Truck Refrigeration Market Worth US$ 13336.1 Million, Globally, by 2027 at 5.0% CAGR - Exclusive Report by The Insight Partners

According to our latest market study on "Truck Refrigeration Market Forecast to 2027 - COVID-19 Impact and Global Analysis - by Type (Split Systems and Roof Mounted Systems); Application (Frozen and Chilled); Industry Vertical (Food & Beverage, Pharmaceutical & Chemical, and Others); and Vehicle Type (Trailers and Medium & Heavy Commercial Vehicles); Geography" the market was valued at US$ 9,100.1 million in 2019 and is projected to reach US$ 13336.1 million by 2027; it is expected to grow at a CAGR of 5.0% from 2020 to 2027.The report highlights the key factors driving the market growth, and prominent players and their developments in the market.

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The safety of food products is a major concern worldwide, mainly due to the increase in demand for fresh food items. Shipping frozen and perishable food items such as meat, seafood, vegetables, and fruits is a major task in the food & beverages industry, which is increasing the requirement of advanced refrigeration systems for transportation.

The rising demand for cold chain products is driving the adoption of refrigerated trucks. Additionally, the rise in demand for online delivery of chilled and frozen products is generating the growth opportunities for the truck refrigeration market players. Mounting importance of organic food in countries such as Germany, the US, and the UK owing to the strict restrictions on the intake of synthetic ingredients such as artificial colors in the foodstuff is anticipated to encourage the scope of the refrigerated trucks in the coming years.

Global Truck Refrigeration Market: Competitive Landscape: Carrier Global Corporation; Daikin; Denso; Klinge Corporation; Mitsubishi Heavy Industries, Ltd.; SCHMITZ CARGOBULL; Subros Limited; Songz Automobile Air Conditioning Co., Ltd.; Thermo King; and Webasto Thermo & Comfortare among the leading players in the truck refrigeration market.

This section of the report identifies various key manufacturers of the market. It helps the reader understand the strategies and collaborations that players are focusing on combat competition in the market. The comprehensive report provides a significant microscopic look at the market. The reader can identify the footprints of the manufacturers by knowing about the global revenue of manufacturers, during the forecast period of 2021 to 2028.

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According to the World Health Organization (WHO) report, India, the US, Brazil, Colombia, Argentina, Peru, Spain are among the worst-affected countries due to the COVID-19 outbreak. The tremendous growth in the spread of the virus has urged governments across the world to impose strict restrictions on transportation. The lockdown imposition has resulted in lesser production of goods and commodities. The truck refrigeration market players are also experienced a slowdown in production due to limited workforce availability at production plants. On the contrary, the operational activities of essential goods such as food & beverage, pharmaceuticals, and chemicals for biological or pharmaceutical laboratories, has created ademand for reefer trucks.

Global Truck Refrigeration Market: Regional Analysis
The report offers in-depth assessment of the growth and other aspects of the Truck Refrigeration market in important regions. Key regions covered in the report are North America, Europe, Asia-Pacific and Latin America.

Major Key Points of Truck Refrigeration Market
• Truck Refrigeration Market Overview
• Truck Refrigeration Market Competition
• Truck Refrigeration Market, Revenue and Price Trend
• Truck Refrigeration Market Analysis by Application
• Company Profiles and Key Figures in Truck Refrigeration Market
• Market Dynamics
• Methodology and Data Source

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The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Healthcare, Manufacturing and Construction, Media and Technology, Chemicals, and Materials.

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