Dublin, July 26, 2019 (GLOBE NEWSWIRE) -- The "Asia-Pacific Commercial Refrigeration Equipment Market by Equipment Type, by Application, by End-User, by Geography - Market Size, Share, Development, Growth and Demand Forecast, 2013-2023" report has been added to ResearchAndMarkets.com's offering.

The APAC commercial refrigeration equipment market is projected to reach $24.4 billion by 2023.

On the basis of end user, the APAC commercial refrigeration equipment market has been categorized into hotels/restaurants & catering, supermarkets, hypermarkets, convenience stores, e-commerce, and others, wherein others' include hospitals; educational institutions; large pharmaceutical stores; and medical and life sciences. Among these, hotels/restaurants and catering category held the largest market share of 27% in 2017. However, e-commerce is expected to be the fastest growing end user category in terms of value, during the forecast period. This can be attributed to increasing trend of buying food and beverage online, and ease of accessibility.

In terms of value, China dominated the APAC commercial refrigeration equipment market, during the historical period and is expected to continue holding the largest share, during the forecast period. This is attributed to growing food and beverage industry in the country. The major factors driving the growth of food and beverage industry are increasing disposable income, and growing supermarkets in the country. According to the Ministry of Commerce of the People's Republic of China, supermarkets in the country are growing at a rate of 11.5% year-over-year and is further anticipated to grow at faster pace.

Moreover, in the recent years, there has been an increase in import of milk products, seafoods, and alcohol in China, from countries such as New Zealand, the U.S., Brazil, Russia, and Argentina. Also, with increasing population, the demand for meat and dairy products is growing rapidly in the country. According to the U.S. department of agriculture (USDA), China imported double the volume of meat during 2013-14 as compared to early 2000. Therefore, with rise in imports of food products, demand for commercial refrigeration equipment is expected to increase in the country.

The increasing demand for food and beverage industry is one of the most important factors driving the demand for commercial refrigeration equipment in the region. Frozen foods, food preservation, cold drinks which include alcoholic and non-alcoholic drinks are the products which require refrigeration. The growth of modern food retail is fueling growth of APAC commercial refrigeration equipment market. Modern food retail is supported by the growth of cold supply chain infrastructure for chilled, fresh and processed foods. The growth of cold supply chain infrastructure is supported by the rising concerns of food wastage annually.

Additionally, the dairy industry in APAC is expected to record CAGR of 4.2% during 2016-2021, followed by beverage and poultry industry (CAGR of 2.8% and 1.3%, respectively). The trend of eating out is fueling the food and beverage industry, in-turn propelling the demand for commercial refrigeration equipment in food service industry. In 2016, consumer spending was over 1,000 billion (PPP) which fueled the growth of food and beverage industry in APAC further supporting the sales of commercial refrigeration equipment.

The intensity of rivalry among players in the APAC commercial refrigeration equipment market is moderate. The top three players in the market accounted for a majority share in 2017. In the recent past, product and services launches, and partnerships were the major activities in the market. United Technologies Corporation, Dover Corporation, and Frigoglass S.A.I.C were involved in product and services launch in the market. Additionally, Hussmann Corporation, Frigoglass S.A.I.C, and AB Electrolux were involved in partnerships to expand their businesses in other countries.

Some of the other key players operating in the APAC commercial refrigeration equipment market include Daikin Industries Ltd., Illinois Tool Works Inc., Johnson Controls International Plc, Fujimak Corporation, and Emerson Electric Co.

Key Topics Covered

Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.3.1 Market Segmentation by Equipment Type
1.3.2 Market Segmentation by Application
1.3.3 Market Segmentation by End-User
1.3.4 Market Segmentation by Geography
1.3.5 Analysis Period
1.3.6 Market Data Reporting Unit
1.3.6.1 Value
1.3.6.2 Volume
1.4 Key Stakeholders

Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.2.1 Breakdown of Primary Research Respondents
2.2.1.1 By country
2.2.1.2 By industry participant
2.2.1.3 By company type
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions for the Study

Chapter 3. Executive Summary

Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Equipment Type
4.1.1.1 Walk-in coolers
4.1.1.2 Transportation refrigeration equipment
4.1.1.3 Display cases
4.1.1.4 Beverage refrigeration
4.1.1.5 Parts
4.1.1.6 Ice making machineries
4.1.1.7 Other equipment
4.1.2 By Application
4.1.2.1 Food service
4.1.2.2 Food and beverage distribution
4.1.2.3 Food and beverage retail
4.1.2.4 Others
4.1.3 By End-User
4.1.3.1 Supermarkets
4.1.3.2 Hotels/restaurants & catering
4.1.3.3 Hypermarkets
4.1.3.4 Convenience stores
4.1.3.5 E-commerce
4.1.3.6 Others
4.2 Value Chain Analysis
4.2.1 Commercial refrigeration equipment manufacturers
4.2.2 Independent wholesalers/distributors
4.2.3 Retailers
4.2.4 End users
4.3 Market Dynamics
4.3.1 Trends
4.3.1.1 Use of Environment Friendly Refrigerants
4.3.2 Drivers
4.3.2.1 Increasing Urbanization Positively Impacting the Market
4.3.2.2 Growing Food & Beverage Industry
4.3.2.3 Impact Analysis of Drivers on Market Forecast
4.3.3 Restraints
4.3.3.1 Fluctuating Fuel Prices Affecting the Sale of Reefers
4.3.3.2 Increasing Demand from Unorganized Market
4.3.3.3 Impact Analysis of Restraints on Market Forecast
4.3.4 Opportunities
4.3.4.1 Escalating E-Commerce Industry
4.4 Porter's Five Forces Analysis

Chapter 5. Asia-Pacific Market Size and Forecast
5.1 By Equipment Type
5.2 By Application
5.3 By End-User
5.4 By Country

Chapter 6. China Market Size and Forecast

Chapter 7. Japan Market Size and Forecast

Chapter 8. India Market Size and Forecast

Chapter 9. Australia Market Size and Forecast

Chapter 10. South Korea Market Size and Forecast

Chapter 11. Rest of APAC Market Size and Forecast

Chapter 12. Competitive Landscape
12.1 Market Share Analysis of Key Players
12.2 Recent Activities of Major Players
12.3 Strategic Developments of Key Players
12.3.1 Mergers and Acquisitions
12.3.2 Product and Service Launches
12.3.3 Partnerships

Chapter 13. Company Profiles
13.1 United Technologies Corporation
13.1.1 Business Overview
13.1.2 Product & Service Offerings
13.1.3 Key Financial Summary
13.2 Hussmann Corporation
13.3 AB Electrolux
13.4 Frigoglass S.A.I.C.
13.5 Dover Corporation
13.6 Daikin Industries Ltd.
13.7 Illinois Tool Works Inc.
13.8 Johnson Controls International PLC
13.9 Fujimak Corporation
13.10 Emerson Electric Co.

For more information about this report visit https://www.researchandmarkets.com/r/9zgr0d

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

CONTACT: ResearchAndMarkets.com
         Laura Wood, Senior Press Manager
         press@researchandmarkets.com
         For E.S.T Office Hours Call 1-917-300-0470
         For U.S./CAN Toll Free Call 1-800-526-8630
         For GMT Office Hours Call +353-1-416-8900
Related Topics: Industrial Refrigeration