Explore APAC Commercial Refrigeration Equipment Market, Size, Share, Growth, Trends and Forecast 2024

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.

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With the rapid growth in population in this Asia, people are migrating to urban areas for higher standard of living and job opportunities, together with the drift in demography the factor is leading to increase in the number of super markets, hypermarket, hotels, restaurants, and others, which in turn creates demand for the commercial refrigeration equipment.

China is the largest commercial refrigeration equipment market in 2018 owing to the increasing food and beverages industry. The major reason behind the growth of the food and beverage industry is increasing the number of supermarkets, hypermarkets, stores, and increasing disposable income in the country.

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