Global Refrigerated Road Transport Market: Emergence of Covid-19 Boost Demand for Refrigerated Transport for Vaccines - United Technologies Corporation (Carrier Corporation), Daikin Industries, Ltd., Utility Trailer Manufacturing Company

The global Refrigerated Road Transport market is estimated to account for US$ 21.78 Billion by 2025

Summary of the Report -

Global Refrigerated Road Transport Market, by Transportation Modes (Light Commercial Vehicles (LCV), Medium & Heavy Commercial Vehicles (MHCV), and Heavy Commercial Vehicles (HCV), by Cooling Type (Chilled and Frozen), by Technology (Cryogenic Systems and Vapor Compression Systems), and by Geography is estimated to be valued at US$ 12.81 billion in 2016, is projected to exhibit a CAGR of 6.11% over the forecast period (2017-2025), to be valued at US$ 21.78 billion by 2025., as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Refrigerated road transport enables fish and fish products to be transported long distances in a temperature-controlled environment. Transporting vehicles have a built-in refrigeration system which cools the shipments at a regulated temperature all through the process of shipping.

Competitive Landscape:

Major players operating in the global refrigerated road transport market include, Singamas Container Holdings Limited, Lamberet SAS, Hyundai Motor Company, Schmitz Cargobull AG, Ingersoll-Rand PLC, United Technologies Corporation (Carrier Corporation), Daikin Industries, Ltd., Utility Trailer Manufacturing Company, China International Marine Containers Ltd., Wabash National Corporation

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Key Market Drivers:

R&D in refrigerated transportation is expected to propel growth of the global refrigerated road transport market over the forecast period. For instance, in October 2021, Technology & Maintenance Council of the American Trucking Associations announced the start of a study with eSMARTT on the use and adoption of intelligence products and services in the refrigerated transportation sector.

Moreover, launch of new products is also expected to propel growth of the global refrigerated road transport market over the forecast period. For instance, in October 2021, Carrier Transicold launched a new diesel-powered truck refrigeration unit designed to increase freezing capacity and efficiency.

Geographically, the report examines production, consumption, revenue, market share, growth rate, and forecasts for the following regions:

🔹North America (United States, Canada)

🔹Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)

🔹Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)

🔹Latin America (Brazil, Mexico, Others)

🔹The Middle East and Africa (Saudi Arabia, United Arab Emirates, Turkey, Egypt, South Africa, Nigeria)

Covid-19 Impact Analysis

Globally, as of 5:15pm CET, 21 December 2021, there have been 274,628,461 confirmed cases of COVID-19, including 5,358,978 deaths, reported to WHO. The emergence of Covid-19 has led to mass vaccination. As of 19 December 2021, a total of 8,387,658,165 vaccine doses have been administered. This in turn is expected to boost demand for refrigerated road transport for supply of vaccines and other pharmaceuticals used in the treatment and management of Covid-19.

Some of the important questions answered in this report include:

✅ What are the top five Refrigerated Road Transport Market players?

✅ What will the Refrigerated Road Transport Market look like in the following years?

✅ Which product and application will dominate the Refrigerated Road Transport Market?

✅ What are the Refrigerated Road Transport Market's drivers and restraints?

✅ Which regional market will represent the highest growth?

✅ What will be the CAGR and market size of the Refrigerated Road Transport Market over the forecast period?

✅ What is the present market size, what will it be in 2029, and what will be the growth rate?

✅ What are the constraints to market growth?

✅ What market opportunities and risks do the key companies face?

✅ Who are the main competitors, and what is their strategic approach?

✅ What are the market's entry challenges for new players?

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Detailed TOC of Refrigerated Road Transport Market Forecast Report:

1 Refrigerated Road Transport Market Overview

1.1 Product Overview and Scope of Refrigerated Road Transport Market

1.2 Segment by Type

1.3 Global Segment by Application

1.4 Global Market, Region Wise (2017-2022)

1.5 Global Market Size of Refrigerated Road Transport Market (2017-2029)

2 Global Refrigerated Road Transport Market Landscape by Player

2.1 Global Refrigerated Road Transport Market Sales and Share by Player (2017-2022)

2.2 Global Revenue and Market Share by Player (2017-2022)

2.3 Global Average Price by Player (2017-2022)

2.4 Global Gross Margin by Player (2017-2022)

2.5 Manufacturing Base Distribution, Sales Area and Product Type by Player

2.6 Market Competitive Situation and Trends

3 Refrigerated Road Transport Market Upstream and Downstream Analysis

3.1 Industrial Chain Analysis

3.2 Key Raw Materials Suppliers and Price Analysis

3.3 Key Raw Materials Supply and Demand Analysis

3.4 Manufacturing Process Analysis

3.5 Market Concentration Rate of Raw Materials

3.6 Downstream Buyers

3.7 Value Chain Status Under COVID-19

Market Scale and Segment Analysis:

▪ Global Refrigerated Road Transport Market, By Transportation Mode:
LCV
MHCV
HCV

▪ Global Refrigerated Road Transport Market, By Cooling Type:
Chilled
Frozen

▪ Global Refrigerated Road Transport Market, By Technology:
Cryogenic systems
Vapor Compression Systems

Key Takeaways

▪ The global refrigerated road transport market is witnessing adoption of solar and battery power systems. For instance, in July 2021, XL Fleet Corp., a provider of in-vehicle electrification solutions, announced an investment in eNow Inc., a provider of solar and battery power systems that enable fully electric transport refrigeration units for commercial vehicle trailers.

▪ Major players operating in the global refrigerated road transport market are focused on adopting merger and acquisition strategies to expand their product portfolio. For instance, in December 2021, TFI acquired trucking company with refrigerated freight network D&D Sexton to expand its reach into the U.S. Similarly, in October 2021, Hub Group acquired Choptank Transport Inc., a provider of non-asset refrigerated transportation solutions.

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This release was published on openPR.