Press release
Road Transport Refrigeration Equipment Market 2020 Net Worth is US$ 4.73 billion and Forecasts by 2027 | Top Key Companies are: Carrier Transicold, A.H. Refrigeration, Chereau SAS, Hwasung Thermo Co. Ltd., Carrier, Great Dane (A Division of Great Dane LLC
Road Transport Refrigeration Equipment Market
New study report" Road Transport Refrigeration Equipment Market 2020 Market Opportunities, Challenges, Strategies, and Forecasts 2027″ 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 market size stood at USD 3.49 billion in 2017.
At the beginning of a recently published report on the Road Transport Refrigeration Equipment Market 2020-2027, extensive analysis of the industry has been done with an insightful explanation. The overview has explained the potential of the market and the role of key players that have been portrayed in the information that revealed the applications and manufacturing technology required for the growth of the Road Transport Refrigeration Equipment market.
Various segments of the market have been divided into different divisions. They have been depicted maximum share and profit maximization of the market during the forecasting period of 2020 to 2027. This is mentioned in the report too. Depending on the information, it has been recognized with different data and figures offered by the analysis of the overall understanding of the market place and value. Various distinctive features involve the market's knowledge based on the factors like the demographic changes, market dimensions, historical details, and market overviews. The research is also included in the strategic movements that are undertaken by the top-notch markets. Moreover, these key players affect the market growth and the profit rate of the overall market. In this report, the internal dimensions and assessments of the Road Transport Refrigeration Equipment market are revealed. The study of the Road Transport Refrigeration Equipment market's description has been taking place during the 2020 period and the last year of the foreseen period that extends to 2027.
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List of Key Players Covered in the Road Transport Refrigeration Equipment Market Report:
Carrier Transicold
A.H. Refrigeration
Chereau SAS
Hwasung Thermo Co. Ltd.
Carrier
Great Dane (A Division of Great Dane LLC)
Mitsubishi Heavy Industries Thermal Systems Ltd.
Ingersoll-Rand (Thermo King Corporation & FrigoBlock Grosskopf GmbH)
Zanotti S.p.A. (Daikin Europe N.V.)
Songz Automobile Air Conditioning Co., Ltd.
Kingtec Group Company Limited (Denso)
Subros Ltd.
Zhengzhou Corun Tech Co., Ltd.
COVID-19 Impact:
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.
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Method of Research:
Fail-safe, modern research methodologies are employed for the Road Transport Refrigeration Equipment market analysis. An exhaustive primary and secondary research conducted on the market using robust research techniques aid in the prediction of the market size at the end of forecast period. Top-up and bottom-down approaches were maintained in the entire market study.
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
Driving Factors:
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.
Regional Insights:
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.
Key Industry Development:
June 2019: G.A.H. Refrigeration launched 'e-fridge', a smart refrigeration variable electric system aimed to provide power to refrigeration systems for all vehicle types. The newly introduced system is ideal for fuel-electric, hybrid, diesel, and petrol engine technologies.
Major Table of Content:
Introduction
Executive Summary
Market Dynamics
Key Insights
Road Transport Refrigeration Equipment Market Analysis, Insights and Forecast, 2020-2027
North America Road Transport Refrigeration Equipment Market Analysis, Insights and Forecast, 2020-2027
Europe Road Transport Refrigeration Equipment Market Analysis, Insights and Forecast, 2020-2027
Asia Pacific Road Transport Refrigeration Equipment Market Analysis, Insights and Forecast, 2020-2027
Middle East and Africa Road Transport Refrigeration Equipment Market Analysis, Insights and Forecast, 2020-2027
Latin America Road Transport Refrigeration Equipment Market Analysis, Insights and Forecast, 2020-2027
Market Share Analysis, By Key Players, 2020
Competition Matrix
Company Profile
Continue….
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