The Asia Pacific commercial refrigerators market comprises refrigerators and freezers used across different sectors such as retail, food services, and others. Commercial refrigeration helps extend the shelf life of perishable food items and beverages by maintaining temperatures at or below specified levels. Refrigerators are equipped with superior features like adjustable glass shelves, digital control panels, energy efficiency, and large storage capacity. The growing food & beverages sector across developing nations is driving the adoption of commercial refrigerators to store various food products safely.

Asia Pacific Commercial Refrigerators Market is estimated to be valued at US$ 35.08 Bn in 2024 and is expected to exhibit a CAGR of 8.3% over the forecast period 2024 to 2031.

Key Takeaways
Key players operating in the Asia Pacific Commercial Refrigerators Market Companies are Daikin Industries, Fukushima Industries Corporation, GE Appliances, Haier Group, Hoshizaki Corporation, Hitachi, LG Electronics, Liebherr Group, Midea Group, Panasonic, True Manufacturing Co., Inc., Voltas Limited, Marmon Holdings, Inc., and Electrolux AB. Daikin Industries held the largest market share of 15% in 2023.
Growing demand for frozen and chilled food from countries such as India, China, and Indonesia is bolstering the demand for commercial refrigerators in the region. Rapid urbanization and rising disposable income are fueling the growth of organized retail and food service sectors, which is further driving the refrigeration equipment market.
Technological advancements such as the introduction of IoT connectivity, smart diagnostic features, and energy-efficient refrigerators are helping businesses optimize their operations. Voice command options, mobile apps, auto-defrost, and air purification in commercial refrigerators are gaining rapid traction across industries.

Market Trends
Commercial refrigerators are getting smarter with the integration of IoT and cloud connectivity. IoT-enabled refrigerators send notifications about temperature fluctuations and maintenance requirements to managers. This helps prevent food wastage. (IoT integration enables remote monitoring of refrigerator performance and energy consumption from anywhere.)

Sustainable refrigerants and energy-efficient models are witnessing high demand due to stringent regulations on energy usage and carbon footprint. Eco-friendly refrigerants like propane and CO2 are replacing traditional refrigerants to reduce the environmental impact. (Energy Star certified models and EER ratings over 12 ensure lower operating costs for businesses.)

Market Opportunities
Growing organized retail and food delivery sectors in developing Asian countries present significant opportunities for refrigerator manufacturers. (Rising middle-class populations are increasing the demand for conveniently packaged and frozen food options.)

Increasing preference for customizable commercial refrigeration units tailored for specific food types like meat, bakery, and beverages creates prospects for customized product innovations. (Modular and mobile refrigeration solutions catering to diverse business needs will see high growth.)

Impact of COVID-19 on Asia Pacific Commercial Refrigerators Market

The COVID-19 pandemic has significantly impacted the Asia Pacific Commercial Refrigerators Market Demand. The lockdowns enforced to curb the spread of the virus resulted in temporary closures of restaurants, hotels, retail stores and other commercial establishments where refrigerators are widely used. This led to a steep decline in demand for commercial refrigerators during 2020. Manufacturing facilities also faced disruptions due to restrictions on workforce and resource crunch. However, with vaccination drives underway and economies reopening gradually post lockdowns, the market is witnessing signs of recovery from 2021.

While the immediate impact was negative, the pandemic has also opened up opportunities for growth. With social distancing becoming the norm, food establishments and retailers have increased focus on ensuring food safety protocols. There is higher demand for commercial refrigerators equipped with features like touchless doors and improved sanitization capabilities. Many businesses are also modernizing their storage infrastructure to support demand from new channels like food delivery and online shopping that gained prominence during the pandemic. The shift towards Contactless commerce is expected to boost demand for commercial refrigerators with advanced features over the forecast period.

Geographical Concentration of Asia Pacific Commercial Refrigerators Market

In terms of value, China dominates the Asia Pacific commercial refrigerators market and accounted for over 35% market share in 2024. Availability of low-cost manufacturing base and presence of leading global refrigerator brands has made China the largest producer of commercial refrigerators in the region. India is another fast growing market in the region driven by rising number of food outlets, retail stores and quick service restaurants. The Indian government's focus on food processing sector and expansion of organized food retail are supporting growth of the commercial refrigerators industry.

Fastest Growing Region in Asia Pacific Commercial Refrigerators Market

Southeast Asian countries including Indonesia, Malaysia, Thailand, Vietnam and Philippines offer attractive opportunities for commercial refrigerators market. These countries are witnessing rapid economic development, urbanization, expansion of middle-class population and changes in consumer lifestyles and food consumption patterns. This is translating to rising demand for processed and ready to eat foods from restaurants, convenience stores, supermarkets and other food service establishments. Infrastructure development projects across Southeast Asia focusing on tourism, retail and real estate sectors will further accelerate commercial refrigerators sales in the region. Indonesia stands out as the fastest growing market in Southeast Asia with a projected CAGR of over 12% during 2024-2031 forecast period.

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Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)