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Refrigerated Trailer Gaskets Market are Likely to Raise Up to US$ 30 Mn by the end of 2025
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High demand for frozen foods and perishable goods is driving the growth of refrigerated trailers and hence trailer gaskets. The global refrigerated trailer gaskets market is expected to reach a market value of over US$ 30 Mn by the end of 2025. The market is expected to witness a CAGR of 3.9% during the forecast period 2017-2025. This growth has encouraged global trade agencies, associations and organizations focusing on investing in the development of supporting infrastructure for cold chain networks and increased skill level of the workforce, thereby promoting international trade for food and beverages, which in turn would create lucrative growth opportunities for players to leverage upon in the global refrigerated trailer gaskets market.
Global Refrigerated Trailer Gaskets Market: Segmental Highlights : Among the various material types that are used to make refrigerated trailer gaskets, EPDM is expected to dominate the global market with growth at a CAGR of 6.5% during the forecast period and the EPDM market expected to reach a valuation of over US$ 20.8 Mn by the end of 2025.
On the basis of design, standard design is expected to lead the market with a higher CAGR and market revenue as compared to custom design during the forecast period. The standard design market registered a valuation of over US$ 12 Mn in 2017, which is forecasted to reach over US$ 20 Mn by the end of 2025.
In terms of configuration, the straight system segment is expected to dominate with a high CAGR and market share during the forecast period. The market analysis indicates that the straight system segment is projected to register a CAGR of 5.4% during the forecast period.Among application areas of refrigerated trailer gaskets i.e, doors and vents, the doors segment comes up as a clear winner with a higher CAGR and estimated market valuation as compared to vents.
The doors segment is expected to witness a CAGR of 5.1% whereas vents is projected to witness 3.9% CAGR during the forecast period.Based on region, North America is anticipated to witness a higher market share as compared to other regional markets, whereas Europe is projected to remain dominant with a higher growth rate during the forecast period.
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Global Refrigerated Trailer Gaskets Market: Competitive Landscape : This research report consists of a brief profile of all the major players in the industry, along with a detailed SWOT analysis. Some of the top companies featured in this report include Conta Flexible Products, Great Dane, Mantaline Corporation, TODCO, Hebei Shida Seal Group Co., Ltd., Stoughton Trailers, LLC, Advanced Plastic Corp, ABCRUBBER INC., Lokhen Pty. Ltd., Fermod Ltd., and Eaget Group Co., Ltd.
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