Asia Pacific (APAC) Commercial Refrigeration Equipment Market (2024-2030) | Forecast, Growth, Trends, Revenue, Share, Companies, Industry, Size, Outlook, Analysis & Value

Asia Pacific (APAC) Commercial Refrigeration Equipment Market Highlights

Report Name	Asia Pacific (APAC) Commercial Refrigeration Equipment Market
Forecast period	2024-2030
CAGR	9.8%
Growing Sector	Food & Beverage

Topics Covered in Asia Pacific (APAC) Commercial Refrigeration Equipment Market Report

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 Synopsis

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.

Asia Pacific (APAC) Commercial Refrigeration Equipment Market: Leading Players

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.

Asia Pacific (APAC) Commercial Refrigeration Equipment Market: Government Initiatives

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.

Future Insights of the Market

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.

Market Segmentation by Types

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.

Market Segmentation by End-Users

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.

Market Segmentation by Countries

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.

Key Attractiveness of the Report

• 10 Years Market Numbers.
• Historical Data Starting from 2020 to 2023
• Base Year: 2023
• Forecast Data until 2030.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report

• Asia Pacific Commercial refrigeration equipment Market Overview
• Asia Pacific Commercial refrigeration equipment Market Outlook
• Asia Pacific Commercial refrigeration equipment Market Forecast
• Asia Pacific Commercial refrigeration equipment Market Size
• Historical Data of Asia Pacific Commercial refrigeration equipment Market Revenues, for the Period 2020-2030
• Asia Pacific Commercial refrigeration equipment Market Forecast of Revenues, Until 2030
• Historical Data of Asia Pacific Commercial refrigeration equipment Market Revenues, By Types, for the Period 2020-2030
• Market Size & Forecast of Asia Pacific Commercial refrigeration equipment Market Revenues, By Types, until 2030
• Historical Data of Asia Pacific Commercial refrigeration equipment Market Revenues, by End-Users, for the Period 2020-2030
• Market Size & Forecast of Asia Pacific Commercial refrigeration equipment Market Revenues, by End-Users, until 2030
• Historical Data of India Commercial refrigeration equipment Market Revenues for the Period 2020-2030.
• Market Size & Forecast of India Commercial refrigeration equipment Market Revenues until 2030.
• Historical Data of Japan Commercial refrigeration equipment Market Revenues for the Period 2020-2030.
• Market Size & Forecast of Japan Commercial refrigeration equipment Market Revenues, until 2030.
• Historical Data of China Commercial refrigeration equipment Market Revenues for the Period 2020-2030.
• Market Size & Forecast of China Commercial refrigeration equipment Market Revenues, until 2030.
• Historical Data of South Korea Commercial refrigeration equipment Market Revenues for the Period 2020-2030.
• Market Size & Forecast of South Korea Commercial refrigeration equipment Market Revenues, until 2030.
• Historical Data of Indonesia Commercial refrigeration equipment Market Revenues for the Period 2020-2030.
• Market Size & Forecast of Indonesia Commercial refrigeration equipment Market Revenues, until 2030.
• Historical Data of Philippines Commercial refrigeration equipment Market Revenues for the Period 2020-2030.
• Market Size & Forecast of Philippines Commercial refrigeration equipment Market Revenues, until 2030.
• Historical Data of Malaysia Commercial refrigeration equipment Market Revenues for the Period 2020-2030.
• Market Size & Forecast of Malaysia Commercial refrigeration equipment Market Revenues, until 2030.
• Historical Data of Myanmar Commercial refrigeration equipment Market Revenues for the Period 2020-2030.
• Market Size & Forecast of Myanmar Commercial refrigeration equipment Market Revenues, until 2030.
• Historical Data of Cambodia Commercial refrigeration equipment Market Revenues for the Period 2020-2030.
• Market Size & Forecast of Cambodia Commercial refrigeration equipment Market Revenues, until 2030.
• Historical Data of Australia Commercial refrigeration equipment Market Revenues for the Period 2020-2030.
• Market Size & Forecast of Australia Commercial refrigeration equipment Market Revenues, until 2030.
• Market Drivers and Restraints
• Asia Pacific Commercial refrigeration equipment Market Trends
• Market Opportunity Assessment
• Asia Pacific Commercial refrigeration equipment Market Share, By Players
• Asia Pacific Commercial refrigeration equipment Market Share, By Countries
• Asia Pacific Commercial refrigeration equipment Market Overview on Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Markets Covered

The report offers a comprehensive study of the subsequent market segments:

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