Press release
Road Transport Refrigeration Equipment Market Trends, Market Share, Industry Size, Opportunities, Analysis And Forecast 2021 To 2028
Road Transport Refrigeration Equipment Market 2021-2028
New study report " Road Transport Refrigeration Equipment Market 2021 Global Market Opportunities, Challenges, Strategies, and Forecasts 2028" has been added to Fortune Business Insights.
Market Overview-
The global road transport refrigeration equipment market size is expected to reach USD 4.73 billion by 2027, exhibiting a CAGR of 3.9% during the forecast period. The growing demand for frozen fruits and vegetables is expected to spur opportunities for the market, states Fortune Business Insights, in a report, titled “Road Transport Refrigeration Equipment Market Size, Share & COVID-19 Impact Analysis, By Install Vehicle (Van & Light Truck, Heavy Truck, Trailer), By Mode of Operation (Single Temperature, Multi-Temperature), By Power Source (Vehicle Powered, Self-Powered), By Application (Food and Beverage Products, Pharmaceutical and Other Healthcare Products, Floral Products) and Regional Forecast, 2020-2027.” The market size stood at USD 3.49 billion in 2019.
Key Players-
The key players have an essential part to play in fostering the product improvement as per the demand of the consumers with ample supply in particular regions. The well-known brands are also acknowledged and aware of the potential links with the global Road Transport Refrigeration Equipment Market 2021-2028 for showing a prominent place to the key players in the market.
Top Key Players in this market are:
Carrier Transicold (U.S.)
A.H. Refrigeration (U.K.)
Chereau SAS (France)
Hwasung Thermo Co. Ltd. (Korea)
Carrier (U.S.)
Great Dane (A Division of Great Dane LLC) (U.S.)
Mitsubishi Heavy Industries Thermal Systems Ltd. (Japan)
Ingersoll-Rand (Thermo King Corporation & FrigoBlock Grosskopf GmbH) (U.S.)
Zanotti S.p.A. (Daikin Europe N.V.) (Italy)
Songz Automobile Air Conditioning Co., Ltd. (China)
Kingtec Group Company Limited (Denso) (U.S.)
Subros Ltd. (India)
Zhengzhou Corun Tech Co., Ltd. (China)
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Market Driver:
Emphasis on Cross-continent Highway Network by Governments to Aid Market Expansion
The governments of several countries are focused on the construction of cross-continent, cross-country, and cross-regional highways, thus enabling smooth transportation of goods and products in areas. The increasing road connectivity around the world will improve the prospects of the market in the forthcoming years. Besides, the rising infrastructure development and highway construction as part of government initiatives in developing nations will enable speedy expansion of the market. For instance, the government of India allocated USD 100 billion for its infrastructure in budget 2018 – 2019, wherein the government has planned to invest USD 22.4 billion towards road infrastructure in the North-East region of India. In addition, the ongoing product enhancement and advancement by OEMs will promote the growth of the market.
Disrupted Transportation Industry to Dampen Market Amid COVID-19
COVID-19 pandemic has posed enormous pressure on transport and logistics. The refrigeration industry suffered a massive loss in the time of coronavirus. The restriction on road transport has limited the supply of food products mainly meat and dairy products transported through refrigerated containers, thus impeding the market growth. According to the Organization for Economic Co-operation and Development (OECD), transportation witnessed an 8% downfall because of restrictions including, mandatory quarantines, additional screening, and diminished supply and demand. Hence, resulting in a substantial decline in transport refrigeration during the COVID-19 epidemic.
Regional Analysis:
Rising Investments to Augment Growth in North America
The market in North America is expected to hold the highest market share owing to the increasing demand for processed foods. The growing investments for the expansion of the cold supply chain across the U.S. and Canada will boost growth in the region. The growing emphasis on truck refrigeration networks by major companies will enable speedy expansion of the market in North America. The market in Asia Pacific is expected to hold a significant share during the forecast period owing to the expanding cold chain industry in the region. The surging warehousing and transportation sector will contribute positively to the market growth. Moreover, increasing government support & initiatives for road transportation will create opportunities for the market in the region. Additionally, the rising popularity of frozen food in India and China will aid development in Asia Pacific.
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The report on road transport refrigeration equipment market incorporates:
Vital facts and figures
Comprehensive analysis of the market
All-encompassing information about industry players
Latest industry trends
Notable industry development
COVID-19 effect on the market
Table of Content:
1.Introduction
2.Executive Summary
3.Market Dynamics
4.Competition Landscape
5.Key Road Transport Refrigeration Equipment Market Insights and Analysis, By Segments
6.Global Road Transport Refrigeration Equipment Market Analysis, Insights and Forecast (Quantitative Data), By Segments, 2016-2027
7.North America Road Transport Refrigeration Equipment Market Analysis, Insights and Forecast (Quantitative Data), By Segments, 2016-2027
8.Europe Road Transport Refrigeration Equipment Market Analysis, Insights and Forecast (Quantitative Data), By Segments, 2016-2027
9.Asia Pacific Road Transport Refrigeration Equipment Market Analysis, Insights and Forecast (Quantitative Data), By Segments, 2016-2027
10.Middle East & Africa Road Transport Refrigeration Equipment Market Analysis, Insights and Forecast (Quantitative Data), By Segments, 2016-2027
11.Latin America Road Transport Refrigeration Equipment Market Analysis, Insights and Forecast (Quantitative Data), By Segments, 2016-2027
12.Profiles of Key Players (Would be provided for 10 players only)
Continue….
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About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
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