Asia Pacific Refrigeration Coolers Market Size, Share & Industry Trends Analysis Report By Component, By Refrigerant Type, By Application, By Commercial Type, By Industrial Type, By Country and Growth Forecast, 2021 - 2027
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Market Report Description
The Asia Pacific Refrigeration Coolers Market would witness market growth of 6.3% CAGR during the forecast period (2021-2027).
As more fast-moving consumer items are consumed, the demand for smart refrigeration, cold storage chain logistics, and transportation has grown. Moreover, as internet shopping and e-grocery have grown in popularity, demand for units to store and chill these products has soared, owing to recent improvements in refrigerated coolers.
Refrigeration Coolers are becoming increasingly popular as the demand for refrigerated food and beverage items grows, as is their use in chemicals and pharmaceuticals, the hospitality industry, and other areas. Because of the importance of a healthy diet and changes in customer preferences around the world, consumption of healthy food items such as ready-to-eat and frozen fruits is expanding. Moreover, rising government regulations and concerns about toxic refrigerants that contribute to ozone depletion would provide substantial market prospects for magnetic refrigeration technology and green technology.
Currently, the regional market is witnessing an increased demand for refrigerated cooling units from commercial and industrial applications in APAC. China, India, and Japan are among the world's prominent countries regarding refrigerated warehouse capacity, and worldwide market players are witnessing significant demand from China, India, Japan, and South Korea for portable fridges, 12v fridge drinks fridges, and walk-in freezers. In recent years, there has been a rising demand for frozen food items in India, China, South Korea, and Japan. In addition, food manufacturers all throughout the region are concentrating on making frozen versions of regional foods.
The Organic Trade Association (OTA) predicts that the global organic food business will develop at the fastest rate in the food industry. Customers choose healthy, nutrition-based food products grown naturally with organic seeds and supplements, which places greater reliance on the refrigeration process and equipment.
The China market dominated the Asia Pacific Refrigeration Coolers Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $490.5 million by 2027. The Japan market is poised to grow at a CAGR of 5.7% during (2021 - 2027). Additionally, The India market would experience a CAGR of 7% during (2021 - 2027).
Based on Component, the market is segmented into Evaporators & Air coolers and Condenser. Based on Refrigerant Type, the market is segmented into HFC/HFO, NH3, CO2, Glycol, and Others. Based on Application, the market is segmented into Commercial and Industrial. Based on Commercial Type, the market is segmented into Supermarkets & Hypermarkets, Convenience Stores & Mini Markets and Hospitality. Based on Industrial Type, the market is segmented into Refrigerated Warehouses, Beverage Processing, Fruit & Vegetable Processing, Dairy & Ice-cream Processing, Meat, Poultry, & Fish Processing 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 Johnson Controls International PLC, Emerson Electric Co., Carrier Global Corporation, Daikin Industries, Ltd., The Danfoss Group, Lennox International, Inc., Guntner GmbH & Co. KG, Evapco, Inc., Baltimore Aircoil Company Inc. (Amsted Industries), and Koxka.
Scope of the Study
Market Segments Covered in the Report:
- Evaporators & Air coolers and
By Refrigerant Type
- Glycol, and
- Commercial and
By Commercial Type
- Supermarkets & Hypermarkets
- Convenience Stores & Mini Markets and
By Industrial Type
- Refrigerated Warehouses
- Beverage Processing
- Fruit & Vegetable Processing
- Dairy & Ice-cream Processing
- Poultry, & Fish Processing and
- South Korea
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Johnson Controls International PLC
- Emerson Electric Co.
- Carrier Global Corporation
- Daikin Industries, Ltd.
- The Danfoss Group
- Lennox International, Inc.
- Guntner GmbH & Co. KG
- Evapco, Inc.
- Baltimore Aircoil Company Inc. (Amsted Industries)
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