APAC Industrial Refrigeration Systems Market Future Prospects

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The expansion of the food and beverages industry in emerging nations and increasing adoption of refrigeration in pharmaceutical and chemical industries are the key factors behind the growth of the Asia-Pacific (APAC) industrial refrigeration system market.

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APAC Industrial Refrigeration Systems Market

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2 Global APAC Industrial Refrigeration Systems Market © PS Intelligence. All rights reserved The expansion of the food and beverages industry in emerging nations and increasing adoption of refrigeration in pharmaceutical and chemical industries are the key factors behind the growth of the Asia-Pacific APAC industrial refrigeration system market. In 2017 the market generated a revenue of 7058.6 million and is predicted to register a CAGR of 7.1 during the forecast period 2018 –2023. The refrigeration components specially used in the chemicals and pharmaceuticals food and beverages and oil and gas sectors are collectively known as industrial refrigeration systems. On the basis of equipment type the industrial refrigeration systems market in APAC is categorized into condensers compressors evaporators and controls. Among these in 2017 the compressors category generated the highest revenue more than 35.0 in the market and would continue to do so during the forecast period. This is ascribed to the fact that compressors are quite expensive as compared to other equipment and the heavy use of industrial refrigerant systems. However the controls category is anticipated to exhibit the fastest growth during 2018 –2023 owing to energy efficiency and customizable features. The APAC industrial refrigeration systems market is divided into CO2 hydrofluorocarbon ammonia and others based on refrigerant type. Although ammonia-based refrigerants are relatively less expensive these contributed the largest revenue in the market as these make the refrigerators more efficient therefore were sold heavily. Hence the rising demand for ammonia-based cascade and CO2 refrigeration system and expanding food and beverages industry are expected to propel the market in a positive direction. Read more related reports: Industrial Refrigeration Systems Market: http://bit.ly/2ZEk4M8 MEA Industrial Refrigeration Systems Market: http://bit.ly/31lRfnS

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3 Global APAC Industrial Refrigeration Systems Market © PS Intelligence. All rights reserved Kindly write to: enquirypsmarketresearch.com B-13 Sector – 2 Noida U.P. – 201301 INDIA Contact No: +91 120 4541 337 US/Canada Toll-Free: 1-888-778-7886 Disclaimer: PS Intelligence always keeps customers interest at the core while carrying out research activities. PS Intelligence ensures the reliability and accuracy of information and data provided in its market research publications. However the information in publications is subject to fluctuations as they are based on primary interviews of officials from various companies or organizations. PS Intelligence is not responsible for any incorrect data provided to us by the key industry players of the concerned domain. The information or analysis in PS Intelligence publications represents opinion based on research and should not be interpreted as statements of fact. The information in this report were believed to be correct at the time of publication but cannot be guaranteed. PS Intelligence does not endorse any product service or vendor depicted in its research publications. All intellectual property including trademarks and copyrights belong to their respective owners and may be protected by copyright. Under no circumstance may these be reproduced in any form without the prior written agreement of its owner. An order for market research report is intended for internal use of the company alone and not for disclosure to third parties or any publication in general. No service report or part thereof provided by PS Intelligence can be reproduced republished resold revealed distributed circulated or sublicensed in any medium or form now realized or hereafter become realized including and not limited to all forms of optical-based media magnetic electronic or digital without a written permission from PS Intelligence.

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