Asia & MENA Industrial Refrigeration Market Expected to Reach $16.3 Billion With a CAGR Of 5.3% by 2028

The Asia-Pacific and Middle East & North Africa (MENA) regions are rapidly emerging as significant markets for industrial refrigeration. This is due to the rising demand for processed food and beverage products, as well as the growing demand for temperature-controlled storage and transportation of goods. The industrial refrigeration market in these regions is expected to witness significant growth over the forecast period, driven by increasing investments in food processing facilities, cold storage infrastructure, and commercial refrigeration systems.

According to a recent report published by Allied Market Research, titled, "Asia & MENA Industrial Refrigeration Market by Component, Refrigerant Type, Application, and Type: Global Opportunity Analysis and Industry Forecast, 2021-2028," the Asia & MENA industrial refrigeration market was valued at $9.7 billion in 2020, and is expected to reach $16.3 billion by 2030, registering a CAGR of 5.3% from 2021 to 2030.

The industrial refrigeration market includes revenue generated by sales of industrial refrigerators and its components used in fresh fruits & vegetables; meat, poultry, & fish; dairy & ice cream; beverages; chemicals; pharmaceuticals, and others industries.

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In the Asia-Pacific region, the industrial refrigeration market is expected to be driven by the growth in the food processing industry, as well as the increasing demand for reliable and efficient refrigeration systems in the commercial sector. The growing demand for frozen food, dairy products, and beverages is expected to drive the growth of the industrial refrigeration market in the region. In addition, the increasing demand for temperature-controlled storage and transportation of goods is also expected to propel the market growth.

In the MENA region, the industrial refrigeration market is expected to be driven by the growth in the food processing industry, as well as the increasing demand for energy-efficient and reliable refrigeration systems in the commercial sector. The increasing investments in food processing facilities, cold storage infrastructure, and commercial refrigeration systems are expected to drive the growth of the industrial refrigeration market in the region. In addition, the rising demand for temperature-controlled storage and transportation of goods is also expected to propel the market growth.

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The major players in the Asia-Pacific and MENA industrial refrigeration market are Daikin Industries, Mitsubishi Electric, Panasonic, Carrier Corporation, and Johnson Controls. These companies are focusing on expanding their product portfolio and enhancing their distribution networks to gain a competitive edge in the market.

Overall, the industrial refrigeration market in the Asia-Pacific and MENA regions is expected to witness significant growth over the forecast period, driven by the increasing demand for temperature-controlled storage and transportation of goods. The major players in the market are focusing on expanding their product portfolio and enhancing their distribution networks to gain a competitive edge in the market.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

This release was published on openPR.