Commercial refrigerators are evolving and witnessing a transition from conventional plug-ins to advanced refrigerators consuming lower energy and dissipating negligible heat. This is increasing their demand. The Asia Pacific commercial refrigerators market is witnessing a substantial growth on account of the varying food consumption patterns and mandatory regulations compelling the replacement of conventional commercial refrigerators with the upgraded, energy efficient ones. Players in the market are focusing on product innovation and improving the customer experience so as to enjoy a competitive edge above other players. Companies wishing to reach out to the price sensitive countries in Asia Pacific are focusing on competitive pricing of their products.
Growth in Retail Sector to Aid Commercial Refrigerators Market
A surge in international food trade is supporting the demand for commercial refrigerators. Other factors responsible for the substantial growth of the Asia Pacific commercial refrigerators market include the expansion of the retail sector and the emergence of newer retail networks. The rising disposable incomes of consumers are enabling them to opt for packaged foods and beverages, thus supporting the growth of the market. Moreover, the busy lifestyles of consumers are also stoking the demand for ready-to-eat convenience food.
The growing awareness regarding energy efficiency has encouraged retailers to opt for eco-friendly commercial refrigerators or replace their existing ones. In addition to this, the high demand from hyper markets and super markets for commercial refrigerators in order to utilize the available space for product displays or promotions will drive the market.
Unaffordability of Commercial Refrigerators Deter Small-sized Retailers from Adoption
Commercial refrigerators are expensive and need frequent maintenance, which is deterring small retail stores from purchasing them. The high prices of commercial refrigerators are compelling small retailers to look for cheaper alternatives. This is limiting the deployment of these refrigerators to large supermarkets and retail outlets. Moreover, the availability of temperature-control packaging is another factor emerging as a threat to the Asia Pacific commercial refrigerators market. However, the introduction of solar powered commercial refrigerators is anticipated to create new opportunities of growth in the market. Smart commercial refrigerators will also hold promise of new growth in the market.
China to Lead in Demand for Commercial Refrigerators in Asia Pacific
Countries such as Thailand, China, India, and Indonesia are significantly contributing to the growth of the commercial refrigerators market in Asia Pacific. However, the contribution of China is the highest, accounting for 33.5% of the Asia Pacific commercial refrigerators market in 2015. The country is home to local as well as multinational manufacturers of commercial refrigerators and thus, these refrigerators are available at a cheaper price in China. The demand for commercial refrigerators is also likely to increase from Australia, South Korea, New Zealand, and the Rest of Asia Pacific.
Browse the full Asia Pacific Commercial Refrigerators Market report at http://www.mrrse.com/asia-pacific-commercial-refrigerators-market
Key players operating in the Asia Pacific commercial refrigerators market include Liebherr Group, Haier Electronics Group Co. Ltd., Fukushima Industries Corporation, Hitachi, Ltd., LG Electronics, Samsung Electronics Co. Ltd., Panasonic Corporation, and GE Appliances.