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Refrigerated Transport Market Trends, Growth, Major Opportunities, Rising Demand, Share And Forecast By 2032 || United Technologies Corporation, Daikin Industries Ltd., Ingersoll Rand, China International Shipping Containers
Refrigerated Transport Market
The Business Research Company's Refrigerated Transport Global Market Report 2023 identifies the rise in frozen food products as the major driver for the refrigerated transport market's growth in the forecast period. Frozen variants refer to pre-treatment and include processes such as blanching, heat treatments, dipping treatments, and cryoprotection, depending on the items being frozen. Widespread usage of frozen variants of various fresh products is increasing as it can increase vegetable intake because they are easily accessible and cheaper. For instance, according to WahUstad, an India-based fresh frozen food manufacturer & supplier, in April 2021, the frozen food market in India has increased by 40-50% for frozen fresh items and appears to be rising by 10-15% in the coming years.
The global refrigerated transport market size is expected to grow from $105.21 billion in 2022 to $114.5 billion in 2023 at a compound annual growth rate (CAGR) of 8.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The refrigerated transport market size is expected to grow to $155.64 billion in 2027 at a CAGR of 8.0%.
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Major competitors in the refrigerated transport market are United Technologies Corporation, Daikin Industries Ltd., Ingersoll Rand, China International Shipping Containers, Utility Trailer Manufacturing Company, Singamas Container Holdings Limited, Hyundai, Schmitz Cargobull, KRONE, LAMBERET SAS, Tata Motors, VE Commercial Vehicles Limited.
A key trend in the refrigerated transport market includes technological innovations. Major companies operating in the market are focused on introducing new technologies to sustain their position in the market. For instance, in 2021, Thermo King, a US-based company engaged in transport temperature control systems, launched its innovative product T-80E series units.
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The refrigerated transport market is segmented -
• By Transport Type: Refrigerated Road Transport, Refrigerated Medium & Heavy Commercial Vehicles (MHCV), Refrigerated Light Commercial Vehicles (LCV), Refrigerated Heavy Commercial Vehicles (HCV)), Refrigerated Sea Transport, Refrigerated Rail Transport, Refrigerated Air Transport
• By Temperature: Single Temperature, Multi-Temperature
• By Application: Chilled Food, Frozen Food
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Europe was the largest region in the refrigerated transport market.
The Business Research Company's "Global Refrigerated Transport Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Refrigerated Transport Market Include:
1. Executive Summary
2. Refrigerated Transport Market Characteristics
3. Refrigerated Transport Market Trends And Strategies
4. Refrigerated Transport Market - Macro Economic Scenario
5. Refrigerated Transport Market Size And Growth
……………
27. Refrigerated Transport Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Refrigerated Transport Market
29. Refrigerated Transport Market Future Outlook And Potential Analysis
30. Appendix
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