Market Forecast By Types (Refrigerator & Freezer, Transportation Refrigeration, Refrigerated Display Case, Beverage Refrigeration, Ice Cream Merchandiser, Refrigerated Vending Machine), By End-Users (Hotels & Restaurants, Supermarkets & Hypermarkets, Convenience Stores, Bakery), By Countries (India, Japan, China, Malaysia, Philippines, Myanmar, South Korea, Australia, Cambodia, Indonesia) and competitive landscape
Product Code: ETC002586 | Publication Date: May 2020 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 200 | No. of Figures: 90 | No. of Tables: 30 |
Report Name | Asia Pacific (APAC) Commercial Refrigeration Equipment MarketΒ |
Forecast period | 2024-2030 |
CAGR | 9.8% |
Growing Sector | Food & Beverage |
The Asia Pacific (APAC) Commercial Refrigeration Equipment Market Report thoroughly covers the market by Types, End-Users and Countries. The Asia Pacific (APAC) Commercial Refrigeration Equipment Market Outlook report provides an unbiased and detailed analysis of the ongoing Asia Pacific (APAC) Commercial Refrigeration Equipment Market trends, opportunities/high growth areas, and market drivers. This would help stakeholders devise and align their market strategies according to the current and future market dynamics.
Asia Pacific (APAC) Commercial Refrigeration Equipment Market is expanding at an astonishing rate owing to the rise in urbanization. In addition, rising demand from consumers for fresh and frozen food items propel the market growth. Major players operating in the region are concentrating on product innovation and strategic partnerships to maintain a competitive edge. Moreover, increase in e-commerce and online food delivery services are aiding market growth. Overall, the Asia Pacific (APAC) Commercial Refrigeration Equipment Market offers significant growth and development opportunities.
According to 6Wresearch, the Asia Pacific (APAC) Commercial Refrigeration Equipment Market is anticipated to grow at a CAGR of 9.8% during 2024-2030. One of the key drivers of the Asia Pacific (APAC) Commercial Refrigeration Equipment Market is the rapid urbanization in major countries such as China and India which has led to growth of retail & food service sectors, consequently driving commercial refrigeration deployment. In addition, the increasing consumer demand for fresh and frozen food products is motivating retailers to deploy efficient refrigeration systems that can enhance product quality while meeting regulatory standards of safety. Furthermore, strict government rules and norms with regard to carbon reduction has encouraged the manufacturers to roll out new refrigeration technology that are environment friendly and expand the market growth. Moreover, the substantial rise in e-commerce and online food delivery services is positively influencing the demand for effective cold-storage-solutions which catalyzes market growth.
However, the Asia Pacific (APAC) Commercial Refrigeration Equipment Market faces many challenges that hinder its growth. The main issue is the varying energy prices which directly affect operational expenditure and force businesses to opt for an alternative that saves them a lot more. In addition, stringent regulatory guidelines to curb greenhouse emissions from refrigeration systems are fostering OEMs for deployment of environment friendly solutions. Furthermore, high-speed technological developments require constant innovation which can stretch company resources in an effort to keep up with their competitors. Moreover, the varied economic surroundings throughout APAC region compound this complexity further by requiring businesses to adapt their strategies based on different consumer behaviours and purchasing access levels.
Some of the major players operating in Asia Pacific (APAC) Commercial Refrigeration Equipment Market are Carrier Corporation, Hitachi Ltd., LG Electronics Inc., Mitsubishi Electric Corporation, Panasonic Corporation, Samsung Electronics Co. Ltd., and Whirlpool Corporation. These companies have a major presence in the Asia Pacific (APAC) region market and are consistently investing on R&D activities to come up with technologically advanced, energy efficient commercial refrigeration equipment that cater to growing consumer expectations.
The governments of the Asia Pacific (APAC) region have significantly influenced the growth of the Commercial Refrigeration Equipment Market through strategic initiatives. One such initiative is India's ambitious "National Programme on Energy Efficiency in Refrigeration" which aims to foster the adoption of eco-friendly cooling technologies, thereby curbing carbon pollutants. In addition, China's extensive "Green Cooling Action Plan" promotes using natural refrigerants and energy-efficient systems, harmonizing with its broader environmental goals. Furthermore, Japan's stringent "Top Runner Program" establishes strict energy efficiency benchmarks for refrigeration appliances, incentivizing manufacturers to pioneer innovative solutions and boost functionality. Moreover, Australia's Climate Solutions Fund underwrites projects that enhance refrigeration efficiency, contributing to the nation's commitment to environmental sustainability.
The Asia Pacific (APAC) Commercial Refrigeration Equipment Market is projected to expand substantially in the coming years. This growth is driven by the increase in urbanization. In addition, increasing consumer preference towards fresh and frozen food products further boosts the growth of the market. Prominent players in the landscape are focusing on product innovation and alliances to retain their market footprints. Moreover, the rise of e-commerce and online food delivery services is driving market growth. Overall, the future of the Asia Pacific (APAC) Commercial Refrigeration Equipment Market looks promising, with many opportunities for growth and development.
According to Ravi Bhandari, Research Head, 6Wresearch, the refrigerator and freezer segment is the dominant segment in the industry and will continue to grow in the coming years. This growth is due to the increasing need for storage and preservation of perishable food products especially in food service industry.
Based on End-Users, the hotels & restaurants segment is the leading segment in the industry and will continue to grow in the coming years. This expansion is due to the rising number of hotels and restaurants due to burgeoning tourism industry and growing trend among people eating-out.
Based on Countries, the China segment is the leading segment in the industry and will continue to grow in the coming years. This expansion is due to the high population, higher disposable income and increased demand for modern retail formats.
The report offers a comprehensive study of the subsequent market segments:
1. Executive Summary |
2. Introduction |
2.1. Report Description |
2.2. Key Highlights of The Report |
2.3. Market Scope & Segmentation |
2.4. Research Methodology |
2.5. Assumptions |
3. Asia Pacific Commercial Refrigeration Equipment Market Overview |
3.1. Asia Pacific Commercial Refrigeration Equipment Market Revenues, 2020-2030F |
3.2. Asia Pacific Commercial Refrigeration Equipment Market Revenue Share, By Countries, 2020 & 2030F |
3.3. Asia Pacific Commercial Refrigeration Equipment Market - Industry Life Cycle |
3.4. Asia Pacific Commercial Refrigeration Equipment Market - Porterβs Five Forces |
4. Asia Pacific Commercial Refrigeration Equipment Market Dynamics |
4.1. Impact Analysis |
4.2. Market Drivers |
4.3. Market Restraints |
5. Asia Pacific Commercial Refrigeration Equipment Market Trends |
6. India Commercial Refrigeration Equipment Market Overview |
6.1 India Commercial Refrigeration Equipment Market Revenues, 2020-2030F |
6.2 India Commercial Refrigeration Equipment Market Revenues, By Types, 2020-2030F |
6.2.1 India Refrigerator & Freezer Market Revenues, 2020-2030F |
6.2.2 India Transportation Refrigeration Market Revenues, 2020-2030F |
6.2.3 India Refrigerated Display Case Market Revenues, 2020-2030F |
6.2.4 India Beverage Refrigeration Market Revenues, 2020-2030F |
6.2.5 India Ice Cream Merchandiser Market Revenues, 2020-2030F |
6.2.6 India Refrigerated Vending Machine Market Revenues, 2020-2030F |
6.3 India Commercial Refrigeration Equipment Market Revenues, By End-Users, 2020-2030F |
6.3.1 India Commercial Refrigeration Equipment Market Revenues, By Hotels & Restaurants, 2020-2030F |
6.3.2 India Commercial Refrigeration Equipment Market Revenues, By Supermarkets & Hypermarkets, 2020-2030F |
6.3.3 India Commercial Refrigeration Equipment Market Revenues, By Convenience Stores, 2020-2030F |
6.3.4 India Commercial Refrigeration Equipment Market Revenues, By Bakery, 2020-2030F |
7. Japan Commercial Refrigeration Equipment Market Overview |
7.1 Japan Commercial Refrigeration Equipment Market Revenues, 2020-2030F |
7.2 Japan Commercial Refrigeration Equipment Market Revenues, By Types, 2020-2030F |
7.2.1 Japan Refrigerator & Freezer Market Revenues, 2020-2030F |
7.2.2 Japan Transportation Refrigeration Market Revenues, 2020-2030F |
7.2.3 Japan Refrigerated Display Case Market Revenues, 2020-2030F |
7.2.4 Japan Beverage Refrigeration Market Revenues, 2020-2030F |
7.2.5 Japan Ice Cream Merchandiser Market Revenues, 2020-2030F |
7.2.6 Japan Refrigerated Vending Machine Market Revenues, 2020-2030F |
7.3 Japan Commercial Refrigeration Equipment Market Revenues, By End-Users, 2020-2030F |
7.3.1 Japan Commercial Refrigeration Equipment Market Revenues, By Hotels & Restaurants, 2020-2030F |
7.3.2 Japan Commercial Refrigeration Equipment Market Revenues, By Supermarkets & Hypermarkets, 2020-2030F |
7.3.3 Japan Commercial Refrigeration Equipment Market Revenues, By Convenience Stores, 2020-2030F |
7.3.4 Japan Commercial Refrigeration Equipment Market Revenues, By Bakery, 2020-2030F |
8. China Commercial Refrigeration Equipment Market Overview |
8.1 China Commercial Refrigeration Equipment Market Revenues, 2020-2030F |
8.2 China Commercial Refrigeration Equipment Market Revenues, By Types, 2020-2030F |
8.2.1 China Refrigerator & Freezer Market Revenues, 2020-2030F |
8.2.2 China Transportation Refrigeration Market Revenues, 2020-2030F |
8.2.3 China Refrigerated Display Case Market Revenues, 2020-2030F |
8.2.4 China Beverage Refrigeration Market Revenues, 2020-2030F |
8.2.5 China Ice Cream Merchandiser Market Revenues, 2020-2030F |
8.2.6 China Refrigerated Vending Machine Market Revenues, 2020-2030F |
8.3 China Commercial Refrigeration Equipment Market Revenues, By End-Users, 2020-2030F |
8.3.1 China Commercial Refrigeration Equipment Market Revenues, By Hotels & Restaurants, 2020-2030F |
8.3.2 China Commercial Refrigeration Equipment Market Revenues, By Supermarkets & Hypermarkets, 2020-2030F |
8.3.3 China Commercial Refrigeration Equipment Market Revenues, By Convenience Stores, 2020-2030F |
8.3.4 China Commercial Refrigeration Equipment Market Revenues, By Bakery, 2020-2030F |
9. Malaysia Commercial Refrigeration Equipment Market Overview |
9.1 Malaysia Commercial Refrigeration Equipment Market Revenues, 2020-2030F |
9.2 Malaysia Commercial Refrigeration Equipment Market Revenues, By Types, 2020-2030F |
9.2.1 Malaysia Refrigerator & Freezer Market Revenues, 2020-2030F |
9.2.2 Malaysia Transportation Refrigeration Market Revenues, 2020-2030F |
9.2.3 Malaysia Refrigerated Display Case Market Revenues, 2020-2030F |
9.2.4 Malaysia Beverage Refrigeration Market Revenues, 2020-2030F |
9.2.5 Malaysia Ice Cream Merchandiser Market Revenues, 2020-2030F |
9.2.6 Malaysia Refrigerated Vending Machine Market Revenues, 2020-2030F |
9.3 Malaysia Commercial Refrigeration Equipment Market Revenues, By End-Users, 2020-2030F |
9.3.1 Malaysia Commercial Refrigeration Equipment Market Revenues, By Hotels & Restaurants, 2020-2030F |
9.3.2 Malaysia Commercial Refrigeration Equipment Market Revenues, By Supermarkets & Hypermarkets, 2020-2030F |
9.3.3 Malaysia Commercial Refrigeration Equipment Market Revenues, By Convenience Stores, 2020-2030F |
9.3.4 Malaysia Commercial Refrigeration Equipment Market Revenues, By Bakery, 2020-2030F |
10. Philippines Commercial Refrigeration Equipment Market Overview |
10.1 Philippines Commercial Refrigeration Equipment Market Revenues, 2020-2030F |
10.2 Philippines Commercial Refrigeration Equipment Market Revenues, By Types, 2020-2030F |
10.2.1 Philippines Refrigerator & Freezer Market Revenues, 2020-2030F |
10.2.2 Philippines Transportation Refrigeration Market Revenues, 2020-2030F |
10.2.3 Philippines Refrigerated Display Case Market Revenues, 2020-2030F |
10.2.4 Philippines Beverage Refrigeration Market Revenues, 2020-2030F |
10.2.5 Philippines Ice Cream Merchandiser Market Revenues, 2020-2030F |
10.2.6 Philippines Refrigerated Vending Machine Market Revenues, 2020-2030F |
10.3 Philippines Commercial Refrigeration Equipment Market Revenues, By End-Users, 2020-2030F |
10.3.1 Philippines Commercial Refrigeration Equipment Market Revenues, By Hotels & Restaurants, 2020-2030F |
10.3.2 Philippines Commercial Refrigeration Equipment Market Revenues, By Supermarkets & Hypermarkets, 2020-2030F |
10.3.3 Philippines Commercial Refrigeration Equipment Market Revenues, By Convenience Stores, 2020-2030F |
10.3.4 Philippines Commercial Refrigeration Equipment Market Revenues, By Bakery, 2020-2030F |
11. Myanmar Commercial Refrigeration Equipment Market Overview |
11.1 Myanmar Commercial Refrigeration Equipment Market Revenues, 2020-2030F |
11.2 Myanmar Commercial Refrigeration Equipment Market Revenues, By Types, 2020-2030F |
11.2.1 Myanmar Refrigerator & Freezer Market Revenues, 2020-2030F |
11.2.2 Myanmar Transportation Refrigeration Market Revenues, 2020-2030F |
11.2.3 Myanmar Refrigerated Display Case Market Revenues, 2020-2030F |
11.2.4 Myanmar Beverage Refrigeration Market Revenues, 2020-2030F |
11.2.5 Myanmar Ice Cream Merchandiser Market Revenues, 2020-2030F |
11.2.6 Myanmar Refrigerated Vending Machine Market Revenues, 2020-2030F |
11.3 Myanmar Commercial Refrigeration Equipment Market Revenues, By End-Users, 2020-2030F |
11.3.1 Myanmar Commercial Refrigeration Equipment Market Revenues, By Hotels & Restaurants, 2020-2030F |
11.3.2 Myanmar Commercial Refrigeration Equipment Market Revenues, By Supermarkets & Hypermarkets, 2020-2030F |
11.3.3 Myanmar Commercial Refrigeration Equipment Market Revenues, By Convenience Stores, 2020-2030F |
11.3.4 Myanmar Commercial Refrigeration Equipment Market Revenues, By Bakery, 2020-2030F |
12. South Korea Commercial Refrigeration Equipment Market Overview |
12.1 South Korea Commercial Refrigeration Equipment Market Revenues, 2020-2030F |
12.2 South Korea Commercial Refrigeration Equipment Market Revenues, By Types, 2020-2030F |
12.2.1 South Korea Refrigerator & Freezer Market Revenues, 2020-2030F |
12.2.2 South Korea Transportation Refrigeration Market Revenues, 2020-2030F |
12.2.3 South Korea Refrigerated Display Case Market Revenues, 2020-2030F |
12.2.4 South Korea Beverage Refrigeration Market Revenues, 2020-2030F |
12.2.5 South Korea Ice Cream Merchandiser Market Revenues, 2020-2030F |
12.2.6 South Korea Refrigerated Vending Machine Market Revenues, 2020-2030F |
12.3 South Korea Commercial Refrigeration Equipment Market Revenues, By End-Users, 2020-2030F |
12.3.1 South Korea Commercial Refrigeration Equipment Market Revenues, By Hotels & Restaurants, 2020-2030F |
12.3.2 South Korea Commercial Refrigeration Equipment Market Revenues, By Supermarkets & Hypermarkets, 2020-2030F |
12.3.3 South Korea Commercial Refrigeration Equipment Market Revenues, By Convenience Stores, 2020-2030F |
12.3.4 South Korea Commercial Refrigeration Equipment Market Revenues, By Bakery, 2020-2030F |
13. Australia Commercial Refrigeration Equipment Market Overview |
13.1 Australia Commercial Refrigeration Equipment Market Revenues, 2020-2030F |
13.2 Australia Commercial Refrigeration Equipment Market Revenues, By Types, 2020-2030F |
13.2.1 Australia Refrigerator & Freezer Market Revenues, 2020-2030F |
13.2.2 Australia Transportation Refrigeration Market Revenues, 2020-2030F |
13.2.3 Australia Refrigerated Display Case Market Revenues, 2020-2030F |
13.2.4 Australia Beverage Refrigeration Market Revenues, 2020-2030F |
13.2.5 Australia Ice Cream Merchandiser Market Revenues, 2020-2030F |
13.2.6 Australia Refrigerated Vending Machine Market Revenues, 2020-2030F |
13.3 Australia Commercial Refrigeration Equipment Market Revenues, By End-Users, 2020-2030F |
13.3.1 Australia Commercial Refrigeration Equipment Market Revenues, By Hotels & Restaurants, 2020-2030F |
13.3.2 Australia Commercial Refrigeration Equipment Market Revenues, By Supermarkets & Hypermarkets, 2020-2030F |
13.3.3 Australia Commercial Refrigeration Equipment Market Revenues, By Convenience Stores, 2020-2030F |
13.3.4 Australia Commercial Refrigeration Equipment Market Revenues, By Bakery, 2020-2030F |
14. Cambodia Commercial Refrigeration Equipment Market Overview |
14.1 Cambodia Commercial Refrigeration Equipment Market Revenues, 2020-2030F |
14.2 Cambodia Commercial Refrigeration Equipment Market Revenues, By Types, 2020-2030F |
14.2.1 Cambodia Refrigerator & Freezer Market Revenues, 2020-2030F |
14.2.2 Cambodia Transportation Refrigeration Market Revenues, 2020-2030F |
14.2.3 Cambodia Refrigerated Display Case Market Revenues, 2020-2030F |
14.2.4 Cambodia Beverage Refrigeration Market Revenues, 2020-2030F |
14.2.5 Cambodia Ice Cream Merchandiser Market Revenues, 2020-2030F |
14.2.6 Cambodia Refrigerated Vending Machine Market Revenues, 2020-2030F |
14.3 Cambodia Commercial Refrigeration Equipment Market Revenues, By End-Users, 2020-2030F |
14.3.1 Cambodia Commercial Refrigeration Equipment Market Revenues, By Hotels & Restaurants, 2020-2030F |
14.3.2 Cambodia Commercial Refrigeration Equipment Market Revenues, By Supermarkets & Hypermarkets, 2020-2030F |
14.3.3 Cambodia Commercial Refrigeration Equipment Market Revenues, By Convenience Stores, 2020-2030F |
14.3.4 Cambodia Commercial Refrigeration Equipment Market Revenues, By Bakery, 2020-2030F |
15. Indonesia Commercial Refrigeration Equipment Market Overview |
15.1 Indonesia Commercial Refrigeration Equipment Market Revenues, 2020-2030F |
15.2 Indonesia Commercial Refrigeration Equipment Market Revenues, By Types, 2020-2030F |
15.2.1 Indonesia Refrigerator & Freezer Market Revenues, 2020-2030F |
15.2.2 Indonesia Transportation Refrigeration Market Revenues, 2020-2030F |
15.2.3 Indonesia Refrigerated Display Case Market Revenues, 2020-2030F |
15.2.4 Indonesia Beverage Refrigeration Market Revenues, 2020-2030F |
15.2.5 Indonesia Ice Cream Merchandiser Market Revenues, 2020-2030F |
15.2.6 Indonesia Refrigerated Vending Machine Market Revenues, 2020-2030F |
15.3 Indonesia Commercial Refrigeration Equipment Market Revenues, By End-Users, 2020-2030F |
15.3.1 Indonesia Commercial Refrigeration Equipment Market Revenues, By Hotels & Restaurants, 2020-2030F |
15.3.2 Indonesia Commercial Refrigeration Equipment Market Revenues, By Supermarkets & Hypermarkets, 2020-2030F |
15.3.3 Indonesia Commercial Refrigeration Equipment Market Revenues, By Convenience Stores, 2020-2030F |
15.3.4 Indonesia Commercial Refrigeration Equipment Market Revenues, By Bakery, 2020-2030F |
16. Asia Pacific Commercial Refrigeration Equipment Market - Key Performance Indicators |
17. Asia Pacific Commercial Refrigeration Equipment Market - Opportunity Assessment |
17.1. Asia Pacific Commercial Refrigeration Equipment Market Opportunity Assessment, By Countries, 2030F |
18. Asia Pacific Commercial Refrigeration Equipment Market Competitive Landscape |
18.1. Asia Pacific Commercial Refrigeration Equipment Market Revenue Share, By Companies, 2023 |
18.1.1 India Commercial Refrigeration Equipment Market Revenue Share, By Companies, 2023 |
18.1.2 Japan Commercial Refrigeration Equipment Market Revenue Share, By Companies, 2023 |
18.1.3 China Commercial Refrigeration Equipment Market Revenue Share, By Companies, 2023 |
18.1.4 Malaysia Commercial Refrigeration Equipment Market Revenue Share, By Companies, 2023 |
18.1.5 Philippines Commercial Refrigeration Equipment Market Revenue Share, By Companies, 2023 |
18.1.6 Myanmar Commercial Refrigeration Equipment Market Revenue Share, By Companies, 2023 |
18.1.7 South Korea Commercial Refrigeration Equipment Market Revenue Share, By Companies, 2023 |
18.1.8 Australia Commercial Refrigeration Equipment Market Revenue Share, By Companies, 2023 |
18.1.9 Cambodia Commercial Refrigeration Equipment Market Revenue Share, By Companies, 2023 |
18.1.10 Indonesia Commercial Refrigeration Equipment Market Revenue Share, By Companies, 2023 |
18.2. Asia Pacific Commercial Refrigeration Equipment Market Competitive Benchmarking, By Operating & Technical Parameters |
19. Company Profiles |
20. Key Recommendations |
21. Disclaimer |