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Increasing Count of Hypermarkets and Supermarkets to Drive Commercial Refrigerators Market in Asia Pacific

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The development in the Asia Pacific food and retail industry is driving the demand for cutting-edge refrigerators. Commercial refrigerators possess huge storage capacity and optimal operational temperatures apt to store a variety of food product types. The increasing hectic lifestyles of individuals and the rising willingness of these individuals to expend on convenience food products has driven the market for packaged beverages and food, thus providing impetus to the commercial refrigerators market in Asia Pacific. In addition, the soaring count of restaurants, cafes, and supermarkets will raise the adoption of commercial refrigerators within Asia Pacific. 

Browse the full Asia Pacific Commercial Refrigerators Market Report:

Soaring Maintenance Costs of Commercial Refrigerators to Impede Demand 

The increasing significance of energy efficiency in the consumer appliances and commercial sector has also driven the demand for commercial refrigerators in Asia Pacific. On the other hand, the skyrocketing cost of procurement and the soaring maintenance costs of commercial refrigerators may impede the development of the market. Furthermore, the presence of substitute packaging solutions including temperature-control packaging solutions, etc. may restrict the demand for commercial refrigerators in the region of Asia Pacific. 

Increasing Tourism Ballooned Demand for Beverage Refrigerators in 2015 

Commercial refrigerators are of many types such as freezers, beverage refrigerators, refrigerated display cases, retail channels, fridge freezers, and glass door refrigerators. Beverage refrigerators are further segmented into wine refrigerators and beverage refrigerators. Amongst these, the segment of beverage refrigerators led the market in 2015 with a share of more than 57.2%. This is due to the increasing development in the sector of tourism in Asia Pacific, which will raise the sales of beverage refrigerators in the coming years. On the other hand, the segment of wine refrigerators is predicted to supersede this segment and is predicted to hold a dominant share in the market in the coming years owing to the growing consumption of alcohol in the Philippines. 

Hypermarkets Accompanied Most Extensive Deployment of Commercial Refrigerators in 2015 

A number of retail channels utilize commercial refrigerators in Asia Pacific. These include supermarkets, hypermarkets, restaurants, convenience stores, and others including retail stores and pharmaceutical shops. Of these, the consumption of commercial refrigerators was the highest in hypermarkets within Asia Pacific in 2015. This segment constituted a share of around 30.6% in the same year. This is due to the increasing favorable policies resulting in the opening of a number of hypermarkets in Asia Pacific. 

China Held a Share of Over 33.5% in 2015, Dominance of Local and Multinational Manufacturers a Key Driver 

Geographically, the commercial refrigerators market in Asia Pacific is categorized into Japan, China, India, South Korea, and Australia and New Zealand. Of these, China emerged as the highest consumer of commercial refrigerators in the region of Asia Pacific and constituted a share of more than 33.5% in the market in 2015. This is due to the presence of both multinational and local manufacturers in this nation due to which commercial refrigerators are sold at much cheaper prices in this nations, thus fuelling their demand. Thus, the China commercial refrigerators market is poised to rise at a 7.30% CAGR between 2016 and 2024. 

Browse the full Press Release of Asia Pacific Commercial Refrigerators Market

The prominent players in the Asia Pacific commercial refrigerators market are Liebherr Group, Haier Electronics Group Co. Ltd., Hitachi, Ltd., LG Electronics, Panasonic Corporation, Samsung Electronics Co. Ltd., Fukushima Industries Corporation, and GE Appliances, among others.