Glass Door Refrigerators Market Upswing Due To Rapid Proliferation Of Retail Supermarkets Across The World
The intense competition between small-scale regional manufacturers
characterizes the competitive landscape of the global market for
glass door refrigerators, finds TMR. The market demonstrates a highly
fragmented structure with just a few established names, including
Dover Corp., Hoshizaki Int., Carrier Corp., and Hussman Int.
Emerging economies are the current target of the leading
manufacturers of glass door refrigerators to sustain the competition.
As key retail chains are focusing aggressively on expanding in
developing countries, these players are seeing potential
opportunities for growth in these regions.
Worldwide Proliferation of Supermarkets Boosts Glass Door
Refrigerators Market
“The rapid proliferation of retail supermarkets across the world is
the key driving force behind the significant growth of the market for
glass door refrigerators,” reveals an analyst at TMR. With the
increasing competition in the retail sector, supermarkets,
hypermarkets, and convenience stores are compelled to utilize glass
door refrigerators to keep their products visible in order to ensure
their sales.
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Looking forward, the emerging economies are likely to present ample
growth opportunities to glass door refrigerators manufacturers.
Stimulated by the saturation in the developed nations of Europe and
North America, a number of retail chain operators are targeting the
emerging economies of Asia and South America for further growth.The
global leaders in the retail sector, including the U.S.-based
WalMart, France-based Carrefour, the U.K.-based Tesco, and
Germany-based Metro are now expanding to developing economies such as
Brazil, India, and China. The entry of such retail supermarkets in
these countries are likely to help their domestic glass door
refrigerators evolve considerably, supporting the local
manufacturers.
On the flip side, the availability of alternative cooling solutions
is anticipated to negatively influence the demand for these
refrigerators in the near future. As compared to large refrigeration
systems, alternative cooling solutions, such as
temperature-controlled packaging systems and cold chain solutions are
highly preferred among small-scale retailers on account of their low
cost.
Hypermarkets to Remain Leading Distribution Channel for Glass Door
Refrigerators
“Glass door refrigerators are registering a remarkable rise in in
their global demand,” finds TMR. Analysts estimate the opportunity
in these refrigerators to increase from US$6.5 bn in 2014 to US$13.7
bn by 2023, expanding at a CAGR of 8.60% during the period from 2015
to 2023.Currently, Asia Pacific leads the demand for glass door
refrigerators across the world. At a CAGR of 9.50% between 2015 and
2023, it is expected to register the fastest growth in the coming
years. In 2014, Asia Pacific held an opportunity of US$2.6 bn in
glass door refrigerators, which is likely to increase to
approximately US$6 bn by the end of 2023.
Glass door refrigerators with a capacity of 3.1 to 6.0 cu ft. were
the most preferred refrigerators in 2014 and are expected to remain
the same during the forecast period. Hypermarkets will remain the
leading distribution channel for these refrigerators in the coming
years.
The study presented here is based on the findings of a report by
Transparency Market Research (TMR) titled “Glass Door Refrigerators
Market - Global Industry Analysis, Size, Share, Growth, Trends and
Forecast 2015 – 2023.”
Key Takeaways:
- Asia Pacific leads Demand for Glass Door Refrigerators
- Emerging Economies to Present Ample Growth Opportunities to Glass Door Refrigerator Manufacturers
- Intense Competition between Small-Scale Regional Manufacturers Characterizes competitive landscape
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