SEA FREEZER AND BEVERAGE COOLER MARKET ANALYSIS

Market Challenges And Opportunities

Market Dynamics- Restraints

1. International regulations are expected to restrain growth of the SEA freezer & beverage cooler market during the forecast period

Various international protocols make it mandatory for commercial refrigeration manufacturers to comply with rules set by HCFC. Furthermore, the Environmental Protection Agency (EPA) has implemented the clean air act in an attempt to phase out the class-I chlorofluorocarbon. Implementation of these regulations has a negative impact on local and regional manufacturers across the SEA to establish the business at early stage as the technology to design, develop, and manufacture is expensive. Therefore, these factors are expected to restrain growth of the SEA freezer & beverage cooler market during the forecast period.

2. High switching cost is expected to hamper the SEA freezer & beverage cooler market growth over the forecast period

Many freezer and beverage cooler manufacturers are endorsing the use of energy-efficient products, in order to curb carbon emission and impact of electronic equipment onto environment governments across the region. However, the switching cost involved in upgrading the old commercial refrigeration equipment to new rules complied and energy-efficient equipment is comparatively high. Thus, these factors are expected to hamper the SEA freezer & beverage cooler market growth in the near future.

Market Opportunities

1. Rapid urbanization and tendency for hygienic lifestyle can present lucrative growth opportunities in the SEA freezer & beverage cooler market

Rapid urbanization and advent of BPO and KPO industry across the SEA region have made life more sophisticated and busy for almost every class of society. As such Frozen food and foodservice outlets enable them to fulfill their food requirement. This has led to immense opportunity for global fast food players and commercial refrigeration equipment manufacturers to establish a business in the SEA region. Apart from emerging economies China and India, the SEAn economies have made it to the top 10 leading countries list for industry activity in the outsourcing sector.

2. Growing investment in research development activities can provide major business opportunities in the SEA freezer & beverage cooler market

Many companies in the market are focused on research and development activities, in order to innovate novel products and gain a competitive advantage in the market. For instance, in November 2018, Midea Group introduced Toshiba brand home appliances including refrigerators and water heaters.