APAC Industrial Refrigeration Systems Market Size, Key Vendors, Growth Rate, Drivers & Volume

The APAC industrial refrigeration systems market forecasted to reach $10,696.1 Million by 2023. The market has been witnessing considerable growth, mainly due to factors such as growing food and beverage processing industry and increasing cold chain market.

Based on equipment type, the APAC industrial refrigeration systems market is categorized into compressors, condensers, evaporators, controls and others (pumps, valves, vessels and auxiliary equipment). The compressor category generated highest market revenue share of over 35% in 2017, as the compressors hold the largest share in the initial cost of the equipment.

There has been a surging demand for CO2/ammonia cascade refrigeration, as this system avoids the weaknesses of each refrigerant and make use of their strengths. One of the advantages of the cascade system is that in a facility with heavy freezer load requirements, CO2 has better efficiency than ammonia.

The industrial refrigeration systems market in India is projected to record the fastest growth in the APAC region. India is the largest producer of milk, second largest producer of fruits and vegetables, and third largest fish producer globally.

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Based on the refrigerant type, the APAC industrial refrigeration systems market has been categorized into ammonia, carbon dioxide (CO2), hydrofluorocarbons (HFC) and others, wherein others include chlorofluorocarbon (CFC), hydrochlorofluorocarbon (HCFC), fluorocarbon (FC), hydrocarbon (HC), Air and Water (H2O).

Some of the major players in the Asia Pacific industrial refrigeration systems market include Johnson Controls International PLC, GEA Group Aktiengesellschaft, Industrial Frigo SRL, Emerson Electric Co., Bitzer Kühlmaschinenbau GmbH, Danfoss A/S, Daikin Industries Ltd, Mayekawa Mfg. Co. Ltd, Dover Corporation, United Technologies Corporation, and Ingersoll-Rand plc.

APAC Industrial Refrigeration Systems Market Segmentation

By Equipment Type

Compressors

Condensers

Evaporators

Controls

Others (pumps, valves, vessels, and auxiliary equipment)

By Application

Food and Beverage

Chemical & Pharmaceutical

Oil and gas

Others (include manufacturing, construction)