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Status : Published Published On : Jan, 2024 Report Code : VRSME9059 Industry : Semiconductor & Electronics Available Format : Page : 161
2025
2030

Asia-Pacific (APAC) Commercial Refrigeration Equipment Market – Analysis and Forecast (2025–2030)

Industry Insights by Equipment Type (Walk-in Coolers, Beverage Refrigeration, Transportation Refrigeration Equipment, Display Cases, Parts, Ice Making Machineries, Others), by Application (Food Service, Food and Beverage Distribution, Food and Beverage Retail, Others), by End-User (Supermarkets, Hypermarkets, Hotels/Restaurants & Catering, Convenience Stores, E-commerce, Others), By Country (China, Japan, India, South Korea, Australia, Rest of APAC)

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Industry Overview

The Commercial Refrigeration Equipment Market In The Asia-Pacific (APAC) region is poised for significant growth in the forecast period, with a projected compound annual growth rate (CAGR) of 9.6%. By 2030, the market size is expected to soar to USD 30.3 billion. This expansion can be attributed to several key factors, including the thriving food and beverages industry, a growing demand for ready-to-eat food, and the continuous trend of urbanization in the region.

APAC Commercial Refrigeration Equipment Market Highlights

Commercial refrigeration equipments are the freezers and refrigerators used in supermarkets, restaurants, restaurants, commercial kitchens and convenience stores. This refrigeration equipment is of two types, firstly those which can be self-contained, wherein the whole system that includes the refrigeration case and the refrigeration system are combined.

Market Segmentation

Insight by Product

On the basis of product, commercial refrigeration equipment market is segmented into walk-in coolers, beverage refrigeration, transportation refrigeration equipment, display cases, parts, ice making machineries, and others. The other equipment types include vending machines, cryogenic equipment and liquid chillier.

Of all, walk-in coolers 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. In addition, increasing number of supermarkets and hypermarkets in the region is also increasing the demand for walk-in coolers. However, the ice making machineries is expected to grow at the fastest rate during the forecast period due to the increasing number of cafes, bars, and stores in the region.

Insight by Application

On the basis of application, the commercial refrigeration equipment market is segmented into food and beverage distribution, food service, food and beverage retail and others. Among all these segments, food service category accounted for the largest share in the market in 2022. The growth of the market for this application is attributed towards increasing utilization of foodservice refrigeration equipment in ensuring the quality of food from the supplier to the consumer.

Insight by End User

On the basis of end-user, the commercial refrigeration equipment market is segmented into hotels/restaurants & catering, convenience stores, supermarkets, hypermarkets, e-commerce, and others. The other category includes hospitals, educational institutions, large pharmaceutical stores, medical and life sciences. Among these segments, the hotels/restaurants and catering category is the largest end-user of refrigeration equipment in commercial application.

APAC Commercial Refrigeration Equipment Market Report Coverage

Report Metric

Details

Historical Period

2018 - 2023

Base Year Considered

2024

Forecast Period

2025 - 2030

Market Size in 2023

U.S.D.  X.XX Billion

Revenue Forecast in 2030

U.S.D.  30.3 Billion

Growth Rate

9.6%

Segments Covered in the Report

By Equipment Type, By Application and By End user

Report Scope

Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling

Regions Covered in the Report

North America, Europe, Asia-Pacific, Middle East, and Rest of the World

Industry Dynamics

Industry Trends

One of the major trends witnessed in the APAC commercial refrigeration market is a shift from fluorinated refrigerants to natural refrigerants owing to the increasing concern towards global warming.

Growth Drivers

The growth of the commercial refrigeration equipment market is driven by two key factors: the expansion of the food and beverage industry and rapid urbanization.

In the 21st century, Asian countries experienced significant industrial growth and a rise in disposable income, leading to a rapid increase in urbanization. As the population in Asia continues to grow, more people are migrating to urban areas in search of better living standards and job opportunities. This demographic shift has resulted in a surge in the number of supermarkets, hypermarkets, hotels, restaurants, and other commercial establishments. Consequently, there is a growing demand for commercial refrigeration equipment to cater to the needs of these businesses.

According to the United States Economic and Social Commission for Asia and the Pacific, the Asia-Pacific region has traditionally been predominantly rural. However, starting from 2018, there has been a notable shift with more people now residing in urban areas than in rural areas. The region currently houses over 2.1 billion urban residents, accounting for approximately 60 percent of the world's urban population. From 1980 to 2010, the number of cities in the region grew by more than 1 billion, and it is projected that another billion will be added by 2040. This continuous urbanization trend further contributes to the increasing demand for commercial refrigeration equipment.

Overall, the growth of the commercial refrigeration equipment market can be attributed to the expansion of the food and beverage industry and the ongoing process of rapid urbanization in Asian countries.

Competitive Insight

Key players in the commercial refrigeration equipment market are focusing more on product and services launch to meet the growing demand for refrigeration equipment, leads to strengthening their position in the market. The top three companies accounted for the majority of the revenue share in 2022 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.

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.

The Asia-Pacific (APAC) Commercial Refrigeration Equipment Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.

Segments Covered in the Report

  • By Equipment Type
    • Walk-in Coolers
      • Packaged Unit
      • Remote Condensing Unit
      • Remote Plant
    • Display Cases
      • Plug in Cases
      • Remote Cases
    • Beverage Refrigeration
      • Beverage Cooling & Dispensing Units
      • Drinking Fountains
      • Beer Dispensing Units
      • Soda Fountain Equipment
      • Others
    • Ice Making Machineries
      • Cubes
      • Flakes
      • Nuggets
    • Transportation Refrigeration Equipment
    • Parts
    • Other Equipment
  • By Application
    • Food Service
    • Food and Beverage Retail
    • Food and Beverage Distribution
    • Others
  • By End User
    • Supermarkets
    • Hotels/Restaurants and Catering Businesses
    • Hypermarkets
    • Convenience Stores
    • E-Commerce
    • Others
  • Asia-Pacific (APAC)
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia-Pacific

PRIMARY RESEARCH INTERVIEWS - BREAKDOWN

APAC Commercial Refrigeration Equipment Market Analysis

Frequently Asked Questions

What are the key factors to growth of this market?

The key factors pertaining towards the growth of the commercial refrigeration equipment market are the growth in food and beverage industry and rapid urbanization.

Which are the major application for this market?

On the basis of application, the commercial refrigeration equipment market is segmented into food and beverage distribution, food service, food and beverage retail and others.

Which are the major end users for this market?

On the basis of end-user, the commercial refrigeration equipment market is segmented into hotels/restaurants & catering, convenience stores, supermarkets, hypermarkets, e-commerce, and others.

Which are the major companies operating the market?

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.

What is the growth rate and forcasted market size of APAC Commercial Refrigeration Equipment Market?

The Asia-Pacific (APAC) commercial refrigeration equipment market is expected to grow at a CAGR of 9.6% during the forecast period with its market size predicted to reach USD 30.3 billion by 2030.
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APAC Commercial Refrigeration Equipment Market

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