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Global Refrigerated Truck Market expected to proliferate by the increased demand for frozen perishable commodities and prevention of pharmaceuticals drugs

08-10-2021 09:14 AM CET | Logistics & Transport

Press release from: Shingetsu Research

The global refrigerated truck market estimated to mounting at an extensive rate during the proposed period 2020-2027. Due to the expansion of food processing and packaged food sectors, and their augmented demand has heightened cold chain transport, which led to robust the refrigerated truck or reefer truck market. Additionally, the flourishing e-commerce industry and retail store business would accelerate the global refrigerated truck market in the upcoming periods.
To reduce costs, increase production, and to facilitate the maintenance, refrigerated trucks will inevitably develop in a standardized and serialized direction. With the construction and development of highways, heavy vehicles and semi-trailers will become the main tools for refrigerated transportation for long-distance and allocated highways are developing rapidly. The light refrigerated and micro-insulated trucks have rapidly adopted as the main tools of short-distance and distributed transportation.
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Moreover, the increasing urbanization, growth of organized retail, food servicing, and food processing sector are boosting the growth of global refrigerated truck in the upcoming periods. Additionally, the surge in demand for the refrigerated truck in the food field, medical and health field, high-precision electronics industry field, chemical industry, fresh-keeping of flowers, and transportation of other items will promulgate the global refrigerated truck. Furthermore, the growing demand for perishable commodities and ease of cross-border movement of perishable goods will trigger the growth of global refrigerated truck in the expected period.

Vehicle Type Overview in the Global Refrigerated Truck Market

Based on vehicle type, the global refrigerated truck market categorized into Light commercial vehicles, Medium-Heavy Commercial Vehicles, and Heavy Commercial Vehicles. Medium-Heavy Commercial Vehicles segment expected to dominate the market during the forecast period, 2020-2027. Owing to the growth in the delivery of perishable food products such as dairy products and pharmaceutical drugs for short-distance transportation and exact estimated time.
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Technology Overview in the Global Refrigerated Truck Market

Based on technology, the Global refrigerated truck market bifurcated into Vapor Compression Systems and Cryogenic Systems. The Vapor Compression Systems segment will lead the market owing to its potential to reduce the overall energy consumption and environmental impacts. The vapor compression refrigeration systems commonly employed in food transport refrigeration.

Application Overview in the Global Refrigerated Truck Market

Based on the application, the global refrigerated truck market classified into foodstuffs, milled grain products, meats products, agriculture products, alcoholic beverages, pharmaceuticals, and others. The foodstuff segment is estimated to occupy a significant share in the market by 2027 on account of the changing consumer preferences and cross-culture diversification for frozen food and chilled foods.

Regional Overview in the Global Refrigerated Truck Market

By geography, the Global refrigerated truck market segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. The Asia Pacific expected to dominate the market by 2027 owing to the rapid industrialization, along with growing demand for fresh vegetable supplies, improvement in infrastructure.
North America will foster by the huge demand for temperature-sensitive products such as dairy, beverages, and meat products.

Global Refrigerated Truck Market: Competitive Landscape

Companies such as Kogel Trailer GmbH & Co, Hyundai Translead Inc., Wabash National Corporation, KRONE, GRW Tankers, and Trailers, Schmitz Cargobull AG, Great Dane LLC, and China International Marine Containers (Group) are the key players in the Global Refrigerated Truck Market.

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Shashank kumar
Head of Business Development
Shingetsu Research | Web: www.shingetsuresearch.com
Direct Line: +1 217 953 4020
Email: sales@shingetsuresearch.com

About Us:
Shingetsu Research and Consulting Pvt. Ltd. is a research, advisory, and analytics company. We have a specialized team of consultants catering to a wide range of verticals, which include Consumer Goods & Retail, Healthcare, ICT, Chemical, BFSI, and many others. In a very short span of time, we have expanded beyond the basic services to advanced research services such as Financial Modelling, Supply & Demand Analysis, Pricing Analysis, Competitive Analysis, and various other services which not only facilitates the senior executives across industries but giants who have established names in different industry verticals. Through our indispensable business insights, we are able to help our clients to achieve the mission-critical tasks which facilitate them to build the organizations of tomorrow.

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