Worldwide Demand for Truck Refrigeration Unit is Predicted to Swell at a CAGR of 4.5% by 2032

Around US$ 1,045 million in truck refrigeration unit sales were made worldwide in 2018. and it is anticipated to grow at a CAGR of 4.5% from 2019 to 2029. Perishable foods, pharmaceuticals, and chemicals are being sold and moved across borders at an unprecedented rate as global trade continues to grow. To accommodate the astronomical growth in global trade, cold chain logistics has expanded significantly over time.

Rapid technical developments in cold chain transportation and storage are making cold chain logistics more affordable and widely available.

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Key findings of the Truck refrigeration units study:

• Regional breakdown of the Truck refrigeration units based on predefined taxonomy.
• Innovative manufacturing processes implemented by Truck refrigeration units vendors in detail.
• Region-wise and country-wise fragmentation of the truck refrigeration units to grasp the revenue, and growth outlook in these areas.
• Changing preferences among consumers across various regions and countries.
• Factors (Positive and Negative) impacting the growth of the global Truck refrigeration units.

The Truck Refrigeration Units Battlefield: A Market Map

The top two competitors in the truck refrigeration unit market, Carrier Corporation (UTC) and Thermo King Corporation (Ingersoll Rand), combined hold a share of growth of around 70%. A growing number of local businesses and market enthusiasts continue to work together with the top market participants to operate their production facilities smoothly.

While the market leaders are progressively using cutting-edge technology to create cost- and energy-efficient products in order to meet rising demand from the food and beverage sector. The established market participants for truck refrigeration units have also focused on bolstering their direct market penetration through mergers and acquisitions with regional businesses.

The primary area of attention for the market leaders in truck refrigeration units that are seeking to acquire an edge in the industry is and will continue to be new, improved, and cost-competitive product development.

For instance, in March 2019, Carrier Transicold, a market leader in truck refrigeration units, unveiled the Supra S6, a new truck refrigeration unit created especially for small- to medium-sized trucks. The high-performance smart diesel engine in the Supra S6 complies with EPA Tier 4 emissions regulations and has three gears instead of two to maximise fuel efficiency.

Segmentation

Fact.MR's study analyzes the truck refrigeration units market on the basis of power, product, vehicle, end use and region. The report also offers comprehensive information about the market dynamics as well as the various trends associated with varying segments, and how they are shaping the growth of the truck refrigeration units market.

• By Product:

o Chiller
o Freezer
• By Vehicle:
o Light Duty Trucks
o Medium Duty Trucks
o Heavy Duty Trucks

• By End Use:

o Dairy
o Fruits and Vegetables
o Meat and Sea Food
o Others

• By Power:

o Vehicle Powered
o Diesel Powered

• By Region:

o North America
o Latin America
o Europe
o East Asia
o South Asia
o Oceania
o MEA

Queries addressed in the Truck refrigeration units report:

• Why are the Truck refrigeration units players targeting region for increased product sales?
• What patented technologies are the players utilizing in the global Truck refrigeration units?
• Which regions are displaying the fastest growth in the Truck refrigeration units?
• What are the underlying micro- macroeconomic factors affecting the global Truck refrigeration units?

A short viewpoint offered in the report elucidates the macro-economic aspects that influence the growth drivers of Truck refrigeration units which includes global GDP of Truck refrigeration units growth rate, various industries growth rate, such as cosmetics, pharmaceuticals, food and others.

This newly published and insightful report compounds sheds light on key dynamics, Key Trends of Truck refrigeration units and their impact on the overall value chain from Truck refrigeration units to end-users, which are expected to transform the future of the Truck refrigeration units sales.

More Valuable Insights on Truck refrigeration units Market

Fact.MR, in its new report, offers an unbiased Market Analysis of Truck refrigeration units, Sales and Demand of Truck refrigeration units, analyzing forecast statistics through 2020 and beyond. The study reveals growth projections on the basis of various criteria.

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