The Asia-Pacific commercial refrigerator market is going steady. Factors fueling this include speedy growth in the food and beverage industry, rapid urbanization, and demand for cold storage solutions across the retail, hospitality, and healthcare sectors. Analysts note that growing populations in China and India are driving up demand for effective refrigeration systems to satisfy mushrooming consumer appetite for perishables and frozen foods.
Moreover, the spread of supermarkets, hypermarkets, and fast-food restaurants across the region has increased market growth exponentially. Additionally the significant momentum is attributed to the requirement for energy-efficient as well as environmentally-friendly refrigeration technology, primarily due to the stiffening of governmental environmental regulations in addition to the escalating costs of electricity in the region.
As manufacturers move toward addressing such requirements by using natural refrigerant along with intelligent systems, the capability to employ greater levels of energy efficiency as a sales factor renders it a critical driver in expansion.
Meanwhile, growth of e-Commerce and online grocery platforms opens new opportunities for commercial refrigeration, mainly cold chain logistics. The Asia-Pacific region is expected to be of the most significant growth markets for the years ahead, with important investment in it over the upcoming years.
The manufacturers in the market also collaborate and merge with different companies to expand their product portfolio and reach as well as to keep their businesses growing across regions.
The commercial refrigerator market in Asia Pacific is a fast-emerging sector. Increase in foodservice industry operations, rising rates of urbanization, and a general increased demand for cold storage in retail, hospitality, and healthcare sectors tend to boost the growth of the commercial refrigerator market in Asia-Pacific. Diverse refrigeration solutions include display refrigerators, walk-in coolers, and freezers.
All these kinds of equipment serve in the preservation of perishable goods, which has led to the growth of the commercial refrigerator market in Asia Pacific. Large population in countries such as China, India, and Southeast Asia create a pressing need for dependable, energy-efficient refrigeration systems, especially as requirements grow for frozen and ready-to-eat food items.
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The countries include China, India, and Southeast Asia, which are witnessing rapid urbanization within Asia Pacific. A lot of migration from the rural area to the cities there has triggered more economic and infrastructure development. This growth in the cities has also given rise to supermarkets, hypermarkets, convenience stores, and foodservice establishments, which require efficient and reliable commercial refrigeration systems.
With the increasing demand for fresh, frozen, and ready-to-eat foods by the consumers in the urban locations, advanced refrigeration facilities are in greater demand. The growing trend of QSRs, cafes, and modern outlets in the urban cities is forcing this need for refrigerators that can preserve the freshness of perishable items.
For example, in China and India, the rapid growth of retail chains like Walmart, Carrefour, and local supermarket chains has created a huge market for commercial refrigerators. Dairy products, meats, and frozen foods are being displayed and stored to minimize their degradation to ensure food safety and longer shelf life.
The expansion of the foodservice industry is also driven by changes in consumers’ preference. With more citizens leading hectic lifestyles, eating out or taking away becomes part of everyday life, thus increasing demand for commercial refrigeration appliances in restaurants and catering houses.
Governments and businesses are raising their awareness quotient regarding the fact that the old, traditional refrigeration systems contaminate the environment, mainly through the usage of hydrofluorocarbons (HFCs) and many other harmful refrigerants, which affect greenhouse gases and global warming, in general.
For instance, policies supporting the use of natural refrigerants such as carbon dioxide (CO2), hydrocarbons, and ammonia, which have much lower impacts on the environment, are being introduced in China and India.
With growing numbers of consumers buying groceries online in large, fast-growing economies including China, India, and Southeast Asia, the need for cold storage and refrigeration solutions to ensure efficient last-mile delivery and quality of perishable goods is increasing.
This trend is compelling investment in cold chain logistics infrastructure, such as refrigerated warehouses, refrigerated delivery trucks, and high-performance commercial refrigerators, able to support the storage and distribution of temperature-sensitive products.
| Attribute | Detail |
|---|---|
| Leading Country | China |
China holds the largest share in the Asia-Pacific commercial refrigerator market, driven by enormous manufacturing capacity, affordable production, and rapidly growing food service and retail industries. China is now a global manufacturing hub that easily enjoys economies of scale for commercial refrigerators produced at low prices.
The innovation and technological advancements in China enhance its capacity to produce the energy-efficient refrigeration systems that meet strict environmental standards across the continent. All these factors thus illustrate why China leads the pack in the Asia-Pacific commercial refrigerator market.
Majority of companies highlighted in the Asia Pacific commercial refrigerator market report are spending significantly on expanding their presence, primarily in prominent areas of the region. Product launch is the key strategy adopted by players operating in the market, which, in turn, will fuel the Asia Pacific Commercial Refrigerator industry size during the forecast period.
Daikin Industries, Ltd., Panasonic Corporation, LG Electronics, Hitachi, Ltd., Haier Group Corporation, Midea Group, Fujimak Corporation, Hoshizaki Corporation, Sanden Holdings Corporation, Aucma Co., Ltd., and other players are the players covered in the Asia Pacific commercial refrigerator market report.
Key players have been profiled in the Asia Pacific commercial refrigerator market research report based on parameters such as company overview, financial overview, business strategies, product portfolio, business segments, and recent developments.
| Attribute | Detail |
|---|---|
| Market Size Value in 2023 (Base Year) | US$ 2.0 Bn |
| Market Forecast Value in 2034 | US$ 3.1 Bn |
| Growth Rate (CAGR) | 4.2% |
| Forecast Period | 2024-2034 |
| Historical data Available for | 2020-2022 |
| Quantitative Units | US$ Bn for Value and Thousand Units for Volume |
| Market Analysis | Asia Pacific qualitative analysis includes drivers, restraints, opportunities, key trends, key market indicators, Porter’s Five Forces analysis, value chain analysis, SWOT analysis, etc. Furthermore, at the regional level, qualitative analysis includes key trends, price trends, and key supplier analysis. |
| Competition Landscape |
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| Country Covered |
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| Market Segmentation |
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| Companies Profile |
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| Customization Scope | Available upon Request |
| Pricing | Available upon Request |
The Asia Pacific commercial refrigerator market stood at US$ 2.0 Bn in 2023.
The Asia Pacific commercial refrigerator market is expected to reach US$ 3.1 Bn by 2034.
Rapid urbanization, expansion of the foodservice industry, and growing focus on energy efficiency and eco-friendly solutions are the major factors driving the market.
The reach in freezer type segment contributed to the highest share of the Asia Pacific commercial refrigerator industry in 2023
Asia Pacific market is expected to grow at a CAGR of 4.2% during the projection period.
Daikin Industries, Ltd., Panasonic Corporation, LG Electronics, Hitachi, Ltd., Haier Group Corporation, Midea Group, Fujimak Corporation, Hoshizaki Corporation, Sanden Holdings Corporation, and Aucma Co., Ltd.
1. Preface: Asia Pacific Commercial Refrigerator Market
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions
3. Research Methodology
4. Executive Summary
5. Market Overview
5.1. Market Dynamics
5.1.1. Drivers
5.1.2. Restraints
5.1.3. Opportunities
5.2. Key Trends Analysis
5.2.1. Demand Side Analysis
5.2.2. Supply Side Analysis
5.3. Key Market Indicators
5.4. Porter’s Five Forces Analysis
5.5. Value Chain Analysis
5.6. PESTEL Analysis
5.7. Technology Overview
5.8. Standards & Regulations
5.9. Value Chain Analysis
5.9.1. List of Manufacturers
5.9.2. List of Raw Material Suppliers
5.9.3. List of Distributors
5.9.4. List of Potential Customers
6. Asia Pacific Commercial Refrigerator Market Analysis and Forecasts
6.1. Market Size and Forecast (Thousand Units) (US$ Bn) by Type, 2020-2034
6.1.1. Reach In Freezer
6.1.2. Meat Aged Refrigerator
6.1.3. Under counter Freezer
6.1.4. Bakery Showcase
6.1.5. Antiseptic Reservoir
6.1.6. Deep Freezer
6.1.7. Ultra Low Temperature Freezer
6.2. Market Size and Forecast (Thousand Units) (US$ Bn) by Distribution Channel, 2020-2034
6.2.1. Direct Sales
6.2.2. Distributors/Wholesalers
6.2.3. Online Platforms
6.2.4. Retail Outlets
6.3. Market Size and Forecast (Thousand Units) (US$ Bn) by Country, 2020-2034
6.3.1. India
6.3.2. Rest of Asia Pacific
6.4. Incremental Opportunity Analysis
7. India Commercial Refrigerator Market Analysis and Forecasts
7.1. Market Size and Forecast (Thousand Units) (US$ Bn) by Type, 2020-2034
7.1.1. Reach In Freezer
7.1.2. Meat Aged Refrigerator
7.1.3. Under counter Freezer
7.1.4. Bakery Showcase
7.1.5. Antiseptic Reservoir
7.1.6. Deep Freezer
7.1.7. Ultra Low Temperature Freezer
7.2. Market Size and Forecast (Thousand Units) (US$ Bn) by Distribution Channel, 2020-2034
7.2.1. Direct Sales
7.2.2. Distributors/Wholesalers
7.2.3. Online Platforms
7.2.4. Retail Outlets
7.3. Incremental opportunity Analysis
8. Competition Landscape
8.1. Market Players - Competition Matrix (by Tier and Size of Companies)
8.2. Market Share Analysis, 2023
8.3. Company Profiles
8.3.1. Daikin Industries, Ltd.
8.3.1.1. Company Revenue
8.3.1.2. Business Overview
8.3.1.3. Product Segments
8.3.1.4. Geographic Footprint
8.3.1.5. Strategic Partnership, Capacity Expansion, New Product Innovation etc.
8.3.2. Panasonic Corporation
8.3.2.1. Company Revenue
8.3.2.2. Business Overview
8.3.2.3. Product Segments
8.3.2.4. Geographic Footprint
8.3.2.5. Strategic Partnership, Capacity Expansion, New Product Innovation etc.
8.3.3. LG Electronics
8.3.3.1. Company Revenue
8.3.3.2. Business Overview
8.3.3.3. Product Segments
8.3.3.4. Geographic Footprint
8.3.3.5. Strategic Partnership, Capacity Expansion, New Product Innovation etc.
8.3.4. Hitachi, Ltd.
8.3.4.1. Company Revenue
8.3.4.2. Business Overview
8.3.4.3. Product Segments
8.3.4.4. Geographic Footprint
8.3.4.5. Strategic Partnership, Capacity Expansion, New Product Innovation etc.
8.3.5. Haier Group Corporation
8.3.5.1. Company Revenue
8.3.5.2. Business Overview
8.3.5.3. Product Segments
8.3.5.4. Geographic Footprint
8.3.5.5. Strategic Partnership, Capacity Expansion, New Product Innovation etc.
8.3.6. Midea Group
8.3.6.1. Company Revenue
8.3.6.2. Business Overview
8.3.6.3. Product Segments
8.3.6.4. Geographic Footprint
8.3.6.5. Strategic Partnership, Capacity Expansion, New Product Innovation etc.
8.3.7. Fujimak Corporation
8.3.7.1. Company Revenue
8.3.7.2. Business Overview
8.3.7.3. Product Segments
8.3.7.4. Geographic Footprint
8.3.7.5. Strategic Partnership, Capacity Expansion, New Product Innovation etc.
8.3.8. Hoshizaki Corporation
8.3.8.1. Company Revenue
8.3.8.2. Business Overview
8.3.8.3. Product Segments
8.3.8.4. Geographic Footprint
8.3.8.5. Strategic Partnership, Capacity Expansion, New Product Innovation etc.
8.3.9. Sanden Holdings Corporation
8.3.9.1. Company Revenue
8.3.9.2. Business Overview
8.3.9.3. Product Segments
8.3.9.4. Geographic Footprint
8.3.9.5. Strategic Partnership, Capacity Expansion, New Product Innovation etc.
8.3.10. Aucma Co., Ltd.
8.3.10.1. Company Revenue
8.3.10.2. Business Overview
8.3.10.3. Product Segments
8.3.10.4. Geographic Footprint
8.3.10.5. Strategic Partnership, Capacity Expansion, New Product Innovation etc.
8.3.11. Others
8.3.11.1. Company Revenue
8.3.11.2. Business Overview
8.3.11.3. Product Segments
8.3.11.4. Geographic Footprint
8.3.11.5. Strategic Partnership, Capacity Expansion, New Product Innovation etc.
9. Go To Market Strategy
List of Tables
Table 01: Asia Pacific Commercial Refrigerator Market Value (US$ Bn) Projection by Type 2020-2034
Table 02: Asia Pacific Commercial Refrigerator Market Volume (Thousand Units) Projection by Type 2020-2034
Table 03: Asia Pacific Commercial Refrigerator Market Value (US$ Bn) Projection by Distribution Channel 2020-2034
Table 04: Asia Pacific Commercial Refrigerator Market Volume (Thousand Units) Projection by Distribution Channel 2020-2034
Table 05: Asia Pacific Commercial Refrigerator Market Value (US$ Bn) Projection by Country 2020-2034
Table 06: Asia Pacific Commercial Refrigerator Market Volume (Thousand Units) Projection by Country 2020-2034
Table 07: Asia Pacific Commercial Refrigerator Market Value (US$ Bn) Projection by Type 2020-2034
Table 08: Asia Pacific Commercial Refrigerator Market Volume (Thousand Units) Projection by Type 2020-2034
Table 09: Asia Pacific Commercial Refrigerator Market Value (US$ Bn) Projection by Distribution Channel 2020-2034
Table 10: Asia Pacific Commercial Refrigerator Market Volume (Thousand Units) Projection by Distribution Channel 2020-2034
List of Figures
Figure 01: Asia Pacific Commercial Refrigerator Market Value (US$ Bn) Projection, By Type 2020-2034
Figure 02: Asia Pacific Commercial Refrigerator Market Volume (Thousand Units) Projection, By Type 2020-2034
Figure 03: Asia Pacific Commercial Refrigerator Market, Incremental Opportunities (US$ Bn), Forecast, By Type 2024-2034
Figure 04: Asia Pacific Commercial Refrigerator Market Value (US$ Bn) Projection, By Distribution Channel 2020-2034
Figure 05: Asia Pacific Commercial Refrigerator Market Volume (Thousand Units) Projection, By Distribution Channel 2020-2034
Figure 06: Asia Pacific Commercial Refrigerator Market, Incremental Opportunities (US$ Bn), Forecast, By Distribution Channel 2024-2034
Figure 07: Asia Pacific Commercial Refrigerator Market Value (US$ Bn) Projection, By Country 2020-2034
Figure 08: Asia Pacific Commercial Refrigerator Market Volume (Thousand Units) Projection, By Country 2020-2034
Figure 09: India Commercial Refrigerator Market Value (US$ Bn) Projection, By Country 2020-2034
Figure 10: India Commercial Refrigerator Market Value (US$ Bn) Projection, By Type 2020-2034
Figure 11: India Commercial Refrigerator Market Volume (Thousand Units) Projection, By Type 2020-2034
Figure 12: India Commercial Refrigerator Market, Incremental Opportunities (US$ Bn), Forecast, By Type 2024-2034
Figure 13: India Commercial Refrigerator Market Value (US$ Bn) Projection, By Distribution Channel 2020-2034
Figure 14: India Commercial Refrigerator Market Volume (Thousand Units) Projection, By Distribution Channel 2020-2034
Figure 15: India Commercial Refrigerator Market, Incremental Opportunities (US$ Bn), Forecast, By Distribution Channel 2024-2034
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Asia Pacific Commercial Refrigerator Market
