Led Refrigerated Display Cabinet Lights Market
LED Refrigerated Display Cabinet Lights Market Forecasts to 2030 - Global Analysis By Type (Warm Color LED Refrigerated Display Cabinet Lights, Cool Color LED Refrigerated Display Cabinet Lights and Other Types), Application (Closed Refrigerated Display Cabinet, Open Refrigerated Display Cabinet and Other Applications) and By Geography
|
Years Covered |
2021-2030 |
|
CAGR (2023 - 2030) |
9.0% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Europe |
According to Stratistics MRC, the Global LED Refrigerated Display Cabinet Lights Market is growing at a CAGR of 9.0% during the forecast period. Illumination solutions designed for refrigerated display units in commercial spaces such as supermarkets and convenience stores, known as LED Refrigerated Display Cabinet Lights, are energy-efficient. These lights minimize heat generation while providing bright, uniform lighting due to the use of light-emitting diodes (LEDs). It enhance product visibility, showcasing items with clarity and vibrancy, they are specifically engineered to operate in cold environments, ensuring optimal performance even in refrigerated conditions and enhancing the presentation of perishable goods in refrigerated display cabinets.
Market Dynamics:
Driver:
Government incentives
Governments worldwide are actively promoting energy efficiency and sustainability, recognizing the pivotal role that lighting technologies play in reducing overall energy consumption. Incentives, such as tax credits, subsidies, and grants, are offered to businesses that invest in energy-efficient technologies like LED lighting. Additionally, by providing these incentives, governments aim to accelerate the adoption of environmentally friendly practices, reduce greenhouse gas emissions, and contribute to national energy conservation goals, thereby propelling the market size.
Restraint:
Initial Cost
The upfront investment for purchasing and installing LED lighting systems can be higher compared to traditional alternatives. Businesses, particularly smaller ones or those with limited capital budgets, may find the initial cost prohibitive and may hesitate to make the switch to LED Refrigerated Display Cabinet Lights. In addition to the cost of purchasing LED fixtures, there may be additional expenses related to modifying pre-existing cabinets to accept LED lighting, which are hampering market growth.
Opportunity:
Technological innovations
Innovation in LED technology has led to improvements in efficiency, performance, and functionality, making these lighting solutions increasingly attractive to businesses. These systems allow for remote monitoring, control, and customization of lighting settings, optimizing energy usage and enhancing the overall user experience. Furthermore, the incorporation of sensors and automation features is another notable advancement that not only contributes to energy efficiency but also aligns with the broader trend of creating smarter and more sustainable retail environments, which is driving this market size.
Threat:
Environmental hazards
The manufacturing process of LEDs involves the use of various materials, some of which may be environmentally sensitive or resource-intensive. The production of LED chips may involve rare earth elements, which can contribute to environmental degradation during extraction and processing. While LEDs contain fewer hazardous substances compared to traditional lighting technologies like fluorescent lights, proper recycling methods are crucial to avoid potential environmental hazards. Inefficient or improper disposal may result in the release of toxic materials into the environment.
Covid-19 Impact
The COVID-19 pandemic has had several negative impacts on the LED Refrigerated Display Cabinet Lights market. Lockdowns, supply chain disruptions, and economic uncertainties have collectively affected businesses and their willingness to invest in non-essential upgrades. It also altered consumer behavior, with a shift towards online shopping and reduced foot traffic in physical stores. In addition, many retailers, particularly those in the food and beverage sector, faced financial constraints and operational challenges, leading to a delay or cancellation of planned lighting renovations, which is impeding this market expansion.
The warm color LED refrigerated display cabinet lights segment is expected to be the largest during the forecast period
The warm-color LED refrigerated display cabinet light segment is estimated to hold the largest share, due to the fact that it is specifically designed for use in refrigerated display cases. These lights are available in a range of color temperatures and offer significant energy savings, lower maintenance costs, and more visually appealing displays. It is particularly well-suited for areas where aesthetics and customer engagement are paramount, such as in premium grocery stores, specialty food shops, and high-end retail environments. Furthermore, the diverse needs of businesses aiming to strike a balance between aesthetics and the functional illumination required for refrigerated displays are driving this segment's growth.
The closed refrigerated display cabinet segment is expected to have the highest CAGR during the forecast period
The closed refrigerated display cabinet segment is anticipated to have highest CAGR during the forecast period, due to the specific lighting requirements of enclosed refrigeration units which are commonly found in supermarkets, convenience stores, and specialty retail environments. These are designed to maintain a controlled environment for perishable goods, and the lighting solutions. Additionally, this addresses the need for lighting solutions that enhance visibility while minimizing heat output, making it an ideal choice for refrigerated units with limited ventilation which contributes to a visually appealing presentation of products, supporting businesses which are boosting this segment expansion.
Region with largest share:
North America commanded the largest market share during the extrapolated period owing to the region's commitment to environmentally responsible practices and the pursuit of cost-effective, innovative lighting solutions. Countries such as Canada, Mexico, and the United States contribute continuous technological advancements and product innovations. Furthermore, retailers, supermarkets, and convenience stores seek lighting solutions that enhance product visibility and contribute to a positive shopping experience with stringent energy efficiency regulations and green building initiatives, thereby boosting this market’s growth.
Region with highest CAGR:
Europe is expected to witness highest CAGR over the projection period, owing to energy conservation awareness and sustainability initiatives, making LED lighting a popular choice for its energy-saving benefits. This growth can be attributed to government regulations promoting energy-efficient lighting solutions and the increasing demand for LED luminaires in various applications. Additionally, the European market for LED refrigerated display cabinet lights is dominated by companies such as Beverage-Air, Dover Corporation, and Jamison Door Company. These players enable businesses to gain the advantages of LED technology without requiring significant infrastructure modifications, which is fueling the growth of this region.
Key players in the market
Some of the key players in the LED Refrigerated Display Cabinet Lights Market include Cooper Industries, NVC Lighting Technology Corporation, Koninklijke Philips N.V., Liteline Corporation, Promolux, Laidishine, Juno Lighting Group, GE Lighting, Panasonic Corporation, Arquiled, Everbrite, LLC, Osram Licht AG, Hubbell Incorporated and Zumtobel Group AG.
Key Developments:
In November 2023, Cooper Companies announced it has closed the acquisition of select Cook Medical assets focused primarily on the obstetrics, doppler monitoring, and gynecology surgery markets.
In November 2023, Panasonic Energy Co., Ltd., a Panasonic Group Company, announced that the company completed a project to relocate its dry battery factory and that the Nishikinohama Factory launched full-scale production of AA, AAA, C, and D alkaline batteries.
In October 2023, Hubbell Incorporated announced that it has entered into a definitive agreement to acquire Northern Star Holdings, Inc. (commercially known as Systems Control), a portfolio company of Comvest Partners, for $1.1 billion in cash, subject to customary adjustments.
In June 2023, Hubbell Incorporated announced that Allan Connolly, President of Hubbell Utility Solutions (“HUS”), will retire effective July 1, 2023. Greg Gumbs will serve as President of HUS upon Mr. Connolly’s retirement.
Types Covered:
• Warm Color LED Refrigerated Display Cabinet Lights
• Cool Color LED Refrigerated Display Cabinet Lights
• Other Types
Applications Covered:
• Closed Refrigerated Display Cabinet
• Open Refrigerated Display Cabinet
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global LED Refrigerated Display Cabinet Lights Market, By Type
5.1 Introduction
5.2 Warm Color LED Refrigerated Display Cabinet Lights
5.3 Cool Color LED Refrigerated Display Cabinet Lights
5.4 Other Types
6 Global LED Refrigerated Display Cabinet Lights Market, By Application
6.1 Introduction
6.2 Closed Refrigerated Display Cabinet
6.3 Open Refrigerated Display Cabinet
6.4 Other Applications
7 Global LED Refrigerated Display Cabinet Lights Market, By Geography
7.1 Introduction
7.2 North America
7.2.1 US
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 UK
7.3.3 Italy
7.3.4 France
7.3.5 Spain
7.3.6 Rest of Europe
7.4 Asia Pacific
7.4.1 Japan
7.4.2 China
7.4.3 India
7.4.4 Australia
7.4.5 New Zealand
7.4.6 South Korea
7.4.7 Rest of Asia Pacific
7.5 South America
7.5.1 Argentina
7.5.2 Brazil
7.5.3 Chile
7.5.4 Rest of South America
7.6 Middle East & Africa
7.6.1 Saudi Arabia
7.6.2 UAE
7.6.3 Qatar
7.6.4 South Africa
7.6.5 Rest of Middle East & Africa
8 Key Developments
8.1 Agreements, Partnerships, Collaborations and Joint Ventures
8.2 Acquisitions & Mergers
8.3 New Product Launch
8.4 Expansions
8.5 Other Key Strategies
9 Company Profiling
9.1 Cooper Industries
9.2 NVC Lighting Technology Corporation
9.3 Koninklijke Philips N.V.
9.4 Liteline Corporation
9.5 Promolux
9.6 Laidishine
9.7 Juno Lighting Group
9.8 GE Lighting
9.9 Panasonic Corporation
9.10 Arquiled
9.11 Everbrite, LLC
9.12 Osram Licht AG
9.13 Hubbell Incorporated
9.14 Zumtobel Group AG
List of Tables
1 Global LED Refrigerated Display Cabinet Lights Market Outlook, By Region (2021-2030) ($MN)
2 Global LED Refrigerated Display Cabinet Lights Market Outlook, By Type (2021-2030) ($MN)
3 Global LED Refrigerated Display Cabinet Lights Market Outlook, By Warm Color LED Refrigerated Display Cabinet Lights (2021-2030) ($MN)
4 Global LED Refrigerated Display Cabinet Lights Market Outlook, By Cool Color LED Refrigerated Display Cabinet Lights (2021-2030) ($MN)
5 Global LED Refrigerated Display Cabinet Lights Market Outlook, By Other Types (2021-2030) ($MN)
6 Global LED Refrigerated Display Cabinet Lights Market Outlook, By Application (2021-2030) ($MN)
7 Global LED Refrigerated Display Cabinet Lights Market Outlook, By Closed Refrigerated Display Cabinet (2021-2030) ($MN)
8 Global LED Refrigerated Display Cabinet Lights Market Outlook, By Open Refrigerated Display Cabinet (2021-2030) ($MN)
9 Global LED Refrigerated Display Cabinet Lights Market Outlook, By Other Applications (2021-2030) ($MN)
10 North America LED Refrigerated Display Cabinet Lights Market Outlook, By Country (2021-2030) ($MN)
11 North America LED Refrigerated Display Cabinet Lights Market Outlook, By Type (2021-2030) ($MN)
12 North America LED Refrigerated Display Cabinet Lights Market Outlook, By Warm Color LED Refrigerated Display Cabinet Lights (2021-2030) ($MN)
13 North America LED Refrigerated Display Cabinet Lights Market Outlook, By Cool Color LED Refrigerated Display Cabinet Lights (2021-2030) ($MN)
14 North America LED Refrigerated Display Cabinet Lights Market Outlook, By Other Types (2021-2030) ($MN)
15 North America LED Refrigerated Display Cabinet Lights Market Outlook, By Application (2021-2030) ($MN)
16 North America LED Refrigerated Display Cabinet Lights Market Outlook, By Closed Refrigerated Display Cabinet (2021-2030) ($MN)
17 North America LED Refrigerated Display Cabinet Lights Market Outlook, By Open Refrigerated Display Cabinet (2021-2030) ($MN)
18 North America LED Refrigerated Display Cabinet Lights Market Outlook, By Other Applications (2021-2030) ($MN)
19 Europe LED Refrigerated Display Cabinet Lights Market Outlook, By Country (2021-2030) ($MN)
20 Europe LED Refrigerated Display Cabinet Lights Market Outlook, By Type (2021-2030) ($MN)
21 Europe LED Refrigerated Display Cabinet Lights Market Outlook, By Warm Color LED Refrigerated Display Cabinet Lights (2021-2030) ($MN)
22 Europe LED Refrigerated Display Cabinet Lights Market Outlook, By Cool Color LED Refrigerated Display Cabinet Lights (2021-2030) ($MN)
23 Europe LED Refrigerated Display Cabinet Lights Market Outlook, By Other Types (2021-2030) ($MN)
24 Europe LED Refrigerated Display Cabinet Lights Market Outlook, By Application (2021-2030) ($MN)
25 Europe LED Refrigerated Display Cabinet Lights Market Outlook, By Closed Refrigerated Display Cabinet (2021-2030) ($MN)
26 Europe LED Refrigerated Display Cabinet Lights Market Outlook, By Open Refrigerated Display Cabinet (2021-2030) ($MN)
27 Europe LED Refrigerated Display Cabinet Lights Market Outlook, By Other Applications (2021-2030) ($MN)
28 Asia Pacific LED Refrigerated Display Cabinet Lights Market Outlook, By Country (2021-2030) ($MN)
29 Asia Pacific LED Refrigerated Display Cabinet Lights Market Outlook, By Type (2021-2030) ($MN)
30 Asia Pacific LED Refrigerated Display Cabinet Lights Market Outlook, By Warm Color LED Refrigerated Display Cabinet Lights (2021-2030) ($MN)
31 Asia Pacific LED Refrigerated Display Cabinet Lights Market Outlook, By Cool Color LED Refrigerated Display Cabinet Lights (2021-2030) ($MN)
32 Asia Pacific LED Refrigerated Display Cabinet Lights Market Outlook, By Other Types (2021-2030) ($MN)
33 Asia Pacific LED Refrigerated Display Cabinet Lights Market Outlook, By Application (2021-2030) ($MN)
34 Asia Pacific LED Refrigerated Display Cabinet Lights Market Outlook, By Closed Refrigerated Display Cabinet (2021-2030) ($MN)
35 Asia Pacific LED Refrigerated Display Cabinet Lights Market Outlook, By Open Refrigerated Display Cabinet (2021-2030) ($MN)
36 Asia Pacific LED Refrigerated Display Cabinet Lights Market Outlook, By Other Applications (2021-2030) ($MN)
37 South America LED Refrigerated Display Cabinet Lights Market Outlook, By Country (2021-2030) ($MN)
38 South America LED Refrigerated Display Cabinet Lights Market Outlook, By Type (2021-2030) ($MN)
39 South America LED Refrigerated Display Cabinet Lights Market Outlook, By Warm Color LED Refrigerated Display Cabinet Lights (2021-2030) ($MN)
40 South America LED Refrigerated Display Cabinet Lights Market Outlook, By Cool Color LED Refrigerated Display Cabinet Lights (2021-2030) ($MN)
41 South America LED Refrigerated Display Cabinet Lights Market Outlook, By Other Types (2021-2030) ($MN)
42 South America LED Refrigerated Display Cabinet Lights Market Outlook, By Application (2021-2030) ($MN)
43 South America LED Refrigerated Display Cabinet Lights Market Outlook, By Closed Refrigerated Display Cabinet (2021-2030) ($MN)
44 South America LED Refrigerated Display Cabinet Lights Market Outlook, By Open Refrigerated Display Cabinet (2021-2030) ($MN)
45 South America LED Refrigerated Display Cabinet Lights Market Outlook, By Other Applications (2021-2030) ($MN)
46 Middle East & Africa LED Refrigerated Display Cabinet Lights Market Outlook, By Country (2021-2030) ($MN)
47 Middle East & Africa LED Refrigerated Display Cabinet Lights Market Outlook, By Type (2021-2030) ($MN)
48 Middle East & Africa LED Refrigerated Display Cabinet Lights Market Outlook, By Warm Color LED Refrigerated Display Cabinet Lights (2021-2030) ($MN)
49 Middle East & Africa LED Refrigerated Display Cabinet Lights Market Outlook, By Cool Color LED Refrigerated Display Cabinet Lights (2021-2030) ($MN)
50 Middle East & Africa LED Refrigerated Display Cabinet Lights Market Outlook, By Other Types (2021-2030) ($MN)
51 Middle East & Africa LED Refrigerated Display Cabinet Lights Market Outlook, By Application (2021-2030) ($MN)
52 Middle East & Africa LED Refrigerated Display Cabinet Lights Market Outlook, By Closed Refrigerated Display Cabinet (2021-2030) ($MN)
53 Middle East & Africa LED Refrigerated Display Cabinet Lights Market Outlook, By Open Refrigerated Display Cabinet (2021-2030) ($MN)
54 Middle East & Africa LED Refrigerated Display Cabinet Lights Market Outlook, By Other Applications (2021-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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