Press release
Commercial Refrigerators Market: Advanced technologies & growth opportunities in global Industry by 2024
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.
Obtain Report Details @
http://www.transparencymarketresearch.com/asia-pacific-commercial-refrigerators-market.html
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.
This 135-page report gives readers a comprehensive overview of the Commercial Refrigerators Market. Browse to unlock the hidden opportunities in this market
http://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=13139
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.
About Us
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR Syndicated Research report covers a different sector – such as pharmaceuticals, chemical, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, our syndicated reports thrive to provide clients to serve their overall research requirement.
Contact
Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Commercial Refrigerators Market: Advanced technologies & growth opportunities in global Industry by 2024 here
News-ID: 653010 • Views: …
More Releases from TMR - Research Reports
Pulmonary Drugs Market is Expected to Reach US$ 28,082.1 Million by the End of 2 …
According to the research report, the global pulmonary drugs market is expected to be worth US$ 28,082.1 mn by the end of 2024 as compared to US$ 48,039.7 mn in 2015. Analysts calculate that the global market will plummet at a CAGR of -6.3% during the forecast period of 2016 and 2024. The market will thrive as the demand for combination drugs is anticipated to remain on the rise during…
North America Ventricular Assist Device Market is rising to a valuation of US$ 1 …
According to TMR, the opportunity in the North America market for VADs, which stood at US$0.4 bn in 2015, is likely to expand at a healthy CAGR of 9.20% between 2016 and 2024 and increase to US$1.07 bn by the end of the forecast period. The destination therapy (DT) segment has been reporting a greater application of VADs than the other two indication segments. It is expected to remain the…
Dental Membrane and Bone Graft Substitutes Market to rise to US$ 922.6 Million b …
Transparency Market Research notes that innovation and expansion into emerging regions have served these companies well in strengthening their hold in the dental membrane and bone graft substitutes market. For instance, Switzerland-based Geistlich Pharma AG - a global manufacturer and supplier of dental products and devices - expanded its operations in Sydney, Australia and New Delhi, India in 2016.
The global dental membrane and bone graft substitutes market is expected to…
Human Vaccines Market is Estimated to Reach US$ 72.5 Billion by 2024
The global human vaccines market was valued at US$28.3 bn in 2015 and is estimated to reach US$72.5 bn by 2024, registering an 11.2% CAGR during the forecast period.
By age group, pediatric vaccines accounted for a 57.5% share in the global human vaccines market in 2015. Adult vaccines, on the other hand, are expected to expand at a 13.2% CAGR from 2016 to 2024. Based on product, the pneumococcal segment…
More Releases for Asia
South East Asia Business Jet Market And Top Key Players are Asia Corporate Jet, …
By 2022, the South East Asia Business Jet Markets estimated to reach US$ XX Mn, up from US$ XX Mn in 2016, growing at a CAGR of XX% during the forecast period. The Global Business Jet Market, currently at 21 million USD, contributes the highest share in the market and is poised to grow at the fastest rate in the future. The three broad categories of business jets are Small,…
RAMPF Korea – Producing in Asia for Asia
Joint Venture for the Asian markets – The international RAMPF Group has realigned the cooperation with its long-standing partner Orient Dosiertechnik from Korea with the founding of RAMPF Korea Co., Ltd. The new company based in Hwaseong City is developing and producing mixing and dispensing systems specifically for the Asian markets.
Within the framework of the new joint venture based in Hwaseong City, mixing and dispensing systems are being developed and…
LIXIL Asia Presents Asia Pacific Property Awards
Through its power brands GROHE and American Standard, LIXIL Asia signs a three-year deal to become the Headline Sponsor of the Asia Pacific Property Awards from 2019 until 2022.
23rd January 2019: The International Property Awards, first established in 1993, are open to residential and commercial property professionals from around the globe. They celebrate the highest levels of achievement by companies operating within the architecture, interior design, real estate and property…
PEOPLEWAVE WINS ASIA TECH PODCAST PITCHDECK ASIA 2019 AWARDS
15 January 2019, Singapore – Peoplewave, Asia’s leading data-driven HR technology company, won the Asia Tech Podcast (ATP) Pitchdeck Asia 2019 Awards, being awarded “Startup Most Likely to Succeed in 2019".
The 2019 Pitchdeck Asia Awards is an opportunity for the Asian Startup Ecosystem to shine a spotlight on some of its best startups. The awards were decided by a public vote. More than 7,200 votes were cast by registered LinkedIn…
Undersea Defence Technology Asia, UDT Asia 2011
Latest Military Diving Technologies featured in UDT Asia
Equipping Asia’s navies with the latest diving technology for asymmetric warfare and
operations
SINGAPORE, 17 October 2011 - Naval diving and underwater special operations is a field that is
seeing increased attention and investment amongst navies in Asia. Units such as the Indonesian Navy‟s KOPASKA, the Republic of Singapore Navy‟s Naval Diving Unit (NDU), the Royal Malaysian Navy‟s PASKAL are increasingly utilising specialised equipment for conducting…
Asia Diligence – Specialist Investigative Due Diligence for Asia & Beyond
Asia Diligence today announced the opening of its European Customer Services office in the United Kingdom. The office is to be managed by Steve Fowler and will focus on providing services to Asia Diligence’s European customers. Asia Diligence is also planning to open a US office in the near future, which will provide customer service to its US and North American clients.
Asked to comment on the move, Luke Palmer, the…
