Asia Pacific Commercial Refrigeration Equipment Market Size & Outlook
Asia Pacific commercial refrigeration equipment market, 2018-2030 (US$M)
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Asia Pacific commercial refrigeration equipment market highlights
- The Asia Pacific commercial refrigeration equipment market generated a revenue of USD 11,315.9 million in 2023.
- The market is expected to grow at a CAGR of 6.7% from 2024 to 2030.
- In terms of segment, other equipment was the largest revenue generating product in 2023.
- Refrigerators & Freezers is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, India is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 11,315.9 million |
| Market revenue in 2030 | USD 17,855.4 million |
| Growth rate | 6.7% (CAGR from 2023 to 2030) |
| Largest segment | Other equipment |
| Fastest growing segment | Refrigerators & Freezers |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Transportation Refrigeration Equipment, Refrigerators & Freezers, Beverage Refrigeration, Display Showcases, Ice Merchandisers & Ice Vending Equipment, Other Equipment |
| Key market players worldwide | Ashford Hospitality Trust Inc, Altus Group Ltd, Carrier Global Corp Ordinary Shares, Daikin Industries Ltd, Dover Corp, Electrolux AB ADR, Panasonic Holdings Corp, Illinois Tool Works Inc, Johnson Controls International PLC, Lennox International Inc, Whirlpool Corp |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 27.7% of the global commercial refrigeration equipment market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 17,855.4 million by 2030.
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Commercial Refrigeration Equipment Market Scope
Commercial Refrigeration Equipment Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific commercial refrigeration equipment market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to commercial refrigeration equipment market will help companies and investors design strategic landscapes.
Other equipment was the largest segment with a revenue share of 25.99% in 2023. Horizon Databook has segmented the Asia Pacific commercial refrigeration equipment market based on transportation refrigeration equipment, refrigerators & freezers, beverage refrigeration, display showcases, ice merchandisers & ice vending equipment, other equipment covering the revenue growth of each sub-segment from 2018 to 2030.
The food service industry in Asia Pacific has experienced a substantial change over the past decade. The industry is driven by various factors such as steady employment, improving economic conditions, and rising gross disposable income, which ultimately indulge consumer spending on non-essential leisure activities such as traveling and dining out.
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Target buyers of Asia Pacific commercial refrigeration equipment market databook
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Our clientele includes a mix of commercial refrigeration equipment market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific commercial refrigeration equipment market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific commercial refrigeration equipment market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific commercial refrigeration equipment market size, by country, 2018-2030 (US$M)
Asia Pacific Commercial Refrigeration Equipment Market Outlook Share, 2023 & 2030 (US$M)
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