The Asia Pacific Centralized Refrigeration Systems Market would witness market growth of 5.6% CAGR during the forecast period (2023-2030). In the year 2021, the Asia Pacific market's volume surged to 12,82,193 Units showcasing a growth of 5.4% (2019-2022).
Food loss and wastage are primarily caused by ineffective cold chain infrastructure. Due to issues such as improper handling, insufficient infrastructure, insufficient access to cold chains, lack of energy resources to operate these cold chain facilities, etc., the shelf life of fruits, vegetables, fish, and dairy products is significantly reduced. Many developing countries have started deploying advanced refrigeration systems throughout cold storage and cold chain infrastructure to maintain the temperature-controlled transit and storage of perishable food products, chemicals, beverages, medicines, and pharmaceuticals. This is fuelling the expansion of the market.
As refrigerants, ammonia and carbon dioxide are easy to utilize, inexpensive, and widely accessible. Low-temperature applications that require a product between -30° C and -50° C are suitable for carbon dioxide/ammonia-based cascade refrigeration systems, which are utilized in low-temperature applications. For applications including process plate freezers, spiral freezers, refrigerated warehouses, and blast freezers, these systems have a range of capacities between 25 and 1,500 tons. Such systems are best adapted for applications where the difference between the heat rejection and refrigeration temperatures is so significant that no single refrigerant with suitable properties can be found. Ammonia and CO2 refrigerants are employed in high-temperature and low-temperature circuits, respectively, in CO2/NH3-based cascade refrigeration systems.
The food retail industry in Singapore is highly developed and competitive. The sector includes supermarkets, hypermarkets, convenience stores, and "mom-and-pop" conventional stores. The Asia Pacific region is witnessing a substantial transformation in centralized refrigeration systems driven by the need for energy efficiency, environmental sustainability, and the growing demand for refrigeration and HVAC solutions. These technological advancements are expected to evolve as the region strives to address energy and environmental challenges while supporting economic growth.
The China market dominated the Asia Pacific Centralized Refrigeration Systems Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $4,682.1 million by 2030. The Japan market is registering a CAGR of 4.9% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 6.2% during (2023 - 2030).
Based on End-user, the market is segmented into Industrial (Refrigerated Warehouse, Food Processing, Healthcare, and Others), and Commercial (Hotel, Restaurant, & Catering, and Retail). Based on Refrigerant, the market is segmented into Ammonia, Carbon dioxide, F-Gas, and Others. Based on Component, the market is segmented into Condensers, Compressors, Controls, Evaporators, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Global Centralized Refrigeration Systems Market is Predict to reach $43.6 Billion by 2030, at a CAGR of 5.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include The Danfoss Group, Daikin Industries Ltd., Evapco, Inc., Carrier Global Corporation, GEA Group AG, Emerson Electric Co., Bitzer SE, Johnson Controls International PLC, Frigo Group and LU-VE S.p.A. (Finami S.R.L.)
By End-user (Volume, Units, USD Million, 2019-2030)
By Refrigerant (Volume, Units, USD Million, 2019-2030)
By Component
By Country (Volume, Units, USD Million, 2019-2030)
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