Refrigerated Trailer Market Size is Expected to Grow with the CAGR of Approximately 4.8% to 2022

Global refrigerated trailer market is expected to reach $7,658 million by 2022, growing at a CAGR of 4.8% to 2022. North America dominated the market and contributed more than 41% of the overall market revenue, followed by Europe. Presence of key market players in the U.S. and Europe, rapid industrialization, primarily in manufacturing sectors, and increase in demand for high-quality preserved food have fueled the growth of refrigerated trailer market. However, high trucking cost is the major restraint of the market.

Refrigerated trailers are innovative and reliable containers that are expected to witness notable growth in the coming years. This is due to their competitive advantages such as ideal temperature and humidity level compared to other batteries. Increasing applications of refrigerated trailers in the frozen & chilled food industry (meat & seafood) is expected to boost in the future.

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Currently, large-scale adoption of refrigerated trailers has been witnessed by meat & seafood and fruits & vegetables segments. Meat & seafood segment has high rate of adoption due to increase in the consumption of readymade and fast food. Price is the most significant factor affecting the overall adoption of these trailers. High cost of these trailers used to transport frozen & chilled food limits its widespread adoption in different cold chain areas and package food transport. In addition, energy-efficient solutions, such as low power consumption trailers, are projected to fuel the market growth.

Refrigerated trailer market is expected to grow significantly in Asia-Pacific, owing to an increase in tourism, high food demand, increase in cold chain capacity business, and growth in frozen food sector in China and India. In addition, these countries occupied highest market share in the Asia-Pacific region, followed by Japan. Moreover, the demand for these trailers is anticipated to grow in countries, such as Australia, South Asia and Japan, which is anticipated to boost its adoption among different food end-use verticals.

North America is expected to dominate the global refrigerated trailer market during the analysis period, owing to the increase in demand for packaged food products in the U.S. and Canada. Refrigerated trailers are extensively used in the food sector in North America and Europe. However, Asia-Pacific and LAMEA regions are expected to grow rapidly, owing to the increasing adoption of these trailers in frozen food, chilled food, and cold chain space.

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Key Findings of the Refrigerated Trailer Market
• The chilled food segment led the overall market revenue in 2015, and is projected to grow at a CAGR of 4.50%.
• Fruits & vegetables segment is expected to exhibit rapid growth during the forecast period.
• In 2015, North America led the global market; however, Asia-Pacific is expected to witness the highest CAGR.
• In 2015, China led the overall Asia-Pacific market, with about one-third share.
Key players adopted acquisition and product launch as their prominent strategies to expand their business operations in emerging countries. The major players profiled in this report include Wabash National Commercial Trailer Product, Great Dane Trailers, Inc., Utility Trailer Manufacturing Company, Schmitz Cargobull AG., Kogel Trailer GmbH & Co. KG, Fahrzeugwerk Bernard KRONE GmbH, Lamberet Refrigerated SAS, Montracon Ltd., Gray & Adams Ltd., and Randon Implementos.

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