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Global Refrigerated Transport Market is Forecasted to be more than US$ 25.43 Billion by the end of year 2027

11-15-2021 07:08 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Renub Research

/ PR Agency: Renub Research
Global Refrigerated Transport Market is Forecasted to be more

Refrigerated transport is a method for shipping temperature-sensitive products in a temperature-controlled environment. The vehicle conveying the products has a built-in refrigeration system, a Transport Refrigeration Unit (TRU), and an insulated body that keeps the food at a set temperature. The set temperatures range from fresh vegetables to +8°C to ice cream at -25°C and range in size from panel vans to 44-tonne trailers. Globally, there are millions of refrigerated vehicles operating. As per Renub Research latest report, the Global Refrigerated Transport Market will be US$ 25.43 Billion by the end of 2027.

In addition, today, refrigerated vehicles are prevalent, mainly powered by diesel. The more petite vehicles (vans and smaller rigid trucks) employ power from the vehicle engine to run the refrigeration system. However, the larger vehicles (larger rigid lorries and articulated trucks pulling a trailer) use an auxiliary motor, typically diesel, with much less strict emissions standards than diesel engines used for vehicle propulsion.

Moreover, refrigeration transportation being one of the most challenging refrigeration applications, require components capable of addressing a range of critical parameters, such as

• wide-ranging and wavering temperatures necessitating excellent response and control.
• harsh environments demanding corrosion resistance,
• constant shocks and vibrations requiring high stability and reliability.
• space constraints required compact components, and fuel efficiency required lightweight component materials.

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Most Widely Used Method Is the Vapor Compression System:

The most common refrigeration system in practice for refrigerated food transport applications now is the vapour compression system. Mechanical cooling with the vapour compression cycle grants a wide range of options for compressor drive methods. The preference may be based on duty demanded, weight, noise specifications, maintenance provisions, installation expense, environmental tolerances and fuel assessment—the performance and power necessities of these arrangements typically imposed at full load. In existence, however, transport refrigeration arrangements operate over a wide range of freight. The refrigeration system may rearranged on and off or capacity modulated to match the load to maintain the set temperature and reduce inefficiency.

Multi-Temperature Refrigerated Trailers:

The industry best practices include a detailed and clearly defined written procedure created by the shipper, outlining the parameters and proper temperature management of multi-temperature trailers. Additionally, while it is generally acceptable to transport chilled and frozen products in the same multi-temperature trailer to meet the environmental conditions, it is not advisable to transport the same multi-temperature trailer's ambient (dry) and refrigerated (chilled or frozen) products. Furthermore, it is recommended that hazardous cargo (i.e. chemicals and cleaning supplies) never ship with edible animal and human food in the same trailer.

Road Transport best mode of transport existing in Global Refrigerated Transport Market:

Road transport refrigeration tools are expected to operate probably in more rigid environments than stationary refrigeration equipment. Due to the voluminous range of operating conditions and constraints imposed by available space and weight, transport refrigeration equipment has lower efficiencies than static systems. This, united with the quickly increasing use of refrigerated transport arising from the much more comprehensive range of transported goods, home delivery and greater quality expectations, is placing considerable pressures on the food industry to reduce the energy consumption of refrigerated transport.

Wide Applications of Refrigerated Transportation:

The fish, meat, and seafood segment have wide applications of refrigerated transportation. The advancing technological developments in the processing, packaging and storage of seafood and the rise in fish production boost the refrigerated carrier's market. However, processed food is expected to be the fastest-growing application segment due to continued packaging materials innovations. Improvements in packaging supplies increase the shelf life of foods has further increased the trading of processed foods for years.

In addition, high product demand in pharmaceuticals is associated with its influence in sustaining the efficiency and fastener of pharmaceuticals. The cold chain in the pharmaceutical market is constrained by strict regulatory measures, such as Goods Distribution Practices (GDP) in the European Union (EU). Further, these regulations are shifting governments worldwide toward standardizing rules globally for better transportation systems for healthcare-related products.

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Furthermore, transforming food habits and escalating disposable income levels are triggering the product demand from the bakery and confectionary segments. Shippers collaborate with third-party logistics to cater to the rising demand and assure that goods are conveyed in optimal provisions on a proper schedule.

Regional Players of Global Refrigerated Transport Market:

The North American region has significant growth opportunities as the companies plan to invest in refrigerated transportation for the long yards. Increasing perception of connected devices and a large consumer base are also expected to fuel market growth in the region. In addition, Asia Pacific is anticipated to be the fastest-growing regional market over the forecasted span owing to progressing government investments for logistics support improvement and diffusion of Warehouse Management Systems (WMS).

China is the principal contributor to the APAC regional market. The market extension in China is accredited to factors such as technological advancements in packaging, processing, and storage of seafood products. Expanding demand and growing cold chain infrastructure development has made China a top market for cold chains. Currently, China is experiencing a rapid shift from development & manufacturing-led conservation to a consumer-led economy. Rising discoveries in the pharmaceutical sector in China are also necessitated to boost the market for cold chain solutions. Another significant factor encouraging the market comprises the rapid augmentation of biopharma in the region. Moreover, the global refrigerated transport market was US$ 16.91 Billion in 2020 and will grow at a CAGR of 6.00 % during 2020-2027.

The Key Performers in the Global Refrigerated Transport Market:

As per our study, the prominent market players have been examined. Some key players are General Mills, Conagra Brands, Kraft Heinz, Associated British Foods plc and Knight-Swift Transportation. These players functioning in the market have initiated several approaches related to the market.

COVID-19 influence on the Global Refrigerated Transport Market:

The COVID-19 pandemic has a meaningful consequence on the refrigerated transport industry. The demand for Refrigerated Transport is experiencing austere wrecks across diverse end-use markets. Global supply strings are disturbed, and the competing rank of operators or producers has testified to a development. The scarcity of demand has fast-tracked the international chilled and frozen food division into an oversupply state. Transportation restraints appear to be a direct and immediate influence, and once the significant social distancing ends, everything would get back to normal status.

Market Summary:

Type - We have covered the Global Refrigerated Transport Market through Chilled and Frozen.

Mode of Transport -This report covers the Road Transport, Sea Transport and Air Transport as modes of transporting the market.

Region -This report studies Global Refrigerated Transport Market of North America, Europe, Asia Pacific, Central & South America and Middle East & Africa.

End Users -We have covered Fruits & Vegetable, Fruit Pulp & Concentrates, Dairy Products, Fish, Meat and Seafood, Processed Food, Pharmaceuticals, Bakery & Confectionary and Others as end users market analysis.

Company -We have studied the company by Company Overview, Recent Development and Revenue of following companies General Mills, Conagra Brands, Kraft Heinz, Associated British Foods plc, Knight-Swift Transportation.

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India Cold Chain Market:

Aerostat Systems Market:

About the Company:

Renub Research is a Market Research and Consulting Company. We have more than 10 years of experience especially in international Business-to-Business Researches, Surveys and Consulting. We provide a wide range of business research solutions that helps companies in making better business decisions. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. Our wide clientele comprises major players in Healthcare, Travel and Tourism, Food & Beverages, Power & Energy, Information Technology, Telecom & Internet, Chemical, Logistics & Automotive, Consumer Goods & Retail, Building, and Construction, & Agriculture. Our core team is comprised of experienced people holding graduate, postgraduate, and Ph.D. degrees in Finance, Marketing, Human Resource, Bio-Technology, Medicine, Information Technology, Environmental Science, and many more. Our research helps to make business decisions: on strategy, organization, operations, technology, mergers & acquisitions etc. We support many blue chip companies by providing them with findings and perspectives across a wide range of markets. Our research reports offer a blend of information insight, analysis, and forecasting that is essential in today's ultra-competitive markets.

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Renub Research
Phone No: +1 678-302-0700 (USA) | +91–120–421–9822 (IND)
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According to the latest report by Renub Research, Global Refrigerated Transport Market is Forecasted to be more than US$ 25.43 Billion by the end of year 2027.

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