countries, which is predicted to slow the growth of the refrigerated display lighting market. LED lights may cost more than traditional light bulbs. This cost could be prohibitive for certain businesses, especially those with smaller budgets. Because of this, the global market for cold display lighting will see a slight decline. The global supply networks were affected by the COVID-19 outbreak, which caused a delay in the production and distribution of lighting components. Due to this, refrigerated display lighting equipment production and shipment may have been delayed. Consumer habits shifted, though, due to the epidemic’s impact on online buying. The rise of online shopping has likely caused stores to reconsider their goals for in-store lighting and displays.
Regional Trends:
The North American refrigerated display lighting market is anticipated to register a major market share in terms of revenue. It is projected to grow at a high CAGR in the near future because there is already a well-established retail sector for food and drink. There is a growing demand for organic and fresh products, which necessitates the right lighting and refrigeration. Shops will probably upgrade their lighting systems to make these things look better. Consequently, there will be a greater need for chilled display lights in that area. Besides, Europe had a substantial market share due to technological advancements and affluence. Retail space needs have grown exponentially, consumer tastes have changed, and discretionary spending has surged.
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Recent Developments:
• In June 2023, Lennox Industries, a frontrunner in the smart home market, unveiled several new products, including the S40 Smart Thermostat, Smart Air Quality Monitor, and Smart Room Sensor. These goods ‘ designs aim for energy savings and dependable home comfort.
• In September 2023, GE Vernova was awarded a contract by O2 Power Private Limited to deliver, install, and commission 36 units of its 2.7-132 onshore wind turbines. These wind power projects will be located in Maharashtra, India, with a combined capacity of 97 MW. By signing this deal, renewable energy would be able to reach many Indian businesses and sectors, helping the country get closer to its goal of 500 GW of renewable power.
Segmentation of Refrigerated Display Lighting Market-
By Type-
• Fluorescent Lighting
• LED Lighting
By Application-
• Chilled Type Display Cases
• Frozen Type Display Cases
By End-User-
• Supermarkets
• Convenience Stores
• Specialty Stores
• Online Retail
By Installation-
• New Installation
• Retrofit
By Light Source-
• Wired
• Wireless
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa
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This release was published on openPR.
