The ‘Global Refrigerated Transport Market Share, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global refrigerated transport market, assessing the market on the basis of its segments like mode of transportation, technology, temperature, applications, and major regions.
Refrigerated Transport Market Size, Share, Trends, Industry Report, Key Players, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 5.7%
|Market Size in 2020||USD 15.3 billion|
|Revenue Forecast in 2020||USD 21.1 billion|
|Growth Rate CAGR||5.7%|
|Major Players||C.H. Robinson Worldwide, Inc, Carrier, Daikin Europe N.V, DB Schenker,
Trane Technologies and others.
The global refrigerated transport market is expected to register growth during the forecast period on account of the growing demand for healthy and fresh foods by consumers. The production of numerous products requiring refrigerated transport is generating a demand for the use of these transport vehicles across the globe. Such trucks are also significant for economic growth.
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The refrigerated transport trucks have a highly significant function of transporting different items to corners and nooks across the globe. Companies and local governments find it exceptionally advantageous to utilise such refrigerated transports as they aid in offering better preservation of freshness of the items delivered.
Products in the refrigerated vans or trucks can be monitored and the temperature can be set as per the requirement. They also offer ease of delivery to end user locations. These aspects are likely to aid the market growth of refrigerated transport across the globe.
With the rising food and beverage industry and surging international trade, the refrigerated transport market is expected to propel over the coming years. There is high demand for refrigerated transport as without it there is likely to be a huge loss to the food industry because the food products may lose quality and freshness before reaching the end user.
Refrigerated Transport Industry Definition and Major Segments
Refrigerated transport is the method of moving shipments through specifically constructed temperature-controlled trucks. Further, the transporting trucks have a refrigeration system built-in that maintains the shipments at a controlled temperature all throughout the shipping journey.
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Based on mode of transportation, the market is segmented into:
- Refrigerated Road Transport
- Refrigerated Sea Transport
- Refrigerated Rail Transport
- Refrigerated Air Transport
By technology, the market is classified into:
- Vapour Compression Systems
- Air-Blown Evaporators
- Eutectic Devices
- Cryogenic Systems
Based on temperature, the market is segmented into:
By application, the market is classified into:
- Chilled Food Products
- Dairy Products
- Bakery and Confectionery Products
- Fresh Fruits and Vegetables
- Frozen Food Products
- Frozen Dairy Products
- Processed Meat Products
- Fish and Seafood Products
Based on region, the market is divided into:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
Refrigerated Transport Market Trends
Products that are ready to consume and manufactured at locations that are far away from the place of consumption are driving the demand for refrigerated transport. The usage of refrigerated transport helps in decreasing wastage which is exceptionally environmentally friendly. Due to such vehicles, products are likely to remain fresh over longer periods of time which is further encouraging manufacturers to use these vehicles.
Geographically, the Asia Pacific is anticipated to gain momentum over the coming years in the refrigerated transport market growth. This is on account of the growing construction projects by governments for transport infrastructure development in the region.
Rapid urbanisation along with industrialisation and the rising population in the region is likely to fuel the refrigerated transport market growth in the Asia Pacific. With the rising disposable income and the increase in the adoption of e-commerce across the food industry, the market growth for refrigerated transport is expected to increase across the region.
Key Market Players
The major players in the global refrigerated transport market report are C.H. Robinson Worldwide, Inc, Carrier, Daikin Europe N.V., DB Schenker, and Trane Technologies, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
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