APAC Commercial Refrigeration Equipment Market, Industry Insights by Equipment Type, Application, End-User and Country

Posted August 1, 2019 by vynzresearch

The Asia-Pacific (APAC) commercial refrigeration equipment market is expected to grow at a CAGR of 9.5% during the forecast period with its market size predicted to reach USD 28.3 billion by 2024.

The increasing food and beverages industry and rapid urbanization are the major factors leading to the high demand for commercial refrigeration equipment in the APAC market.

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Based on equipment type, the commercial refrigeration equipment market is segmented into walk-in coolers, beverage refrigeration, transportation refrigeration equipment, display cases, parts, ice-making machinery, and others.

The other equipment includes vending machines, cryogenic equipment, and liquid chillier. Of all the equipment type, the walk-in coolers category hold the largest share in the market due to the increasing purchasing power of the consumers, which leads to increase in the consumption of ready-to-eat food, which in turn, drives the growth of this segment.

The top three companies accounted for the majority of the revenue share in 2018 in the APAC commercial refrigeration equipment market. United Technologies Corporation was the largest player in 2018, accounting for highest market revenue share in the market.

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Some of the major players operating in the APAC commercial refrigeration equipment market are United Technologies Corporation, Johnson Controls International PLC, Daikin Industries Ltd., Dover Corporation, AB Electrolux, Illinois Tool Works Inc., Frigoglass S.A.I.C., Hussmann Corporation, Emerson Electric Co., and Fujimak Corporation.

Source: VynZ Research
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Last Updated August 1, 2019