Transparency Market Research, in one of its recent reports, described a fragmented competitive landscape for the global refrigerated display cases, beverage refrigerators and dispensers, and chilled rooms market. In 2013, only 21.9% of the market value was held by its leaders: Frigo Glass, Hoshizaki International, Manitowoc Company, Inc., and United Technologies Corporation. According to TMR, the intensity of competitiveness in the market is expected to remain high and increase steadily over the coming years. The market is also expected to be defined by a large number of consolidation efforts, including mergers and acquisitions.