Asia-Pacific Industrial Refrigeration Systems Market by Equipment Type, by Refrigerant Type, by Application, by Country - Market Size, Share, Development, Growth and Demand Forecast, 2013-2023

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. However, owing to increasing significance of controls in the coming years, which enables improvement of efficiency and functionality of the whole industrial refrigeration system, the controls category is projected to grow fastest, during the forecast period.

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). The ammonia-based industrial refrigeration units recorded the highest market share of about 40% in 2017. As the region edges closer to phasing out of HFC, owing to its high ozone depletion potential (ODP) and a global warming potential (GWP), several companies are currently considering ammonia as a viable alternative, which is relatively cheaper as well as highly efficient.

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. Dairy being one of the most intricate and diverse sectors, it requires refrigeration in the production and storage of products such as milk, cheese and butter. Furthermore, the food processing industry is getting considerable government support, for instance, during the 11th and 12th five-year plan, the government of India sanctioned 40 mega food park projects. The growing food processing industry in countries like India would support the market growth in the coming years.

Growing food and beverage processing industry in developing countries such as India and China, is one of the key drivers supporting APAC industrial refrigeration systems market growth. The processed and ready-to-eat food is now being consumed in majority of APAC countries. The food processing rate in developing countries is however quite low. China processes 40% of its food produce. While, India’s food processing industry ranks fifth in the world in terms of exports of processed foods. Moreover, considerable government support with ambitious ‘Make in India’ initiative is further supporting the food processing industry in the country.

Also, cold chain infrastructure garnered a lot of attention owing to the growing meat and pharmaceutical industries. Cold chain is a series of refrigerated storage, production and distribution activities, along with the associated logistics and equipment, to maintain a desired low temperature range. It is used to preserve seafood, agricultural products, frozen food, and pharmaceutical drugs. These products require a low temperature range for transportation and distribution from production to consumer end. The demand for meat, seafood and bio-pharmaceuticals are supporting growth of cold chain industry, which in turn is boosting the demand for industrial refrigeration systems in APAC.

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. Another advantage of this system is that all portions of the system are under positive pressure, which negates the need for an air purging sub-system found on ammonia installations with freezers and refrigeration pressures that run under vacuum pressure. The rising demand for cascade system is expected to pose lucrative opportunity for market players.

The APAC industrial refrigeration systems market is highly competitive. The market is consolidated with top five companies accounting for over 60% of the total market in 2017.

Some of the major players in the APAC 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.

Chapter 1. Research Background

1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.3.1 Market Segmentation by Equipment Type
1.3.2 Market Segmentation by Refrigerant Type
1.3.3 Market Segmentation by Application
1.3.4 Market Segmentation by Geography
1.3.5 Analysis Period
1.3.6 Market Data Reporting Unit
1.3.6.1 Value
1.3.6.2 Volume
1.4 Key Stakeholders

Chapter 2. Research Methodology

2.1 Secondary Research
2.2 Primary Research
2.2.1 Breakdown of Primary Research Respondents
2.2.1.1 By region
2.2.1.2 By industry participant
2.2.1.3 By company type
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions for the Study

Chapter 3. Executive Summary

Chapter 4. Introduction

4.1 Definition of Market Segments
4.1.1 By Equipment Type
4.1.1.1 Compressors
4.1.1.2 Condensers
4.1.1.3 Evaporators
4.1.1.4 Controls
4.1.1.5 Others
4.1.2 By Refrigerant Type
4.1.2.1 Ammonia
4.1.2.2 Carbon dioxide (CO2)
4.1.2.3 Hydrofluorocarbon (HFC)
4.1.2.4 Others
4.1.3 By Application
4.1.3.1 Food & Beverages
4.1.3.2 Chemicals & Pharmaceuticals
4.1.3.3 Oil & Gas
4.1.3.4 Others
4.2 Market Dynamics
4.2.1 Trends
4.2.1.1 Moving towards environment friendly refrigerants
4.2.1.2 Rising concerns toward health and safety
4.2.1.3 Increasing use of screw compressors
4.2.2 Drivers
4.2.2.1 Growing food processing industry in developing countries
4.2.2.2 Increasing demand from beverage industry
4.2.2.3 Strengthening of the cold chain infrastructure in developing countries
4.2.2.4 Increasing use of refrigeration in chemicals and pharmaceuticals industries
4.2.2.5 Impact analysis of drivers on market forecast
4.2.3 Restraints
4.2.3.1 Fragmented supply chain of food & beverage processing industry in developing countries
4.2.3.2 High energy consumption and maintenance cost
4.2.3.3 Impact analysis of restraints on market forecast
4.2.4 Opportunities
4.2.4.1 Demand for carbon dioxide/ammonia cascade refrigeration systems
4.3 Porter’s Five Forces Analysis

Chapter 5. Asia-Pacific Market Size and Forecast

5.1 By Equipment Type
5.2 By Refrigerant Type
5.3 By Application
5.4 By Country

Chapter 6. India Market Size and Forecast

6.1 By Equipment Type
6.2 By Refrigerant Type
6.3 By Application

Chapter 7. China Market Size and Forecast

7.1 By Equipment Type
7.2 By Refrigerant Type
7.3 By Application

Chapter 8. Japan Market Size and Forecast

8.1 By Equipment Type
8.2 By Refrigerant Type
8.3 By Application

Chapter 9. Rest of APAC Market Size and Forecast

9.1 By Equipment Type
9.2 By Refrigerant Type
9.3 By Application

Chapter 10. Competitive Landscape

10.1 Market Share Analysis of Key Players
10.2 Competitive Benchmarking of Key Players
10.3 Global Strategic Developments of Key Players
10.3.1 Mergers and Acquisitions
10.3.2 Product Launches
10.3.3 Geographic Expansions

Chapter 11. Company Profiles

11.1 Ingersoll-Rand plc
11.1.1 Business Overview
11.1.2 Product and Service Offerings
11.1.3 Key Financial Summary
11.2 United Technologies Corporation
11.2.1 Business Overview
11.2.2 Product and Service Offerings
11.2.3 Key Financial Summary
11.3 Dover Corporation
11.3.1 Business Overview
11.3.2 Product and Service Offerings
11.3.3 Key Financial Summary
11.4 Daikin Industries Ltd.
11.4.1 Business Overview
11.4.2 Product and Service Offerings
11.4.3 Key Financial Summary
11.5 Johnson Controls International plc
11.5.1 Business Overview
11.5.2 Product and Service Offerings
11.5.3 Key Financial Summary
11.6 GEA Group Aktiengesellschaft
11.6.1 Business Overview
11.6.2 Product and Service Offerings
11.6.3 Key Financial Summary
11.7 Danfoss A/S
11.7.1 Business Overview
11.7.2 Product and Service Offerings
11.7.3 Key Financial Summary
11.8 Emerson Electric Co.
11.8.1 Business Overview
11.8.2 Product and Service Offerings
11.8.3 Key Financial Summary
11.9 Industrial Frigo SRL.
11.9.1 Business Overview
11.9.2 Product and Service Offerings
11.10 BITZER Kühlmaschinenbau GmbH
11.10.1 Business Overview
11.10.2 Product and Service Offerings
11.11 Mayekawa Mfg. Co. Ltd.
11.11.1 Business Overview
11.11.2 Product and Service Offerings

Chapter 12. Appendix

12.1 Abbreviations
12.2 Sources and References
12.3 Related Reports

List of Tables

TABLE 1 ANALYSIS PERIOD OF THE STUDY
TABLE 2 DRIVERS FOR THE MARKET: IMPACT ANALYSIS
TABLE 3 RESTRAINTS FOR THE MARKET: IMPACT ANALYSIS
TABLE 4 APAC INDUSTRIAL REFRIGERATION MARKET, BY EQUIPMENT TYPE, $M (2013 - 2017)
TABLE 5 APAC INDUSTRIAL REFRIGERATION MARKET, BY EQUIPMENT TYPE, $M (2018 - 2023)
TABLE 6 APAC INDUSTRIAL REFRIGERATION MARKET, BY REFRIGERANT TYPE, $M (2013 - 2017)
TABLE 7 APAC INDUSTRIAL REFRIGERATION MARKET, BY REFRIGERANT TYPE, $M (2018 - 2023)
TABLE 8 APAC INDUSTRIAL REFRIGERATION MARKET, BY REFRIGERANT TYPE, ‘000 UNITS (2013 - 2017)
TABLE 9 APAC INDUSTRIAL REFRIGERATION MARKET, BY REFRIGERANT TYPE, ‘000 UNITS (2018 - 2023)
TABLE 10 APAC INDUSTRIAL REFRIGERATION MARKET, BY APPLICATION, $M (2013 - 2017)
TABLE 11 APAC INDUSTRIAL REFRIGERATION MARKET, BY APPLICATION, $M (2018 - 2023)
TABLE 12 APAC INDUSTRIAL REFRIGERATION MARKET, BY APPLICATION, ‘000 UNITS (2013 - 2017)
TABLE 13 APAC INDUSTRIAL REFRIGERATION MARKET, BY APPLICATION, ‘000 UNITS (2018 - 2023)
TABLE 14 APAC INDUSTRIAL REFRIGERATION MARKET, BY COUNTRY, $M (2013 - 2017)
TABLE 15 APAC INDUSTRIAL REFRIGERATION MARKET, BY COUNTRY, $M (2018 - 2023)
TABLE 16 APAC INDUSTRIAL REFRIGERATION MARKET, BY COUNTRY, ‘000 UNITS (2013 - 2017)
TABLE 17 APAC INDUSTRIAL REFRIGERATION MARKET, BY COUNTRY, ‘000 UNITS (2018 - 2023)
TABLE 18 INDIA INDUSTRIAL REFRIGERATION MARKET, BY EQUIPMENT TYPE, $M (2013 - 2017)
TABLE 19 INDIA INDUSTRIAL REFRIGERATION MARKET, BY EQUIPMENT TYPE, $M (2018 - 2023)
TABLE 20 INDIA INDUSTRIAL REFRIGERATION MARKET, BY REFRIGERANT TYPE, $M (2013 - 2017)
TABLE 21 INDIA INDUSTRIAL REFRIGERATION MARKET, BY REFRIGERANT TYPE, $M (2018 - 2023)
TABLE 22 INDIA INDUSTRIAL REFRIGERATION MARKET, BY REFRIGERANT TYPE, 000 UNITS (2013 - 2017)
TABLE 23 INDIA INDUSTRIAL REFRIGERATION MARKET, BY REFRIGERANT TYPE, 000 UNITS (2018 - 2023)
TABLE 24 INDIA INDUSTRIAL REFRIGERATION MARKET, BY APPLICATION, $M (2013 - 2017)
TABLE 25 INDIA INDUSTRIAL REFRIGERATION MARKET, BY APPLICATION, $M (2018 - 2023)
TABLE 26 INDIA INDUSTRIAL REFRIGERATION MARKET, BY APPLICATION, ‘000 UNITS (2013 - 2017)
TABLE 27 INDIA INDUSTRIAL REFRIGERATION MARKET, BY APPLICATION, ‘000 UNITS (2018 - 2023)
TABLE 28 CHINA INDUSTRIAL REFRIGERATION MARKET, BY EQUIPMENT TYPE, $M (2013 - 2017)
TABLE 29 CHINA INDUSTRIAL REFRIGERATION MARKET, BY EQUIPMENT TYPE, $M (2018 - 2023)
TABLE 30 CHINA INDUSTRIAL REFRIGERATION MARKET, BY REFRIGERANT TYPE, $M (2013 - 2017)
TABLE 31 CHINA INDUSTRIAL REFRIGERATION MARKET, BY REFRIGERANT TYPE, $M (2018 - 2023)
TABLE 32 CHINA INDUSTRIAL REFRIGERATION MARKET, BY REFRIGERANT TYPE, ‘000 UNITS (2013 - 2017)
TABLE 33 CHINA INDUSTRIAL REFRIGERATION MARKET, BY REFRIGERANT TYPE, ‘000 UNITS (2018 - 2023)
TABLE 34 CHINA INDUSTRIAL REFRIGERATION MARKET, BY APPLICATION, $M (2013 - 2017)
TABLE 35 CHINA INDUSTRIAL REFRIGERATION MARKET, BY APPLICATION, $M (2018 - 2023)
TABLE 36 CHINA INDUSTRIAL REFRIGERATION MARKET, BY APPLICATION, ‘000 UNITS (2013 - 2017)
TABLE 37 CHINA INDUSTRIAL REFRIGERATION MARKET, BY APPLICATION, ‘000 UNITS (2018 - 2023)
TABLE 38 JAPAN INDUSTRIAL REFRIGERATION MARKET, BY EQUIPMENT TYPE, $M (2013 - 2017)
TABLE 39 JAPAN INDUSTRIAL REFRIGERATION MARKET, BY EQUIPMENT TYPE, $M (2018 - 2023)
TABLE 40 JAPAN INDUSTRIAL REFRIGERATION MARKET, BY REFRIGERANT TYPE, $M (2013 - 2017)
TABLE 41 JAPAN INDUSTRIAL REFRIGERATION MARKET, BY REFRIGERANT TYPE, $M (2018 - 2023)
TABLE 42 JAPAN INDUSTRIAL REFRIGERATION MARKET, BY REFRIGERANT TYPE, ‘000 UNITS (2013 - 2017)
TABLE 43 JAPAN INDUSTRIAL REFRIGERATION MARKET, BY REFRIGERANT TYPE, ‘000 UNITS (2018 - 2023)
TABLE 44 JAPAN INDUSTRIAL REFRIGERATION MARKET, BY APPLICATION, $M (2013 - 2017)
TABLE 45 JAPAN INDUSTRIAL REFRIGERATION MARKET, BY APPLICATION, $M (2018 - 2023)
TABLE 46 JAPAN INDUSTRIAL REFRIGERATION MARKET, BY APPLICATION, ‘000 UNITS (2013 - 2017)
TABLE 47 JAPAN INDUSTRIAL REFRIGERATION MARKET, BY APPLICATION, ‘000 UNITS (2018 - 2023)
TABLE 48 REST OF APAC INDUSTRIAL REFRIGERATION MARKET, BY EQUIPMENT TYPE, $M (2013 - 2017)
TABLE 49 REST OF APAC INDUSTRIAL REFRIGERATION MARKET, BY EQUIPMENT TYPE, $M (2018 - 2023)
TABLE 50 REST OF APAC INDUSTRIAL REFRIGERATION MARKET, BY REFRIGERANT TYPE, $M (2013 - 2017)
TABLE 51 REST OF APAC INDUSTRIAL REFRIGERATION MARKET, BY REFRIGERANT TYPE, $M (2018 - 2023)
TABLE 52 REST OF APAC INDUSTRIAL REFRIGERATION MARKET, BY REFRIGERANT TYPE, ‘000 UNITS (2013 - 2017)
TABLE 53 REST OF APAC INDUSTRIAL REFRIGERATION MARKET, BY REFRIGERANT TYPE, ‘000 UNITS (2018 - 2023)
TABLE 54 REST OF APAC INDUSTRIAL REFRIGERATION MARKET, BY APPLICATION, $M (2013 - 2017)
TABLE 55 REST OF APAC INDUSTRIAL REFRIGERATION MARKET, BY APPLICATION, $M (2018 - 2023)
TABLE 56 REST OF APAC INDUSTRIAL REFRIGERATION MARKET, BY APPLICATION, ‘000 UNITS (2013 - 2017)
TABLE 57 REST OF APAC INDUSTRIAL REFRIGERATION APPLICATION, ‘000 UNITS (2018 - 2023)
TABLE 58 INGERSOLL-RAND PLC- AT A GLANCE
TABLE 59 INGERSOLL-RAND PLC - KEY FINANCIAL SUMMARY
TABLE 60 UNITED TECHNOLOGIES CORPORATION - AT A GLANCE
TABLE 61 UNITED TECHNOLOGIES CORPORATION - KEY FINANCIAL SUMMARY
TABLE 62 DOVER CORPORATION - AT A GLANCE
TABLE 63 DOVER CORPORATION - KEY FINANCIAL SUMMARY
TABLE 64 DAIKIN INDUSTRIES LTD. - AT A GLANCE
TABLE 65 DAIKIN INDUSTRIES LTD. - KEY FINANCIAL SUMMARY
TABLE 66 JOHNSON CONTROLS INTERNATIONAL PLC. - AT A GLANCE
TABLE 67 JOHNSON CONTROLS INTERNATIONAL PLC.- KEY FINANCIAL SUMMARY
TABLE 68 GEA GROUP AKTIENGESELLSCHAFT - AT A GLANCE
TABLE 69 GEA GROUP AKTIENGESELLSCHAFT- KEY FINANCIAL SUMMARY
TABLE 70 DANFOSS A/S - AT A GLANCE
TABLE 71 DANFOSS A/S - KEY FINANCIAL SUMMARY
TABLE 72 EMERSON ELECTRIC CO. - AT A GLANCE
TABLE 73 EMERSON ELECTRIC CO.- KEY FINANCIAL SUMMARY
TABLE 74 INDUSTRIAL FRIGO SRL - AT A GLANCE
TABLE 75 BITZER KÜHLMASCHINENBAU GMBH - AT A GLANCE
TABLE 76 MAYEAWA MFG. CO. LTD. - AT A GLANCE

List of Figures

FIG 1 RESEARCH SCOPE
FIG 2 RESEARCH METHODOLOGY
FIG 3 COUNTRY SPLIT OF PRIMARY AND SECONDARY RESEARCH
FIG 4 BREAKDOWN OF PRIMARY RESEARCH BY COUNTRY
FIG 5 BREAKDOWN OF PRIMARY RESEARCH BY INDUSTRY PARTICIPANT
FIG 6 BREAKDOWN OF PRIMARY RESEARCH BY COMPANY TYPE
FIG 7 DATA TRIANGULATION APPROACH
FIG 8 APAC INDUSTRIAL REFRIGERATION MARKET SUMMARY
FIG 9 BARGAINING POWER OF BUYERS
FIG 10 BARGAINING POWER OF SUPPLIERS
FIG 11 INTENSITY OF RIVALRY
FIG 12 THREAT OF NEW ENTRANTS
FIG 13 AVAILABILITY OF SUBSTITUTES
FIG 14 APAC INDUSTRIAL REFRIGERATION MARKET SNAPSHOT
FIG 15 APAC INDUSTRIAL REFRIGERATION MARKET, BY EQUIPMENT TYPE, $M (2013 - 2023)
FIG 16 APAC INDUSTRIAL REFRIGERATION MARKET, BY REFRIGERANT TYPE, $M (2013 - 2023)
FIG 17 APAC INDUSTRIAL REFRIGERATION MARKET, BY APPLICATION, $M (2013 - 2023)
FIG 18 APAC INDUSTRIAL REFRIGERATION MARKET, BY COUNTRY, $M (2013 - 2023)
FIG 19 INDIA INDUSTRIAL REFRIGERATION MARKET SNAPSHOT
FIG 20 INDIA INDUSTRIAL REFRIGERATION MARKET, BY EQUIPMENT TYPE, $M (2013 - 2023)
FIG 21 INDIA INDUSTRIAL REFRIGERATION MARKET, BY REFRIGERANT TYPE, $M (2013 - 2023)
FIG 22 INDIA INDUSTRIAL REFRIGERATION MARKET, BY APPLICATION, $M (2013 - 2023)
FIG 23 CHINA INDUSTRIAL REFRIGERATION MARKET SNAPSHOT
FIG 24 CHINA INDUSTRIAL REFRIGERATION MARKET, BY EQUIPMENT TYPE, $M (2013 - 2023)
FIG 25 CHINA INDUSTRIAL REFRIGERATION MARKET, BY REFRIGERANT TYPE, $M (2013 - 2023)
FIG 26 CHINA INDUSTRIAL REFRIGERATION MARKET, BY APPLICATION, $M (2013 - 2023)
FIG 27 JAPAN INDUSTRIAL REFRIGERATION MARKET SNAPSHOT
FIG 28 JAPAN INDUSTRIAL REFRIGERATION MARKET, BY EQUIPMENT TYPE, $M (2013 - 2023)
FIG 29 JAPAN INDUSTRIAL REFRIGERATION MARKET, BY REFRIGERANT TYPE, $M (2013 - 2023)
FIG 30 JAPAN INDUSTRIAL REFRIGERATION MARKET, BY APPLICATION, $M (2013 - 2023)
FIG 31 REST OF APAC INDUSTRIAL REFRIGERATION MARKET SNAPSHOT
FIG 32 REST OF APAC INDUSTRIAL REFRIGERATION MARKET, BY EQUIPMENT TYPE, $M (2013 - 2023)
FIG 33 REST OF APAC INDUSTRIAL REFRIGERATION MARKET, BY REFRIGERANT TYPE, $M (2013 - 2023)
FIG 34 REST OF APAC INDUSTRIAL REFRIGERATION MARKET, BY APPLICATION, $M (2013 - 2023)
FIG 35 APAC INDUSTRIAL REFRIGERATION MARKET SHARE OF KEY PLAYERS (2017)
FIG 36 INGERSOLL-RAND PLC - REVENUE SPLIT BY GEOGRAPHY AND SEGMENT (2017)
FIG 37 UNITED TECHNOLOGIES CORPORATION - REVENUE SPLIT BY GEOGRAPHY AND SEGMENT (2017)
FIG 38 DOVER CORPORATION - REVENUE SPLIT BY GEOGRAPHY AND SEGMENT (2017)
FIG 39 DAIKIN INDUSTRIES LTD. - REVENUE SPLIT BY GEOGRAPHY AND SEGMENT (2017)
FIG 40 JOHNSON CONTROLS INTERNATIONAL PLC. - REVENUE SPLIT BY GEOGRAPHY AND SEGMENT (2017)
FIG 41 GEA GROUP AKTIENGESELLSCHAFT. - REVENUE SPLIT BY GEOGRAPHY AND SEGMENT (2017)
FIG 42 DANFOSS A/S - REVENUE SPLIT BY GEOGRAPHY AND SEGMENT (2017)
FIG 43 EMERSON ELECTRIC CO - REVENUE SPLIT BY GEOGRAPHY AND SEGMENT (2017)