The Asia Pacific Commercial Refrigeration Equipment Market would witness market growth of 7.4% CAGR during the forecast period (2019?2025).
The Asia Pacific region is predicted to be the biggest market of commercial refrigeration equipment over the forecast period. The increase in the population of this region and improvements in economic conditions like rising in GDP & disposable incomes booming in consumer appliances sector is leading to the growth of the commercial refrigeration equipment in a particular region. Additionally, the rise in the commercial refrigeration equipment market is fuelled by growth in the manufacturing sector; growth in spending on private & rapid urbanization; and public infrastructure development.
The India commercial refrigeration equipment market is expected to grow at the significant CAGR in terms of revenue over the forecast time span due to the growing demand for frozen food in the country. The demand for healthy and less time-consuming foods is increasing rapidly in the country owing to the increasing number of working women. Growing middle-class population with increasing disposable income and increasing number of the working population in the country will propel the commercial refrigeration equipment market growth. The retailers and suppliers are increasingly focusing on equipping the stores with technologically-advanced cooling equipment.
Based on Product, the market is segmented into Refrigerators & Freezers, Transportation Refrigeration Equipment, Beverage Refrigeration, Ice Merchandisers & Ice Vending Equipment, Display Showcases and Others. Based on Application, the market is segmented into Food Service, Food & Beverage Distribution, Food & Beverage Retail, Food & Beverage Production and Others. Based on Retail Channel, the market is segmented into Hypermarket & Supermarket, Convenience store & Specialty store and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include WELBILT, Inc., Panasonic Corporation, Standex International Corporation, GEA Group AG, Emerson Electric co., Whirlpool Corporation, United Technologies Corporation, Johnson Controls International Plc., Illinois Tool Works Inc., and The Manitowoc Company, Inc.
Market Segmentation:
By Product
By Application
By Retail Channel
By Country
Companies Profiled
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