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Commercial Refrigerators Market

Commercial Refrigerators Market (Capacity - 0.5 Cu. Ft. to 3.0 Cu. Ft., 3.1 Cu. Ft. to 6.0 Cu. Ft., 6.1 Cu. Ft. to 9.0 Cu. Ft.; Beverage Refrigerators, Wine Refrigerators; Refrigerated Display Cases - Plug-in, Remote; Freezers - Chest Freezers, Vertical Freezers, Ice-cream Freezers; Fridge Freezers - Single-door Freezers, Multi-door Freezers) - Asia Pacific Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024

Asia Pacific Commercial Refrigerators Market: Key Trends

The commercial refrigerators market in Asia Pacific will continue to rise, with China leading the market from the front, Transparency Market Research says. As the region faces the mushrooming of convenience stores, hypermarkets, super markets, grocery shops, and restaurants, the installation of commercial refrigerators is expected to rise considerably in the forthcoming years. Along with this, the conspicuous demand for energy-efficient solutions will pave the way for research and development activities in the market.

With opportunities for foreign direct investment widening in the food retail sector, Transparency Market Research (TMR) expects the commercial refrigerators market in Asia Pacific to surge at a 9.8% CAGR between 2016 and 2024. Around this time, technologies such as magnetocaloric refrigeration, which offer 20% to 30% reduced energy consumption, will witness wider commercialization.

The booming hospitality sector and the food retail industry will enable the commercial refrigerators market in Asia Pacific to reach US$38.83 bn by 2024, rising steadily from nearly US$16.99 bn in 2015.

asia-pacific-commercial-refrigerators-market

Considerable Presence of Local and Multinational Players Helps Keep Prices of Commercial Refrigerators in China in Check

The commercial refrigerators market is gaining considerable traction across China, India, Thailand, and Indonesia. The rapid proliferation of quick service restaurants and the increasing penetration of multinational retailers in these countries have fuelled the demand for energy-efficient commercial refrigerators.

China reports the highest demand for commercial refrigerators in Asia Pacific. It held over 33.5% of the Asia Pacific commercial refrigerators market in 2015. The country boasts a considerable presence of both local and multinational manufacturers; hence, commercial refrigerators are available at a comparatively lower purchasing cost in China. This will in turn propel the China commercial refrigerators market at a CAGR of 7.3% by revenue, from 2016 to 2024.

Demand for commercial refrigerators is also likely to increase considerably in India, Australia, New Zealand, South Korea, and Rest of Asia Pacific.

Demand for Beverage Refrigerators to Surge, Fuelled by Rising Tourism

The market for commercial refrigerators has been segmented based on beverage refrigerators, freezers, refrigerated display cases, glass door refrigerators, retail channels, and fridge freezers. Based on beverage refrigerator type, the market has been bifurcated into beverage refrigerator and wine refrigerator. In terms of revenue, the beverage refrigerator segment emerged dominant in the market, accounting for a share of over 57.2% in 2015. The growth witnessed in the tourism sector is expected to positively influence the sales prospects of beverage refrigerators during the forecast period. However, the segment is expected to lose its market share to the wine refrigerators as alcohol consumption increases in the Philippines.

The refrigerated display segment is further categorized into plug-in and remote refrigerated display. By freezer type, the market has been classified into vertical freezers, chest freezers, and ice-cream freezers. In terms of glass door refrigerators, the market comprises glass door refrigerators with storage capacities of 6.1 Cu. Ft. to 9.0 Cu. Ft., 3.1 Cu. Ft. to 6.0 Cu. Ft., 0.5 Cu. Ft to 3.0 Cu. Ft., and others with a storage capacity of more than 9.0 Cu. Ft. Likewise, the fridge freezer segment includes single-door and multi-door fridge freezers.

By retail channel, hypermarkets in Asia Pacific are likely to demonstrate the highest demand for commercial refrigerators in 2015. As per TMR, the segment held approximately 30.6% of the market in 2015. Favorable policies encouraging the setting-up of hypermarkets across Asia Pacific will seal the dominance of this segment through the forecast period.

Apart from this, the demand for commercial refrigerators is also expected to rise significantly across supermarkets, restaurants, and convenience stores in Asia Pacific.

Some of the most prominent companies operating in the market include Haier Electronics Group Co. Ltd., Liebherr Group, Hitachi, Ltd., Panasonic Corporation, LG Electronics, Samsung Electronics Co. Ltd., GE Appliances, Fukushima Industries Corporation, and others. 

Sustainable Technologies Attract Attention of Consumers in Asia Pacific Commercial Refrigerators Market

Commercial refrigeration technologies have become indispensable for a slew of industries such as food service chains, retail and groceries, and healthcare industry. Numerous economies in Asia Pacific have seen rapidly expanding consumer demand in these end-use industries. Prominently, the burgeoning retail food chains and hyperstores in urban regions in numerus economies have spurred the use of commercial refrigerators. The Asia Pacific commercial refrigerators market has been making advances on the back of the continuous technological advances toward making them more energy-efficient. The demand for environmentally friendly commercial refrigeration technologies that comply with regional regulations is expected to massively influence the market’s growth dynamics. For instance, such regulations have been discouraging the use of ozone-depleting substances (ODS), motivating current users to replace their conventional technologies. Not only in Asia Pacific, but worldwide such substances who can adversely environmental affects have come under the scanner. These include chlorofluorocarbons (CFCs), hydrobromofluorocarbons (HBFCs), and hydrofluorocarbons (HFCs). Though a few of these materials are still used in commercial refrigeration systems, facility managers have become increasingly cautious in preventing any leaks. Such leakage control systems may be economically viable in large facilities, but for grocers and convenience stores, built-in refrigerant performance tracking is option that is more pragmatic. The growing integration of such features is becoming a key trend and is boosting demand in the Asia Pacific commercial refrigerators market.

The coronavirus disease of 2019, now popularly known as COVID-19, has posed unprecedented mortality and morbidity in just a span of few months since 2019 in various parts of the globe. The causative agent SARS-CoV-2 has spread unexpectedly fast to populations worldwide with governments resorting to stay-at-home orders and other economic activity restrictions to minimize the health impacts. However, in recent times, industrial manufacturing and retail chains are gradually opening up especially in developing world. Thus, consumer demands have increased. This will also likely impact the consumer demands in end-use industries, thereby changing the course of Asia Pacific commercial refrigerators market in the foreseeable future.

Commercial Refrigerators Market

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1. Preface
     1.1. Research Scope
     1.2. Market Segmentation
     1.3. Research Methodology

2. Executive Summary
     2.1. Asia Pacific Commercial Refrigerators Market Snapshot
     2.2. Asia Pacific Commercial Refrigerators Market Revenue and Volume, 2014 – 2024 (US$ Mn and Thousand Units)

3. Asia Pacific Commercial Refrigerators Market Analysis, 2014 – 2024 (US$ Mn and Thousand Units) 
     3.1. Overview
     3.2. Key Trends Analysis
     3.3. Market Dynamics
            3.3.1. Drivers
            3.3.2. Restraints
            3.3.3. Opportunities
     3.4. Glass Door Refrigerator and Freezers Distribution Channel Analysis (% sales, 2014)
     3.5. Price Trends Analysis for Commercial Refrigerators Market (US$)
     3.6. Asia Pacific Glass Door Refrigerators (Closed) Market Analysis, By Capacity, 2014 – 2024 (US$ Mn and Thousand Units)
            3.6.1. Overview
            3.6.2. 0.5 Cu. Ft. – 3.0 Cu. Ft.
            3.6.3. 3.1 Cu. Ft. – 6.0 Cu. Ft.
            3.6.4. 6.1 Cu. Ft. – 9.0 Cu. Ft.
            3.6.5. Others
     3.7. Asia Pacific Beverage Refrigerators Market Analysis, By Type, 2014 – 2024 (US$ Mn and Thousand Units)
            3.7.1. Beverage Refrigerators
            3.7.2. Wine Refrigerators
     3.8. Asia Pacific Refrigerated Display Cases (Open) Market Analysis, By Type, 2014 – 2024 (US$ Mn and Thousand Units)
            3.8.1. Overview
            3.8.2. Plug-in
            3.8.3. Remote
     3.9. Asia Pacific Freezers Market Analysis, By Type, 2014 – 2024 (US$ Mn and Thousand Units)
            3.9.1. Overview
            3.9.2. Chest Freezers
            3.9.3. Vertical Freezers
            3.9.4. Ice-cream Freezers
     3.10. Asia Pacific Fridge Freezers Market Analysis, By Type, 2014 – 2024 (US$ Mn and Thousand Units)
            3.10.1. Overview
            3.10.2. Single Door Fridge Freezers 
            3.10.3. Multi Door Fridge Freezers
     3.11. Asia Pacific Commercial Refrigerators Market Analysis, By Retail Channel, 2014 – 2024 (US$ Mn and Thousand Units)
            3.11.1. Overview
            3.11.2. Hypermarkets
            3.11.3. Supermarkets
            3.11.4. Convenience Stores
            3.11.5. Restaurants
            3.11.6. Others
     3.12. Competitive Landscape
            3.12.1. Market Positioning of Key Players, 2015
            3.12.2. Competitive Strategies Adopted by Leading Players
            3.12.3. Recommendations

4. Philippines Commercial Refrigerators Market Analysis, 2014 – 2024 (US$ Mn and Thousand Units) 
     4.1. Key Trends Analysis
     4.2. Philippines Glass Door Refrigerators (Closed) Market Analysis, By Capacity, 2014 – 2024 (US$ Mn and Thousand Units)
            4.2.1. 0.5 Cu. Ft. – 3.0 Cu. Ft.
            4.2.2. 3.1 Cu. Ft. – 6.0 Cu. Ft.
            4.2.3. 6.1 Cu. Ft. – 9.0 Cu. Ft.
            4.2.4. Others
     4.3. Philippines Beverage Refrigerators Market Analysis, 2014 – 2024 (US$ Mn and Thousand Units)
            4.3.1. Beverage Refrigerators
            4.3.2. Wine Refrigerators
     4.4. Philippines Refrigerated Display Cases (Open) Market Analysis, By Type, 2014 – 2024 (US$ Mn and Thousand Units)
            4.4.1. Plug-in
            4.4.2. Remote
     4.5. Philippines Freezers Market Analysis, By Type, 2014 – 2024 (US$ Mn and Thousand Units)
            4.5.1. Chest Freezers
            4.5.2. Vertical Freezers
            4.5.3. Ice-cream Freezers
     4.6. Philippines Fridge Freezers Market Analysis, By Type, 2014 – 2024 (US$ Mn and Thousand Units)
            4.6.1. Single Door Fridge Freezers 
            4.6.2. Multi Door Fridge Freezers
     4.7. Asia Pacific Commercial Refrigerators Market Analysis, By Retail Channel, 2014 – 2024 (US$ Mn and Thousand Units)
            4.7.1. Overview
            4.7.2. Hypermarkets
            4.7.3. Supermarkets
            4.7.4. Convenience Stores
            4.7.5. Restaurants
            4.7.6. Others

5. Asia Pacific Commercial Refrigerators Market, Country Snippets (US$ Mn and Thousand Units)
     5.1. China
     5.2. Japan
     5.3. India
     5.4. Australia and New Zealand
     5.5. South Korea

6. Company Profiles
     6.1. AB Electrolux
            6.1.1. Company Details (HQ, Foundation Year, Employee Strength)
            6.1.2. Market Presence, By Segment and Geography
            6.1.3. Key Developments
            6.1.4. Strategy and Historical Roadmap
            6.1.5. Revenue and Operating Profits
     6.2. Fukushima Industries Corporation
            6.2.1. Company Details (HQ, Foundation Year, Employee Strength)
            6.2.2. Market Presence, By Segment and Geography
            6.2.3. Key Developments
            6.2.4. Strategy and Historical Roadmap
            6.2.5. Revenue and Operating Profits
     6.3. GE Appliances
            6.3.1. Company Details (HQ, Foundation Year, Employee Strength)
            6.3.2. Market Presence, By Segment and Geography
            6.3.3. Key Developments
            6.3.4. Strategy and Historical Roadmap
            6.3.5. Revenue and Operating Profits
     6.4. Haier Group
            6.4.1. Company Details (HQ, Foundation Year, Employee Strength)
            6.4.2. Market Presence, By Segment and Geography
            6.4.3. Key Developments
            6.4.4. Strategy and Historical Roadmap
            6.4.5. Revenue and Operating Profits
     6.5. Hitachi, ltd.
            6.5.1. Company Details (HQ, Foundation Year, Employee Strength)
            6.5.2. Market Presence, By Segment and Geography
            6.5.3. Key Developments
            6.5.4. Strategy and Historical Roadmap
            6.5.5. Revenue and Operating Profits
     6.6. LG Electronics
            6.6.1. Company Details (HQ, Foundation Year, Employee Strength)
            6.6.2. Market Presence, By Segment and Geography
            6.6.3. Key Developments
            6.6.4. Strategy and Historical Roadmap
            6.6.5. Revenue and Operating Profits
     6.7. Liebherr group
            6.7.1. Company Details (HQ, Foundation Year, Employee Strength)
            6.7.2. Market Presence, By Segment and Geography
            6.7.3. Key Developments
            6.7.4. Strategy and Historical Roadmap
            6.7.5. Revenue and Operating Profits
     6.8. Midea Group
            6.8.1. Company Details (HQ, Foundation Year, Employee Strength)
            6.8.2. Market Presence, By Segment and Geography
            6.8.3. Key Developments
            6.8.4. Strategy and Historical Roadmap
            6.8.5. Revenue and Operating Profits
     6.9. Panasonic Corporation
            6.9.1. Company Details (HQ, Foundation Year, Employee Strength)
            6.9.2. Market Presence, By Segment and Geography
            6.9.3. Key Developments
            6.9.4. Strategy and Historical Roadmap
            6.9.5. Revenue and Operating Profits
     6.10. Samsung Electronics Co. Ltd.
            6.10.1. Company Details (HQ, Foundation Year, Employee Strength)
            6.10.2. Market Presence, By Segment and Geography
            6.10.3. Key Developments
            6.10.4. Strategy and Historical Roadmap
            6.10.5. Revenue and Operating Profits
     6.11. Sharp Corporation
            6.11.1. Company Details (HQ, Foundation Year, Employee Strength)
            6.11.2. Market Presence, By Segment and Geography
            6.11.3. Key Developments
            6.11.4. Strategy and Historical Roadmap
            6.11.5. Revenue and Operating Profits
     6.12. SMEG S.p.A
            6.12.1. Company Details (HQ, Foundation Year, Employee Strength)
            6.12.2. Market Presence, By Segment and Geography
            6.12.3. Key Developments
            6.12.4. Strategy and Historical Roadmap
            6.12.5. Revenue and Operating Profits
     6.13. Unimagna Philippines, Inc.
            6.13.1. Company Details (HQ, Foundation Year, Employee Strength)
            6.13.2. Market Presence, By Segment and Geography
            6.13.3. Key Developments
            6.13.4. Strategy and Historical Roadmap
            6.13.5. Revenue and Operating Profits

List of Tables

Table 1. Market Snapshot (1/4)
Table 2. Mobile Connections in Asia pacific 
Table 3. Tourist Arrivals in ASEAN Countries
Table 4. Asia Pacific Glass Door Refrigerators and Freezers Distribution Channel Analysis  (% Sales, 2014)
Table 5. Asia Pacific Glass Door Refrigerators Market Size and Forecast, by Capacity, 2014 – 2024 (US$ Mn)
Table 6. Asia Pacific Glass Door Refrigerators Market Volume and Forecast, by Capacity, 2014 – 2024 (Thousand Units)
Table 7. Asia Pacific Beverage Refrigerators Market Size and Forecast, by Type, 2014 – 2024 (US$ Mn)
Table 8. Asia Pacific Beverage Refrigerators Market Volume and Forecast, by Type, 2014 – 2024 (Thousand Units)
Table 9. Asia Pacific Refrigerated Display Cases Market Size and Forecast, by Type, 2014 – 2024 (US$ Mn)
Table 10. Asia Pacific Refrigerated Display Cases Market Volume and Forecast, by Type, 2014 – 2024 (Thousand Units)
Table 11. Asia Pacific Freezers Market Size and Forecast, by Type, 2014 – 2024 (US$ Mn)
Table 12. Asia Pacific Freezers Market Volume and Forecast, by Type, 2014 – 2024 (Thousand Units)
Table 13. Asia Pacific Fridge Freezers Market Size and Forecast, by Type, 2014 – 2024 (US$ Mn)
Table 14. Asia Pacific Fridge Freezers Market Volume and Forecast, by Type, 2014 – 2024 (Thousand Units)
Table 15. Asia Pacific Commercial Refrigerators Market Size and Forecast, by Retail Channel, 2014 – 2024 (US$ Mn)
Table 16. Asia Pacific Commercial Refrigerators Market Volume and Forecast, by Retail Channel, 2014 – 2024 (Thousand Units)
Table 17. Philippines Glass Door Refrigerators Market Size and Forecast, By Capacity, 2014 – 2024 (US$ Mn)
Table 18. Philippines Glass Door Refrigerators Market Volume and Forecast, By Capacity, 2014 – 2024 (Thousand Units)
Table 19. Philippines Beverage Refrigerators Market Size and Forecast, By Type, 2014 – 2024 (US$ Mn)
Table 20. Philippines Beverage Refrigerators Market Volume and Forecast, By Type, 2014 – 2024 (Thousand Units)
Table 21. Philippines Refrigerated Display Cases Market Size and Forecast, By Type, 2014 – 2024 (US$ Mn)
Table 22. Philippines Refrigerated Display Cases Market Volume and Forecast, By Type, 2014 – 2024 (Thousand Units)
Table 23. Philippines Freezers Market Volume and Forecast, By Type, 2014 – 2024 (Thousand Units)
Table 24. Philippines Freezers Market Size and Forecast, By Type, 2014 – 2024 (US$ Mn)
Table 25. Philippines Fridge Freezers Market Size and Forecast, By Type, 2014 – 2024 (US$ Mn)
Table 26. Philippines Fridge Freezers Market Volume and Forecast, By Type, 2014 – 2024 (Thousand Units)
Table 27. Philippines Commercial Refrigerators Market Size and Forecast, By Retail Channel, 2014 – 2024 (US$ Mn)
Table 28. Philippines Commercial Refrigerators Market Volume and Forecast, By Retail Channel, 2014 – 2024 (Thousand Units)
Table 29. Asia Pacific Commercial Refrigerators Market Size and Forecast, Country Snippets (US$ Mn)
Table 30. Asia Pacific Commercial Refrigerators Market Volume and Forecast, Country Snippets (Thousand Units)

List of Figures

Figure 1. Market Segmentation
Figure 2. Market Sizing Methodology – Stage 1
Figure 3. Market Sizing Methodology – Stage 2
Figure 4. Forecast Methodology – Commercial Refrigerators Market
Figure 5. Asia Pacific Commercial Refrigerators Market Revenue and Volume, 2014 – 2024, (US$ Mn and Thousand Units)
Figure 6. Asia Pacific Commercial Refrigerators Market Revenue, By Country, 2015 (US$ Mn)
Figure 7. Asia Pacific Glass Door Refrigerators Market, By Capacity, 2015 (US$ Mn)
Figure 8. Asia Pacific Beverage Refrigerators Market, By Type, 2015 (US$ Mn)
Figure 9. Asia Pacific Refrigerated Display Cases Market, By Type, 2015 (US$ Mn)
Figure 10. Asia Pacific Freezers Market, By Type, 2015 (US$ Mn)
Figure 11. Asia Pacific Fridge Freezers Market, By Type, 2015 (US$ Mn)
Figure 12. Asia Pacific Commercial Refrigerators Market, By Retail Channel, 2015 (US$ Mn)
Figure 13. Asia Pacific Commercial Refrigerators Market, By Country, 2015 (US$ Mn)
Figure 14. Commercial Refrigerators Market, By Retail Channel 2015 & 2024 (US$ Mn)  
Figure 15. Magnetocaloric Refrigeration
Figure 16. Price trend Analysis: Glass Door Refrigerators (ASP US$)
Figure 17. Price trend Analysis: Beverage Refrigerators (ASP US$)
Figure 18. Price trend Analysis: Refrigerated Display Cases (ASP US$)
Figure 19. Price trend Analysis: Freezers (ASP US$)
Figure 20. Price trend Analysis: Fridge Freezers (ASP US$)
Figure 21. Impact Analysis
Figure 22. Asia Pacific Commercial Refrigerators Market Revenue and Volume, 2014 – 2024 (US$ Mn and Thousand Units)
Figure 23. Asia Pacific Glass Door Refrigerators Market Revenue and Volume, by Capacity, 2014 – 2024 (US$ Mn and Thousand Units)
Figure 24. Opportunity Growth Analysis (US$ Mn)
Figure 25. Asia Pacific Glass Door Refrigerators Revenue Share, by Capacity, 2015 & 2024 (Value %)
Figure 26. Asia Pacific Beverage Refrigerators Market Revenue and Volume, by Type, 2014 – 2024 (US$ Mn and Thousand Units)
Figure 27. Opportunity Growth Analysis (US$ Mn)
Figure 28. Asia Pacific Beverage Refrigerators Revenue Share, by Type, 2015 & 2024 (Value %)
Figure 29. Asia Pacific Refrigerated Display Cases Market Revenue and Volume, 2014 – 2024 (US$ Mn and Thousand Units)
Figure 30. Opportunity Growth Analysis (US$ Mn)
Figure 31. Asia Pacific Refrigerated Display Cases Revenue Share, by Type, 2015 & 2024 (Value %)
Figure 32. Asia Pacific Freezers Market Revenue and Volume, 2014 – 2024 (US$ Mn and Thousand Units)
Figure 33. Opportunity Growth Analysis (US$ Mn)
Figure 34. Asia Pacific Freezers Revenue Share, by Type, 2015 & 2024 (Value %)
Figure 35. Asia Pacific Fridge Freezers Market Revenue and Volume, 2014 – 2024 (US$ Mn and Thousand Units)
Figure 36. Opportunity Growth Analysis (US$ Mn)
Figure 37. Asia Pacific Fridge Freezers Market Share, by Type, 2015 & 2024 (Value %)
Figure 38. Asia Pacific Commercial Refrigerators Revenue Share, by Retail Channel, 2015 & 2024 (Value %)
Figure 39. Opportunity Growth Analysis (US$ Mn)
Figure 40. Market Positioning of Key Players (2015)
Figure 41. Impact Analysis
Figure 42. Philippines Commercial Refrigerators Market Revenue and Volume, 2014 – 2024 (US$ Mn and Thousand Units)
Figure 43. Philippines Glass Door Refrigerators Revenue Share, By Capacity, 2015 & 2024 (Value %)
Figure 44. Philippines Beverage Refrigerators Revenue Share, By Type, 2015 & 2024 (Value %)
Figure 45. Philippines Refrigerated Display Cases Revenue Share, By Type, 2015 & 2024 (Value %)
Figure 46. Philippines Freezers Revenue Share, By Type, 2015 & 2024 (Value %)
Figure 47. Philippines Fridge Freezers Revenue Share, By Type, 2015 & 2024 (Value %)
Figure 48. Philippines Commercial Refrigerators Revenue Share, By Retail Channel, 2015 & 2024 (Value %)
Figure 49. Asia Pacific Commercial Refrigerators Revenue Share, Country Snippets, 2015 & 2024 (Value %)

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